Only when you choose our Financial-Accounting-Reporting Exam Study Guide guide torrent will you find it easier to pass this significant examination and have a sense of brand new experience of preparing the Financial-Accounting-Reporting Exam Study Guide exam. Our Financial-Accounting-Reporting Exam Study Guide exam guide is suitable for everyone whether you are a business man or a student, because you just need 20-30 hours to practice it that you can attend to your exam. There is no doubt that you can get a great grade. Our Financial-Accounting-Reporting Exam Study Guide training quiz is provided by PDF, Software/PC, and App/Online, which allows you to choose a suitable way to study anytime and anywhere. The PDF versions of Financial-Accounting-Reporting Exam Study Guide study materials can be printed into a paper file, more convenient to read and take notes. So we have adamant attitude to offer help rather than perfunctory attitude.
CPA Certification Financial-Accounting-Reporting What are you waiting for? Come and buy it now.
And our website has already became a famous brand in the market because of our reliable Financial-Accounting-Reporting - Certified Public Accountant (Financial Accounting & Reporting) Exam Study Guide exam questions. Are you still feeling distressed for expensive learning materials? Are you still struggling with complicated and difficult explanations in textbooks? Do you still hesitate in numerous tutorial materials? Financial-Accounting-Reporting Latest Test Guide Files study guide can help you to solve all these questions. Financial-Accounting-Reporting Latest Test Guide Files certification training is compiled by many experts over many years according to the examination outline of the calendar year and industry trends.
For more textual content about practicing exam questions, you can download our products with reasonable prices and get your practice begin within 5 minutes. After getting to know our Financial-Accounting-Reporting Exam Study Guide test guide by free demos, many exam candidates had their volitional purchase. So our Financial-Accounting-Reporting Exam Study Guide latest dumps are highly effective to make use of.
Admission Test Financial-Accounting-Reporting Exam Study Guide - You can directly select our products.
According to personal propensity and various understanding level of exam candidates, we have three versions of Financial-Accounting-Reporting Exam Study Guide study guide for your reference. They are the versions of the PDF, Software and APP online. If you visit our website on our Financial-Accounting-Reporting Exam Study Guide exam braindumps, then you may find that there are the respective features and detailed disparities of our Financial-Accounting-Reporting Exam Study Guide simulating questions. And you can free donwload the demos to have a look.
With the rapid development of society, people pay more and more attention to knowledge and skills. So every year a large number of people take Financial-Accounting-Reporting Exam Study Guide tests to prove their abilities.
Financial-Accounting-Reporting PDF DEMO:
QUESTION NO: 1
On January 2, 1993, Quo, Inc. hired Reed to be its controller. During the year, Reed, working closely with Quo's president and outside accountants, made changes in accounting policies, corrected several errors dating from 1992 and before, and instituted new accounting policies.
Quo's 1993 financial statements will be presented in comparative form with its 1992 financial statements.
This question represents one of Quo's transactions. List A represents possible clarifications of these transactions as: a change in accounting principle, a change in accounting estimate, a correction of an error in previously presented financial statements, or neither an accounting change nor an accounting error.
Item to Be Answered
Quo manufactures heavy equipment to customer specifications on a contract basis. On the basis that it is preferable, accounting for these long-term contracts was switched from the completed-contract method to the percentage-of-completion method.
List A (Select one)
A. Neither an accounting change nor an accounting error.
B. Correction of an error in previously presented financial statements.
C. Change in accounting estimate.
D. Change in accounting principal.
Answer: D
QUESTION NO: 2
Rock Co.'s financial statements had the following balances at December 31:
What amount should Rock report as comprehensive income for the year ended December 31?
A. $400,000
B. $520,000
C. $570,000
D. $420,000
Answer: B
QUESTION NO: 3
The effect of a change in accounting principle that is inseparable from the effect of a change in accounting estimate should be reported:
A. By restating the financial statements of all prior periods presented.
B. As a component of income from continuing operations, in the period of change and future periods if the change affects both.
C. As a separate disclosure after income from continuing operations, in the period of change and future periods if the change affects both.
D. As a correction of an error.
Answer: B
QUESTION NO: 4
Coffey Corp.'s trial balance of Income Statement Accounts for the year ended December 31,
1988 as follows:
Coffey's income tax rate is 30%. The gain on debt extinguishment is considered a usual and recurring part of Coffey's operations. The hurricane is considered an unusual and infrequent event. Coffey prepares a multiple-step income statement for 1988.
Net income is:
A. $200,000
B. $168,000
C. $161,000
D. $140,000
Answer: D
QUESTION NO: 5
In open market transactions, Gold Corp. simultaneously sold its long-term investment in Iron
Corp. bonds and purchased its own outstanding bonds. The broker remitted the net cash from the two transactions.
Gold's gain on the purchase of its own bonds exceeded its loss on the sale of the Iron bonds. Assume the transaction to purchase its own outstanding bonds is unusual in nature and has occurred infrequently.
Gold should report the:
A. Effect of its own bond transaction as an extraordinary gain, and report the Iron bond transaction loss in income before extraordinary items.
B. Effect of its own bond transaction gain in income before extraordinary items, and report the Iron bond transaction as an extraordinary loss.
C. Net effect of the two transactions in income before extraordinary items.
D. Net effect of the two transactions as an extraordinary gain.
Answer: A
CFA Institute ESG-Investing - Holding a professional certificate means you have paid more time and effort than your colleagues or messmates in your major, and have experienced more tests before succeed. SAP C-CPE-16 - Although everyone hopes to pass the exam, the difficulties in preparing for it should not be overlooked. One decision will automatically lead to another decision, we believe our Fortinet FCSS_ADA_AR-6.7 guide dump will make you fall in love with our products and become regular buyers. Obtaining the Huawei H13-211_V3.0 certification is not an easy task. EXIN SIAMP - Certified Public Accountant (Financial Accounting & Reporting) study questions provide free trial service for consumers.
Updated: May 28, 2022