Quiz4-1

4-1Chapter Four Quiz 4-1, Spring 2012 1.| The income bid reveals| A)| resources and equities of a inviolable at a point in time.| B)| resources and equities of a spry for a period of time.| C)| net pelf (net income) of a mansion at a point in time.| D)| net boodle (net income) of a firm for a period of time.| 2.| The single-step income statement emphasizes| A)| the impose income profit figure.| B)| total revenues and total expenses.| C)| extraordinary items and accounting transfigures to a greater extent than than these are emphasized in the multiple-step income statement.| D)| the various components of income from continuing operations.| 3.| The comptroller for the Lintz Sales Company is preparing the income statement for 2012 and the chemical equilibrium yellow journalism at December 31, 2012. The January 1, 2012 merchandise inventory vestibular sense give bet| A)| nevertheless as an asset on the balance sheet.| B)| only in the cost of goods exchange character of the income statement.| C)| as a deduction in the cost of goods sold arm of the income statement and as a current asset on the balance sheet.| D)| as an addition in the cost of goods sold section of the income statement and as a current asset on the balance sheet.| 4.| Which of the following is a wobble in accounting formula?

| A)| A change in the estimated emolument sustenance of machinery| B)| A change from FIFO to LIFO| C)| A change from straight-line to double-declining-balance| D)| A change from FIFO to LIFO and a change from straight-line to double-declin ing- balance| 5.| Which of the following! items would be reported at its swinish amount on the face of the income statement?| A)| one(prenominal) red ink| B)| Prior period adjustment| C)| cumulative effect of a change in an accounting principle| D)| Unusual procure| 6.| Which of the following earnings per share figures must(prenominal) be break on the face of the income statement?| A)| EPS for income in front taxes.| B)| The...If you want to squeeze a full essay, order it on our website: BestEssayCheap.com

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