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Unformatted text preview: 12171712 2 22 Answer: i Interest expense b. Bonds payable Anterest income d. Notes payable 25 out of 2 5 points Question 37 Which of the following is not a common transaction affecting stockholders' equity"! Answers:((it Bond amortization b. The declaration and payment of dividends c. The exercises and expirations of stock options and warrants d. The purchase of treasury stock 2,5 out of 2.3 points Question 38 An auditor determines that there is an inherent risk that a company has not included both the basic earnings per share and diluted earnings per share amounts in financial statements even though significant dilutive securities are part of the company's complex capital structure. This determination is most likely tied to which of the following management assertions? Answers a. Rights and obligations b. Valuation (c, Presentation and disclosure d. Existence 2,5 out of 2.5 points Question 39 Which of the following is NOT an example of typical analytical procedures related to debt obligations? Answers: ( Calculate the current ratio and perform a trend analysis with prior periods. b. Perform a trend analysis of the balances in notes payable, interest expense, and accrued interest with prior periods, considering known client activities related to debt. c. Calculate the times interest earned ratio and perform a trend analysis with prior periods....
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  • Fall '10
  • PHILLIPS
  • Exam 2, Generally Accepted Accounting Principles

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