Quiz 12 - Comprehensive income may be presented in a...

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Question 1: Score 0/1 "Discontinued operations" is an example of an extraordinary item. Your Answer: Choice Selected True Selected False Question 2: Score 1/1 In determining earnings per share when a preferred stock has dividends in arrears, only the current years' dividend is deducted to arrive at earnings per share. Your Answer: Choice Selected True False Question 3: Score 1/1 When a corporation presents both "basic" and "fully diluted" earnings per share, basic earnings per share will be the smaller of the two figures. Your Answer: Choice Selected True False Question 4: Score 1/1 Stock splits are always in a 2 for 1 ratio. Your Answer: Choice Selected True False Question 5: Score 1/1 An extraordinary item appears on the income statement before the section on discontinued operations.
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Your Answer: Choice Selected True False Question 6: Score 1/1 Prior period adjustments appear in the statement of retained earnings and in the income statement for the current year. Your Answer: Choice Selected True False Question 7: Score 0/1
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Unformatted text preview: Comprehensive income may be presented in a statement with net income, in a separate statement , or as part of stockholders' equity. Your Answer: Choice Selected True False Selected Question 8: Score 1/1 A statement of stockholders' equity is not a required financial statement and need not be prepared along with a statement of retained earnings. Your Answer: Choice Selected True False Question 9: Score 1/1 According to the Sarbanes-Oxley Act lying to an external auditor can create a criminal penalty as well as a civil penalty. Your Answer: Choice Selected True False Question 10: Score 0/1 In order to receive a dividend, a stockholder must have owned the stock as of the declaration date. Your Answer: Choice Selected True Selected False Question 11: Score 1/1 The expropriation (seizure of) of a multinational company's assets by a government is an example of a discontinued operation item. Your Answer: Choice Selected True False...
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This note was uploaded on 11/10/2009 for the course ACCOUNTING FA taught by Professor Jonathan during the Spring '08 term at Maastricht.

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Quiz 12 - Comprehensive income may be presented in a...

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