3101 Quiz-04 for student 2010

3101 Quiz-04 for student 2010 - Acctg 3101 1 Chap.4 Quiz...

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Acctg 3101 Chap.4 Quiz Name: 1. Which of the following is not a generally accepted method of presenting the income statement? a. Including prior period adjustments in determining net income b. The single-step income statement c. The consolidated statement of income d. Including gains and losses from an extraordinary item in determining net income 2. The major sections of the income statement are presented in the following order: a. continuing operations, extraordinary items, and then discontinued operations. b. continuing operation , discontinued operations, and then cumulative effect of change in GAAPs. c. continuing operations, discontinued operations, and then extraordinary items. d. continuing operation , extraordinary items, and then cumulative effect of change in GAAPs. 3. An item that should be classified as an extraordinary item is a. write-off of goodwill. b. gains from transactions involving foreign currencies. c.
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3101 Quiz-04 for student 2010 - Acctg 3101 1 Chap.4 Quiz...

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