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Unformatted text preview: (a) gain on disposal of discontinued operations. (b) unrealized loss on available-for-sale securities. (c) extraordinary loss related to flood. (d) net income. Answer: (b) unrealized loss on available-for-sale securities. In horizontal analysis, each item is expressed as a percentage of the: (a) net income amount. (b) stockholders' equity amount. (c) total assets amount. (d) base-year amount. Answer: (d) base-year amount. Adams Corporation reported net sales of $300,000, $330,000, and $360,000 in the years 2008, 2009, and 2010, respectively. If 2008 is the base year, what percentage do 2010 sales represent of the base? (a) 77%. (b) 108%. (c) 120%. (d) 130%. Answer: (c) 120%....
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This note was uploaded on 11/08/2011 for the course ACCOUNTING ac 201 taught by Professor - during the Spring '11 term at Montgomery.
- Spring '11