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Practice final BBUS3211_SW2_PE_10JUL12

D adecreaseinadeferredtaxliability 9

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Unformatted text preview: . c. Added to earnings for the year. d. Ignored. TRU Open Learning BBUS 3211 • PRACTICE EXAMINATION 8. 4 of 13 A magazine publisher collects one year in advance for subscription revenue. In the year of providing the magazines to customers, the company would record: a. An increase in a deferred tax asset. b. A decrease in a deferred tax asset. c. An increase in a deferred tax liability. d. A decrease in a deferred tax liability. 9. Which of the following is an example of Non‐Financial liabilities a. An Asset retirement obligation b. Accounts payable c. Notes payable d. None of the above 10. ABC Corporation shows the following share capital: Jan 1, 2010 Common shares outstanding 90,000 March 31, 2010 Issued common shares 30,000 June 30 2010 Repurchased and retired 39,000 Nov 1, 2010 Issued common shares 60,000 Number of Shares The company reported net income of $1,300,000. The EPS would be a. $13.00 b. $12.62 c. $ 11.62 d. $13.65 11. A change in depreciation method from straight‐line...
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