E work in process inventory 7 the current liability

e. work in process inventory.
7. The current liability section of the balance sheet should include:
a. buildings.
b. goodwill.
c. land held for speculation purposes.
d. accounts payable.
e. None of the answers are correct.
8. Which of the following is not a current asset?
9. If a parent has some control over a subsidiary but the subsidiary is not consolidated, the subsidiary is
accounted for as:
10. Which of the following is not a proper use of notes?
11. Company A owns shares of Company B and Company C. The statements of Company B are
consolidated with those of Company A. The statements of Company C are not consolidated. Company
A reports "Noncontrolling Interest" on its balance sheet. This account represents:
a. A's noncontrolling share of the stock of B.
b. A's noncontrolling share of the stock of C.
c. the noncontrolling share by outside owners of the stock of A.
d. the noncontrolling share by outside owners of the stock of B.
e. the noncontrolling share by outside owners of the stock of C.
12. Drama Products Inc. has issued redeemable preferred stock. For analysis purposes, these securities are
best classified as: