Exam 1 Preparation
Alternative methods exist for the measurement of the pension obligation (liability). Which
measure requires the use of future salaries in its computation?
a. Vested benefit obligation
b. Accumulated benefit ob
Exam 2 Preparation
Stuart Corporation's taxable income differed from its accounting income computed for
this past year. An item that would create a permanent difference in accounting and
taxable incomes for Stuart would be
a. a bal
Which of the following is not an accurate representation concerning revenue
a. Revenue from selling products is recognized at the date of sale, usually
interpreted to mean the date of delivery to cust
1. Fogel Co. has $5,000,000 of 8% convertible bonds outstanding. Each $1,000 bond is convertible into
30 shares of $30 par value common stock. The bonds pay interest on January 31 and July 31. On July
31, 2012, the h
1. Securities which could be classified as held-to-maturity are
a. redeemable preferred stock.
c. municipal bonds.
d. treasury stock.
2. Unrealized holding gains or losses which are recognized in income
1) On July 1, 2012, Nall Co. issued 2,500 shares of its $10 par common stock and 5,000 shares of its $10
par convertible preferred stock for a lump sum of $140,000. At this date Nall's common stock was
selling for $2