Day 5 - F1 & F2

Question 1

The amortization of actuarial pension loss will cause other comprehensive income to:

Answer 1

Increase

While increasing pension expenses and causing NET INCOME to decrease

MCQ-07459

Question 2

Equation: Book Value per Common Share

Answer 2

= Common SH Equity / # Common Stock

Note: need to SUBTRACT out Treasury Stock

MCQ-05940

Question 3

FS of all prior periods presented should be restated when there is a:

Answer 3

Change in Entity

Such as resulting from:

1. Changing companies in consolidated FS
2. Consolidated FS versus previous Individual FS

MCQ-00071