Day 33 Flashcards
Discontinued operations is reported where?
Net of tax
MCQ-07402
A publicly traded company’s 2nd fiscal quarter ends on March 31, they are an accelerated filer. What is the latest date to file form 10-Q
May 10th
40 days for Accelerated and Large fillers
45 days for small fillers
MCQ-09007
Rule: Anti dilution
When calculating EPS, any shares that are anti dilution are NOT INCLUDED in the calculation
MCQ-01199
Fixed assets costs are based on _______ from the outside work and remodel the same on consolidated FS
Original Costs
MCQ-00497
Losses on the reissue of Treasury Stock would reduce:
Paid In Capital
MCQ-01527
A lease agreement contains a purchase option at the end of the lease term for the fair value of the leased property. How should the Lessee classify this lease?
Operating
The Lessee must be REASONABLY CERTAIN TO EXERCISE the purchase option to be a FINANCE lease
MCQ-08576
To capitalize interest, is obtaining borrowed funds a requirement to capitalize interest
No
Borrowed funds obtained but not used, before, during or after the construction period must be expensed by the entity
MCQ-01546
