Day 9

Question 1

Costs associated with exit and disposal activities?

Answer 1

1. Costs to relocate employees
2. Benefits related to INVOLUNTARY employee termination

MCQ-06065

Question 2

At what amount should the Asset Requirement Obligation be recorded at when the asset is placed into service?

Answer 2

The liability should be recorded at PV of the future obligation when placed into service

MCQ-08732

Question 3

The decommissioning liability was reviewed and adjusted after the asset was fully depreciated. How should this change be recognized?

Answer 3

The change in liability is recognized in Profit & Loss

MCQ-14648

Question 4

Bonus expense is recorded when?

Answer 4

The cost of the benefits should be associated with the service period required

MCQ-04227

Question 5

Equation: Net Realizable Value

Answer 5

= Selling Price - Cost to Complete and Sell

MCQ-06042

Question 6

When are proceeds in excess of stock par value credited to APIC

Answer 6

When they are exercised

MCQ-01041