Day 19 Flashcards
1
Q
Equation: Basic EPS
A
(Net Income - Preferred Div) / Common Shares
2
Q
How is 150% declining balance depreciation calculated?
A
Use SL first then multiply the SL Depr expense by 150%
MCQ-05650
3
Q
NYC received a gift, the principal of which is too be invested in perpetuity with the income to be used to support the local library. Which find should this gift be recorded in?
A
Permanent Fund - used to report resources that are legally restricted to the extent of income
MCQ-06942
4
Q
What are Special Revenue Funds use for?
A
Specific taxes or other earmarked funds that (by law) are restricted or committed to finance government activities
MCQ-06942
