Day 32

Question 1

What is the Sinking Funds Cash?

Answer 1

Cash restricted for the retirement of bonds

MCQ-01058

Question 2

Farmer Tyler is selling corn in 4 different states, what is the “most advantageous” market?

Answer 2

The market where Tyler gets paid the highest price for corn

MCQ-04905

Question 3

An item included in the calculation of net income in one year and in taxable income in a different year results in what?

Answer 3

A Temporary Difference

MCQ-06608

Question 4

I’m calculating EPS how are declared and paid preferred dividends affect the EPS calc?

Answer 4

Preferred stock dividends are cumulative, whether they are DECLARED or Paid is irrelevant

Note: only subtract CY preferred dividend amount from Net Income

MCQ-01198