Day 45 - 60% FAIL Flashcards
1
Q
The market price of a bond issued at a premium is equal to the PV of it’s principal amount:
A
And the PV of all future interest payments at the market (effective) interest rate
MCQ-00458
2
Q
In calculating income tax, rent received in advance is taxable when?
A
When received
MCQ-00830
3
Q
In an NOL carryforward, the tax benefit equals:
A
The carryforward times the tax rate
MCQ-12709
4
Q
How are gains and losses treated when calculating cash flows using the indirect method?
A
Gains are subtracted from net income
Losses are added to Net income
MCQ-14848
5
Q
When a company exercises no significant influence over another but owns 25% of the other company, what method should be used to report the investment?
A
Fair Value method
MCQ-07501
6
Q
Non-interest bearing Note
MCQ-00444
A
