Day 59 - 53% FAIL Flashcards by Joe Rhodes | Brainscape

Q

All Treasury stock transactions ______ total equity.

A

Decrease

MCQ-01520

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Q

Book value per share is based on

A

The total outstanding number of shares

Treasury stock transactions reduces this number

MCQ-01520

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Q

ABC owns Tesla. ABC distributed a property dividend of Tesla shares when their FV exceeded their CV. What are the accounting effects to Dividend recorded and RE?

A

Fair Value - Decrease

MCQ-01463

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Q

Should a post dated check be included in the BS?

A

Not in Cash bc it becomes cash after the BS date

MCQ-04691

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