Day 62 - 47% DNF - A

Question 1

An entity that files with the SEC, must disclose the date at which subsequent events have been evaluated?

Answer 1

False no disclosure

Subsequent events need to be evaluated up to the date the FS are issued and widely distributed

MCQ-04889

Question 2

The carrying amount of the bond between interest dates equals:

Answer 2

Amount paid
LESS Accrued Interest
=CV of bond

MCQ-00501

Question 3

DTL

Answer 3

When pretax income is higher than taxable income

MCQ-04661

Question 4

ABC changed from the individual item approach to the aggregate approach applying lower FIFO cost or market. Where is this reported?

Answer 4

Retrospect adjustment to RE

A change in composition and cost = accounting principle change

MCQ-00225

Question 5

Goodwill to partners

Skill builder

MCQ-00721

Question 6

What is the effect on total assets and meet income when writing of an AR under the allowance method?

Answer 6

No effect & no effect

Allowance and AR are both BS amounts

MCQ-07225