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16 Cards in this Set
- Front
- Back
The application of the matching principle to deprecation of plant and equipment can best be described as |
Offsetting revenue of an accounting period with the portion of the cost of plant and equipment estimated to have been used up during the accounting period |
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All of the following are examples of current liabilities except |
Pledged assets |
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The current portion of long term debt should be reported |
In the current liabilities section of the balance sheet |
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The advantage of corporations going public included all of the following except |
Ability to remove assets |
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Public corporations are required by law or regulation to perform all of the following except |
Make regularly scheduled dividend payments to all stockholders |
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A primary disadvantage of the corporate form of organization is |
Corporate earnings are subject to double taxation |
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Which of the following is not a right of stockholders |
To select the chief executive officer |
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The amount of earnings per share is usually computed |
For common stock by deducting the dividends on preferred stock from net income and dividing the remaining amount by the weighted average number of common shares outstanding |
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The purpose of devolving the subtotals in an income statement is to |
Assist investors in forecasting future operating results |
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In computing earnings per share the number of shares used is |
The weighted average of shares outstanding for the year |
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To qualify as an extraordinary item a gain or loss must |
Be material in amount unusual in nature and not expected to recur |
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Webster compnay |
Debit to discount bonds payable 30,000 |
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Webster compnay |
Debit to discount bonds payable 30,000 |
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Jupiter company |
60,000 |
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Grande home |
21,000 debit |
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Platinum company |
5.20 |