1-2 Quiz – Intermediate Accounting – ACC317
1.
Answer is: collection in 2025 of receivable from a customer whose account
was written off in 2024 by a charge to the allowance account
2.
Answer is: Other comprehensive loss
3.
Answer is: revenues, expenses, gains, and losses
4.
, 1-2 Quiz – Intermediate Accounting – ACC317
Answer is: Changes in estimates are not carried back to adjust prior years’
financial statements
5.
Answer is: investments by owners
6.
Answer is: True
7.
Answer is: Income from continuing operations and net income
1.
Answer is: collection in 2025 of receivable from a customer whose account
was written off in 2024 by a charge to the allowance account
2.
Answer is: Other comprehensive loss
3.
Answer is: revenues, expenses, gains, and losses
4.
, 1-2 Quiz – Intermediate Accounting – ACC317
Answer is: Changes in estimates are not carried back to adjust prior years’
financial statements
5.
Answer is: investments by owners
6.
Answer is: True
7.
Answer is: Income from continuing operations and net income
