Yan Sun Exam 2 Questions And Verified Correct Answers.
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Course
SJN
Institution
SJN
Reporting corrections of errors result from - correct answer mathematical mistakes, mistakes in application of accounting principles, oversight or misuse of facts
discontinued operation - correct answer The sale or disposa...
Reporting corrections of errors result from - correct answer mathematical mistakes,
mistakes in application of accounting principles, oversight or misuse of facts
discontinued operation - correct answer The sale or disposal of a component of an
entity, must be clearly disguishable from the entity
2 things reported for discontinued operations - correct answer operating
income/loss from component from the beginning of the reporting period AND gain/loss from disposal of
components assets
examples of components - correct answer operating segments, reporting units,
subsidiaries, asset groups
reporting unusual gains and losses (unusual) - correct answer high degree of
abnormality and of a type clearly unrelated to, or only incidentally related to, the ordinary and typical
activities of the company, taking into account the environment in which it operates
reporting unusual gains and losses (infrequency of occurrence) - correct answer
type of transaction that is not reasonably expected to recur in the foreseeable future, taking into
account the environment for which the company operates
examples of unusual gains or losses - correct answer restructuring charges, gain or
loss from the sale of assets, write-down of assets, effect of a strike, and gain or loss related to casualties
such as fires, floods, and earthquakes
earnings per share - correct answer net income - preferred dividends / weighted
average common shares outstanding
earnings per share measures - correct answer the dollars earned by each share of
common stock
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