Comprehensive income equals net income as reported on the income statement plus (minus) the increase (decrease) in other comprehensive income for the year
Indicate whether the statement is true or false
T
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Which one of the following steps in the accounting cycle is optional rather than required?
a. Business transactions are recorded b. Adjustments are recorded c. The accounts are closed d. Work sheets are prepared
Harley-Davidson's user profile includes both thrill-seeking and affinity for a countercultural image. In addition to demographics, Harley-Davidson uses ________ segmentation to target markets
A) value analysis B) social class C) geodemographic D) socioeconomic E) psychographic
According to the most current FASB standards, intangible assets acquired in a basket purchase that does not represent the acquisition of an entire business should be
a. valued by allocating the total purchase price according to the relative fair values of all assets acquired, regardless of whether the assets are separately tradable or contract based. b. valued by allocating the total purchase price according to the relative fair values only of intangible assets that are separately tradable or contract based. c. valued by recording separately traded and contract based intangible assets at their individual fair values with any unallocated purchase price being recognized as goodwill. d. valued by recording separately traded and contract based intangible assets at their individual fair values with any unallocated purchase price being expensed in the year of acquisition.
Bagrov Corporation had a net decrease in cash of $10,000 for the current year. Net cash used in investing activities was $52,000 and net cash used in financing activities was $38,000. What amount of cash was provided (used) in operating activities?
A. $(100,000) used. B. $(10,000) used. C. $80,000 provided. D. $(80,000) used. E. $100,000 provided.