Congress enacted a major financial reform bill in 2010, popularly known as:
a. the Dodd-Frank Act b. the Wall Street Act
c. the Financial Crisis Act
d. the Business Regulation Act e. the Patriot Act
a
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All of the following statements are true except:
a. IFRS requires that estimates of residual value and the life of the asset be reviewed at least annually and revised if necessary. b. The FASB standards do not have a specific rule that requires residual value and asset life to be reviewed annually. c. IFRS does not have a specific rule that requires residual value and asset life to be reviewed annually. d. The FASB generally requires operating assets to be recorded at acquisition cost, less depreciation, and the assets' values are not changed to reflect their fair market values or selling prices.
Which of the following disclosures are required by GAAP for OPEBs?
A) the assumed healthcare cost trend rates B) the amounts of securities included in the plan assets C) the types of securities included in the plan assets D) All of these answer choices are required
Reconciliation of vendor statements to recorded payables provides assurance related to the completeness assertion
a. True b. False Indicate whether the statement is true or false
Assume the following sales data for a company: 2010 $1,017,000 2009 565,000 What is the percentage increase in sales from 2009 to 2010?
A) 100% B) 80% C) 180% D) 44.4%