All of the following statements regarding other comprehensive income are true except:
A. Other comprehensive income is added or subtracted to net income to determine comprehensive income.
B. Other comprehensive income includes unrealized gains and losses on available-for-sale securities.
C. Other comprehensive income includes foreign currency adjustments.
D. Other comprehensive income is not considered when calculating comprehensive income.
E. Accumulated other comprehensive income is defined as the cumulative impact of other comprehensive income.
Answer: D
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Which is not a required characteristic for a liability to be recognized?
A) Transfer B) Service potential C) Nonavoidable D) Incurred
When testing for the differences between two percentages, a computed z value that is larger than the critical z value (i.e. +or -1.96 ) amounts to no support for:
A) a significant difference B) the null hypothesis C) the alternative hypothesis D) null alternative E) none of the above
Pick the correct answer below and explain why it is correct. Explain why the alternative answers are incorrect. Many states prohibit intermarriage of persons who are "lunatics" or who are "insane."
a. This policy is sound, because it protects against the birth of genetically inferior children. b. This policy is sound, because "lunatics" or "insane" persons are, by definition, not able to comprehend the significance of intermarriage. c. This policy is unsound, because it discriminates against "lunatics" and "insane" persons. d. This policy is unsound, because there is no clear or realistic standard by which to determine if one is a "lunatic" or "insane.".
If a criminal offense is punishable by a fine and/or imprisonment for less than a year, it is probably a:
a. felony b. tort c. breach of contract d. misdemeanor e. defamation