Both U.S. GAAP and IFRS require the presentation of an income statement and the presentation of the items of Other Comprehensive Income. U.S. GAAP permits the following reporting format(s) except for:
a. a single statement of comprehensive income that shows all the changes in net assets except from transactions with owners.
b. a two-statement presentation that includes an income statement and a separate statement of comprehensive income.
c. a separate display of the items comprising Other Comprehensive Income within a statement of changes in shareholders' equity.
d. a separate display of the items comprising Other Comprehensive Income within a statement of retained earnings.
e. All of the above are acceptable reporting formats.
D
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Tangible assets on the balance sheet should include:
a. equipment. b. inventory. c. trademarks. d. investments. e. accrued insurance.
Financial information exhibits the characteristic of consistency when
a. accounting procedures are adopted which smooth net income and make results consistent between years. b. extraordinary gains and losses are shown separately on the income statement. c. accounting entities give similar events the same accounting treatment each period. d. expenditures are reported as expenses and netted against revenue in the period in which they are paid.
Ability and performances tests are useful tools for evaluating the potential of job applicants in performing particular jobs. These tests are part of the ________ process.
A. feedback B. selection C. training D. recruiting E. appraisal
The _____ analysis feature of a decision support system (DSS) monitors the performance of variables that are outside a defined range
Fill in the blank(s) with correct word