Which of the following is not true?
a. Gains (losses) are increases (decreases) in net assets from peripheral or incidental transactions of an entity and from other transactions and events affecting the entity except those that result from revenues (expenses) or investments by (distributions to) owners.
b. Firms usually report gains and losses from sales of assets or settlements of liabilities at a net amount; that is, equal to the difference between the net asset received and the carrying value of the asset sold or between the net asset given and the carrying value of the liability settled.
c. Gains and losses may arise from the remeasurement of assets and liabilities.
d. Firms recognize gains and losses when they sell or exchange assets or settle liabilities in market transactions.
e. Firms recognize gains and losses when those items enter the measurement of net income or other comprehensive income.
D
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Which of the following is correct?
a. check digits should be used for all data codes b. check digits are always placed at the end of a data code c. check digits do not affect processing efficiency d. check digits are designed to detect transcription and transposition errors
Discuss measures of long-term liquidity risk
According to the GLOBE study, which of these is not a cultural dimension?
A. institutional collectivism B. in-group collectivism C. division of labor D. future orientation
Which of the following statements is true about the federal court system?
A) Appeals of benefits decisions made by the Veterans Administration are heard only by the Federal Circuit Court of Appeals. B) Appeals from administrative agencies are heard only by the Federal Circuit Court of Appeals. C) Bankruptcy cases must be filed under trial courts of limited jurisdiction. D) The U.S. Supreme Court only hears appeals in the federal system.