The formats used to present the items that are included in Other Comprehensive Income include which of the following?
a. A two-statement presentation that includes a balance sheet and a separate statement of comprehensive income.
b. A single statement that reconciles changes between the balance sheet and the statement of retained earnings.
c. A single statement of comprehensive income that shows all the changes in net assets. This statement includes both Net Income and Other Comprehensive Income.
d. A two-statement presentation that includes a statement of cash flows and a separate statement of comprehensive income.
e. None of these answer choices is correct.
C
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A change to GAAP from a principle that is not generally accepted
A) requires a retrospective application of the new accounting principle. B) requires prospective treatment. C) requires a retrospective adjustment or restatement. D) is a correction of an error and accounted for by a prior-period adjustment.
A developer seeking a local zoning change so she can build a major commercial or residential development may find that she is asked to finance a study of the potential environmental impact of her proposed project, as required under the ________.
A. Clean Air Act B. National Environmental Policy Act C. Control of Air Toxics Act D. Federal Water Pollution Control Act
In a weak matrix, the functional manager has a very small role and authority
Indicate whether the statement is true or false
Compute the simple interest earned on a 1-year $200 deposit that earns 6% per year
A) $6 B) $60 C) $120 D) $12 E) $200