Under U.S. GAAP and IFRS, the firm measures the assets and liabilities of a discontinued operation at the lower of their _____ It reports any gain or loss that results in the Discontinued Operations section of the income statement. The Discontinued Operations section also includes income or loss from operating the unit for that year. Financial statements for prior years included for comparative
purposes classify those amounts also as a discontinued operation.
a. carrying values or their fair values.
b. net realizable values or their fair values.
c. carrying values or the present value of future cash flows.
d. net realizable values or the present value of future cash flows.
e. liquidation values or the present value of future cash flows.
A
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Which of the following is not a post-employment benefit, according to FASB ASC Topic 712, "Employers' Accounting for Postemployment Benefits"?
a. Salary continuation after severance b. Health insurance paid for a three-month period following a layoff c. Life insurance coverage paid for retirees d. Job training for laid-off workers
Equal monthly rental payments for a particular lease should be charged to rental expenses by the lessee in a capital lease.
Which of the following issues is least important in using co-branding effectively?
A. The brands involved should represent a complementary fit in a customer's mind. B. The brands that are teamed together should not lose their individual identities. C. The brands involved should be owned by different companies. D. Co-branding should be done in a way so that it is obvious which brand is the main brand or key brand. E. Co-branding should take advantage of the distribution capabilities of the brands involved.
A company has net sales of $1,831,800.00 and average accounts receivable of $426,000.00. What is its accounts receivable turnover for the period?
A. 4.30 B. 0.33 C. 78.20 D. 7.60 E. 23.90