ANSWERS TO QUESTIONS 1. Sustainable income is defined as the most likely level of income to be obtained in the future. It is the amount of regular income that a company can expect to earn from its normal operations. In order to distinguish a company’s net income from its sustainable income‚ irregular items‚ such as a once-in-a lifetime gain or discontinued operations‚ are reported separately on the income statement. 2. Items (a)‚ (d)‚ and (g) are extraordinary items; item (h) is debatable
Premium Generally Accepted Accounting Principles Balance sheet Revenue
CHAPTER 3 THE REPORTING ENTITY AND CONSOLIDATED FINANCIAL STATEMENTS ANSWERS TO QUESTIONS Q3-1 The basic idea underlying the preparation of consolidated financial statements is the notion that the consolidated financial statements present the financial position and the results of operations of a parent and its subsidiaries as if the related companies actually were a single company. Q3-2 Without consolidated statements it is often very difficult for an investor to gain an understanding
Premium Balance sheet Asset
Review Test Submission: Exam 3 | | Course | Epistemology-PHIL 201 | Test | Exam 3 | | | | | | | | | | | | | * Question 1 | | | __________________ combined rationalism and empiricism‚ showing how both played a role in our understanding | | | Correct Answer: | Kant. | | | | | * Question 2 | | Descartes deduced God from the concept of God itself‚ in order to justify the idea of the material world. Correct Answer: | True |
Premium Epistemology Immanuel Kant Metaphysics
101-00128 Oct 2014 Accounting Accounting is the recording‚ measurement‚ and interpretation of financial information (Business 286). This financial information is used to evaluate the organization’s operations. To carry out these interpretations of financial information a public or private accountant is able to do this. To become a public accountant you must earn your CPA (certified public accountant) by passing a test and means you are certified by the state in which you provide accounting services where
Premium Income statement Financial statements Balance sheet
QUESTIONS Question 1 (40 marks) Select the correct answer and write it into your examination book next to the question number (for example‚ 11-C): 1.1 Asset classes are divided into how many main groups? a) b) c) d) Two Three Four Five Answer: (Topic 3; page 112) c 1.2 A bank fulfills the function of being an intermediary between: a) b) c) d) Consumers and producers. Consumers and suppliers. Savers and borrowers. Capitalists and entrepreneurs. Answer: (Topic 2; page 60) c 1.3 Capital is the concept
Premium Investment Tax Inflation
Test Critique General Information Theodore Million‚ Carrie Million‚ Roger Davis‚ and Seth Grossman wrote Millon Adolescent Clinical Inventory (MACI) and Pearson published it in 1993. The second edition has been available since 2006. Starting kit is $125‚ includes MACI manual and answer sheets: all materials necessary to conduct 3 assignments and receive interpretive reports using the mail-in scoring services. The manual alone is $45.50 (Pearson‚ 2015). The Millon Adolescent Clinical Inventory (MACI)
Premium Psychometrics Beck Depression Inventory Psychology
1. IntroductionPensonic Company Pensonic is one of the most successful trading companies in Penang‚ Malaysia that sells a wide variety of electrical appliances. In addition to its own brand “Pensonic”‚ the company also owns the German brand “Lebensstil Kollektion” and owns the sole-distribution rights for the Dutch brand “Princess” in Malaysia. Pensonic also established a mass production hub and international distribution network of electrical home mechanism and an international distribution network
Premium Balance sheet Accounts receivable Inventory
The formation of the debit and credit concept In this simplified form we can begin to see what the mathematician and Father of Accounting (Luca Pacioli) saw in 1494 when he codified the double-entry bookkeeping system. It is his codified system that outlined the rules for applying debits and credits when recording the financial transactions of a business in the double-entry bookkeeping system. Now remember that Luca’s book in 1494 was written and published in Latin and at a time when the concept
Premium Double-entry bookkeeping system Bookkeeping
(1897). Karl Pearson‚ on the other hand‚ expounded his support for Social Darwinism during a lecture to students. Born in 1836 to a prosperous middle-class shoemaking family in England‚ Joseph Chamberlain was influenced by the robust liberal traditions associated with Birmingham shoemakers. Advocating reform in the British Parliament‚ Chamberlain contended that the occupation of Asia and Africa significantly bolstered the British economy and the well-being of
Premium
Kimberly Keller R. Anderson English 201 24 March 2014 When Your Teacher Believes in You Imagine being a student whose biggest concern was trying to get through the day alive. Surrounded by drugs‚ gangs‚ guns and violence‚ you can see why the rhythm of poetry isn’t the concern of students. This was the life of the students at Woodrow Wilson High School in Long Beach‚ California. Many of these students had a choice between attending school or boot camp; few aspired beyond basic survival.
Free Education