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Identify How Each Event Is Reported

Question 87

Matching

Identify how each event is reported

Premises:

Responses:

Gain on disposal of one of the company’s four corporate office buildings

accounting principle

Retired bonds early and incurred a loss

discontinued operation

Received dividends on stock investments

component of continuing operations

Changed from FIFO to average cost flow assumption

Disposal of a business segment

Estimated uncollectible accounts at year-end

Premises:

Gain on disposal of one of the company’s four corporate office buildings

Retired bonds early and incurred a loss

Received dividends on stock investments

Changed from FIFO to average cost flow assumption

Disposal of a business segment

Estimated uncollectible accounts at year-end

Responses:

accounting principle

discontinued operation

component of continuing operations

Correct Answer:

Premises:

Responses:

Gain on disposal of one of the company’s four corporate office buildings

Retired bonds early and incurred a loss

Received dividends on stock investments

Changed from FIFO to average cost flow assumption

Disposal of a business segment

Estimated uncollectible accounts at year-end

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