Finance And Accounting

Question: What is the definition of a "discontinued operation"?
A
A part of a company that has been sold off or is being held out for sale

B
When a company decides to no longer manufacture a certain product

C
Operations which were not profitable last year

D
When a company goes bankrupt

Note: Answer not sure
1. Report
Question: What is the conversion rate?
A
The interest rate earned on the bond

B
The number of people who convert the debt compared to those who don't

C
The number of years the convertible debt is outstanding

D
The rate at which each dollar of bond converts into shares

Note: Answer not sure
1. Report
Question: What is the purpose of stipulating exactly how earnings per share is calculated?
A
It creates a level playing field for comparing all companies who adhere to the same guidelines.

B
It forces the management to think about their earnings.

C
It drives companies to higher profit levels.

D
It generates more tax income for the government.

Note: Answer not sure
1. Report
Question: What is a contingent convertible bond issuance?
A
A convertible debt instrument which can only be converted if the management says the holders can

B
A convertible debt instrument which can only be converted if the share price reaches a specific level

C
A debt conversion which is contingent on the level of earnings

D
A debt conversion which is contingent on a board directive

Note: Answer not sure
1. Report
Question: What impact does an accounting change typically have?
A
All statements going forward must be presented under the old method as well as the new method.

B
All statements going forward must reflect the new policy but there is no other effect.

C
Prior financial statements must be restated correctly given the change.

D
The company must create several "what if" scenarios for any potential future changes also.

Note: Answer not sure
1. Report
Question: What are the tax implications of consolidation?
A
It creates a higher tax burden.

B
It reduces tax burden.

C
Depends on the state the company is located in.

D
None, if consolidation is for financial reporting purposes and not for tax purposes.

Note: Answer not sure
1. Report
Question: Why is the value of a derivative continually adjusted for accounting purposes?
A
To reflect the current market value, since values fluctuate frequently

B
To make accounting financial reports more attractive

C
To increase earnings

D
To lower liability until the derivative is written off

Note: Answer not sure
1. Report
Question: Which FASB statement addresses the proper accounting for contingent liabilities?
A
FASB 201

B
FASB 5

C
FASB 99

D
FASB 144

Note: Answer not sure
1. Report
Question: Losses from inventory due to theft, evaporation, and waste are called ______________.
A
average cost

B
realization

C
shrinkage

D
costing

Note: Not available
1. Report
Question: Which of the following entails carrying units in inventory at their acquisition costs until they are sold?
A
JIT inventory

B
FIFO

C
Acquisition cost basis

D
LIFO

Note: Answer not sure
1. Report

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Question: What is the definition of a "discontinued operation"?

Question: What is the conversion rate?

Question: What is the purpose of stipulating exactly how earnings per share is calculated?

Question: What is a contingent convertible bond issuance?

Question: What impact does an accounting change typically have?

Question: What are the tax implications of consolidation?

Question: Why is the value of a derivative continually adjusted for accounting purposes?

Question: Which FASB statement addresses the proper accounting for contingent liabilities?

Question: Losses from inventory due to theft, evaporation, and waste are called ______________.

Question: Which of the following entails carrying units in inventory at their acquisition costs until they are sold?