Details of this Paper

A controlling interest occurs when one corporation acquires a voting interest




A controlling interest occurs when one corporation acquires a voting interest of more than 50 percent in another corporation.;a. True;b. False;Question 12 (10 points);Trading securities and available-for-sale securities are classified as current or noncurrent assets depending on the circumstances.;a. True;b. False;Question 13 (10 points);A company reduces a deferred tax asset by a valuation allowance if it is probable that it will not realize some portion of the deferred tax asset.;a. True;b. Fasle;Question 14 (10 points);A company should add a decrease in a deferred tax liability to income tax payable in computing income tax expense.;a. True;b. False;Question 15 (10 points);A pension plan is contributory when the employer makes payments to a funding agency.;a. True;b. Fasle;Question 16 (10 points);Qualified pension plans permit deductibility of the employer?s contributions to the pension fund.;a. True;b. False;Question 17 (10 points);A capitalized leased asset is always depreciated over the term of the lease by the lessee.;a. True;b. False;Question 18 (10 points);A lessee records interest expense in both a capital lease and an operating lease.;a. True;b. Fasle;Question 19 (10 points);When a company changes an accounting principle, it should report the change by reporting the cumulative effect of the change in the current year?s income statement.;a. True;b. False;Question 20 (10 points);One of the disclosure requirements for a change in accounting principle is to show the cumulative effect of the change on retained earnings as of the beginning of the earliest period presented.;a. True;b. False


Paper#27273 | Written in 18-Jul-2015

Price : $27