FAR 9.4.2016.1

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  1. Deficits accumulated during the development stage of a company should be:
    reported as a part of stockholders’ equity.
  2. How should plan investments be reported in a defined benefit plan's financial statements?
    At fair value
  3. Fair value is the price that would be received to sell an asset or paid to transfer a liability in -----------------------------------------------------------------------------------.
    Fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between willing market participants at the measurement date.
  4. Net realizable value is used for ----------------------------- and ----------------, ----------------------, and ----------------------.
    Net realizable value is used for short-term receivables and some inventories, trade payables, and warranty obligations.
  5. Neely Co. disclosed in the notes to its financial statements that a significant number of its unsecured trade account receivables are with companies that operate in the same industry. This disclosure is required to inform financial statement users of the existence of:
    concentration of credit risk.
  6. --------------- risk must be disclosed
    Credit risk must be disclosed

Card Set Information

Author:
Joens1313
ID:
322922
Filename:
FAR 9.4.2016.1
Updated:
2016-09-04 19:45:50
Tags:
FAR
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Description:
FAR 9.4.2016.1
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