{"id":77318,"date":"2018-02-20T23:50:30","date_gmt":"2018-02-20T23:50:30","guid":{"rendered":"https:\/\/writemyessayfree.com\/devry-acct304-week-3-quiz"},"modified":"2017-08-18T07:13:40","modified_gmt":"2017-08-18T07:13:40","slug":"devry-acct304-week-3-quiz","status":"publish","type":"post","link":"https:\/\/www.benedictsol.com\/blogs\/devry-acct304-week-3-quiz\/","title":{"rendered":"devry acct304 week 3 quiz"},"content":{"rendered":"
\n (TCO 5) The distinction between operating and non-operating income relates to<\/span><\/p>\n

continuity of income.<\/span><\/p>\n

principal activities of the reporting entity.<\/span><\/p>\n

consistency of income stream.<\/span><\/p>\n

reliability of measurements.<\/span><\/p>\n

Instructor Explanation: See Chapter 4.<\/span><\/p>\n

Points Received: 4 of 4<\/span><\/p>\n

Comments: <\/span><\/p>\n

Question 2. Question : <\/span><\/p>\n

(TCO 5) Major Co. reported a 2011 income of $300,000 from continuing operations before income taxes and a before-tax extraordinary loss of $80,000. All income is subject to a 30% tax rate. In the 2011 income statement, Major Co. would show the following line-item amounts for income tax expense and net income.<\/span><\/p>\n

$66,000 and $210,000<\/span><\/p>\n

$90,000 and $154,000<\/span><\/p>\n

$90,000 and $276,000<\/span><\/p>\n

$66,000 and $220,000<\/span><\/p>\n

Instructor Explanation: <\/span><\/p>\n

Points Received: 4 of 4<\/span><\/p>\n

Comments: <\/span><\/p>\n

Question 3. Question : <\/span><\/p>\n

(TCO 5) The financial statement presentation of a change in depreciation method is most similar to that of reporting<\/span><\/p>\n

changes in accounting estimates.<\/span><\/p>\n

prior period adjustments.<\/span><\/p>\n

ion of errors.<\/span><\/p>\n

extraordinary items.<\/span><\/p>\n

Instructor Explanation: See Chapter 4.<\/span><\/p>\n

Points Received: 4 of 4<\/span><\/p>\n

Comments: <\/span><\/p>\n

Question 4. Question : <\/span><\/p>\n

(TCO 5) Cash flows from investing activities do not include<\/span><\/p>\n

proceeds from issuing bonds.<\/span><\/p>\n

payment for the purchase of equipment.<\/span><\/p>\n

proceeds from the sale of marketable securities.<\/span><\/p>\n

cash outflows from acquiring land.<\/span><\/p>\n

Instructor Explanation: See Chapter 4.<\/span><\/p>\n

Points Received: 4 of 4<\/span><\/p>\n

Comments: <\/span><\/p>\n

Question 5. Question : <\/span><\/p>\n

(TCO 5) Review Rowdy\u2019s Restaurants cash flow (in millions):<\/span><\/p>\n

Rowdy\u2019s would report net cash inflows (outflows) from financing activities in the amount of<\/span><\/p>\n

$1,100.<\/span><\/p>\n

$(1,100).<\/span><\/p>\n

$820.<\/span><\/p>\n

$900.<\/span><\/p>\n

Instructor Explanation: <\/span><\/p>\n

Points Received: 4 of 4<\/span><\/p>\n

Comments: <\/span><\/p>\n<\/fieldset>\n


\n
\n \u2026<\/i><\/p>\n","protected":false},"excerpt":{"rendered":"

(TCO 5) The distinction between operating and non-operating income relates to continuity of income. principal activities of the reporting entity. consistency of income stream. reliability of measurements. Instructor Explanation: See Chapter 4. Points Received: 4 of 4 Comments: Question 2. Read More …<\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-77318","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/posts\/77318","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/comments?post=77318"}],"version-history":[{"count":0,"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/posts\/77318\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/media?parent=77318"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/categories?post=77318"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/tags?post=77318"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}