Home / Questions / The financial statements of a firm that uses more aggressive accounting practices
The financial statements of a firm that uses more aggressive accounting practices would be likely to report:
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a. |
Higher profitability. |
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b. |
Higher dividends. |
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c. |
Higher liabilities. |
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d. |
Fewer total assets. |
118. Which of the following is NOT an example of applying conservatism in accounting?
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a. |
Recording contingent losses that are probable. |
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b. |
Expensing all research and development costs are they are incurred. |
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c. |
Using the lower-of-cost-or-market rules for inventory accounting. |
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d. |
Increasing the useful life used in calculating depreciation. |
119. Which of the following is a conservative accounting practice?
a. The use of a longer service life for depreciation.
b. Waiting to record a litigation loss.
c. Adjust the allowance for uncollectible accounts to a smaller amount.
d. The write-down of overvalued inventory.
120. Which of the following is an aggressive accounting practice?
a. The use of a shorter service life for depreciation.
b. Waiting to record a litigation loss.
c. Adjust the allowance for uncollectible accounts to a larger amount.
d. The write-down of overvalued inventory.
121. Which of the following is a conservative accounting practice?
a. Change from double-declining balance to straight-line depreciation.
b. Record sales revenue before it is actually earned.
c. Adjust the allowance for uncollectible accounts to a larger amount.
d. Record inventory at market rather than lower of cost or market.
122. Which of the following is an aggressive accounting practice?
a. Change from straight-line to double-declining balance depreciation.
b. Record sales revenue before it is actually earned.
c. Adjust the allowance for uncollectible accounts to a larger amount.
d. Record inventory at lower of cost or market rather than at cost.
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