Home / Questions / Which of the following is not a component of income from operations
Which of the following is not a component of income from operations?
|
a. |
Extraordinary losses |
|
b. |
Write-downs of assets |
|
c. |
Restructurings |
|
d. |
Costs and expenses |
86.The write-down of an asset will affect
|
a. |
total assets, but not net income. |
|
b. |
both total assets and net income. |
|
c. |
net income, but not total assets. |
|
d. |
neither total assets nor net income. |
87.The quality of a company's earnings may be affected by the
|
a. |
accounting methods the company uses. |
|
b. |
choice of independent auditors. |
|
c. |
industry in which the company operates. |
|
d. |
countries in which the company operates. |
88.When alternative acceptable accounting methods exist, a better quality of earnings generally is produced from selecting an accounting method that has the effect of reporting the
|
a. |
lowest amount of future earnings. |
|
b. |
greatest amount of assets currently. |
|
c. |
greatest amount of retained earnings currently. |
|
d. |
lowest amount of current earnings. |
89.The consistency convention requires that
|
a. |
the selection of a company's accounting policies be disclosed in its financial statements. |
|
b. |
a company use the same accounting procedures year after year. |
|
c. |
a company use the same independent auditors year after year. |
|
d. |
all companies operating in the same industry use the same accounting methods. |
90.Which of the following is analyzed when a financial statement reader is looking at the nature of nonoperating items?
|
a. |
Discontinued operations |
|
b. |
Interest expense |
|
c. |
Cost of goods sold |
|
d. |
Interest revenue |
91.The existence of which of the following income statement items will reduce the quality of the bottom-line figure?
|
a. |
Advertising expense |
|
b. |
Extraordinary gain |
|
c. |
Revenues from services |
|
d. |
Cost of goods sold |
92.The quality of earnings will be affected by which of the following?
|
a. |
Choice of inventory method |
|
b. |
Estimation of building's useful life |
|
c. |
Discontinued operations |
|
d. |
All of these choices |
93.Net income does not include
|
a. |
foreign currency translation adjustments. |
|
b. |
income taxes expense. |
|
c. |
discontinued operations. |
|
d. |
extraordinary gains and losses. |
94.A corporate income statement does not contain
|
a. |
extraordinary gains and losses. |
|
b. |
discontinued operations. |
|
c. |
earnings per share data. |
|
d. |
unrealized investment gains and losses. |
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