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NEW QUESTION 22
A corporation had foreign currency translation gains from converting the financial statements of its foreign operations into U.S dollars .How will these gains be reported on the corporation's financial statements?
- A. As part of net income on the income statement
- B. As a net increase in cash in the operating activities section of the statement of cash flows
- C. As a current asset on the balance sheet
- D. As part of comprehensive income on the income statement
Answer: D
NEW QUESTION 23
in times of declining prices using the Last-in First-Out (LIFO) cost flow assumption rather than the First-in, First-Out (FIFO) assumption will yield
- A. lower assets and lower income
- B. higher assets and higher income
- C. higher assets and lower Income
- D. lower assets and higher income
Answer: B
NEW QUESTION 24
Which one of the following activities is not a pan of the data mining process?
- A. Applying statistical techniques to derive information from large sets of data
- B. Using artificial intelligence to identify patterns in large data sets
- C. Creating valid and useful information from large data sets using statistical methods
- D. Generating recommendations based on insights derived from large databases
Answer: D
NEW QUESTION 25
One major output of an accounting information system's financing cycle is a summary of
- A. forecasted cash needs
- B. current cash balances.
- C. actual operating cash inflows
- D. actual operating cash outflows
Answer: A
NEW QUESTION 26
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