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Provide appropriate expense in period for interim reporting

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Reference no: EM132952635

Problem 1: When an entity issues a share split

Option 1: The previous year's EPS is not adjusted for the issue.

Option 2: The previous year's EPS is adjusted for the issue.

Option 3:  Only a note of the effect on the previous year's EPS is made.

Option 4:  Only the diluted EPS for the previous year is adjusted.

Problem 2: Advertising expenses that are incurred for the year shall be deferred to provide an appropriate expense in each period for [a] interim reporting; and [b] year-end reporting.

Option 1: Only a is correct

Option 2: Only b is correct

Option 3: Both are true

Option 4: Both are false

Problem 3: A related party transaction is a transfer of resources or obligations:

Option 1: Between related parties when a price is charged

Option 2: Between related parties, regardless of whether a price is charged

Option 3: unrelated parties when a price is charged

Option 4:  Between unrelated parties, regardless of whether a price is charged

Reference no: EM132952635

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