Reference no: EM132968269

Problem 1: Which approach is not used to prepare the statement of cash flow?

Select one:
a. Direct method
b. Indirect method
c. Periodic method

Problem 2: The earnings per share formula is ________.

Select one:
a. (Net income - Preferred dividends) / Weighted average common shares outstanding
b. (Net income + Preferred dividends) / Weighted average common shares outstanding
c. Weighted average common shares outstanding / (Net income + Preferred dividends)

Problem 3: Which one are the four potential treatments for contingent liabilities?

Select one:
a. Probable and estimable, Probable and inestimable, Reasonably possible and Remote
b. Probable and inestimable, Reasonably possible, Bad debt and Remote
c. Probable and inestimable, Reasonably possible, Interest and Remote

Problem 4: Which one is not a main type of adjusting entries?

Select one:
a. Deferrals
b. Income
c. Accruals