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Which gain on disposal of land occurring in third quarter is

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Reference no: EM132771602

Problem 1: For interim reporting, a gain on disposal of land occurring in the third quarter is

A. Recognized and allocated over the quarters

B. Recognized immediately in the third quarter

C. Recognized and allocated over four quarters

D. Deferred until the annual reporting

Problem 2: If an entity prepares interim financial statements, which statements are required?

A. Statement of financial position, income statement and statement of comprehensive income.

B. Statement of financial position, income statement, statement of cash flows and statement of changes in equity.

C. Income statement, statement of comprehensive income and statement of cash flows

D. Statement of financial position, statement of comprehensive income, statement of cash flows and statement of changes in equity.

Reference no: EM132771602

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