1. All of the following could be on a multi-step income statement except for: Group of answer choices non-operating income income from continuing operations income from discontinued operations no subtotals or intermediate calculations of income before net income.

Managerial Economics: Applications, Strategies and Tactics (MindTap Course List)
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ISBN:9781305506381
Author:James R. McGuigan, R. Charles Moyer, Frederick H.deB. Harris
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Chapter5: Business And Economic Forecasting
Section: Chapter Questions
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1. All of the following could be on a multi-step income statement except for:
Group of answer choices
non-operating income
income from continuing operations
income from discontinued operations
no subtotals or intermediate calculations of income before net income.
 
 
 
2. Which of the following would be a current asset?
Group of answer choices
Investments to pay for a bond due in 10 years
Accounts Receivable
Building
Patent
 
 
 

3. Which of the following would be a current liability?
Group of answer choices
Bonds payable
Accounts Payable
Mortgage payable
Notes payable due in 5 years.
 
 
 

4. Which of the following is not an intangible?
Group of answer choices
Patents
Trademarks
Investments
Copyrights
 
 
 

5. What must happen for goodwill to be recorded as an asset on an accounting balance sheet?
Group of answer choices
A company has a good reputation
A company buys another company for more than the value of the individual assets and liabilities
A company has good brands
A company does good deeds
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