Which of the following is typically NOT presented within a firms statement of cash flows?

the gross amounts of cash inflow and cash outflow from operating activities

the gross amounts of cash inflow and cash outflow from investing activities

the gross amounts of cash inflow and cash outflow from financing activities

All of the above are typically presented within a firms statement of cash flows

Comprehensive income:

Includes net income.

Includes other comprehensive income.

Is defined as all changes in owners equity during a period excluding contributions by and distributions to owners.

All of the above.

Which of the following is an example of applying the concept of substance over form under GAAP?

Accounting for a lease as a capital lease by a lessee even though legal title to the leased asset has not been acquired

Issuing consolidated financial statements for a parent and its subsidiary corporations even though they exist as separate legal entities

A sale of accounts receivable is not accounted for as a sale when the seller is responsible for covering any losses incurred by the :buyer

All of the above are examples of substance over form

Which of the following is not an accounting method that require(s) year-end estimates in formulating financial statements amounts?

The Allowance method of accounting for bad debts

Using the Completed Contract Method to account for long term construction contracts

Determining compensation expense from employee stock options plans

Determining the value of deferred tax liabilities or deferred tax assets when accounting for differences between book and tax income.

Which of the following is not an example of applying the conservatism convention in financial accounting?

Valuing financial investments classified as Trading at fair market value when the securities have appreciated in value relative to the initial acquisition cost

Immediate recognition of losses when first expected when accounting for long term contracts under the Percentage of Completion method

Presentation of inventory on the balance sheet at lower of cost or market

Presentation of Accounts Receivable on the balance sheet at net realizable value