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ACCT 382 - Week 4 - Chapter 4 Homework - Question 7

ACCT 382 - Week 4 - Chapter 4 Homework - Question 7
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ACCT 382 - Week 4 - Chapter 4 Homework - Question 7

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Question 7

Listed below are several terms and phrases associated with income statement presentation and the statement of cash flows. Pair each item from List A (by letter) with the item from List B that is most appropriately associated with it.

 

 

List A

List B

 

1.

Intraperiod tax allocation

.

Unusual, infrequent, and material gains and losses.

 

2.

Comprehensive income

 

Starts with net income and works backwards to convert to cash.

 

3.

Extraordinary items

 

Reports the cash effects of each operating activity directly on the statement.

 

4.

Operating income

 

Correction of a material error of a prior period.

 

5.

A discontinued operation

 

Related to the external financing of the company.

 

6.

Earnings per share

 

Associates tax with income statement item.

 

7.

Prior period adjustment

 

Total nonowner change in equity.

 

8.

Financing activities

 

Related to the transactions entering into the determination of net income.

 

9.

Operating activities (SCF)

 

Related to the acquisition and disposition of long-term assets.

 

10.

Investing activities

 

Required disclosure for publicly traded corporation.

 

11.

Direct method

 

A component of an entity.

 

12.

Indirect method

 

Directly related to principal revenue-generating activities.