101.GAAP requires trading and availableforsale investments to be recorded
a.at their fair value
b.at their historical cost
c.at their market value
d.at their net realizable value
102.Changes in the value of availableforsale securities
a.are reported as part of stockholders' equity
b.are recognized on the income statement
c.are not recognized
d.are recognized on the income statement and as part of stockholders' equity
103.All of the following are disadvantages of fair value use
except
a.fair values may not be readily obtainable
b.fair values may cause more fluctuations as change occurs from period to period
c.comparability between companies may be impacted by different fair value measurement
d.fair values only affect balance sheet accounts
104.Financial statements include assets listed at
a.all of these
b.their fair value
c.their historical cost
d.their market value
105.All of the following are factors contributing to the trend for regulators to adopt accounting principles using fair valueconcepts
except
a.a greater percentage of total assets existing as receivables and securities
b.pressure on regulators to adopt an international set of accounting principles and standards
c.hybrid measurement methods within GAAP that conflict with each other
d.the ease of applying market values to assets and liabilities
106.Edison Corporation paid a dividend of $10 per share on its $100 par preferred stock and $4 per share on its $20 parcommon stock. The market value of the common stock is $80 per share. Edison’s dividend yield is
a.5%
b.10%
c.25%
d.20%
107.A company that has 25,000 shares of $5.00 par value common stock issued and outstanding paid a dividend of$0.40 per share. The market value of the stock is $16 per share. The company’s dividend yield is
a. 2.5%
b. 400%
c. 16%
d. 40%
108.The dividend yield is measured as
a.Dividends per share of common stock/Market price per share of common stock
b.Dividends per share of preferred stock/Market price per share of common stock
c.Dividends per share of common stock × Market price per share of preferred stock
d.Dividends per share of preferred stock × Market price per share of preferred stock
109.On July 5, Winter Company had a market price of $58 per share of common stock. For the prior year, Winter Co.had paid an annual dividend of $3.48 per share. What is the dividend yield for Winter Company?
a. 6.0%
b. 0.6%
c. 16.67%
d. 1.67%
110.Which of the following is
nota part of comprehensive income?
a.foreign currency items
b.cash flows from stock investments
c.unrealized gains and losses on available-for-sale securities
d.pension liability adjustments
111.Which of the following would be considered an "other comprehensive income" item?
a.net income
b.extraordinary loss related to flood
c.gain on disposal of discontinued operations
d.unrealized loss on available-for-sale securities
112.Companies may report comprehensive income on each of the statements below
except
a.income statement
b.separate statement of comprehensive income
c.statement of cash flows
d.retained earnings statement