SAB

1. Bumi Corporation purchased an investment in the ordinary shares of another corporation for Rp250,000,000 in 2015. The shares are actively traded on the Indonesian Stock Exchange. The fair value of the investment at December 31, 2017 is Rp268,000,000. If the company follows the fair value principle, the investment will be reported in the 2014 financial statement at

2. Gafisa Inc. performed services for R$390,000. The company collected R$130,000 in cash. The balance will be collected in 30 days. Performing services for R$390,000 will increase

3. The economic entity assumption requires that the activities

4. Gunnie Inc., located in Texas, records business transactions in dollars and disregards changes in the value of a dollar over time. Which of the following accounting assumptions does this represent?

5. The retained earnings section of the statement of financial position is determined by

6. Which of the following would not be considered internal users of accounting data for a company?

7. If services are rendered for credit, then

8. The assumption that enables accounting to quantify (measure) economic events is the

9. Marilu Company began the year with equity of $225,000. During the year, Marilu issued additional ordinary shares in exchange for cash of $315,000, recorded expenses of $900,000, and paid dividends of $60,000. If Marilu’s ending equity was $690,000, what was the company’s revenue for the year?

10. The Roy’s Downtown Diner received a bill of $400 from the Emeril Advertising Agency. The owner, Roy James, is postponing payment of the bill until a later date. The effect on specific items in the basic accounting equation is