Foreign reconciliations to us gaap

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16. Which one of the following characteristics of preferred stock would make the stock resemble a liability?
A) The preferred stock is callable.
B) The preferred stock is convertible.
C) The preferred stock has warrants attached.
D) The preferred stock is noncumulative.
E) The preferred stock is participating.

19. SFAS 14 required a U.S. corporation to disclose disaggregated information for
A) industry segments, geographic regions in the United States, and major customers.
B) domestic and foreign operations, imported materials, export sales, and major customers.
C) industry segments, export sales, and imported materials.
D) manufacturing, marketing, and administrative divisions of the company.
E) industry segments, domestic and foreign operations, export sales, and major customers.

20. Which of the following items is not one of the ten accounting issues most commonly requiring adjustments in foreign reconciliations to U.S. GAAP?
A) Foreign currency translation.
B) Employee compensation.
C) Deferred taxes.
D) Gain/loss on disposal of assets.
E) Interest expense.

21. Which tests must a company use to determine which operating segments require separate disclosure?
A) revenue test and asset test
B) revenue test, profit or loss test, and asset test
C) revenue test and profit or loss test
D) profit or loss test and asset test
E) revenue test, asset test, and liability test

 

Reference no: EM1362287

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