Question : 79.A controlling influence over the investee based the investor owning : 1236473

79.A controlling influence over the investee is based on the investor owning voting stock exceeding:   

A.10%.

B.20%.

C.30%.

D.40%.

E.50%.

80.Long-term investments can not include:   

A.Held-to-maturity debt securities.

B.Securities with maturity dates within one operating cycle.

C.Available-for-sale equity securities.

D.Equity securities giving an investor significant influence over an investee.

E.Available-for-sale debt securities.

81.Consolidated financial statements:   

A.Show the results of operations, cash flows, and the financial position of all entities under a parent’s control, including all subsidiaries.

B.Show the results of operations, cash flows, and the financial position of the parent only.

C.Show the results of operations, cash flows, and the financial position of the subsidiary only.

D.Include the investments in the subsidiaries on the balance sheet.

E.Do not include a balance sheet.

82.Comprehensive income includes all except:    

A.Revenues and expenses reported in the income statement.

B.Dividends paid to shareholders.

C.Unrealized gains and losses on long-term available-for-sale securities.

D.All changes in equity for a period except those due to investments and distributions to owners.

E.Gains and losses reported in the income statement.

83.Short-term investments in held-to-maturity debt securities are accounted for using the:   

A.Fair value method with fair value adjustment to income.

B.Fair value method with fair value adjustment to equity.

C.Cost method with amortization.

D.Cost method without amortization.

E.Equity method.

84.Long-term investments in held-to-maturity debt securities are accounted for using the:   

A.Fair value method with fair value adjustment to income.

B.Fair value method with fair value adjustment to equity.

C.Cost method without amortization.

D.Cost method with amortization.

E.Equity method.

85.The price of one currency stated in terms of another currency is called a(n):   

A.Foreign exchange rate.

B.Currency transaction.

C.Historical exchange rate.

D.International conversion rate.

E.Currency rate.

86.All of the following statements relating to accounting for international operations are true except:   

A.Foreign exchange gains or losses can occur when accounting for international sales transactions.

B.Gains and losses from foreign exchange transactions are accumulated in the Fair Value Adjustment Account and are reported on the balance sheet.

C.Gains and losses from foreign exchange transactions are accumulated in the Foreign Exchange Gain (or Loss) account.

D.The balance in the Foreign Exchange Gain (or Loss) account is reported on the income statement.

E.Foreign exchange gains or losses can occur when accounting for international purchases transactions.

87.Foreign exchange rates fluctuate due to changes in all but which of the following?    

A.Political conditions.

B.Economic conditions.

C.Supply and demand for currencies.

D.Expectations of future events.

E.Whether the companies prepare financial statements under U.S. GAAP or IFRS.

88.The currency in which a company presents its financial statements is known as the:   

A.Multinational currency.

B.Price-level-adjusted currency.

C.Specific currency.

D.Reporting currency.

E.Historical cost currency.