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Series 86 Missed Questions a questions and answers certified 2024
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Series 86 Missed Questions a questions and answers certified 2024
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Series 86 Missed QuestionsThe Neutron Star Company has a high debt to total capitalization ratio. Which
of the following sources of information should be evaluated to determine the
effect of debt retirement and refunding?
A) Statement of Cash Flow—Operating Activities
B) Statement of Cash Flows—Financing Activities
C) Statement of Cash Flows—Investing Activities
D) Balance Sheet Liabilities - correct answer ✔B
A company switching its inventory accounting method from first-in, first-out
(FIFO) to last-in, first-out (LIFO) during an inflationary environment will
experience which TWO of the following choices?
1. The cost of goods sold will increase
2. The cost of goods sold will decrease
3. The income tax will increase
4. The income tax will decrease - correct answer ✔1 and 4
RYX Waste Development has increased its ownership of JV Recyclers from
49% to 51%. What changes would be expected on the RYX balance sheet?
A) Assets would decline and shareholder's equity would increase
B) Assets, liabilities and equity would increase
C) Liabilities would decline and equity would increase
D) Equity would increase if JV Recyclers was profitable - correct answer ✔B
Ownership levels of 20% to 50% use the equity accounting method for
minority ownership. Investments are carried as an asset. When ownership
exceeds 50%, consolidation is used for accounting. The assets, liabilities, and
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