30 MCQ Deck Ch 1 Topics

Question 1

Are legals fees billed or unbilled included in the calc for professional fees expenses?

Answer 1

YES

Question 2

When calc the total revenue do we need to include the interest and gain as apart of revenue?

Answer 2

Yes it helps us determine the revenue the company has generated

Question 3

When doing the calc for accrual basis pretax income for the year pretax income

Answer 3

You can calc it same way to calc the cashflow direct method