Which of the following is not an acceptable way of displaying the components of other comprehensive income?
a. Combined statement of retained earnings
b. Second income statement
c. Combined statement of comprehensive income
d. As part of the statement of stockholders' equity
Answer: a. Combined statement of retained earnings
Business
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The Steel Works, Inc. is required to carry a minimum of 40 days' raw steel, which is 250 tons. It takes 15 days between order and delivery. At what level of steel would Steel Works reorder?
A) 3,750 tons B) 600 tons C) 667 tons D) 344 tons
Business
________ costs are costs that a company incurs whether it sells something or not
A) Fixed B) Consistent C) Steady D) Variable E) Regular
Business