Interest revenue was recognized
a. as a component of operating income
b. as a non-operating income item (other income or expense)
c. as a discontinued operation
d. as an item of other comprehensive income
Ans: b. as a non-operating income item (other income or expense)
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Ringler Corporation exchanges one plant asset for a similar plant asset and gives cash in the exchange. The exchange is not expected to cause a material change in the future cash flows for either entity. If a gain on the disposal of the old asset is indicated, the gain will
a. be reported in the Other Revenues and Gains section of the income statement. b. effectively reduce the amount to be recorded as the cost of the new asset. c. effectively increase the amount to be recorded as the cost of the new asset. d. be credited directly to the owner's capital account.
An area where in which the zoning regulates the specific balance of shopping, business and recreational facilities is an example of:
a. urban renewal b. mixed zoning c. PUD d. commercial condition zoning