Income tax expense should be accepted to all of the following except
a. cumulative effect of account changes
b. discontinued operations
c. prior period adjustments
d. unusual or infrequent items
Ans: d. unusual or infrequent items
Business
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According to the law of large numbers, as the number of exposure units increases, the average size of loss declines.
a. true b. false
Business
The Federal Reserve can influence the federal funds interest rate by buying securities, which ________ reserves, thereby ________ the federal funds rate
A) adds; raising B) removes; lowering C) adds; lowering D) removes; raising
Business