"Angela, a recent applicant for a $50,000 life insurance policy, failed to state on her application that she suffered a heart attack a year earlier, fearing it would affect her insurability. Which of the following terms describes Angela's action?

A material item which is unusual in nature or infrequent in occurrence, but not both should be shown in the income statement: Net of Tax, Disclosed Separately

a. No No b. Yes Yes c. No Yes d. Yes No

Which of the following sequences is the normal sequence of flow of accounting data?

A) Ledger ? Journal ? Source document B) Journal ? Source document ? Ledger C) Source document ? Journal ? Ledger D) Source document ? Ledger ? Journal