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#1. Which of the following name is NOT associated with the income statement?
#2. A company disposes of equipment that it no longer uses in its business. The amount received by the company is more than the amount the asset is carried at in the accounting records. The company will report a(n) ( ).
#3. On December 1 a company borrowed $100,000 at 12% per year. The interest will be paid quarterly, with the first payment due on March 1. What should the company report on its income statement for December?
#4. “Amortization is an expense that is displayed on the Income Statement.” The word “expense” here almost has the same meaning as:
#5. Intangible assets are Incorporation costs, Internet domain, Trademarks and ( ).
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