Definitions Provide Clear, Concise Answers for the Following:1. What Are Revenues

question 61

Essay

Definitions
Provide clear, concise answers for the following:1. What are revenues?
2. What are expenses?
3. What are gains?
4. What are losses?
5. How should unusual gains and losses be disclosed in the income statement?
6. When does a discontinued segment qualify as discontinued operations?
7. How are earnings per share calculated?
8. State two examples of adjustments to prior years' retained earnings and indicate how they are reported in the financial statements.
9. The IASB is planning significant changes regarding the presentation of financial statements. What plans does the IASB have?

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Definitions:

Radio Frequency (RFID) Tags

Small electronic devices that use radio waves to transmit data for the purpose of identifying and tracking objects.

Electricity Conduct

The ability of a material to allow the flow of electrical current through it; essential for the functioning of electronic devices and power transmission.

Technological

Relating to or involving technology, especially concerning the development, application, and impact of technological devices and systems.

Connected Refrigerator

A type of smart appliance that uses internet connectivity to offer additional features such as inventory tracking and remote control.