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:

Erythrocytes

Red blood cells that are responsible for carrying oxygen from the lungs to all parts of the body and returning carbon dioxide to the lungs for exhalation.

Fibrinogen

A blood plasma protein that's converted to fibrin in the clotting process, essential for wound healing.

Thrombocyte

Another term for platelets, which are blood cells involved in clotting and wound healing.

Erythrocyte

A red blood cell that carries oxygen from the lungs to the body tissues and carbon dioxide from the tissues back to the lungs.