Examlex

Solved

List Five Items That the FASB Specifically States Cannot Be

question 146

Essay

List five items that the FASB specifically states cannot be considered extraordinary.


Definitions:

Finance Charges

Fees that are assessed for the use of credit or the extension of existing credit, might include interest, transaction fees, and service charges.

Collection Agency

is an organization that pursues the collection of debts owed by individuals or businesses on behalf of creditors.

Threatening to Sue

Expressing an intention to initiate legal action against someone.

Dodd-Frank Act

A United States federal law that places regulation of the financial industry in the hands of the government, aimed at reducing risks in the financial system.

Related Questions