Complete the following table. Provide a brief description of the literature included for each level of the U.S. GAAP Literature Hierarchy. \[\begin{array} { | l | l | } \hline \text { Level } & \text { Brief description } \\ \hline \text { Level 1 } & \\ \hline \text { Level 2 } & \\ \hline \text { Level 3 } & \\ \hline \end{array}\]

\[\begin{array} { | l | l | } \hline \t

Exam 3: Judgment and Applied Financial Accounting Research

You just landed your dream job - doing accounting for a small, organic farm! Due to high demand for the popular honeycrisp apples, the owner is looking to expand. She has asked you to prepare a set of financial statements for the bank to review with her loan application. The apples have been picked and boxed up, but have not been sold or shipped yet. You are unsure how to report the apples on the balance sheet. You have never dealt with inventory valuation for agricultural products. Complete the first two steps of the research process based on the information provided in this problem.

(Essay)

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Question 141

________ occurs when managers manipulate financial information and misrepresent the firm's financial position and performance.

(Multiple Choice)

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Question 142

Complete the following table. Provide a brief description of the literature included for each level of the U.S. GAAP Literature Hierarchy. Level Brief description Level 1 Level 2 Level 3

(Essay)

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Question 143

In ASC 450-20-35-2, 20 represents the ________.

(Multiple Choice)

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Question 144

Showing 141 - 144 of 144

________ occurs when managers manipulate financial information and misrepresent the firm's financial position and performance.

Complete the following table. Provide a brief description of the literature included for each level of the U.S. GAAP Literature Hierarchy. Level Brief description Level 1 Level 2 Level 3

In ASC 450-20-35-2, 20 represents the ________.

The Financial Reporting Environment

Financial Reporting Theory

Review of the Accounting Cycle

Statements of Net Income and Comprehensive Net Income

Statements of Financial Position and Cash Flows and the Annual Report

Accounting and the Time Value of Money

Revenue Recognition

Extenssion: Ol Revenue Recognition Previous Standard

Short-Term Operating Assets: Cash and Receivables

Short-Term Operating Assets: Inventory

Long-Term Operating Assets: Acquisition, Cost Allocation

Long-Term Operating Assets: Departures From Historical Cost

Operating Liabilities and Contingencies

Financing Liabilities

Accounting for Stockholders Equity

Investing Assets

Accounting for Income Taxes

Accounting for Leases

Extension: Ol Accounting for Leases Current Standard

Accounting for Employee Compensation and Benefits

Earnings Per Share

Accounting Corrections and Error Analysis

The Statement of Cash Flows

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