Answer:
The correct answer is letter "D": Basis of accounting used by an entity to comply with the financial reporting requirements of a lending institution.
Explanation:
According to the Generally Accepted Accounting Principles (GAAP) <em>income tax accounting, cash basis accounting, modified cash basis of accounting, </em>and <em>basis of accounting to comply with a mandatory governmental authority </em>are valid to prepare financial statements. Any other method is forbidden.
revolving credit agreement
Answer: $27,864
Explanation:
The amount that should be recorded as other comprehensive income is the fair value less the sales price and the amortized premiums to reflect the true value of the investment,
= 1,164,000 - 1,129,896 - 3,048 - 3,192
= $27,864
$27,864 is the amount Crane Company should report as other comprehensive income and as a separate component of stockholders’ equity.