1. Quiz 02

2. Lowest scores 2.776changes 2.8512allocation of transaction price 2.9713variable consideration 3.192cost of goods sold 3.219steps in revenue recognition 3.323gross profit 3.488 activities in statement of cash flow

3. Show work for partial credit

4. Discontinued operations #5gains result in income tax expense a loss results in tax benefit

5. Don’t be too brief #9 & #10this is not a 5 point answer Contractaccepted Obligationspossession Pricelegal right Allocationrisk / reward Earnedmust pay

6. Old tests are not an adequate study guide Tests are not adequate to learn from You must read the book and work homework problems #14 & #15 You can shortcut the second year of a two year problem You cannot shortcut the second year of a three year problem