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FASB Statements 1-19

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The following questions pertain to Statements of Financial Accounting Standards (SFAS), which have been issued by the Financial Accounting Standards Board (FASB). You can read the FASB's official pronouncements at no cost on its website www.FASB.org.


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 1. Immediately preceding the FASB, official accounting pronouncements known as Opinions were issued by the Accounting ____________ Board. SPLICERPIN PRINCIPLES
 2. Statement of Financial Accounting Standards No. 2 (SFAS 2) was issued in 1974 and pertains to ___________ and development costs. HERCARES RESEARCH
 3. SFAS 3 is entitled Reporting Accounting Changes in _____________ Financial Statements—an Amendment of APB Opinion No. 28. MRITENI INTERIM
 4. SFAS 5 and SFAS 11 involve the accounting for gain and loss ___________________. TENSINENOGCIC CONTINGENCIES
 5. SFAS 6 is entitled Classification of Short-Term Obligations Expected to Be _____________—an amendment of ARB No. 43, Chapter 3A. DINERFACEN REFINANCED
 6. SFAS 7 involves the accounting and reporting of ________________ stage enterprises. PEEVEDNOTLM DEVELOPMENT
 7. SFAS 13 is entitled Accounting for ________. ESALES LEASES
 8. SFAS 15 provides the accounting for troubled debt ___________________. GRETURSITRCUNS RESTRUCTURINGS
 9. SFAS 16 is entitled Prior Period ___________________. STUDJAMNEST ADJUSTMENTS
10. SFAS 19 and SFAS 25 provide accounting rules for oil and gas _______________ companies. CROPDUING PRODUCING



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