FASB Statements 22-45

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.

NOTE: To see each answer, place your cursor in the middle of the cell under "Unscrambled Answer".

	Word Clue	Scrambled Answer	Unscrambled Answer
1.	Statement of Financial Accounting Standards No. 22 (SFAS 22) amends SFAS 13 on leases in the area of tax-__________ debt.	PETEXM	EXEMPT
2.	SFAS 23 amends SFAS 13 on the ______________ of a lease.	CONETIPIN	INCEPTION
3.	SFAS 27 amends SFAS 13 regarding the classification of renewals or extensions of existing sales-type or direct ____________ leases.	GAINNCFIN	FINANCING
4.	SFAS 28 is entitled Accounting for Sales with _____________—an amendment of FASB Statement No. 13.	SCBALESEAK	LEASEBACKS
5.	SFAS 29 focuses on determining _______________ rentals involved in a lease.	GTONENICTN	CONTINGENT
6.	SFAS 34 and SFAS 42 pertain to the _________________ of interest cost.	ZAPTACOINLAITI	CAPITALIZATION
7.	SFAS 35 involves ___________ benefit pension plans.	NEEDDIF	DEFINED
8.	SFAS 37 provides guidance on the balance sheet classification of _____________ income taxes.	REEFDERD	DEFERRED
9.	SFAS 43 involves compensated _____________.	SCEBEANS	ABSENCES
10.	SFAS 45 is entitled Accounting for _____________ Fee Revenue.	SHEARFINC	FRANCHISE

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