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FASB Statements 22-45

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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. 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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