Multiple Choice ldentify the choice that best completes the statement or answers the quest 1. Which of the following approaches to incom a. Economic approach b. Physical capital maintenance approach c. Valuation approach d. Transaction approach e measurement underlies financial accounting and reporting? 2. Mejarus Co.'s adjusted trial balance at December 31, 2011, includes the following account balances: Common Stock, $3 par .. Additional Paid-In Capita! Treasury Stock, at cost.. Net Unrealized Loss on Available-for-Sale Securities . Retained Earnings: Appropriated for Uninsured Earthquake Losses Retained Earnings: Unappropriated $360,000 480,000 30,000 12,000 90,000 120,000 hat a. $1,008,000 b. $1,068,000 c. $1,092,000 d. $1,032,000 amount should Mejarus report as total stockholders' equity in its December 31, 2011, balance sheet? 3. Which of the following is correct? The discontinued operations section of the income statement consists of the income or loss from operating the discontinued component net of the tax effect as well as the gain or loss on disposal of the discontinued component net of the tax effect. he discontinued operations section of the income statement consists only of the gain or loss on disposal of the discontinued component net of the tax effect. The discontinued operations section of the income statement consists only of the income or loss from operating the discontinued component net of the tax effect. Discontinued operations are shown as the last category after income from continuing operations. b T c. d