Question: 1. Distinguish between the discrete and integral views of quarterly information disclosure.
2. What evidence supports the statement that SFAS No. 131 is Improvement over SFAS No. 14
3. Either a current intermediate accounting text or a guide to current "generally accepted accounting principles." Give at least one example for each of the four cells of (your instructor may desire to modify this problem).
4. Give as many examples as you can of flexibility under current generally accepted accounting principles.