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To report the success or failure of the companys

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9.To report the success or failure of the company’s operations during the period is the purpose of thea.statement of income.b.statement of changes in equity.c.statement of financial position.d.statement of cash flows.
10.Borrowing money is considered what type of business activity?
11.Paying dividends declared is considered what type of business activity?
12.Purchasing a building is considered what type of business activity?
13.A publicly traded corporation needs to follow which type of accounting standards?a.International financial reporting standardsb.Accounting standards for private enterprisesc.Not-for-profit accounting standardsd.Public company standards
14.Which of the following variations of the accounting equation isincorrect?
15.The statement of financial position is also commonly called the
ANSWERS TO MULTIPLE CHOICE QUIZa

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Term
Winter
Professor
N/A
Tags
Balance Sheet, Generally Accepted Accounting Principles, d, c

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