ch2 - Q1 Which of the following terms does NOT mean the...

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Q1 Which of the following terms does NOT mean the same as the others? Selected Answer: xxxxx LP Q2 Which of the following accounts is increased with a credit? Selected Answer Fees Earned Q3 The cash return on assets shows how much cash is generated by each dollar of Selected Answer: assets invested in operations. Q4 Which of the following accounts has a normal credit balance? Selected Answer: Advertising Fees Earned. Q5 The declaration and payment of a dividend will Selected Answer: decrease stockholders’ equity. Q6 If Accounts Payable has debit postings of $17,000 credit postings of $14,000 and a normal ending balance of $6,000 what was its beginning balance? Selected Answer: $9,000 Cr. Q7 Which of the following gives the correct sequence of accounting procedures? Selected Answer: Journal, ledger, trial balance, financial statements Q8 The issue of deciding when to record a transaction is solved by Selected Answer: deciding on a point of recognition. Q9
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This note was uploaded on 06/18/2008 for the course ACCT 201 taught by Professor Amy during the Spring '08 term at Baltimore City.

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ch2 - Q1 Which of the following terms does NOT mean the...

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