MGMT 210 Module 2 Quiz #1.docx - MGMT 210 Financial Accounting Module 2 Quiz#1 1 Which of the following entries would be made because of the matching

MGMT 210 Module 2 Quiz #1.docx - MGMT 210 Financial...

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MGMT 210 Financial AccountingModule 2 Quiz #11. Which of the following entries would be made because of the matchingprinciple?A. Rent Expense2,500Unearned Rent2,500B. Rent Expense2,500Prepaid Rent2,500C.Rent Expense2,500Rent Revenue2,500D. Unearned Revenue2,500Cash2,5002. An adjusted trial balance does not list the revenues and expenses of a business.3. What is the effect of the adjusting entry for DepreciationExpense?4. The statement of retained earnings informs users about how much of the earnings were kept and reinvested in the company.5. The balances in the liability and revenue accounts are increased with a credit.6. Converse Florists&Co. reported assets of$1,000and equity of$450.What is its debtratio?(Round your percentage answer to two decimalplaces.)
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