ACCT105 Week 1 Quiz.docx - ACCT105 Week 1 Quiz Return to...

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ACCT105 Week 1 Quiz Return to Assessment List Part 1 of 1 - 60.0/ 100.0 Points Question 1 of 10 10.0/ 10.0 Points The equity ratio is equal to stockholders’ equity divided by total assets. True False Answer Key: True 642087 ACCT105 Week 1
Question 2 of 10 10.0/ 10.0 Points The accounting equation should be in balance only at the end of the year when the income of the period is determined.
Question 3 of 10 0.0/ 10.0 Points A financial statement that has a date line similar to “For the month ended June 30, 20XX,” is a(n):
B. Balance sheet. C. Income statement. D. None of the above. Answer Key: C Question 4 of 10 10.0/ 10.0 Points The laws of incorporation of each state require that the partnership agreement list the duties of each partner and the distribution of income and loss to the partners.

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