MGMT 210 2.6 Quiz
1.)Which of the following appears on both the statement of retained earnings and the balance sheet?
2.)The ultimate control of the corporation rests with the ______.
3.)Outside investors ordinarily use financial accounting information to decide whether or not to invest in a business.
4.)Deferred expenses are also called prepaid expenses.
5.)Which of the following entries would be recorded by a company that uses the cash basis methodof accounting? 6.)A T-account is a summary device with credits posted on the left side of the vertical line.
7.)The debt ratio is one indication of the ability of a company to fulfill its obligation to repay liabilities.
8.)Which of the following is classified as an asset account?
