ACCT 500 Final Examination December 12, 2019 GU net id _____________ SOLUTION Multiple choice (2 points each question)
__ 1. Which of the following is the best explanation of the purpose of adjusting entries?
Which of the following terms bestdescribes a distribution of the net income of a business to its owners?
___ 3. Bettis Bus Company collects $4,000 in advance from a customer for three years’ insurance coverage. As a result, A. Bettis' net working capital increases. B. Bettis’ net working capital decreases.C. Bettis’ net working capital is unchanged.D. Bettis’ net income increases.__B___ 4.