Chapter 1 Questions

Chapter 1 Questions - Chapter 1 In-class quiz a....

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Unformatted text preview: Chapter 1 In-class quiz a. Government, cooperatives, and philanthropic organizations b. Financing, investing, and operating c. Sole proprietorships, partnerships, and corporations d. Wholesaler, manufacturer, and retailer 1. The three forms of business entities are: a. Government, cooperatives, and philanthropic organizations b. Financing, investing, and operating c. Sole proprietorships, partnerships, and corporations d. Wholesaler, manufacturer, and retailer 1. The three forms of business entities are: a. You are an owner of the retained earnings and capital stock of the company. b. You have a claim to the assets of the business c. You have the right to receive interest on an annual basis. d. You have the right to a portion of the companys revenues each accounting period. 1. Which of the following statements would be true if you own stock in a company? a. You are an owner of the retained earnings and capital stock of the company. b. You have a claim to the assets of the business c. You have the right to receive interest on an annual basis. d. You have the right to a portion of the companys revenues each accounting period. 1. Which of the following statements would be true if you own stock in a company? a. Revenues represent an outflow of assets resulting from the sale of goods or services. b. Revenues represent assets received from the sale of products or services. c. Revenues represent assets used or consumed in the sale of products or services. d. Revenues represent the dollar amount if bonds sold to the public. 1. Which of the following statements best describes the term revenues ? a. Revenues represent an outflow of assets resulting from the sale of goods or services....
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Chapter 1 Questions - Chapter 1 In-class quiz a....

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