quizz 1.1 - Points Awarded 35.00 Points Missed 65.00...

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Points Awarded 35.00 Points Missed 65.00 Percentage 35.0% 1. Jimmy’s Repair Shop started the year with total assets of $100,000 and total liabilities of $80,000. During the year the business recorded $210,000 in revenues, $110,000 in expenses, and dividends of $20,000. Stockholders’ equity at the end of the year was A) $100,000. B) $80,000. C) $120,000. D) $90,000. Points Earned: 0.0/5.0 Correct Answer(s): A 2. Which of the following groups uses accounting information to determine whether the company can pay its obligations? A) Marketing managers B) Investors in common stock C) Creditors D) Chief Financial Officer Points Earned: 0.0/5.0 Correct Answer(s): C 3. All publicly traded U.S. companies must provide their shareholders with an annual report each year. A) True B) False Points Earned: 5.0/5.0 Correct Answer(s): True
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4. Which of the following are internal reports that accounting provides to internal users? A) Neither a or b is an internal report. B) Forecasts of cash needs for next year. C) Both a and b are internal reports. D) Financial comparisons of operating activity alternative. Points Earned:
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quizz 1.1 - Points Awarded 35.00 Points Missed 65.00...

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