quizz 1.3 - 1. The economic resources that are owned by a...

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1. The economic resources that are owned by a business are called stockholders’ equity. A) True B) False Points Earned: 0.0/5.0 Correct Answer(s): False 2. Marvin Services Corporation had the following accounts and balances: If total stockholder's equity was $19,000, what would be the balance of the Building Account? A) $27,000 B) $7,000 C) $29,000 D) $9,000 Points Earned: 0.0/5.0 Correct Answer(s): D 3. Which of the following is not a common way that managers use the balance sheet? A) To analyze the balances of assets, liabilities, and stockholders’ equity throughout the accounting period B) To analyze the balance between debt and common stock financing C) To analyze the balance of accounts receivable on the last day of the accounting period D) To determine if the cash balance is sufficient for future needs Points Earned: 5.0/5.0 Correct Answer(s): A
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4. A balance sheet shows A) expenses, dividends, and stockholders’ equity. B) assets, liabilities, and stockholders’ equity. C) revenues, expenses, and dividends. D) revenues, liabilities, and stockholders’ equity. Points Earned: 5.0/5.0 Correct Answer(s): B 5. Which of the following would not be considered an internal user of accounting data for the Xanadu Company? A)
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This note was uploaded on 06/21/2011 for the course GOVT 1301 taught by Professor Capentor during the Spring '11 term at Cy-Fair College.

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quizz 1.3 - 1. The economic resources that are owned by a...

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