exam1 - A financial statement user would determine if a...

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A financial statement user would determine if a company was profitable or not during a specific period of time by reviewing the Income Statement the Balance Sheet the Statement of Cash Flows cannot be determined Question 3 2 points Save If stockholders want to know how money flowed into and out of the company, what financial statement would they use?
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Income Statement Statement of Cash Flows Balance Sheet None are correct Question 4 2 points Save Which of the following is not a principle financial statement?
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Income Statement Statement of Resources Owned Statement of Cash Flows Balance Sheet Question 5 2 points Save The year-end balance of the retained earnings account appears in
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both the statement of retained earnings and the income statement only the statement of retained earnings both the statement of retained earnings and the balance sheet both the statement of retained earnings and the statement of cash flows Question 6 2 points Save Which of the following group of accounts are all assets?
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Cash, Accounts Payable, Buildings Accounts Receivable, Revenue, Cash Prepaid Expenses, Buildings, Patents Unearned Revenues, Prepaid Expenses, Cash Question 7 2 points Save The payment for monthly rent will require the following entry
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Debit cash and Debit Rent Expense credit cash and credit rent expense debit rent expense and credit cash credit rent expense and debit cash Question 8 All of the following occur with a double-entry accounting system except: The accounting equation remains in balance. The sum of all debits is always equal to the sum of all credits in each journal entry. Each business transaction will have only two entries.
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This note was uploaded on 07/16/2011 for the course A 621 taught by Professor Frank during the Spring '10 term at New Hampshire.

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exam1 - A financial statement user would determine if a...

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