Quiz1c - ADM 2340C Autumn 2007 Quiz 1 Name: Student ID: DO...

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ADM 2340C Autumn 2007 Quiz 1 Name: Student ID: DO NOT OPEN THE QUIZ BOOKLET UNTIL TOLD TO DO SO
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1. (1 point) Unearned Revenue is an example of A) an asset account B) a revenue account C) an expense account D) none of the above 2. (1 point) The amount of rent expense reported on the income statement is A) the amount of cash paid for rent in the current period B) the amount of cash paid for rent in the current period less any unpaid rent at the end of the period C) the amount of rent used up in the current period D) the amount of prepaid rent at the beginning of the period less the amount of rent used up in the current period 3. (1 point) Net Income would appear on the A) Income Statement only B) Income Statement and Balance Sheet C) Income Statement and Statement of Retained Earnings D) Income Statement, Balance Sheet, and Statement of Retained Earnings 4. (1 point) What are the main constraints on accounting information? A) Cost-benefit constraint and materiality constraint B) Relevance constraint, reliability constraint, comparability constraint, and understandability constraint C) Conservatism constraint and neutrality constraint
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Quiz1c - ADM 2340C Autumn 2007 Quiz 1 Name: Student ID: DO...

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