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Acct hw 1 answers

Acct hw 1 answers - Acct hw 1 answers 1 Easy transfer of...

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Acct hw 1 answers 1. Easy transfer of ownership is a characteristic of which form of business organization? Corporations. The ownership of corporations through shares ease the transfer of ownership through sale, gift or trading of the stock 2. Which of the following is not an external user of accounting data? Finance director. Since the finance director is within the organization and has access to info not released to the public, he or she is an internal user of accounting data. 3. In terms of the principal types of business activities, paying interest expense and receiving interest revenue are examples of… Operating activities. Since interest expense and interest revenue are usually part of the everyday operations of the company, they are operating activities. 4. If total liabilities decreased by $15,000 and stockholders’ equity increased by $5,000 during a period of time, then total assets must change by what amount and direction during the same period? $10,000 decrease. The equation of assets is
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