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SampleEarlyAssessmentQuiz - MIM517 Accounting for Global...

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MIM517 – Accounting for Global Enterprises Sample Early Assessment Questions 1. What information can be found on an income statement? a. Revenues, expenditures, net profit or loss, and net profit or loss per share. b. A reconciliation of the beginning and ending balances of all revenue accounts. c. The financing and investing activities during an accounting period. d. Cash inflows and cash outflows. 2. Which of the following is NOT another name for net income? 3. Which of the following is TRUE about retained earnings? 4. In which of the following could you find information about a company’s accounting policies? 5. Information about which of the following is NOT found in a company’s proxy statement? a. Corporate social responsibility b. Executive compensation c. Members of the board of directors d. The external auditors 6. How are revenues and expenses recognized under the accrual basis of accounting?
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