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1. When total expenses exceed total revenues, the result is a: (Points : 6) net profit. dividend. net earnings. net loss. 0 1304910679 MultipleChoice...

I would like some assistance with this exam. This is due in an hour. Attached are the 26 multiple choice questions. Thank You.

1. When total expenses exceed total revenues, the result is a: (Points : 6) net profit. dividend. net earnings. net loss. Question 2. 2. The balance sheet lists: (Points : 6) revenues and expenses. assets, liabilities, revenues and expenses. assets, liabilities and stockholders' equity. the changes in retained earnings. Question 3. 3. Which of the following is a limitation of internal control? (Points : 6) Safeguarding company assets Operational efficiency Employee collusion Accurate and reliable accounting records Question 4. 4. In a bank reconciliation, outstanding checks would be added to the book balance. (Points : 6) True False Question 5. 5. When preparing a bank reconciliation, which of the following items should be subtracted from the bank balance? (Points : 6) 0 1304910679 MultipleChoice 2 0 1304910680 MultipleChoice 4 0 1304910681 MultipleChoice 6 0 1304910682 TrueFalse 2
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Outstanding checks Bank service charges Deposits in transit EFT cash receipts Question 6. 6. Which account shows the amount of accounts receivable that the business does NOT expect to collect? (Points : 6) Unearned Accounts Receivable Allowance for Uncollectible Accounts Sales Returns and Allowances Uncollectible Accounts Expense Question 7. 7. Net accounts receivable is calculated as: (Points : 6) accounts receivable plus allowance for uncollectible accounts. accounts receivable less allowance for uncollectible accounts. sales less sales returns and allowances. accounts payable plus allowance for uncollectible accounts. Question 8. 8. Under the allowance method, the entry to reinstate an account previously written off: (Points : 6) decreases net income and increases total assets. increases net income and increases total assets. has no effect on net income or total assets. increases total assets. 0 1304910683 MultipleChoice 7 0 1304910684 MultipleChoice 10 0 1304910685 MultipleChoice 11
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Exam (1).docx

1. When total expenses exceed total revenues, the result is a: (Points : 6)
net profit.
dividend.
net earnings.
net loss. 0 1304910679 MultipleChoice 2 Question 2. 2. The balance sheet lists:...

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