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Please help me and answer my questions to this exam asap due tomorrow.

I have completed more than half and will continue to work on it. 
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1 West Los Angeles College Accounting 2 Fall 2016 Exam #2 Select the best answer from an accounting point of view. Take notice of special instructions. Use a Scantron answer sheet with a No. 2 or darker pencil. Leave no stray marks. The machine scoring will be final Student: ___________________________________________________________________________ 1. Risk is: A. Net income divided by average total assets. B. The reward for investment. C. The uncertainty about the expected return to be earned. D. Unrelated to expected return. E. Derived from the idea of getting something back from an investment. 2. Determine the net income of a company for which the following information is available for the month of May. A. $190,000. B. $210,000. C. $230,000. D. $400,000. E. $610,000. 3. Net Income: A. Decreases equity. B. Represents the amount of assets owners put into a business. C. Equals assets minus liabilities. D. Is the excess of revenues over expenses. E. Represents owners' claims against assets.
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2 4. The group that attempts to create more harmony among the accounting practices of different countries is the: A. AICPA. B. IASB. C. CAP. D. SEC. E. FASB. 5. Revenue is properly recognized: A. When the customer's order is received. B. Only if the transaction creates an account receivable. C. At the end of the accounting period. D. Upon completion of the sale or when services have been performed and the business obtains the right to collect the sales price. E. When cash from a sale is received. 6. FastLane has net income of $18,955, and assets at the beginning of the year of $200,000. Assets at the end of the year total $246,000. Compute its return on assets. A. 7.7%. B. 8.5%. C. 9.5%. D. 11.8%. E. 13.0%. 7. Quick Computer Service had revenues of $80,000 and expenses of $50,000 for the year. Its assets at the beginning of the year were $400,000. At the end of the year assets were worth $450,000. Calculate its return on assets. A. 7.1% B. 7.5% C. 6.7% D. 20.0% E. 18.8%
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West Los Angeles College Accounting 2 Fall 2016 Exam #2 Select the best answer from an accounting point of view. Take notice of special instructions....
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