#1. Closing balance of cash can be obtained by drawing up a _________
#2. Which of the following transaction would have no impact on stockholders equity?
#3. Accounting is the set of concepts and techniques that are used to measure and report financial information about an economic unit
#4. Assets are usually reported on the balance sheet at which account ?
#5. The private sector that currently overseas external financial reporting is the?
#6. Accounting entries involves a minimum of how many accounts?
#7. A financial statement that reports a company’s assets, liabilities and shareholders’ equity at a specific point in time, and provides a basis for computing rates of return and evaluating its capital structure. It is a financial statement that provides a snapshot of what a company owns and owes, as well as the amount invested by shareholders
#8. Net profit + operating expenses =
#9. Money owed to customers is ______________
#10. Business entries are recorded originally in _________
#11. Which of these items would be accounted for as an expense?
#12. Which of the following would not be included on a balance sheet?
#13. Some of the more common balance sheet accounts and how they are further arranged in the general ledger include all the following except?
#14. __________ is the excess of a company’s revenue over expenses for a given time period.
#15. Which of the following equations properly represents a derivation of the fundamental accounting equation?
#16. Which of the following has the right to basic voting in corporation?
#17. The primary private sector agency that oversees external financial reporting standards in the:
#18. Retained earnings will change over time because of several factors. Which of the following factors would explain an increase in retained earnings?