#1. Retained earnings will change over time because of several factors. Which of the following factors would explain an increase in retained earnings?
#2. Closing balance of cash can be obtained by drawing up a _________
#3. Some of the more common balance sheet accounts and how they are further arranged in the general ledger include all the following except?
#4. 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
#5. Assets are usually reported on the balance sheet at which account ?
#6. Accounting is the set of concepts and techniques that are used to measure and report financial information about an economic unit
#7. Which of the following would not be included on a balance sheet?
#8. Which of the following equations properly represents a derivation of the fundamental accounting equation?
#9. Which of the following transaction would have no impact on stockholders equity?
#10. Accounting entries involves a minimum of how many accounts?
#11. The private sector that currently overseas external financial reporting is the?
#12. Which of the following has the right to basic voting in corporation?
#13. Business entries are recorded originally in _________
#14. __________ is the excess of a company’s revenue over expenses for a given time period.
#15. Which of these items would be accounted for as an expense?
#16. Net profit + operating expenses =
#17. Money owed to customers is ______________
#18. The primary private sector agency that oversees external financial reporting standards in the:
Powell
Welcome to the site. I am a certified nurse who enjoys teaching students to improve in their studies/exams We provide a wide range of questions and answers on the following subjects: Mathematics, English Language, Human and Social Biology, Social Studies, Principle of Accounts, Information Technology, Physics, Science, Biology, and Chemistry. Sample SBA, Exam tips, and much more. We aim to enable persons to practice a subject they might find challenging. All quizzes consist of mostly past paper questions, which will help persons to get better exam passes. We advise that participants continue to practice these quizzes to gain further knowledge.