Question
1. The account that reflects the amount the owners have invested in the business is: Capital Stock ? A. Capital stock B. Retained earnings C.
1. The account that reflects the amount the owners have invested in the business is: Capital Stock ?
| A. Capital stock |
| B. Retained earnings |
| C. Long-term liabilities |
| D. Long-term assets |
| E. None of the above |
Which of the following ratios depicts investment efficiency? Asset Turnover
| A. Asset turnover |
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| B. Current |
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| C. Quick |
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| D. Payout |
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| E. None of the above |
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Projecting inventory levels for next year would be an example of - I think Managerial
| A. Financial accounting |
| B. Managerial accounting |
| C. Tax accounting |
| D. None of the above |
Arson Incorporated's balance sheet lists assets at historical cost less accumulated depreciation. This GAAP is known as I think Conservatism ?
| A. Monetary concept |
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| B. Economic entity |
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| C. Going concern |
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| D. Conservatism |
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| E. None of the above |
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Which of the following is a source of cash? I think Increase in accounts payable
| A. Increase in accounts receivable |
| B. Increase in inventories |
| C. Increase in accounts payable |
| D. None of the above |
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