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1. The second step in accounting cycle is to A. Prepare financial statements B. Post journal entries to ledger accounts C. Prepare a trial balance
1. The second step in accounting cycle is to A. Prepare financial statements B. Post journal entries to ledger accounts C. Prepare a trial balance D. None of the above 2. If a book store has working capital of 25,000 yuan and current assets of 75,000 yuan, the current ratio of the restaurant is A. 0.5 B. 1 C. 1.5 D. 2 1/7 3. If, for the current f'iscal period, the Sales is 200,000 yuan, Sales returns and allowances is 35.000 yuan. Sales discount is 25.000 yuan. Cost of goods sold is 105,000 yuan, then the Gross profit rate is) A. 78% B. 52.5 C. 25% D. 17.5% 4. If a journal entry increase an asset account, the other part of the entry might () 1. Decrease an asset account. B. Increase revenue account C. Increase a liability account D. All of the above
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