1. This is the independent federal agency protecting the interests of investors, regulating stock markets, and ensuring companies adhere to GAAP requirements.

Group of answer choices

a.Securities and Exchange Commission (SEC)

b.Financial Accounting Standards Board (FASB)

c.generally accepted accounting principles (GAAP)

d. conceptual framework

2. That companies can present useful information in shorter time periods such as years, quarters, or months is known as which of the following? Group of answer choices

time period assumption

separate entity concept

monetary measurement concept

going concern assumption

3. Unearned service revenue occurs when which of the following occurs?

Group of answer choices

company receives cash from a customer before performing the service

company pays cash before receiving a service from a supplier

company pays cash after receiving a service from a supplier

company receives cash from a customer after performing a service

4. Which of these accounts is an asset?

Group of answer choices

Supplies

Common Stock

Accounts Payable

Fees Earned