1. What type of account is accumulated depreciation? A) B) C) D) Asset Expense Contra asset Liability A. B. C. D. 2. Which of the following is the amount of revenue reported on the income statement of a retail company? The cash collected from customers during the current period. Both cash and credit sales for the period. Cash sales for the period. Cash sales and stockholders' investments. 3. Archibald Company has provided the following information: Operating expenses were $231,000; Cost of goods sold was $376,000; Net sales were $940,000; Interest expense was $32,000; Gain on sale of a building was $76,000; Income tax expense was $151,000. What was Archibald's net income or earnings? A. $226,000 $333,000 C. $377,000 D. $564,000 B. 4. Which of the following represents the maximum number of shares of stock issuable to the public? a. Authorized shares b. Issued shares c. Treasury shares d. Outstanding shares