1. Which of the following events is not a transaction that would be recorded in a company's accounting records?

A. The purchase of equipment for cash

B. The purchase of equipment on account

C. Investment of additional cash in the business by the owner

D. The Death of a key executive

2. On the statement of financial portion, how are assets and liabilities normally presented?

A. Assets are presented in order of liquidity: liabilities are presented in the order in which they become due

B. Assets are presented in order in which they become due; liabilities are presented in the order of permanence

C. Assets are presented in order of profitability; liabilities are presented in the order of liquidity

D. Assets are presented in the order of liquidity; liabilities are presented in order of profitability

3. Which of the following would usually be the greatest amount?

A. The number of shares authorized

B. The number of shares issued

C. The Number of shares outstanding

D. The number of shares of Treasury Stock