11. Company XYZ is a taxi company whose only revenues are from transporting customers. If XYZ sells one of its old taxi's for a price higher than what it is recorded in the books it would record: A. Revenues for the difference between the selling price and its book value B. A Gain for the difference between the selling price and its book value C. Expenses for the difference between the book value and its selling price D. A Loss for the difference between the book value and its selling price 12. A firm's Statement of Changes in Stockholders' Equity shows an ending Total Stockholders' Equity balance of $90,000 at the end of 2015. In 2016, the company issued new shares of common stock for a total of $35,000, reported a net income of $5,000, and paid $3,000 in dividends to their shareholders. The firm's 2016 Statement of Changes in Stockholders' Equity will show an ending Total Stockholders' Equity balance of A. $125,000 B. $120,000 C. $130,000 D. $127,000 13. This statement is composed of three sections: Operating, Investing, and Financing: A. The Statement of Cash Flows B. The Income Statement C. The Balance Sheet D. The Operating and Financing Statement 14. If assets equal $500,000, liabilities equal $185,000 and Cash flows from operating activities equal $10,000. What is stockholders' equity? A. $325,000 B. $675,000 C. $315,000 D. $695,000 15. The accounting concept which stresses that the benefit of increased accuracy should outweigh the cost of achieving the increased accuracy is the: A. Materiality Concept B. Matching Concept C. Accrual Concept D. Cost Principle