15) A company's sales in Year I were $410,000 and in Year 2 were $447 500. Using Year 1 as the base year, the percent change for Year 2 compared to the base year A) 100%. B)9%. E) 92%. C) 10% D) 8%. 16) The accounting principle that requires revenue to be recorded when earned is the: A) Going-concern assumption B) Revenue recognition principle C) Matching principle. D) Time period assumption. E) Accrual reporting principle. 17) A bondholder that owns a S 1.000, 10%,10-year bond has: A) The right to receive $10 per year until maturity B) The right to receive $10,000 at maturity C) The right to receive dividends of $1,000 per year D) Ownership rights in the issuing company E) The right to receive $1,000 at maturity. information that helps users understand a company's financial date, 18) A financial statement providing status, and which lists the types and amounts of assets, liabilities, and equity as of a specific is called a(n): A) Statement of retained earnings. B) Income statement. C) Balance sheet. D) Statement of cash flows E) Financial Status Statement. 19) Saddleback Company paid off $30,000 o of this transaction on the accounting equation? A) Assets, $30,.000 decrease; liabilities, $30,000 increase. B) Liabilities, $30,000 decrease; equity, $30,000 increase. C) Assets, $30,000 decrease; equity $30,000 decrease. D) Assets, $30,000 increase; equity, $30,000 increase. E) Assets, S30,000 decrease:; liabilities, $30,000 decrease. f its accounts payable in cash. What would be the effects 20) Contessa Company collected $42,00 cash on its accounts receivable. The effects of this transaction as reflected in the accounting equation are: A) Neither assets, total liabilities, nor equity are changed. B) Both total assets and total liabilities decrease. C) Both total assets and equity are unchanged and liabilities increase. D) Total assets decrease and equity increases. E) Total assets increase and equity decreases