2. The best definition of revenue is: the dollar amounts of resources used by the organization b. the cash generated by the organization's operating activities the cash received by the organization from the sale of goods and services d. the amounts received, or expected to be received, by the organization for goods a. C. services delivered to a customer or 3. Gino's Pastry Shop sold a building for $170,000 in cash. The cost was $450,000 and the accumulated depreciation $290,000. Which statement is true? was Property, Plant and Equipment will increase by the amount of $450,000. b. Gain on Sale of Equipment will be recorded in the amount of $10,000. Accumulated Depreciation will decrease by the amount of $120,000 d. Loss on Sale of Equipment will be recorded in the amount of $20,000 a. C. 4. The Debt-to-Equity ratio is Total Liabilities divided by Total Shareholders' Equity The Debt ratio is Total Liabilities divided by the sum of Total Liabilities and Total Shareholders' Equity. Red Company has Total Liabilities of $100,000 and Total Stockholders' Equity of $75,000. What is the Debt-to-Equity ratio, and the Debt ratio, respectively? 75.0% and 175.0% a. b. 133.33% and 57.14% c. 42.86% and 80.0% d. 145.22% and 33.33% 5. Which situation is the best example of an effective internal control? the smoke detectors in the factory building have not been tested for a year b. new employees are expected to do their jobs without any training c. top executives are d. every company check (payment) over $25,000 must have only one signature a. expected to agree with the company's code of ethics