6. As of the end of its accounting period, December 31, Year 1, Great Plains Company has assets of $940,000 and liabilities of $300,000. During Year 2, stockholders invested an additional $73,000 and received $33,000 in dividends from the business. What is the amount of net income during Year 2, assuming that as of December 31, Year 2, assets were $995,000 and liabilities were $270,000?

	a.	$45,000
	b.	$50,000
	c.	$370,000
	d.	$106,000

7. Which of the following are guidelines for behaving ethically?

	I.	Identify the consequences of a decision and its effect on others.
	II.	Consider your obligations and responsibilities to those affected by the decision.
	III.	Identify your decision based on personal standards of honesty and fairness.

	a.	I and III.
	b.	I and II.
	c.	II and III.
	d.	I, II, and III.

8. The income statement is prepared from

	a.	either the adjusted trial balance or the Income Statement columns of the end-of-period spreadsheet
	b.	the Income Statement columns of the end-of-period spreadsheet
	c.	both the adjusted trial balance and the Income Statement columns of the end-of-period spreadsheet
	d.	the adjusted trial balance

9. Which of the following is not a correct rule of debits and credits?

	a.	Liabilities, revenues, and stockholders' equity are increased by credits.
	b.	Assets are decreased by credits and have a normal debit balance.
	c.	The normal balance for revenues and expenses is a credit.
	d.	Assets, expenses, and dividends are increased by debits.

10. Which of the following groups of companies are all examples of a merchandising business?

	a.	GameStop, Sony, Dell
	b.	GameStop, Best Buy, Gap
	c.	Gap, Amazon, NIKE
	d.	Delta Airlines, Marriott, Gap