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QUESTION 15 Which of the following is not classified properly as a current asset? Debt investments A receivable from the sale of an asset to be collected in 1.5 years Supplies A fund to be used to purchase a building within the next year QUESTION 16 If total liabilities increased by $500, then assets must have increased by $500, or stockholders' equity must have decreased by $500. assets must have increased by $500. assets and stockholders' equity each increased by $250. stockholders' equity must have decreased by $500. QUESTION 17 Which of the following is an asset? O Trademarks Unearned Revenue Mortgage Payable Retained Earnings QUESTION 13 O e- During January 2014, Carey Services Inc. paid a cash dividends of $1,500. This transaction reduces stockholders' equity by $1,500. increases expenses by $1,500. increases stockholders' equity by $1,500. reduces net income by $1,500. QUESTION 14 Which of the following financial statements is divided into major categories of operating, investing, and financing activities? The income statement The statement of cash flows. The balance sheet. The retained earnings statement