Corporate Social Responsibility is defined as:

	A.	A concern for the impact of a business's actions on society as a whole.
	B.	A code that helps in dealing with confidential information.
	C.	A process required by the Security and Exchange Commission (SEC).
	D.	Requires that all businesses conduct social audits.
	E.	Is mandated by the federal government.

Generally Accepted Accounting Principles (GAAP):

	A.	Focus on the review of a situation.
	B.	Do not require financial statements.
	C.	Never change.
	D.	Intend to make information on the financial statements relevant, reliable, and comparable.
	E.	Are used to oversee the Security and Exchange Commission.

The owners of a partnership :

	A.	Have created an entity that can also be called a sole proprietorship.
	B.	Have unlimited liability for debts of the business.
	C.	Must have a written partnership agreement in order to be legal.
	D.	Have created a legal organization separate from its owners.
	E.	Are called shareholders.

Net income:

	A.	Decreases equity
	B.	Represents the amount of assets owners put into a business
	C.	Equals assets minus liabilities.
	D.	Is the excess or shortfall of revenue less expenses.
	E.	Represents the owners' claims against assets after all liabilities are satisfied.

Source documents:

	A.	Must be in electronic form
	B.	Are the origins of recording economic accounting information
	C.	Are optional when entering an accounting transaction if they can be obtained if needed
	D.	Include the chart of accounts

A record of all the increases and decreases in a specific, single asset, liability, or equity account is a(n):

	a.	Journal
	b.	Posting
	c.	Trial Balance
	d.	General Ledger Account
	e.	Chart of account

Unearned revenues and prepaid expenses are used to enter accounting transactions where:

A.	Payment will be received in cash or paid in cash in the future.
	B.	Payment was received in cash before performing work, or cash was paid in advance of having work performed.
	C.	The transaction will effect the Income Statement at the time it occurs.
	D.	None of the above.

What do Dividends, Assets, and Expense accounts have in common?

	a.	They all appear on the Income Statement.
	b.	They all appear on the Balance Sheet.
	c.	They all increase their balance with a debit.
	d.	They all increase their balance with a credit.
	e.	They have nothing in common.