For each of the following multiple-choice questions, choose the letter that comesponds to the best answer Your answers are saved on COLE You need not be cons 4 of 24 Unsure Which of the following is not considered a qualitative characteristic of accounting information according? O predictive value Ob neutrality O accuracy Od faithd representation 5 of 24 Which of the following transactions would increase net earnings under the cash basis but not under the accrual basis? Oa Sale of inventory on account at a sales price in excess of the inventory's cost b. Collection of cash from a customer who purchased goods on account in a prior accounting period O Sale of inventory for cash at a sales price in excess of the inventory's cost Ratum of defective products purchased on account, to a supplier where a full credit was given O Sale of inventory at a sales price in excess of cost, where part of the sales price was paid in cash and part was made on account 6 of 24 Unsure Omar Zuher started a company by investing $8.000 in cash. The company paid $2,000 in advance for rent covering the next six months. It acquired inventory for $3.300, charging two-thirds of the purchase on account. It sold inventory costing $1,400 for $2,900 on account. What is the balance in the cash amount, after all these transactions? Oa $1,600 debit b. $4,500 credit O $2,700 debil Od $4,500 debit O $7.800 deb 7 of 24 Determine the beginning balance of the retained eamings account based on the following information Dividends declared $8,000 Ending balance of retained earnings Net eamings 33,000 14,000 Ending balance of contributed capital 26.000 capital 24,000