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Hello course Hero tutors, I need someone to help complete the attached questions 1. These are economic resources with the ability or potential to provide
Hello course Hero tutors, I need someone to help complete the attached questions
1. These are economic resources with the ability or potential to provide future benefits? Retained Earnings Shareholder's Equity Assets Liabilities 2. When revenue is greater than expenses, you have a ___? Net Income Contributed Capital Net Loss Historical Valuation 3. Assets - Liabilities = ____? Revenue Net Income Shareholder's Equity Net Loss 4. Which financial statement shows the results of the operating activities of a firm for a specific period of time? Trial Balance sheet Balance Sheet Income Statement Statement of Cash Flow 5. This statement reports the net cash flows relating to operating, investing, and financing activities for a period of time? Income Statement Statement of Cash Flows Comparative Balance Sheet Unadjusted Trial Balance 6. Which government agency has the authority to set acceptable accounting methods in the U.S.? State Department FAA SEC EEOC 7. The amount of cash paid in acquiring an asset is called what? Present Value Current Replacement Cost Historical Cost Net Realizable Cost 8. Which is an example of an intangible asset? Patent Equipment Cash Building 9. Earnings that a firm realizes in excess of dividends are called what? Revenue Retained Earnings Expenses Income Statement 10. A ____ lists each of the accounts in the general ledger with its balance as of a particular date. What is it? General Journal Statement of retained earnings Balance Sheet Trial BalanceStep by Step Solution
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