MULTIPLE CHOICE Choose the one alternative that best completes the statement or answers the question Each question carries 2 marks 1) On the Statement of Cash Flows, the ending balance of cash is also found on the A) Income Statement B) Balance Sheet C) Statement of Stockholders' Equity D) Statement of Retained Earnings 2) K Company has the following accounts and balances at the end of the year What is the amount of Retained Earnings at the end of the year A) $174,000 B) $98,500 C) $150,500 D) $52,000 3) Why are adjusting entries prepared A) Because some accounts are not up to date B) Because some day to day transactions have not been recorded C) Because the financial statements are misstated D) A and C

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MULTIPLE CHOICE  Choose the one alternative that best completes the statement or answers the question  Each question carries 2 marks  1) On the Statement of Cash Flows, the ending balance of cash is also found on the  A) Income Statement  B) Balance Sheet  C) Statement of Stockholders' Equity  D) Statement of Retained Earnings  2) K  Company has the following accounts and balances at the end of the year  What is the amount of Retained Earnings at the end of the year A) $174,000 B) $98,500 C) $150,500 D) $52,000 3) Why are adjusting entries prepared  A) Because some accounts are not up to date  B) Because some day to day transactions have not been recorded  C) Because the financial statements are misstated  D) A and C

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MULTIPLE CHOICE. Choose the one alternative that best completes the statement or answers the question. Each question carries 2 marks. 1) On the Statement of

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