Need help with these accounting questions, very challenging in this course.

Week 1 ACC 561 quiz Multiple Choice Question 41 The proprietorship form of business organization combines the records of the business with the personal records of the owner. is classified as a separate legal entity. generally receives favorable tax treatment relative to a corporation. must have at least two owners in most states. Multiple Choice Question 45 Multiple Choice Question 45 Most business enterprises in the United States are government units. proprietorships and partnerships. corporations. partnerships. Multiple Choice Question 57 Which of the following is the best definition of an internal user of accounting information? Labor unions who use accounting information to examine the ability of the company to pay increased wages and benefits. Managers who use accounting information to plan, organize, and run a business. Investors who use accounting information to decide whether to buy or sell stock. Creditors like banks that use accounting information to evaluate the risk of lending money. Multiple Choice Question 65 Which of the following groups uses accounting information to determine whether the company can pay its obligations? Marketing managers Investors in common stock Creditors Chief Financial Officer Multiple Choice Question 99 Which of the following financial statements is divided into major categories of operating, investing, and financing activities? The income statement. The balance sheet. The retained earnings statement. The statement of cash flows. Multiple Choice Question 101 Ending retained earnings for a period is equal to: Beginning retained earnings + Net income + Dividends Beginning retained earnings - Net income + Dividends Beginning retained earnings - Net income - Dividends Multiple Choice Question 105 The financial statement that summarizes the changes in retained earnings for a specific period of time is the balance sheet. statement of cash flows. income statement. Beginning retained earnings + Net income - Dividends retained earnings statement. Multiple Choice Question 106 To show how successfully your business performed during a period of time, you would report its revenues and expense in the balance sheet. income statement. statement of cash flows. retained earnings statement. Multiple Choice Question 116 Which financial statement is prepared first? Statement of cash flows Income statement Balance sheet Retained earnings statement Multiple Choice Question 117 An income statement shows revenues, liabilities, and stockholders' equity. expenses, dividends, and stockholders' equity. revenues, expenses, and net income. assets, liabilities, and stockholders' equity. Multiple Choice Question 103 Dawson Corporation has the following information available for 2011: (in millions) Issued common stock $45 Retired common stock $65 Paid dividends $75 Net income $130 Beginning common stock balance $575 Beginning retained earnings balance $425 Based in this information, what is Dawson's Common Stock balance at the end of the year? $195 $630 $555 $685 Multiple Choice Question 109 Declaring a cash dividend will increase retained earnings. decrease retained earnings. increase common stock. decrease common stock. Multiple Choice Question 113 At December 31, 2012 Lowery Company had retained earnings of $2,184,000. During 2012 they issued stock for $98,000, and paid dividends of $34,000. Net income for 2012 was $402,000. The retained earnings balance at the beginning of 2012 was: $2,454,000 $2,552,000 $1,816,000 $1,914,000