not questions 6 or 14

6. Identify This Financial Statement: Which financial statement would best display company's plant, property and equipment used in their factory everyday to help generate sales revenue? A) Income Statement B) Statement of Retained Earnings C) Balance Sheet D) Statement of Cash Flows 7. Understanding This Financial Statement: The Statement of Cash Flows reflects a section for each of the major categories of business activities as of the reporting date. Accordingly, the Statement of Cash Flows will reflect net cash provided or used by for the following business activity categories EXCEPT: A) Operating Activities B) Financing Activities C) Equity Activities D) Investing Activities 8. Identify the Financial Statement: Which financial statement would indicate whether or not dividends were paid in the reporting period? A) Income Statement B) Statement of Retained Earnings C) Balance Sheet D) Statement of Cash Flows 9. Which of the following would NOT be considered an EXTERNAL USER of accounting information for the Jones Company? A) Internal Revenue Service Agent B) Creditors C) Customers D) Senior Management 10. Which type of financial statement user would most likely ask the following question after reviewing the financial statements: Can we afford a new marketing campaign? A) Internal User B) External User C) Both Internal and external User 11. The classified Balance Sheet will reflect the following ASSET Categories EXCEPT: A) Property, plant and equipment B) Intangible assets C) Current assets D) Notes payable E) Long-Term investments urrent assets are assets expected to be used or -operating cycle of the balance sheet date. They are 12. Consider the Consider the classified Balance Sheet: Current assets converted within year or presented on the balance sheet in the order of A) One; one; the alphabet B) One; two; highest balance of SS's first C) One; one: smallest balance of SS's first D) One; one; liquidity onsider the classified Balance Sheet: Current liabilities represent debt expected to be paid in full within year or operating cycle of the balance sheet date. They are presented on the balance sheet in the order of A) One; one; the alphabet B) One; two; highest balance of $$'s first C) One; one, which ones are to be paid first D) One; one; smallest balance of $$'s first 14. Consider the classified Balance Sheet: Trademarks would appear in which balance sheet category on a classified Balance Sheet? A) Property, plant, and equipment B) Investments C) Current assets D) Intangible assets 15. Consider the multiple-step income statement: The multiple-step income statement shows the following line items EXCEPT: A) net income. B) net sales. C) cost of goods sold. D) gross profit/ gross margin. E) All of the above are shown on a multiple-step income statement. 16. Which of the following is the most appropriate and modern definition of accounting / accounting information system? A) Electronic collection, organization, and communication of vast amounts of information. B) The interconnected network of subsystems necessary to operate a business. C) A means of collecting information D) The information system that identifies, records, and communicates the economic events of the organization to interested users