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please answer #1-6 & explain the math. (please ignore the highlights) U RU UUU UUue 1. The accounting concept which maintains that each organization stands

image text in transcribedplease answer #1-6 & explain the math. (please ignore the highlights)
U RU UUU UUue 1. The accounting concept which maintains that each organization stands apart from all other organizations and individual (including the owner) is known as the a. Historical cost principle b. Matching principle C. Monetary unit assumption d. Time period assumption e. None of the above (Economic Entity Assumption) 2. A bond with a face value of 100.000 and a quoted price of 99 % has a seling price of a. 90.925 b. 99,025 c. 99,205 d. 99,250 e. None of the above 3. If total assets are $225,000 and stockholders equity is $150,000, total liabilities would be a. 75,000 b. 150,000 C. 250,000 d. 375,000 e. None of the above 4. Final Company issued a 20yr mortgage note payable on Jan.1, 2014. Final is required to make monthly payments of mortgage beginning Feb 1, 2014. At Dec 31, 2014 the unpaid principle balance will be reported on Final's balance sheet as a. Long term liability b. Interest payable C. Current liability and long term liability d. Current liability e. Current asset and long term investment 5. The financial statement that presents the revenues and expenses for a particular time period is the: a. Balance Sheet b. Income Statement C. Retained Earnings Statement d. Statement of Cash Flows e. None of the above 6. If beginning retained earnings were $37.000, ending R.E. was $12,000, and dividends were $23,000, the net income/loss is a. Net loss of 25,000 b. Net loss of 2,000 c. Net income of 22,000 d. Net income of 14.000 e. None of the above

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