Please DON'T just answer a couple of the questions

8. An example of an unearned revenue account for prepaid services does notinclude (A) Unearned Interest Revenue; (B) Unearned Maintenance Revenue; (C) Unearned Subscription Revenue; (D) Unearned InsuranceRevenue; (E) Unearned Merchandise Inventory.

9. At the end of the accounting period, the correct entry in the general journal

to adjust for beginning inventory is to (A) debit Purchases and credit

Merchandise Inventory; (B) debit Merchandise Inventory and credit Sales;

(C) debit Purchases and credit Cash; (D) debit Merchandise Inventory and

credit Income Summary; (E) debit Income Summary and credit Merchandise Inventory.

10. A formal statement of the results of the operation of a business during an accounting period is called a(n) (A) income statement; (B) balance sheet; C) statement of condition; (D) statement of equities; (E) trial balance.

11. Net sales Cost of merchandise sold = (A) Operating income; (B) Operating expenses; (C) Other expenses; (D) Gross profit; (E) Cost ofgoods sold.

12. The heading on a balance sheet includes the following information in what order? (A) business name, statement date, statement name; (B) statement name, period of time the statement covers, business name; (C) business name, statement name, statement date (D) business name, statement name, period of time the statement covers; (E) none of these.

13. The ability of a business to meet its current obligations may be determined by the (A) current ratio; (B) return on equity; (C) inventory turnover; (D) average inventory; (E) average accounts receivable.

14. Which of the following is not considered a quick asset? (A) cash;

(B) accounts receivable; (C) inventory; (D) temporary investments;

(E) all of these are quick assets.

15.. Which of the following accounts is used only at the close of the accounting period to adjust the merchandise inventory account and summarize the temporary owners equity accounts? (A) Capital; (B) Income Summary; (C) Insurance Expense; (D) Drawing; (E) Unearned Revenue.

16. Which of the following accounts is not considered a selling expense?

(A) Sales Salaries; (B) Insurance Expense; (C) Advertising Expense;

(D) Delivery Expense; (E) Bank Credit Card Expense.