Question 33 (1.5 points) Laura Co. purchased an asset on January 1, 2019. Laura chose the accelerated depreciation method to depreciate the asset. Had Laura chosen a straight-line method, which of the following would be true? 1) Net income would be less in 2019. 2) Depreciation expense would be greater in 2019. 3) The carrying value of the asset would be greater at the end of 2019. 4) All responses are correct. Annie Sweet Corporation is specialized in making wedding cakes. Customers are always required to pay a deposit equal to the full purchase price when they place orders. During the month of September 2019, Annie Sweet Corporation received $34,000 in customer deposits. The balance in its Unearned Revenue account was $14,000 at September 1, 2019 and $12,000 at September 30, 2019. How much revenue did Annie Sweet Corporation recognize during the month of September 2019? 1) $34,000 2) $36,000 3) $30,000 4) $32,000 Which of the following financial statements are affected by the use of the lower of cost and net realizable value basis? 1) both the statement of financial position and the income statement 2) only the income statement 3) neither the statement of financial position nor the income statement 4) only the statement of financial position Question 44 (1 point) Which one of the following is not a basic right for common shareholders? 1) Sharing a corporation's profits through dividends declared by the board of directors. 2) Receiving a proportionate share of any assets remaining before the corporation pays its liabilities in the event of liquidation. 3) Participating in a corporation by voting in shareholder meetings. 14) Maintaining one's proportionate ownership in the corporation