Question 8 (2 points) List the order in which financial statements must be developed. Balance Sheet Income Statement Cash Flow Statement v Owner's Equity Statement Question 9 (2 points) The cash balance on the Balance Sheet and the Ending Balance on the Cash Flow Statement must equal. a) True b) False Question 10 (2 points) DIL 0 Prt sem Homes End Pou % A $ 4 ) & 7 5 6 8 9 E R T Y U O S D F G H J L C V B NM Question 10 (2 points) If you wanted to know how debt a company has, which of the following statements would you consult? a) Cash Flow Statement b) Owner's Equity Statement c) Balance Sheet d) Income Statement ACC 1800 Professor CMA McKinney Previous Next Pa Page 2 of 5 torch PII PESOR, Homes End Poup % A * $ 4 - 3 ( 9 :) 0 II 5 6 8 E R T Y U o 5 DF G . J K L X CV B NM Quc 111 punti A record of increase and decreases in a specific asset, liability, equity, expense or revenue is called a) a financial statement b) the general journal c) an account d) the general ledger Question 12 2 points) Which of the following financial statements is the only one that does not relate to a period of time? a) Balance Sheet O PII 1 d. 10 PS Home VOUD $ % 5 C V B N. M. Given the following data, calculate the debt ratio: Total assets = $80,000; Total Equity = $45,000 a) Not enough information to calculate b) 1.77778 c).56250 d) 43750 Question 14 (2 points) 3 Expenses are listed on the Cash Flow Statement a) True b) False to search Il d* 2 di Pitsons Home End PgU % $ 4 7 ) 0 5 6 8 9 E R T Y U O P S D F G H X C V B N M Alt a) True b) False Question 15 (2 points) The chart of accounts is a list of all the accounts and includes an identifying number for each account True False ACC 1800. Professor CM A. Mckinney Previous Page Next Page Page 3 of 5 Submit Qua O of 25 questions saved Tech PII Put Son Home End gup # A & $ 4 % 5 ( 9 ) 0 3 6 7 8 E R T Y U O P D F G H J K L V B N M Journal Entries, Trial Balance, Financial Statements Question 16 (2 points) Every journal entry must be posted to the ledger -- no exceptions. True False Question 17 (2 points) Net Income or Net Loss is transferred directly to the 13 a) Owner's Equity Statement b) Statement of Financial Position arach Klein Cintamant Type tere to see DII 1 PrtSche Home TU End 99 @ $ % A & 2 3 4 5 6 7 8 0 W E R T Y U o S D F F G H J K L X C V . N M. Alt