Review 1 Which is the best description of authorized shares? The total amount of shares that can be publicly traded The total amount of shares held by the directors The total amount of shares that can be sold The total amount of shares a company has received cash for Page 1 of 10 Next Page Review Later 1 Which is the best description of authorized shares? The total amount of shares that can be publicly traded The total amount of shares held by the directors The total amount of shares that can be sold The total amount of shares a company has received cash for Page 1 of 10 Next Page Review Later N Which is not a type of note found in a set of financial statements? Significant accounting policies Indirect information Direct information Significant internal controls Page 2 of 10 Prev Page Next Page Review Later 3 Where would unearned revenue most likely appear in a set of financial statements? In the Income Statement before Gross Profit In the Income Statement after Operating Profit In the Balance Sheet as a liability In the Balance Sheet as an asset Page 3 of 10 Prev Page Review Later 4 Which is not an example of an intangible asset? A trademark A copyright o A computer A patent Page 4 of 10 Prev Page Next Page Review Later What will a contingency note contain? A disclosure of future contracts to be performed A set of criteria required to be able to recognize revenue A circumstance where a company may have a liability A disclosure of all future commitments of the company Page 5 of 10 Prev Page Next Page Review Later 6 Where would advertising costs normally be found? On the income statement, within cost of sales On the income statement within selling general and administration On the balance sheet, within intangible assets On the balance sheet, within contingent liabilities Page 6 of 10 Prev Page Next Page Review 1 Which is the best description of authorized shares? The total amount of shares that can be publicly traded The total amount of shares held by the directors The total amount of shares that can be sold The total amount of shares a company has received cash for Page 1 of 10 Next Page