Which of the following items are stocks, as opposed to flows?

Question 1 options:

	A Cat
	A Loan Payment
	Interest Expense
	Shareholder Dividends
	An invoice
	A Loan
	Paid-In Capital

2

Suppose you have previously sent an invoice to a client and you just got a check from the client, paying off the invoice. What would change on your accounting documents?

Question 2 options:

	Accounts Payable Decreases
	Gross Income Decreases
	Accounts Recivable Decreases
	Total Assets Increases
	Total Assets Decreases
	Gross Income Increases
	Accounts Payable Increases
	Accounts Recivable Increases

3

Suppose you purchase a small truck for $21300 by taking out a loan of $12200, making an additional investment in the business of $2600 and paying for the rest out of cash on hand. What is the change in fixed assets you would see on the balance sheet? Please be careful about sign convention

4

If your current assets are $50 and your fixed assets are $100 and you have no other assets. What is your owner equity if you have only $35 in total liabilities?

5

Suppose you purchase a car for your business that costs $26000. Further suppose that you paid for half of it with a loan and half with some cash you had on hand. What is the immediate change Total Assets?

Your Answer:Question 5 options:

6

Suppose you are looking at your income statement and see. "Taxes ($35,500)". What does that mean?

Question 6 options:

That line should be on the balance sheet. It does not belong on the income statement.

That represents the change in cash from operations.

It means you ran a loss.

It means you paid $35,500 in taxes.

7

On what documents (and where) would a sale of some of your company's equipment for cash appear?

Question 7 options:

	On the assets section of the balance sheet
	On the asset section of the balance sheet and the investment section of the cash flow statement.
	On th income statement, under operating revenue
	On the cash flow statement, under investment
	On the owner's equity section of the balance sheet
	On the income statement under net income

8

How would hiring two new employees show up on your company's accounting documents?

Question 8 options:

	As a decrease in operating revenue on the income statement
	As a decrease in operating revenue on the income statement, and as a decrease in cash from operations (cash flow statement)
	Decrease in cash from operations (cash flow statement)
	As an increase in operating expenses on the income statement
	As an increase in operating expenses on the income statement, and a decrease in cash from operations (cash flow statement)
	As an increase in cash from operations (cash flow statement)
	As an increase in operating expenses on the income statement, and as an increase in cash from operations (cash flow statement)