Quiz
Chapter 1
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Questions in this quiz (11)
1The Common Characteristic possessed by all assets is
- ATangible Nature
- BGreat Monetary value
- CFuture economic benefit
- DLong life
2Liabilities
- Aare future economic benefits
- Bare existing debts and obligations
- Cposses service potential
- Dare things of value used by the business in its operation
3Stockholders equity can be described as
- Acreditorship claim on total assets
- BOwnership claim on total assets
- Cbenefactors claim on total assets
- Ddebtor claim on total assets
4Revenues would not result from
- Asale of merchandise
- Bissuance of common stock
- Crental of property
- Dperformance of services
5A dividend is
- Aa distribution of the company's earnings to its stockholders
- Bequal to liabilities minus stockholders equity
- Cequal to assets minus stockholders equity
- Dequal to revenues less expenses
6A net loss will result during a time period when
- Aexpenses exceed revenues
- Brevenues exceed expenses
- Cdividends exceed investments
- Dliabilities exceed assets
7As of June 30, 2011, Dallas Company has assets of $120,000 and stockholders equity of $10,000. What are the liabilities for Dallas Company as of June 30, 2011 ?
- A$130,000
- B$100,000
- C$110,000
- D$120,000
8Stockholders equity is increased by
- Adividends
- Brevenues
- Cliabilities
- Dexpenses
9Stockholders equity is decreased by
- Aexpenses
- Bassets
- Cliabilities
- Drevenues
10A balance sheet shows
- Arevenues, liabilities, and stockholders equity
- Bexpenses, drawings, and stockholders equity
- Crevenues, expenses, and dividends
- Dassets, liabilities, and stockholders equity
11An income statement
- Asummarizes the changes in stockholders equity for a specific period of time
- Bpresents the revenues and expenses for a specific period of time
- Creports the changes in assets, liabilities, and stockholders equity over a period of time
- Dreports the assets, liabilities, and stockholder equity at a specific date
Information
- Description
- Quiz on Chapter 1 , created by Ajdin Osmanovic on 06/02/2017.
- Author
- Ajdin Osmanovic
- Language
- English
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