September 2023 Question 1 of 20 5 0 5 0 Points Retained earnings will be increased by
2024 < American Public University ACCT 300 Week 1 Quiz 2014> Assignment Help
Question 1 of 20 5 0 5 0 Points Retained earnings will be increased by 2023
Question 1 of 20 5.0/ 5.0 Points Retained earnings will be increased by the amount in the dividend account. Question 2 of 20 5.0/ 5.0 Points When a business borrows money, it incurs a(n): Question 3 of 20 5.0/ 5.0 Points A to Z Corporation issued a $30,000 note payable to borrow cash from the bank. On the Statement of Cash Flows, the transaction would be classified as: Question 4 of 20 5.0/ 5.0 Points Any given transaction must affect at least two different parts of the accounting equation. Question 5 of 20 0.0/ 5.0 Points The first month of operation showed the net cash from operating activities to be $3,760, the net cash from investing activities to be ($5,415), and the ending cash balance to be $3,425. The net cash from financing activities must be: Question 6 of 20 5.0/ 5.0 Points What is the primary object of most businesses? Question 7 of 20 5.0/ 5.0 Points The balance sheet represents the accounting equation. Question 8 of 20 5.0/ 5.0 Points When an account receivable is collected in cash, the total assets of the business increase. Question 9 of 20 5.0/ 5.0 Points The payment of a liability: Question 10 of 20 0.0/ 5.0 Points The stockholders’ equity of a company should equal the sum of its total assets and total liabilities. Question 11 of 20 5.0/ 5.0 Points Paying expenses affects which financial statement elements? Question 12 of 20 5.0/ 5.0 Points Shares of ownership are evidenced by issuing: Question 13 of 20 5.0/ 5.0 Points Accounting is thought to be the “language of business” because business information is communicated to stakeholders. ACCT300 Week 1 Quiz 5/24/14, 1:19 PM Question 14 of 20 5.0/ 5.0 Points Buying equipment for cash affects which account/accounts? Question 15 of 20 0.0/ 5.0 Points Miscellaneous expenses are expenses that have an undetermined amount to be paid. Question 16 of 20 5.0/ 5.0 Points The “rules” of accounting are called: Question 17 of 20 5.0/ 5.0 Points Which principle determines the amount initially entered into the records for purchases? Question 18 of 20 5.0/ 5.0 Points Which of the following is not considered to be a liability? Question 19 of 20 5.0/ 5.0 Points The branch of accounting related to the management’s financial decisions is known as financial accounting. Question 20 of 20 5.0/ 5.0 Points Including all relevant data a reader needs to understand the financial condition and performance of a business refers to which concept?
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