CBAD 201 Final Exam – Questions With Comprehensive
Solutions
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Terms in this set (57)
Net working capital: c. is computed by subtracting total current liabilities from total
current assets
a. should be the same for all
companies
b. represents the company's
ability to pay its long-term debts
c. is computed by subtracting
total current liabilities from total
current assets
d. should be a negative number
to ensure the profitability of the
company.
What type of business c. corporation
organization transacts much
more business and is larger in
terms of assets, income, and
number of employees?
a. partnership
b. limited liability company
c. corporation
d. proprietorship
The accounting assumption that a. entity assumption
states that the business, rather
than its owners, is the reporting
unit is the:
a. entity assumption
b. stable-monetary-unit
assumption
c. going concern assumption
d. historical cost assumption
, The accounting equation can be b. Assets -Liabilities = Stockholders' Equity
stated as:
a. Assets = Liabilities -
Stockholders' Equity
b. Assets -Liabilities =
Stockholders' Equity
c. Assets + Stockholders' Equity =
Liabilities
d. Assets - Stockholders' Equity +
Liabilities = Zero
Which of the following a. Dividends reduce retained earnings.
statements is TRUE?
a. Dividends reduce retained
earnings.
b. Dividends are expenses of a
business.
c. Dividends reduce net income.
d. Dividends increase retained
earnings.
Which financial statement is c. Balance sheet
dated at the moment in time
when the accounting period
ends?
a. Statement of retained
earnings and income statement
b. Statement of cash flows
c. Balance sheet
d. Income statement
The Balance Sheet is used to c. Statement of Cash Flows
prepare the:
a. Income Statement
b. Statement of Stockholders'
Equity
c. Statement of Cash Flows
d. Statement of Retained
Earnings
Which transaction decreases c. total expenses greater than total revenues for the period
stockholders' equity?
a. sale of common stock
b. cash purchase of land
c. total expenses greater than
total revenues for the period
d. total revenues greater than
total expenses for the period
Which of the following is NOT a d. A company fired 10 percent of the employees due to lackluster
business transaction? sales.
a. A company buys goods on
account.
b. A company sells land for cash.
c. A company borrows money
from the bank.
d. A company fired 10 percent of
the employees due to lackluster
sales.
Solutions
Save
Students also studied
Perio Study DENT 475 - Implant components NBDE II Review - Pro
Teacher 78 terms 42 terms 69 terms
Hunter_Charters Preview gillphil Preview melissa_jarvis7
Terms in this set (57)
Net working capital: c. is computed by subtracting total current liabilities from total
current assets
a. should be the same for all
companies
b. represents the company's
ability to pay its long-term debts
c. is computed by subtracting
total current liabilities from total
current assets
d. should be a negative number
to ensure the profitability of the
company.
What type of business c. corporation
organization transacts much
more business and is larger in
terms of assets, income, and
number of employees?
a. partnership
b. limited liability company
c. corporation
d. proprietorship
The accounting assumption that a. entity assumption
states that the business, rather
than its owners, is the reporting
unit is the:
a. entity assumption
b. stable-monetary-unit
assumption
c. going concern assumption
d. historical cost assumption
, The accounting equation can be b. Assets -Liabilities = Stockholders' Equity
stated as:
a. Assets = Liabilities -
Stockholders' Equity
b. Assets -Liabilities =
Stockholders' Equity
c. Assets + Stockholders' Equity =
Liabilities
d. Assets - Stockholders' Equity +
Liabilities = Zero
Which of the following a. Dividends reduce retained earnings.
statements is TRUE?
a. Dividends reduce retained
earnings.
b. Dividends are expenses of a
business.
c. Dividends reduce net income.
d. Dividends increase retained
earnings.
Which financial statement is c. Balance sheet
dated at the moment in time
when the accounting period
ends?
a. Statement of retained
earnings and income statement
b. Statement of cash flows
c. Balance sheet
d. Income statement
The Balance Sheet is used to c. Statement of Cash Flows
prepare the:
a. Income Statement
b. Statement of Stockholders'
Equity
c. Statement of Cash Flows
d. Statement of Retained
Earnings
Which transaction decreases c. total expenses greater than total revenues for the period
stockholders' equity?
a. sale of common stock
b. cash purchase of land
c. total expenses greater than
total revenues for the period
d. total revenues greater than
total expenses for the period
Which of the following is NOT a d. A company fired 10 percent of the employees due to lackluster
business transaction? sales.
a. A company buys goods on
account.
b. A company sells land for cash.
c. A company borrows money
from the bank.
d. A company fired 10 percent of
the employees due to lackluster
sales.
