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WSU ACCOUNTING 230 EXAM 1 2024 WITH 100% CORRECT ANSWER

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What are operating activities? - correct answer Transactions related to the primary operations of the company; providing products to customers, utilities, taxes, advertising, wages, rent, and maintenance. What are financing activities? - correct answer Transactions involving external sources of funding. Creditors that loan money. What are investing activities? - correct answer Purchase and sale of long-term investments; land, buildings, equipment, and machinery. How do you calculate the retained earnings statement? - correct answer Revenue - expenses - dividends = retained earnings. Place the following in order: -Statement of Stockholder's Equity -Balance Sheet -Income Statement -Statement of Cash Flows - correct answer 1. Income Statement 2. S

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