CBE EXAM
2024 LATEST UPDATE
[MOST TESTED QUESTIONS] CERTIFIED
STUDY GUIDE RESOURCES COMPREHENSIVE
QUESTIONS AND VERIFIED DETAILED
ANSWERS GET IT 100% RIGHT GRADED A+
The financial statement that represents the position of a
company over a period of time is the - (correct answer)
Income Statement
The financial statement that represent the position of a
company at a point in time is the - (correct answer)
Balance Sheet
The accounting equation is - (correct answer) assets
equal liabilities plus owners' equity
,The payment of a liability will ______ the liability balance
- (correct answer) decrease
Users of the financial statements include - (correct
answer) creditors, investors, & government
The basic financial statements of a company are (is) -
(correct answer) balance sheet, income statement,
statement of cash flow and stockholders equity
The statement of cash flows is divided into sections of -
(correct answer) Operating, Investing, & Financing
The footnotes to the financial statements are - (correct
answer) an integral part
A ________ increases the fixed assets accounts -
(correct answer) debit
An increase in owner's equity is accomplished by -
(correct answer) selling common stock and net income
, Generally Accepted Accounting Principles (GAAP)
requires the ______ basis of accounting for financial
statements - (correct answer) accrual
The annual report of a publically traded company is filed
with the - (correct answer) SEC
The financial statements of a publically traded company
may be found - (correct answer) within the annual
report, on their website, and in documents filed with the
SEC
The financial statements of a public company are
influenced by the - (correct answer) SEC, FASB, and
government
The equity section of the financial statements include -
(correct answer) common stock, additional paid in
capital, & retained earnings
2024 LATEST UPDATE
[MOST TESTED QUESTIONS] CERTIFIED
STUDY GUIDE RESOURCES COMPREHENSIVE
QUESTIONS AND VERIFIED DETAILED
ANSWERS GET IT 100% RIGHT GRADED A+
The financial statement that represents the position of a
company over a period of time is the - (correct answer)
Income Statement
The financial statement that represent the position of a
company at a point in time is the - (correct answer)
Balance Sheet
The accounting equation is - (correct answer) assets
equal liabilities plus owners' equity
,The payment of a liability will ______ the liability balance
- (correct answer) decrease
Users of the financial statements include - (correct
answer) creditors, investors, & government
The basic financial statements of a company are (is) -
(correct answer) balance sheet, income statement,
statement of cash flow and stockholders equity
The statement of cash flows is divided into sections of -
(correct answer) Operating, Investing, & Financing
The footnotes to the financial statements are - (correct
answer) an integral part
A ________ increases the fixed assets accounts -
(correct answer) debit
An increase in owner's equity is accomplished by -
(correct answer) selling common stock and net income
, Generally Accepted Accounting Principles (GAAP)
requires the ______ basis of accounting for financial
statements - (correct answer) accrual
The annual report of a publically traded company is filed
with the - (correct answer) SEC
The financial statements of a publically traded company
may be found - (correct answer) within the annual
report, on their website, and in documents filed with the
SEC
The financial statements of a public company are
influenced by the - (correct answer) SEC, FASB, and
government
The equity section of the financial statements include -
(correct answer) common stock, additional paid in
capital, & retained earnings
