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FI504 Final Exam
Business - General Business
1. (TCO A) An advantage of the corporate human body of business is that _____. (Points : 5)
it has limited life
its owners individual(prenominal) resources atomic number 18 at stake
its ownership is easily transferable via the deal of shares of stock
it is simple to establish
2. (TCO A) The Dividends account _____. (Points : 5)
is increase with a debit
is decreased with a credit
is not an expense account
altogether of the above
1. (TCO A) An advantage of the corporate form of business is that _____. (Points : 5)
it has limited life
its owners personal resources are at stake
its ownership is easily transferable via the sale of shares of stock
it is simple to establish
2. (TCO A) The Dividends account _____. (Points : 5)
is increased with a debit
is decreased with a credit
is not an expense account
All of the above
3.
(TCOs A, B) Cerner confederation showed the following balances at the end of its first year:
Cash $5,000
Prepaid policy 500
Accounts receivable 2,500
Accounts payable 2,000
Notes payable 3,000
Common stock 1,000
Dividends 500
Revenues 15,000
Expenses 12,500
What did Cerner Company show as total credits on its streak balance? (Points : 5)
$21,500
$21,000
$20,500
$22,000
4. (TCOs B, E) Using accrual accounting, expenses are recorded and describe only _____. (Points : 5)
when they are incurred, whether or not cash is paid
when they are incurred and paid at the same time
if they are paid out front they are incurred
if they are paid after they are incurredIf you indispensableness to get a full essay, order it on our website: Ordercustompaper.com
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