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General accounting

prob. Financial Account

increases in economic benefits during the accounting period in the form of inflows or enhancements of assets or decreases of liabilities that result in increases in equity, other than those resulting to equity participants. Liabilities Equity Income O Assets

The increases in stockholders' equity attributable to selling services or products to customers are called a.liabilities b.revenues c.expenses d.assets

Which of the following normally has a net credit balance? A. Asset accounts such as cash, accounts receivable, inventory, and equipment B. Expenses that decrease retained earnings C. Dividends that decrease retained earnings D. Revenues that increase retained earnings

Which of the following best represents operating income? Seleccione una: a. Income after financing activities b. Earnings before interest and taxes c. Income from discontinued operations d. Income from capital gains

Explain whether each of the following balance sheet items increases, reduces, or has no directeffect on a company’s ability to pay its obligations as they come due. Explain your reasoning.a. Cash.b. Accounts Payable.c. Accounts Receivable.d. Capital Stock.

Which of the basic financial statements is best used to answer the question, "How profitable is the business?" a. Income statement O b. Statement of shareholder's equity O c. Accounts receivable aging schedule O d. Balance sheet

Four financial statements are usually prepared for a business. The statement of cash flows is usually prepared last. The statement of stockholders' equity (SSE), the balance sheet (B), and the income statement (1) are prepared in a certain order to obtain information needed for the next statement. In what order are these three statements prepared? Oa. B, I, SSE Ob. SSE, I, B Oc. B, SSE, I Od. 1, SSE, B

A. 3. What is the line item that appears on a statement of financial position? D. Cost of sales. Dividends paid. Current portion of long-term debt. Increase in cash and equivalents.

When a company borrows money from the bank, what is the impact on the accounting equation? Group of answer choices Assets decrease and labilities increase Assets increase and liabilities increase Assets decrease and liabilities decrease Assets increase and liabilities decrease

aa