Which type of account increases with a credit? (a) Assets (b) Liabilities (c) Expenses (d) Dividends
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- Which statement is most directly affected by a change to net income? A. balance sheet B. income statement C. statement of retained earnings D. statement of cash flowsDefine current assets and current liabilities. Why are current assets and current liabilities separated from noncurrent assets and long-term liabilities on the balance sheet?On which financial statement would the Dividends account appear? A. Balance Sheet B. Income Statement C. Retained Earnings Statement D. Statement of Cash Flows
- Which of the following are increased by credits?: a) revenues and gains b) expenses and losses c) assets d) dividendsIn which of the following types of accounts are increases recorded by credits? Question 8 options: Revenue, Dividends Liability, Revenue Dividends, Asset Expense, LiabilityWhich of the following is (are) deducted from EBIT to determine net income? A. Earnings per share B. Interest expense C. Corporate taxes D. Both B and C
- Which of the following accounts is increased by a debit? Common Stock Accounts Payable Inventory Service Revenue Long-Term Debtit of What is considered a summary of profit or loss? Select one: a. Retained earnings b. Dividends c. Income statement d. Balance sheetThe rate of return on assets (ROA) is calculated by dividing Select one: a. average total assets by net income. b. net income by average total assets. c. net income by net revenue. d. net revenue by average total assets.
- The numerator of the return on total assets is a. net income b. net income plus tax expense c. net income plus interest expense d. net income minus preferred dividendsIn general terms, financial assets appear in the balancesheet at:a. Face value.b. Current value.c. Cost.d. Estimated future sales value.1) On the Statement of Retained Earnings where does the Beg Balance of RE come from?2) Also regarding this financial statement, what is the purpose and reason for adding Net Income to the Beg Bal of RE?
