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Question
Answer
Which of the following financial statements provides information about a company as of a specific point in time?   Balance Sheet  
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Chicago company provided services to a customer for $8,300 cash, As a result of this event   Cash flow from operating activities increase  
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Springer Company paid cash to purchase land. As a result of this accounting event   Total assets were unaffected  
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Which of the following is NOT an asset use transaction   Purchasing equipment for cash  
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Borrowing cash from the bank is an example of which type of transaction   Asset Source  
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The amount of dividends paid by a company is shown on the   Statement of cash flows  
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Assets are shown on the   Balance sheet  
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Which of the following groups has the primary responsibility for establishing generally accepted principles for business entities in the United State?   Financial Accounting Standards Board  
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Which of the following items is an example of revenue?   Cash received from customers at the time services were provided  
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12. Which type of accounting information is intended to satisfy the needs of external users of accounting information?   Financial Accounting  
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“FASB” stands for?   Financial Accounting Standards Board  
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If a company’s total assets decreased while liabilities and common stock were unchanged, and no dividends were paid, then   Revenues were less than expenses  
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15. Which of the following items would appear in the cash flow from the financing activities section of a statement of cash flows?   Paid cash for dividends  
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17. Managerial accounting provides information primarily to which following groups or individuals?   Internal Users  
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Which of the following items appears in the investing activities section of the statement of cash flows?   Cash outflow for the purchase of a computer  
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Expenses are shown on the?   Income Statement  
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Which of the following statements regarding cash transactions is true?   Issuance of stock to owners increases assets  
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Liabilities are shown on the?   Balance Sheet  
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