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acct one test

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QuestionAnswer
Which of the following financial statements provides information about a company as of a specific point in time? Balance Sheet
Chicago company provided services to a customer for $8,300 cash, As a result of this event Cash flow from operating activities increase
Springer Company paid cash to purchase land. As a result of this accounting event Total assets were unaffected
Which of the following is NOT an asset use transaction Purchasing equipment for cash
Borrowing cash from the bank is an example of which type of transaction Asset Source
The amount of dividends paid by a company is shown on the Statement of cash flows
Assets are shown on the Balance sheet
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
Which of the following items is an example of revenue? Cash received from customers at the time services were provided
12. Which type of accounting information is intended to satisfy the needs of external users of accounting information? Financial Accounting
“FASB” stands for? Financial Accounting Standards Board
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
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
17. Managerial accounting provides information primarily to which following groups or individuals? Internal Users
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
Expenses are shown on the? Income Statement
Which of the following statements regarding cash transactions is true? Issuance of stock to owners increases assets
Liabilities are shown on the? Balance Sheet
Created by: stuart.hughes
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