Question 1 of 20
5.0/ 5.0 Points
A to Z Corporation paid a $10,000 cash dividend. On the Statement of Cash Flows, the transaction would be classified as:
 = 
 
Question 2 of 20
5.0/ 5.0 Points
Recording revenue when a sale is made most directly relates to which concept?
   

 
 
Question 3 of 20
5.0/ 5.0 Points
Anthony, Inc. buys land for $50,000 cash. The net effect on assets is:
   


 
Question 4 of 20
5.0/ 5.0 Points
What is the primary object of most businesses?
 
 
Question 5 of 20
5.0/ 5.0 Points
The stockholders’ equity of a company should equal the sum of its total assets and total liabilities.
  

 
Question 6 of 20
5.0/ 5.0 Points
Which principle determines the amount initially entered into the records for purchases?
 
 
Question 7 of 20
5.0/ 5.0 Points
Including all relevant data a reader needs to understand the financial condition and performance of a business refers to which concept?
   


 
Question 8 of 20
5.0/ 5.0 Points
A transaction can affect at most two elements of the accounting equation.
 
 
 
 
Question 9 of 20
5.0/ 5.0 Points
Which of the following is an appropriate representation of the accounting equation?
Question 10 of 20
5.0/ 5.0 Points
The branch of accounting related to the management's financial decisions is known as financial accounting.
Question 11 of 20
5.0/ 5.0 Points
The balance sheet represents the accounting equation.
Question 12 of 20
5.0/ 5.0 Points
When a business borrows money, it incurs a(n):
Question 13 of 20
5.0/ 5.0 Points
Manufacturing businesses change basic inputs into products that are sold to individual customers.
  
 
Question 14 of 20
5.0/ 5.0 Points
Which of the items below is not a business organization form?
Question 15 of 20
5.0/ 5.0 Points
Equality of the accounting equation means that no errors have occurred.
  
 
Question 16 of 20
5.0/ 5.0 Points
Paying expenses affects which financial statement elements?
Question 17 of 20
5.0/ 5.0 Points
Stockholders’ Equity will be reduced by all of the following accounts except:
Question 18 of 20
5.0/ 5.0 Points
The basic type of stock issued to owners is called common stock.
  
 
Question 19 of 20
5.0/ 5.0 Points
The payment of a liability:
Question 20 of 20
5.0/ 5.0 Points
Which of the following is not considered to be a liability?

 

  
            
   
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