ACC 557 Week 2 Chapter 1 Quiz (Updated one)

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1-  The United States and the international standard-setting environment are primarily driven by meeting the needs of

 

2-   

-  If the retained earnings account increases from the beginning of the year to the end of the year, then

 

3-   

-If an individual asset is increased, then

 

4-The accounting process is correctly sequenced as

.

4-  If total assets equal $345,000 and total stockholders' equity equal $120,000, then total liabilities must equal

 

6-Liabilities of a company would not include

 

7- Bright Eyes Downtown Diner received a bill of $600 from the Jronand Wine Advertising Agency. The owner, A.

8-Net income results when

 

9- Liabilities of a company are owed to

 

10- At October 1, Arcade Fire Enterprises reported stockholders' equity of $35,000. During October, common stock of $2,000 was issued and the company earned net income of $7,000. If stockholders' equity at October 31 totals $40,000, what amount of dividends were paid during the month?

 

11 -Ethics are the standards of conduct by which one's actions are judged as

 

12- Which of the following is not a reason one set of international accounting standards are needed?

 

13-Stockholders' equity is decreased by all of the following except

 

14-The concern about international companies adopting SOX-type standards centers on

 

15- The private sector organization involved in developing accounting principles is the

 

 

    • 11 years ago
    ACC 557 Week 2 Chapter 1 Quiz (Updated one)
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