ACC 557 Week 2 Chapter 1 Quiz (Updated one)
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
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