Heedy Company had the following account balances in 2016 and 2017, respectively.Assuming dividends of $20,000 were paid in 2017, how much was net income? $\begin{array}{lrr} & \mathbf{2 0 1 7} & \underline{\mathbf{2 0 1 6}} \\ \text { Capital Stock } & \$ 42,000 & \$ 40,000 \\ \text { Retained Earnings }& x & 210,000 \\ \text { Total Stockholders' Equity } & \$ 314,000 & \$ 250,000 \\ \end{array}$

A) $62,000 B) $82,000 C) $272,000 D) $252,000 A) $62,000 B) $82,000 C) $272,000 D) $252,000

Exam 1: The Role of Accounting in Business

Heedy Company had the following account balances in 2016 and 2017, respectively.Assuming dividends of $20,000 were paid in 2017, how much was net income? Capital Stock \ 42,000 \ 40,000 Retained Earnings x 210,000 Total Stockholders' Equity \ 314,000 \ 250,000

(Multiple Choice)

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Question 41

The objective of most businesses is to maximize profits.

(True/False)

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Question 42

A corporation is an entity _____.

(Multiple Choice)

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Question 43

The basic type of stock issued to owners is called common stock.

(True/False)

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Question 44

Creditors have preference to assets behind stockholders if a business fails.

(True/False)

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Question 45

Cash investments made by the stockholders of the business are reported on the statement of cash flows in the:

(Multiple Choice)

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Question 46

Capital market stakeholders have an interest in a company because:

(Multiple Choice)

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Question 47

A business stakeholder has an interest in the economic performance of a business.

(True/False)

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Question 48

Which of the following types of business is popular for its ease and low cost of organizing?

(Multiple Choice)

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Question 49

During 2016, Banigo Corporation experienced an increase in total assets of $72,600 and an increase in total liabilities of $40,900.Assuming that capital stock increased by $5,000 and no dividends were paid, calculate Banigo's net income or net loss for 2016.

(Multiple Choice)

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Question 50

_____ is the increase in assets from selling products or services.

(Multiple Choice)

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Question 51

Reporting the financial condition of a business at a point in time and reporting the changes in the financial condition of a business over a period of time are the two major objectives of:

(Multiple Choice)

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Question 52

Revenues received from providing services are referred to as:

(Multiple Choice)

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Question 53

Describe business stakeholders.State the classification of business stakeholders.

(Essay)

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Question 54

Assets are acquired through investing activities when resources are purchased.

(True/False)

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Question 55

A low-cost emphasis strives to provide:

(Multiple Choice)

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Question 56

Which of the following is an appropriate representation of the accounting equation?

(Multiple Choice)

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Question 57

Which of the following is not an example of a capital market stakeholder?

(Multiple Choice)

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Question 58

What is the basic accounting equation, and which financial statement is prepared from this equation?

(Essay)

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Question 59

Companies using a low-cost emphasis provide products and services that compete on features other than price.

(True/False)

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Question 60

Showing 41 - 60 of 98

Heedy Company had the following account balances in 2016 and 2017, respectively.Assuming dividends of $20,000 were paid in 2017, how much was net income? Capital Stock \ 42,000 \ 40,000 Retained Earnings x 210,000 Total Stockholders' Equity \ 314,000 \ 250,000

The objective of most businesses is to maximize profits.

A corporation is an entity _____.

The basic type of stock issued to owners is called common stock.

Creditors have preference to assets behind stockholders if a business fails.

Cash investments made by the stockholders of the business are reported on the statement of cash flows in the:

Capital market stakeholders have an interest in a company because:

A business stakeholder has an interest in the economic performance of a business.

Which of the following types of business is popular for its ease and low cost of organizing?

During 2016, Banigo Corporation experienced an increase in total assets of $72,600 and an increase in total liabilities of $40,900.Assuming that capital stock increased by $5,000 and no dividends were paid, calculate Banigo's net income or net loss for 2016.

_____ is the increase in assets from selling products or services.

Reporting the financial condition of a business at a point in time and reporting the changes in the financial condition of a business over a period of time are the two major objectives of:

Revenues received from providing services are referred to as:

Describe business stakeholders.State the classification of business stakeholders.

Assets are acquired through investing activities when resources are purchased.

A low-cost emphasis strives to provide:

Which of the following is an appropriate representation of the accounting equation?

Which of the following is not an example of a capital market stakeholder?

What is the basic accounting equation, and which financial statement is prepared from this equation?

Companies using a low-cost emphasis provide products and services that compete on features other than price.

Basic Accounting Systems: Cash Basis

Basic Accounting Systems: Accrual Basis

Accounting for Merchandising Businesses

Internal Control and Cash

Receivables and Inventories

Fixed Assets, Natural Resources, and Intangible Assets

Liabilities and Stockholders Equity

Metric Analysis of Financial Statements

Accounting for Manufacturing Operations

Cost-Volume-Profit Analysis

Differential Analysis and Product Pricing

Budgeting and Standard Costs

Performance Evaluation for Decentralized Operations

Capital Investment Analysis

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