Exam 1: Introduction to Financial Statements
Exam 1: Introduction to Financial Statements218 Questions
Exam 2: A Further Look at Financial Statements238 Questions
Exam 3: The Accounting Information System275 Questions
Exam 4: Accrual Accounting Concepts310 Questions
Exam 5: Merchandising Operations and the Multiple-Step Income Statement261 Questions
Exam 6: Reporting and Analyzing Inventory250 Questions
Exam 7: Fraud, Internal Control, and Cash245 Questions
Exam 8: Reporting and Analyzing Receivables262 Questions
Exam 9: Reporting and Analyzing Long-Lived Assets276 Questions
Exam 10: Reporting and Analyzing Liabilities294 Questions
Exam 11: Reporting and Analyzing Stockholders Equity263 Questions
Exam 12: Statement of Cash Flows216 Questions
Exam 13: Financial Analysis: The Big Picture271 Questions
Exam 14: Time Value of Money295 Questions
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Information in the notes to the financial statements has to be quantifiable (numeric).
(True/False)
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Which of the following is not a common way that managers use the balance sheet?
(Multiple Choice)
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Benedict Company compiled the following financial information as of December 31, 2014:
Benedict's stockholders' equity on December 31, 2014 is

(Multiple Choice)
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If the assets owned by a business total $100,000 and liabilities total $65,000, stockholders' equity totals $25,000.
(True/False)
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Management's views on the company's short-term debt paying ability, expansion financing, and results of operations are found in the
(Multiple Choice)
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Operating activities involve putting the resources of the business into action to generate a profit.
(True/False)
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Which of the following is a user of accounting information with an indirect financial interest in a business?
(Multiple Choice)
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If total liabilities increased by $75,000 and stockholders' equity increased by $25,000 during a period of time, then total assets must change by what amount and direction during that same period?
(Multiple Choice)
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Gibson Company recorded the following cash transactions for the year: Paid $180,000 for salaries.
Paid $80,000 to purchase office equipment.
Paid $20,000 for utilities.
Paid $8,000 in dividends.
Collected $310,000 from customers.
What was Gibson's net cash provided by operating activities?
(Multiple Choice)
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All of the following are interrelationships that are important to understand when preparing financial statements except
(Multiple Choice)
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Marvin Services Corporation had the following accounts and balances:
If the balance of the Buildings account was $42,000 and $3,000 of Accounts Payable were paid in cash, what would be the balance of the total stockholders' equity?

(Multiple Choice)
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