Tuesday, March 17, 2015

73 Free Test Bank for Financial ACCT 2010 1st Edition by Godwin 

We’re pretty sure that you have to get 73 Free Test Bank for Financial ACCT 2010 1st Edition by Godwin Multiple Choice Questions for your financial accounting exams. Honestly, after reading each chapter in the textbook, you might take away almost nothing from the book because of too dense material or vague definitions. Not worry! Our test will enable you not to feellike a waste of time to practice. You can completely rely on this useful and various test bank database for the textbook to learn any concepts in the textbook through free interactive accounting questions in reality. We hope this test to become the valuable textbook test bank for learners in order that you must not decide on switching to another different test in future learning process.
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Ponzi Corporation reported the following information for the year ended December 31, 2010. Net income $100,000; Dividends 6,000; Retained earnings at December 31, 2010 $120,000; What was the balance of Retained Earnings at January 1, 2010?
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The resources used to generate revenues during a period are called:
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Which one of the following is not one of the three business activities?
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Businesses engage in which of the following three main activity categories?
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Which financial statement would you refer to in order to determine how many resources (assets) the company owned?
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Which of the following statements is true regarding economic events?
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Which financial statement would you analyze to determine its operating performance for the past year?
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Which of the following best describes the term "retained earnings" of a company?
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Which of the following is an assumption made in the preparation of the financial statements?
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Which statement demonstrates the financial success or failure of the company over that specific period of time?
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IPOD Corporations' end-of-year Balance Sheet consisted of the following amounts. Cash $ 150,000; Accounts Receivable $500,000; Property, plant & equipment 700,000; Long-term debt 400,000; Capital stock 1,000,000; Accounts payable 200,000; Retained earnings; Inventory 350,000; Refer to IPOD Corp. What amount should IPOD report on its Balance Sheet for Total Assets?
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The Peck Company reported the following items on its financial statements for the year ending December 31, 2010. Sales $1,560,000; Cost of Sales $1,400,000; Selling, general and Other Expense 30,000; administrative expense 40,000 ; Dividends 10,000Income Tax Expense 25,000; Refer to Peck Company. How much will be reported as Retained Earnings on its Balance Sheet at December 31, 2010, if this is the first year of operations?
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"Revenues" are best described as:
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Which one of the following financial statements reports an entity's financial position at a specific date?
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Which one of the following events involves a liability for a business?
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The going concern assumption is concerned with
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Which of the following best describes the term "expenses"?
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Which one of the following items appears on a balance sheet?
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How is the Balance Sheet linked to the other financial statements?
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You are a potential creditor and are concerned that a particular company you are ready to give a loan to might have too much debt. Which financial statement would provide you information needed in order to evaluate your concern?
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Which of the following is the correct date format for the financial statement heading?
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Which one of the following is a correct fundamental accounting equation?
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Which one of the following financial statements show the end of the year cash balance for a business entity?
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Bailout Corp. reported the following information for the year ended December 31, 2010. Revenues $2,500,000; Expenses 2,000,000; Retained Earnings at December 31, 2009 100,000; Retained Earnings at December 31, 2010 450,000; How much was paid out in dividends in 2010?
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Which of the following terms best describes a distribution of the net income of a corporation to its owners?
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Jetson Corp. reported the following information for the year ended December 31, 2010. Revenue $14,000,000; Expenses 11,500,000; Dividends 1,000,000; Retained Earnings at December 31, 2010 1,750,000; What was the retained earnings balance at December 31, 2009?
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The time-period assumption is necessary because
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Which of the following is an organization that lends funds to a business entity and expects repayment of the funds?
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IPOD Corporations' end-of-year Balance Sheet consisted of the following amounts. Cash $150,000;Accounts Receivable $500,000; Property, plant & equipment 700,000;Long-term debt 400,000; Capital stock 1,000,000;Accounts payable 200,000; Retained earnings ; Inventory 350,000; What is IPOD 's Retained Earnings balance at the end of the current year?
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Which of the following invests funds into a business and is considered an owner?
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