Sunday, March 15, 2015

82 Free Test Bank for Using Financial Accounting Information The Alternative to Debits and Credits 7th Edition by Porter

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Bush Company is ready to sell its bonds. Which one of the following financial questions will investors most likely want answered before they make a purchase?
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Which of the following best describes the term “assets”?
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Which of the following statements is true?
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Which one of the following is an economic obligation for a business entity?
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What is the name of the branch of accounting concerned with providing managers and administrators with information to facilitate the planning and control of business operations?
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The costs of doing business through the sale of goods and services are called
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Which one of the following is not one of the three activities included in the definition of accounting?
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Which one of the following business decisions will least likely require financial information?
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Which one of the following is not an external user of financial statements?
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Which financial statement would you analyze to determine if a company distributed any of its profits to its shareholders?
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Which of the following best describes the term “expenses”?
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Which one of the following is not an external user of financial information?
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Which of the following statements best describes the term revenues?
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Which of the following would be classified as external users of financial statements?
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Which of the following terms best describes a distribution of the net income of a business to its owners?
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The Ranier Company reported the following items on its financial statements for the year ending December 31, 2012: The income statement for Ranier will report net income for the current year in the amount of Sales $ 560,000Cost of goods sold $400,000; Salary expense 40,000;Interest expense 30,000; Dividends 20,000;Income tax expense 25,000
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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 of the following invests funds into a business and is considered an owner?
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Which of the following best describes the term “retained earnings”?
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Which one of the following groups is considered an internal user of financial statements?
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Which one of the following items appears on a balance sheet?
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Which financial statement would you refer to in order to determine whether a company owed funds to creditors?
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Ronald Corporation’s end-of-year balance sheet consisted of the following amounts: What is Ronald’s total liabilities balance at the end of the current year? Cash $ 25,000;Accounts receivable $ 46,000; Property, plant & equipment 69,000;Long-term debt 41,000; Capital stock 107,000;Accounts payable 22,000; Retained earnings ?Inventory 33,000
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Which one of the following is least likely to be a user of financial information of a grocery store?
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Which one of the following events involves a liability for a business?
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Which statement summarizes the income earned and the dividends paid?
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Tempo Corporation’s end-of-year balance sheet consisted of the following amounts: What amount should Tempo report on its balance sheet for total assets? Cash $ 15,000; Accounts receivable $ 50,000; Property, plant, and equipment 70,000; Long-term debt 40,000; Capital stock 100,000; Accounts payable 20,000; Retained earnings ; Inventory 35,000
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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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Which of the following statements would be true if you own stock in a company?
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Which one of the following correctly represents one of the basic financial statement models?
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The three forms of business entities are:
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Tempo Corporation’s end-of-year balance sheet consisted of the following amounts: What is Tempo's retained earnings balance at the end of the current year? Cash $ 15,000; Accounts receivable $ 50,000; Property, plant, and equipment 70,000; Long-term debt 40,000; Capital stock 100,000; Accounts payable 20,000; Retained earnings ;Inventory 35,000
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Which one of the following items is correct concerning the time element of financial statements?
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Ronald Corporation’s end-of-year balance sheet consisted of the following amounts: What is Ronald’s retained earnings balance at the end of the current year? Cash $ 25,000; Accounts receivable $ 46,000; Property, plant, and equipment 69,000;Long-term debt 41,000; Capital stock 107,000; Accounts payable 22,000; Retained earnings ?Inventory 33,000
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