Monday, April 13, 2015

68 Test Bank for Financial ACCT Asia Pacific 1st Edition by Tyler

68 Free test bank for ACCT Financial Asia Pacific 1st Edition by Tyler multiple choice questions contain valuable tools that support the understanding of most important concepts and effectively prepare for financial statements annually in the business career. With specific questions and available answers in great test bank materials for financial accounting for free, we will aid learners in develop knowledge as well as the underlying concepts. Start studying now!
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How is the statement of financial position linked to the other financial statements?
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Refer to the following information for Tarp Corporation. Beginning retained earnings $550 000; Ending retained earnings 700 000; Dividends paid 100 000; Revenue 525 000. The company's expenses are:
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If a company has $10 500 000 of revenues, declares and pays $550 000 in dividends, and has profit of $1 600 000, how much were expenses for the year?
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The going concern assumption is concerned with:
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On 1 July 2012, Blackstone Company reported assets of $1 000 000 and liabilities of $600 000. During 2013 assets decreased by $200 000 and equity decreased $250 000. What is the amount of equity at 30 June 2013?
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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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Which financial statement would you analyse to determine its operating performance for the past year?
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Jetson Corp. reported the following information for the year ended 30 June 2013. Revenue $14 000 000; Expenses 11 500 000; Dividends 1 000 000; Retained earnings at 30 June 2013 1 750 000. What was the retained earnings balance at 30 June, 2012?
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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 one of the following financial statements shows the end of the year cash balance for a business entity?
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Which one of the following is not one of the three business activities?
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Which one of the following items appears on a statement of financial position?
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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 with the information needed to evaluate your concern?
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Bailout Corp. reported the following information for the year ended 30 June 2013. Revenues $2 500 000; Expenses 2 000 000; Retained earnings at 30 June 2012 100 000; Retained earnings at 30 June 2013 450 000. How much was paid out in dividends in 2013?
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Which of the following statements is true regarding economic events?
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Which one of the following involves a liability for a business?
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The time period assumption is necessary because:
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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 best describes the term ‘retained earnings’?
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Ponzi Corporation reported the following information for the year ended 30 June 2013. Profit $100 000; Dividends 6 000; Retained earnings at 30 June 2013 $120 000. What was the balance of retained earnings at 1 July 2012?
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‘Expenses’ are best described as:
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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 of the following terms best describes a distribution of the profit of a company to its owners?
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Which of the following is an organisation that lends funds to a business entity and expects repayment of the funds?
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Refer to the following information for Tarp Corporation. Beginning retained earnings $550 000; Ending retained earnings 700 000; Dividends paid 100 000; Revenue 525 000. What is the profit for Tarp Corp.?
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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 is an assumption made in the preparation of financial statements?
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The resources used to generate revenues during a period are called:
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Ponzi Corporation reported the following information for the year ended 30 June 2013. Profit $100 000; Dividends 6 000; Retained earnings at 30 June 2013 $120 000. What was the economic effect of the payment of Ponzi's dividends?
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Which of the following underlying assumptions of the conceptual framework is the reason the dollar is used in the preparation of financial statements?
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On 1 July 2012, Money Company's balance in retained earnings was $10 000 000. At the end of the year, 30 June 2013, the balance in retained earnings was $9 400 000. During 2013, the company earned profit of $440 000. How much were dividends?
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