Question

1. If the assets of a business increased $89,000 during a period of time and its...

1.

If the assets of a business increased $89,000 during a period of time and its liabilities increased $67,000 during the same period, equity in the business must have:

0.5分

A.

Increased $22,000.

B.

Decreased $22,000.

C.

Increased $89,000.

D.

Decreased $156,000.

E.

Increased $156,000.

2.

If the liabilities of a company increased $74,000 during a period of time and equity in the company decreased $19,000 during the same period, what was the effect on the assets?

0.5分

A.

Assets would have increased $55,000.

B.

Assets would have decreased $55,000.

C.

Assets would have increased $19,000.

D.

Assets would have decreased $19,000.

E.

None of these.

3.

If assets are $365,000 and equity is $120,000, then liabilities are

0.5分

A.

$120,000.

B.

$245,000.

C.

$365,000.

D.

$485,000.

E.

$610,000.

4.

The statement of cash flows reports all of the following except:

0.5分

A.

Cash flows from operating activities.

B.

Cash flows from investing activities.

C.

Cash flows from financing activities.

D.

The net increase or decrease in assets for the period reported.

E.

The net increase or decrease in cash for the period reported.

5.

The basic financial statements include all of the following except:

0.5分

A.

Balance Sheet.

B.

Income Statement.

C.

Statement of Owner's Equity.

D.

Statement of Cash Flows.

E.

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