Question

QUESTION 9 Constraints on qualitative characteristics of accounting information include: Freedom from material error. Going concern. Neutrality Cost effectiveness. QUESTION 10 Creditors' claims to a corporation's resources are referred to as: Dividends. Assets. Liabilities Stockholders' equity. QUESTION 11 DW has an ending Retained Earnings balance of $51,100. If during the year DW paid dividends of $4,300 and had net income of $22,500, then what was the beginning Retained Earnings balance? $24,300 $32,900. $300 $69,300.

Answer 1

Question 9

Correct answer----Cost effectiveness

Question 10

Correct answer----Liabilities

Creditors are current liabilities of a business. Creditors are those from whom business has purchased or taken service on account. Creditors are basically accounts payables.

Question 11

Correct answer----$69,300

Beginning balance	$ 51,100.00
Add: Net income	$ 22,500.00
Subtotal	$ 73,600.00
Less dividend	$    4,300.00
Ending balance	$ 69,300.00