Homework Answers
answer) option D
None of the above is correct
Balance sheet contains assets. liabilities and capital whereas revenue and expenses form part of income statement.
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This Question: 2 pts The balance sheet contains: O A. Liabilities, Expenses and capital. O B....
QUESTION 7 A balance sheet includes- O a assets; liabilities; net worth and- income; expenses; net...
QUESTION 7 A balance sheet includes- O a assets; liabilities; net worth and- income; expenses; net worth Od assets; expenses; liabilities QUESTION 8 The U.S. government measures inflation using Oa the gross domestic product. O b the index of leading economic indicators 。c.consumer confidence index Od the consumer price index
1. The balance sheet lists which of the following? a. revenues, expenses, gains, and losses b....
1. The balance sheet lists which of the following? a. revenues, expenses, gains, and losses b. assets, liabilities, and owners’ equity c. revenues, expenses, gains, and distributions to owners d. assets, liabilities, and investments by owners 2. Exchanges of assets for assets have what effect on equity? a. There is no relationship between assets and equity b. increase equity c. may have no impact on equity d. decrease equity 3. Identify the correct components of the income statement. a. revenues,...
Which of the following statements is not true? Expenses increase owner's equity. a. O b. Expenses...
Which of the following statements is not true? Expenses increase owner's equity. a. O b. Expenses have normal debit balances. Expenses decrease owner's equity. Od. Expenses are a negative factor in the computation of net income. Which one of the following could represent the expanded basic accounting equation? O a. Assets = Liabilities + Owner's Capital + Owner's Drawings - Revenue - Expenses. Ob. Assets + Owner's Drawings + Expenses = Liabilities + Owner's Capital + Revenues. Oc. Assets -...
Which of the following statements about the balance sheet is most correct? O The balance sheet...
Which of the following statements about the balance sheet is most correct? O The balance sheet provides information about the financial position of an organization as of a moment in time. O The balance sheet provides detailed information about the assets, liabilities, equity, revenues, and expenses of an organization. O The balance sheet is affected by changes in the net income of the organization. O Statements a. and c. are both correct. O Statements a, b, and c. are all...
Question 18 1 pts Table: Bank Balance Sheet Bank Balance Sheet Assets Liabilities & Net Worth...
Question 18 1 pts Table: Bank Balance Sheet Bank Balance Sheet Assets Liabilities & Net Worth Reserves $ 10,000 Deposits $100,000 Loans 100,000 Debt 20,000 Securities 40.000 Equity 30,000 Based on the table, what is the leverage ratio and reserve-deposit ratio at the bank? Would the bank become insolvent (negative capital) with a 10% loss in the value of assets? O 5, 10% and Yes O 3,6.6% and Yes O 5, 10% and No O 3, 10% and No
D Question 11 2 pts Which one of the following groups of accounts contains only assets?...
D Question 11 2 pts Which one of the following groups of accounts contains only assets? O Contributed capital, retained earnings, revenues. O Cash, contributed capital, retained earnings. O Prepaid expenses, land, accounts receivable. Building, equipment, depreciation expense. 2 pts Question 12 Why are liabilities separated into current and long-term? O Users want to know which amounts will be paid using current assets. Because current and long-term classifications are just common sense. This format helps a company determine how much...
1. A balance sheet indicates insolvency when A. Its capital exceeds its liabilities B. Its assets...
1. A balance sheet indicates insolvency when A. Its capital exceeds its liabilities B. Its assets exceeds its liabilities C. Its liabilities exceeds its assets D. Its capital is less than its liabilities 2. Which of the following is an asset on a bank’s balance sheet? A. Capital B. Checkable deposits C. Loans D. None of the previous 3. The share of checkable deposits as a percentage of a bank’s liabilities has? A. Expanded moderately over time B. Expanded dramatically...
Test: Exam - Chapter 02 This Question: 2 pts 23 of 25 (15 complete) On the...
Test: Exam - Chapter 02 This Question: 2 pts 23 of 25 (15 complete) On the trial balance, which account balances should be listed in the credit column? O A. Assets, Retained Earnings, and Expenses O B. Liabilities, Common Stock, and Expenses C. Liabilities, Retained Earnings, and Revenues OD. Assets, Dividends, and Expenses W O creas Che 20XX md credit - Cheg- Click to select your answer. Ow all X
On the trial balance, which account balances should be listed in the debit column? A. Liabilities,...
On the trial balance, which account balances should be listed in the debit column? A. Liabilities, Revenues, and Common Stock O B. Liabilities, Revenues, and Dividends O C. Assets, Dividends, and Expenses OD. Assets, Revenues, and Dividends
Question 7 1 pts Examples of current liabilities are 6-month notes payable, salaries payable, and unearned...
Question 7 1 pts Examples of current liabilities are 6-month notes payable, salaries payable, and unearned revenue. O True O False Question 8 1 pts Which of the following is true of the work sheet? Assets are extended into the Balance Sheet columns as credits. O Expenses are extended into the Income Statement columnas debits. Liabilities are extended into the Balance Sheet columns as debits. Revenues are extended into the Income Statement columns as debits. Question 5 1 pts Which...
QUESTION 7 A balance sheet includes- O a assets; liabilities; net worth and- income; expenses; net worth Od assets; expenses; liabilities QUESTION 8 The U.S. government measures inflation using Oa the gross domestic product. O b the index of leading economic indicators 。c.consumer confidence index Od the consumer price index
Which of the following statements is not true? Expenses increase owner's equity. a. O b. Expenses have normal debit balances. Expenses decrease owner's equity. Od. Expenses are a negative factor in the computation of net income. Which one of the following could represent the expanded basic accounting equation? O a. Assets = Liabilities + Owner's Capital + Owner's Drawings - Revenue - Expenses. Ob. Assets + Owner's Drawings + Expenses = Liabilities + Owner's Capital + Revenues. Oc. Assets -...
Which of the following statements about the balance sheet is most correct? O The balance sheet provides information about the financial position of an organization as of a moment in time. O The balance sheet provides detailed information about the assets, liabilities, equity, revenues, and expenses of an organization. O The balance sheet is affected by changes in the net income of the organization. O Statements a. and c. are both correct. O Statements a, b, and c. are all...
Question 18 1 pts Table: Bank Balance Sheet Bank Balance Sheet Assets Liabilities & Net Worth Reserves $ 10,000 Deposits $100,000 Loans 100,000 Debt 20,000 Securities 40.000 Equity 30,000 Based on the table, what is the leverage ratio and reserve-deposit ratio at the bank? Would the bank become insolvent (negative capital) with a 10% loss in the value of assets? O 5, 10% and Yes O 3,6.6% and Yes O 5, 10% and No O 3, 10% and No
D Question 11 2 pts Which one of the following groups of accounts contains only assets? O Contributed capital, retained earnings, revenues. O Cash, contributed capital, retained earnings. O Prepaid expenses, land, accounts receivable. Building, equipment, depreciation expense. 2 pts Question 12 Why are liabilities separated into current and long-term? O Users want to know which amounts will be paid using current assets. Because current and long-term classifications are just common sense. This format helps a company determine how much...
Test: Exam - Chapter 02 This Question: 2 pts 23 of 25 (15 complete) On the trial balance, which account balances should be listed in the credit column? O A. Assets, Retained Earnings, and Expenses O B. Liabilities, Common Stock, and Expenses C. Liabilities, Retained Earnings, and Revenues OD. Assets, Dividends, and Expenses W O creas Che 20XX md credit - Cheg- Click to select your answer. Ow all X
On the trial balance, which account balances should be listed in the debit column? A. Liabilities, Revenues, and Common Stock O B. Liabilities, Revenues, and Dividends O C. Assets, Dividends, and Expenses OD. Assets, Revenues, and Dividends
Question 7 1 pts Examples of current liabilities are 6-month notes payable, salaries payable, and unearned revenue. O True O False Question 8 1 pts Which of the following is true of the work sheet? Assets are extended into the Balance Sheet columns as credits. O Expenses are extended into the Income Statement columnas debits. Liabilities are extended into the Balance Sheet columns as debits. Revenues are extended into the Income Statement columns as debits. Question 5 1 pts Which...
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