Question : Multiple Choice Questions 31. Which of the following statements about stockholders’ equity : 1228481

 

Multiple Choice Questions
 

31. Which of the following statements about stockholders’ equity is false? 
A. Stockholders’ equity is the shareholders’ residual interest in the company resulting from the difference in assets and liabilities.
B. Stockholders’ equity accounts are increased with credits.
C. Stockholders’ equity results only from contributions of the owners.
D. The purchase of land for cash has no effect on stockholders’ equity.

32. Assets, liabilities, and stockholders’ equity are found within which of the following financial statements? 
A. Balance sheet
B. Income statement
C. Statement of retained earnings
D. Statement of cash flows

33. An account payable would be reported within which of the following financial statements? 
A. Statement of cash flows
B. Income statement
C. Balance sheet
D. Statement of retained earnings

34. Which of the following assumptions implies that a business can continue to remain in operation into the foreseeable future? 
A. Historical cost principle
B. Unit-of-measure assumption
C. Continuity assumption
D. Separate-entity assumption

35. Which of the following best describes assets? 
A. Resources with possible future economic benefits owed by an entity as a result of past transactions.
B. Resources with probable future economic benefits owned by an entity as a result of past transactions.
C. Resources with probable future economic benefits owned by an entity as a result of future transactions.
D. Resources with possible future economic benefits owed by an entity as a result of future transactions.

36. Which of the following assumptions implies that the assets and liabilities of the business are accounted for separately from the assets and liabilities of the owners? 
A. Unit-of-measure assumption
B. Continuity assumption
C. Historical cost principle
D. Separate entity assumption

37. Which of the following best describes liabilities? 
A. Possible debts or obligations of an entity as a result of future transactions which will be paid with assets or services.
B. Possible debts or obligations of an entity as a result of past transactions which will be paid with assets or services.
C. Probable debts or obligations of an entity as a result of future transactions which will be paid with assets or services.
D. Probable debts or obligations of an entity as a result of past transactions which will be paid with assets or services.

38. Which of the following is included within current assets on a balance sheet? 
A. Land used in daily operations.
B. A truck used in daily operations.
C. Inventory which takes two years to manufacture.
D. Intangible assets.

39. Chad Jones is the sole owner and manager of Jones Glass Repair Shop. Jones purchased a truck for $30,000 to be used in the business. Which of the following fundamentals requires Jones to record the truck at the price paid to buy it? 
A. Separate-entity assumption
B. Revenue principle
C. Unit-of-measure assumption
D. Historical cost principle

40. In what order are current assets listed on a balance sheet? 
A. By dollar amount (largest first).
B. By date of acquisition (earliest first).
C. By liquidity.
D. By relevance to the operation of the business.

 

 

Place your order
(550 words)

Approximate price: $22

Calculate the price of your order

550 words
We'll send you the first draft for approval by September 11, 2018 at 10:52 AM
Total price:
$26
The price is based on these factors:
Academic level
Number of pages
Urgency
Basic features
  • Free title page and bibliography
  • Unlimited revisions
  • Plagiarism-free guarantee
  • Money-back guarantee
  • 24/7 support
On-demand options
  • Writer’s samples
  • Part-by-part delivery
  • Overnight delivery
  • Copies of used sources
  • Expert Proofreading
Paper format
  • 275 words per page
  • 12 pt Arial/Times New Roman
  • Double line spacing
  • Any citation style (APA, MLA, Chicago/Turabian, Harvard)

Our guarantees

Delivering a high-quality product at a reasonable price is not enough anymore.
That’s why we have developed 5 beneficial guarantees that will make your experience with our service enjoyable, easy, and safe.

Money-back guarantee

You have to be 100% sure of the quality of your product to give a money-back guarantee. This describes us perfectly. Make sure that this guarantee is totally transparent.

Read more

Zero-plagiarism guarantee

Each paper is composed from scratch, according to your instructions. It is then checked by our plagiarism-detection software. There is no gap where plagiarism could squeeze in.

Read more

Free-revision policy

Thanks to our free revisions, there is no way for you to be unsatisfied. We will work on your paper until you are completely happy with the result.

Read more

Privacy policy

Your email is safe, as we store it according to international data protection rules. Your bank details are secure, as we use only reliable payment systems.

Read more

Fair-cooperation guarantee

By sending us your money, you buy the service we provide. Check out our terms and conditions if you prefer business talks to be laid out in official language.

Read more