Esercitazione esame Environmental accounting risposta multipla con soluzioni

Domande sulle transazioni aziendali

C) Taxes payable. D) Notes payable. 12) Which of the following reflects the impact of a transaction where $200,000 cash was invested by stockholders in exchange for stock? A) Assets and retained earnings each increased $200,000. B) Assets and revenues each increased $200,000. C) Stockholders' equity and revenues each increased $200,000. D) Stockholders' equity and assets each increased $200,000. 13) A corporation purchased factory equipment using cash. Which of the following statements regarding this purchase is correct? A) The cost of the factory equipment is an expense at the time of purchase. B) The total assets will not change. C) The total liabilities will increase. D) The current stockholders' equity will decrease. 14) Which of the following direct effects on the accounting equation is not possible as a result of a single business transaction which impacts only two accounts? A) An increase in a liability and a decrease in an asset. B) An increase in stockholders' equity and an

increase in an asset.

An increase in an asset and a decrease in an asset.

A decrease in stockholders' equity and a decrease in an asset.

Which of the following direct effects on the accounting equation is not possible as a result of a single business transaction which impacts only two accounts?

An increase in an asset and a decrease in another asset.

An increase in an asset and an increase in stockholders' equity.

A decrease in stockholders' equity and an increase in an asset.

An increase in a liability and an increase in an asset.

Financial Accounting

Financial positions

MULTIPLE CHOICE questions

Which of the following statements about stockholders' equity is false?

Stockholders' equity is the shareholders' residual interest in the company resulting from the difference in assets and liabilities.

Stockholders' equity accounts are increased with credits.

Stockholders' equity results only from contributions of the owners.

1) The purchase of land for cash has no effect on stockholders' equity.

2) Assets, liabilities, and stockholders' equity are all found within the Balance sheet.

3) Which of the following statements is incorrect concerning balance sheets prepared under IFRS and GAAP?

A) The same elements are used in preparing balance sheets under both GAAP and IFRS.

B) Under IFRS stockholders' equity is listed before liabilities, while under GAAP liabilities are listed before stockholders' equity.

C) Under GAAP assets are usually listed in increasing order of liquidity, while under IFRS assets are usually listed in decreasing order of liquidity.

D) Under GAAP current items are presented first, while under IFRS noncurrent items are presented first.

4) In what order would the following assets be listed on a balance sheet?

A) Cash,

1. Short-term Investments, Accounts Receivable, Inventory.
2. Cash, Intangible Assets, Accounts Receivable, Property and Equipment.
3. Cash, Accounts Receivable, Property and Equipment, Inventory.
4. Cash, Inventory, Intangible Assets, Accounts Receivable.

5) Where would changes in stockholders' equity resulting from financing provided by operations be reported?

A) Within a long-term asset account.

B) Within the additional paid-in capital account.

C) Within a liability account.

D) Within the retained earnings account.

6) Which of the following events will cause retained earnings to increase?

A) Dividends declared by the Board of Directors.

B) Net income reported for the period.

C) Net loss reported for the period.

D) Issuance of stock in exchange for cash.

7) Which of the following correctly describes retained earnings?

A) It is the cumulative earnings of a company.