Can someone please help me Accounting Questions? 1. Which of the following would be an external user of accounting information? a. b. Executive Director C. Vice President of finance bank loan officer d. Chief Financial Officer 2. What is the feature that enables users of financial statements to compare over time? a. b. c. reliability relevance d. consistency Comparing 3. The auditors are responsible for a. the preparation of a company financial statements in accordance with GAAP b. preparing a forecast of revenue of the company in accordance with GAAP c. determine whether a company prepared its financial statements under GAAP d. determine whether their clients' financial statements prepared accurately 4. Companies buy and sell property and equipment as a result of that business? a. b. c. investing financing d. performance Audit 5. As Co. has total assets worth $ 3,000,000 and total liabilities in the amount of $ 2,000,000. He sold his shares to new shareholders of $ 1,000,000 in cash. As a result of this transaction a. the ratio of debt to assets increase b. turnover of assets will increase c. the ratio of debt to assets is reduced d. the ratio of net profit margin will decline 6. The following information is available for Aztech Total assets $ 800,000 Net Income 120,000 Average sales total liabilities 400,000 Total liabilities 1,500,000 Income 500.000 Average total assets 700,000 The net profit margin ratio a. B. 8% C. 12.5% d. 15% 17.1% 7. North Co. understated its expenses for the year. As a result a. its ratio of debt to assets is underestimated b. its ratio of net profit margin will be underestimated c. its ratio of debt to assets is overstated d. its ratio of net profit margin is overstated 8. Which of the following results in an expense for a business? a. b. purchase of land for payment of publicity last month c. payment of a dividend d. supplies 9. Which of the situations in the revenue forgone in the results? a. collection of $ 100 for a client who commissioned the purchase of goods a month ago b. receiving a request from a client to buy and pay for goods in two weeks c. the sale of goods $ 100 today with the payment owed by the customer in 30 days d. receiving $ 100 in cash from a customer for an order for goods to be shipped the next 10 months. Which of the following is a stockholders' equity item? a. b. contributed capital c. cash accounts receivable d. accounts payable 11. Which of the following will reduce the capital? a. b. the purchase of equipment c. the purchase of supplies d. receiving a loan wages 12. If a company receives cash until after they deliver the goods a. should expect to receive in cash until revenue b. should record revenue earned at the time goods delivery c. should record revenue at the time it delivers the goods d. should increase the amount of accounts receivable at the time it is paid by the client 13. Dividends paid to shareholders a. are a reduction of retained earnings b. appear in the cash flow from operations section of the statement of cash flows c. in the income statement d. contributed capital is subtracted from 14. Net income is a. b. Assets and liabilities revenues minus expenses c. contributed capital less dividends d. capital minus liabilities 15. Which of the following statements is prepared from a point in time? a. b. income statement statement of retained earnings c. d. balance cash flow statement 16. Village Corp has assets of $ 20,000 and stockholders' equity of $ 12,000. The amount of liabilities is a. B. $ 8,000 C. 12,000 20,000 d. 32,000 17. Which of the following that appear in the cash flow from operations section of the statement of cash flows a. Cash paid to suppliers and employees b. paid in cash to purchase equipment c. paid in cash to pay notes d. Cash dividends paid by 18. The amount of cash shown on the balance sheet appears also a. as the ending balance in the statement of retained earnings b.
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