A Grade Multiple Choice Questions & Answers , A Grade Answers
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Course
ACCT 1004S Week 6 Exam
Institution
Walden University
A Grade Multiple Choice Questions & Answers , A Grade Answers
1. Question: Which information might be specifically included in the notes to the financial statements portion of the annual report?
2. Question: Consider the following scenario:
Which of the following would the company delcar on an...
QUESTION 1
1. Which information might be specifically included in the notes to the financial
statements portion of the annual report?
net income
accounting
methos
reporting
period
balance sheet
QUESTION 2
1. Consider the following scenario:
1. During the fourth quarter of the year, Carl's Carpet Cleaning received
$4,000 from customers in exchange for providing carpet cleaning services.
2. During the same time, carpet cleaning supplies were $1,000, and wages were
$2,000.
3. The business has $5,000 in total assets.
Which of the following would the company delcar on an income statement?
$9,000 net
income
$4,000
revenue
$1,000 net loss
$2,000
expenses
QUESTION 3
1. You are the accountant for Pacific Paper and preparing the firm’s statement of cash
flows. Which of the following would you categorize as cash flows from investing
activities?
$10,000 paid in dividends to shareholders
$55,000 paid for monthly employee wages
$25,000 received from a bank loan
$98,000 received for selling processing
equipment
QUESTION 4
1. Which number is transferred from the income statement to the statement of retained
earnings?
gross profit
cost of goods
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