Answer the following statements true (T) or false (F)

1. An account numbered 101 would most likely represent a revenue account.
2. An expense that has been incurred but not yet paid is an asset.
3. Dividends increase Stockholders' Equity.
4. The Stockholders' Equity section would include accounts such as Retained Earnings and Revenues.
5. Items of value that a company owns are called Stockholders' Equity.


1. FALSE
2. FALSE
3. FALSE
4. TRUE
5. FALSE

Business

You might also like to view...

With which step does the progressive discipline process end?

A. a written warning and a threat of temporary suspension B. an official written warning C. termination D. an unofficial spoken warning E. temporary suspension and a written notice

Business

What is the major difference between the traditional version of value chain and the new perspective of value chain?

What will be an ideal response?

Business

Direct or indirect quid pro quo influencing is known as ______.

A. apprising B. consultation C. inspirational D. exchange

Business

A well prepared budget will do all of the following except

a. The manner in which resources will be allocated b. A well prepared budget will do all of these things. c. Show how the organization expects to accomplish these objectives. d. Show what the organization hopes to accomplish.

Business