quiz

In which forms of business organization are the owners personally liable for all the debts of the business?

Practice Question 10

Which of the following is not an external user of accounting data?

Practice Question 26

The financial statements for Harold Corporation contained the following information:

How much was Harold’s net income?

Practice Question 29

In which of the following sequences are the financial statements usually prepared?

ractice Question 48

Which of the following are not considered to be primary users of financial statements in countries outside the U.S.?

Practice Question 14

For 2017, Stoneland Corporation reported net income, $24,000; net sales, $400,000; and average shares outstanding, 6,000. There were no preferred stock dividends. How much was the 2017 earnings per share?

Practice Question 23

The following ratios are available for Leer Inc. and Stable Inc.

Compared to Stable Inc., Leer Inc. has

Practice Question 18

At December 31, 2017, Shorts Company had retained earnings of $2,184,000. During 2017, the company issued stock for $98,000, and paid dividends of $34,000. Net income for 2017 was $402,000. How much was the retained earnings balance at the beginning of 2017?

Practice Question 27

Which of the following ratios measures the ability of the company to survive over a long period of time?

Practice Question 38

What are the accounting rules that have substantial authoritative support and are recognized as a general guide for financial reporting purposes in the U. S.?