Which forms of business organizations are considered to be separate accounting entities?
a. only corporations.
b. sole proprietorships, corporations, and partnerships.
c. sole proprietorships and partnerships only.
d. partnerships and corporations only.
Answer: B
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Accounting 2000 Chapter 1
- The most common description of IFRS as contrasted to GAAP is that
- Which section of the annual report presents highlights of favorable or unfavorable trends and identifies significant events and uncertainties affecting a company's ability to pay near-term obligations, and a company's ability to fund operations and expansion?
- An annual report includes all of the following except
- When the auditor is satisfied that the financial statements provide a fair representation of the company's financial position and results of operation in accordance with generally accepted accounting principles, the auditor will express
- The segment of the annual report that presents an opinion regarding the fairness of the presentation of the financial position and results of operations is/are the
- The segment of a corporation's annual report that describes the corporation's accounting methods is the
- Stockholders' equity represents
- The ending retained earnings balance appears on
- How do you find stockholder's equity at the end of the year?
- T/F The statement of cash flows reports net income, investing, and financing activities?
- Which of the following would not appear on the retained earnings statement?
- What kind of classification is cost of goods sold?
- Which of the following is an example of a financing activity?
- The payment of dividends is an example of a(n)
- Paying interest expense and receiving interest revenue are examples of
- T/F Interest expense is classified under operating activities on the statement of cash flows.
- Which of the following is required as a result of SOX?
- Which of the following did not result from the Sarbanes-Oxley Act?
- Which of the following is not an external user of accounting data?
- The most common description of IFRS as contrasted to GAAP is that
- Which of the following are not considered to be primary users of financial statements in countries outside the U.S.?
- Which section of the annual report presents highlights of favorable or unfavorable trends and identifies significant events and uncertainties affecting a company's ability to pay near-term obligations, and a company's ability to fund operations and expansion?
- An annual report includes all of the following except
- When the auditor is satisfied that the financial statements provide a fair representation of the company's financial position and results of operation in accordance with generally accepted accounting principles, the auditor will express
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