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Purchases and sales of long-term assets are examples of: A) investing activities B) divi

Purchases and sales of long-term assets are examples of:

A) investing activities

B) dividend activities

C) financing activities

D) operating activities

42) Decreases in shareholders' equity result from:

A) owner investments

B) a net loss during the period

C) a net income during the period

D) owner investments and a net loss during the period

43) The payment of salaries would appear:

A) on the cash flow statement with the operating activities

B) on the balance sheet with the current liabilities

C) on the income statement with the revenues

D) on the income statement as part of cost of goods sold

44) Which of the following financial statements shows the net increase or decrease in cash during the period?

A) balance sheet

B) income statement

C) statement of retained earnings

D) cash flow statement

45) Which of the following statements should be prepared before the balance sheet is prepared?

A) statement of retained earnings

B) cash flow statement

C) statement of financial position

D) both the statement of retained earnings and the cash flow statement

46) The amount of net income shown on the income statement also appears on the:

A) balance sheet

B) statement of assets

C) statement of financial position

D) statement of retained earnings

47) The balance sheet contains:

A) the amount of net income

B) the beginning balance in retained earnings

C) the ending balance in retained earnings

D) the amount of dividends paid to shareholders

48) What is one component of shareholders' equity?

A) common shares

B) notes payable

C) property, plant, and equipment

D) cash

49) In accounting, the word "net" means after a subtraction.

Dec 07 2019 Read more Less More

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