【正文】 oth general and specific principles.B.All of these.s owner in the records and reports of the business would be in conflict with the:Business entity principle.D.120.Cost principle.C.sl: C5Are based on long used accounting practices.B.All of these.A.Means that a business may not reorganize revenue until cash is received.E.The rule that (1) requires revenue to be recognized at the time it is earned, (2) allows the inflow of assets associated with revenue to be in a form other than cash, and (3) measures the amount of revenue as the cash plus the cash equivalent value of any noncash assets received from customers in exchange for goods or services, is called the:Revenue recognition principle.D.124.Goingconcern principle.C.sl: C5Hopes to create harmony among accounting practices of different countriesB.Only applies to panies that are members of the European Union.A.Business entity principleE.A limited partnership:Has owners called stockholders.D.130.Has unlimited liability.C.sl: C5s assets at:The cash paid only, even if something other than cash was given in the exchange.D.133.Continuingconcern principle.C.135.$85,000 increaseB.None of theseA.Assets increase $85,000。 owner39。s equity increases $140,000E.If a parcel of land that was originally purchased for $85,000 is offered for sale at $150,000, is assessed for tax purposes at $95,000, is recognized by its purchasers as easily being worth $140,000, and is sold for $137,000. At the time of the sale, assume that the seller still owed $30,000 to TrustOne Bank on the land that was purchased for $85,000. Immediately after the sale, the seller paid off the loan to TrustOne Bank. What is the effect of the sale and the payoff of the loan on the accounting equation?s equity increases $22,000。s equity increases $30,000。s equity increases $52,000。s equity decreases $30,000。s equity decreases $55,000。A.Selling stock.E.Planning activities:Involve defining the ideas, goals, and actions of an organization.D.sy: C6Are the means organizations use to pay for resources like land, buildings and equipment.B.Are also called strategic management.A.All of these.A.Selling inventory.E.Net Ine:Equals assets minus liabilities.D.syt146.Revenues.C.Expenses.s earnings activities are:Liabilities.D.sytAssets minus liabilities.B.The excess of expenses over equity.s assets and its liabilities, or net assets is:Equity.D.150.Net losses.B.Liabilities.A.Expenses.E.152.Ine statement equation.B.Net ine.A.Accounting equation.E.Expenses:s earning activity.C.sytOccurs when revenues exceed expenses.B.Represents assets taken from a pany for an owner39。Revenues are:Resources owned or controlled by a panyD.sytIs an informationt system.B.s activities.E.If assets are $99,000 and liabilities are $32,000, then equity equals:$99,000.D.159.Expenses.C.syNet assets.B.A liability.A.Claims on them can be shared between creditors and owners.E.A payment to an owner is called a(n):Expense.D.163.Expenses.C.syRevenues minus expenses equals net ine.B.Assets minus liabilities and equity. the liabilities, $200,000. What are the claims of the owners?$500,000.D.yt Supplies, $650。A.$31,100E.Assets created by selling goods and services on credit are:Liabilities.D.168.Recordkeeping or bookkeeping.C.syAssets, $30,000 increase。 liabilities, $30,000 decrease。 equity, no effect.D.Assets, $30,000 decrease。170. equity $30,000 decrease. liabilities, $30,000 decrease。Assets, $30,000 decrease。 equity, $30,000 increase.B.Photometer Company paid off $30,000 of its accounts payable in cash. What would be the effects of this transaction on the accounting equation?An asset.E.A.Equity.Accounts payable.B.yt$13,050C. Accounts Payable, $9,300. What is the amount of owner39。On June 30 of the current year, the assets and liabilities of Phoenix Phildell are as follows: Cash $20,500。It is impossible to determine unless the amount of this owners39。$900,000.B.165.The bookkeeping phase of accounting.D.The balance sheet equation is:Retained earnings.E.A.Investment.Liability.B.syThey are expected to provide future benefits to the business.C.161.Net loss.D.The excess of expenses over revenues for a period is:Revenue.E.A.$198,000.Equity = $99,000 $32,000 = $67,000$32,000.B.syHelps people make better decisionsD.Accountings earning activities.E.The same as net ine.B.sytEquals resources owned or controlled by a pany.D.Net ine:Occur when equity exceeds revenue.E.Increase equity.B.sytCost principle.C.153.Business equation.D.s assets, liabilities, and equity, which is expressed as Assets = Liabilities + Equity, is known as the:s Investment.Equity.C.151.Revenues.D. claims on the assets of a pany are called:Net loss.Net ine.B.149.An asset.D.Net ine is:s Equity.E.Assets.B.147.Owner39。A. Assets = $192,000 + $300,000 = $492,000Represents owners39。Decreases equity.B.l: C6Withdrawals by the owner.C.143.Financing.C.142.Involve acquiring and disposing of resources that a business uses to acquire and sell its products or services.D.Operating activities:s plans.E.Are the means organizations use to pay for resources.B.l: C6Purchasing office equipment.C.139.Assets decrease $55,000。Assets decrease $30,000。Assets increase $22,000。Assets increase $52,000。Assets increase $52,000。lt: C5Assets increase $140,000。s equity increases $85,000C. owner39。1