【正文】 Assets, no effect。A business transaction.D.$40,400$20,500 + $7,250 + $650 + $12,000 $9,300 = $31,100$200,000.E.164.A.Equity.C.$131,000.E.157.Is the same as revenue.C.Transaction principle.The description of the relation between a pany39。Expenses.C.sytA.145.Paying wages of employees.B.Involve using resources to research, develop, purchase, produce, distribute and market products and services.C.Paying off a loan. liabilities decrease $30,000D.None of these$137,000 $85,000 = $52,000lt: C5Which of the following accounting principles would require that all goods and services purchased be recorded at cost?Has to have a written agreement in order to be legal.D.Revenue recognition principle125.A.Are basic assumptions, concepts, and guidelines in preparing financial statements.C.Goingconcern principle.E.117.A.FASB.C.Is the same as a limited liability partnership.E.slt: C5Managers to use accounting information to benefit themselves.E.A Certified Public AccountantBudgeting.B.All of these.99.To serve the decisionmaking needs of internal users.B.Communicates business activities.D.yy85.81.Generally the lower the risk, the lower the return that can be expected.sytsy63.TRUETRUEt48.The three major types of business activities are operating, financing, and investing.FALSEFALSEFALSE9.TRUE2.TRUE6.Owners of a corporation are called shareholders or stockholders.18.24.TRUEPlanning activities are the means an organization uses to pay for resources like land, buildings, and equipment to carry out its plans.Revenues are increases in equity from a pany39。54.tt65.FALSE72.TRUEs equity, and statement of cash flows.The statement of cash flows shows the net effect of revenues and expenses for a reporting period.Owner39。91.Has closely linked accounting with consulting, planning, and other financial services.D.A.100.Tax accounting.D.Certified Public Accountant.B.Ethical behavior requires:Requires that all businesses conduct social audits.E.sl: C5Intended to make information in financial statements relevant, reliable, and parable.E.FASB.C.A.119.Realization principle.E.Means that information can be based on what the preparer thinks is true.C.A.126.May only have two partners.The cash equivalent value of what was given up or received.B.s books is:s equity increases $85,000C.Assets increase $52,000。139.s plans.E.Financing.C.Decreases equity.B.Owner39。Net ine is:Net loss.Equity.C.153.Occur when equity exceeds revenue.E.The same as net ine.B.syRevenue.E.They are expected to provide future benefits to the business.C.A.165. Accounts Payable, $9,300. What is the amount of owner39。Equity. equity, $30,000 increase.B.170.Assets, $30,000 increase。Liabilities.D. Supplies, $650。Assets minus liabilities and equity.163.A.Expenses.C.s activities.E.Revenues are:s earning activity.C.Net ine.A.Equity.D.sytRevenues.C.Net Ine:A.Involve defining the ideas, goals, and actions of an organization.D.s equity decreases $55,000。s equity increases $22,000。Assets increase $85,000。135.s assets at:Has owners called stockholders.D.Only applies to panies that are members of the European Union.124.A.Cost principle.C.All of these.116.A.Known as generally accepted accounting principles.C.A and C only.E.Is a code that helps in dealing with confidential information.C.sy: C3Accounting certifications include the:Auditing.B.Bookkeeping.98.Has replaced accounting.B.FALSEFALSEyy79.Return on assets measures the effectiveness of an organization39。FALSEOwner39。FALSEA pany might provide a service or product on credit. On credit implies that the cash payment will occur on a later date.The accounting equation can be restated as: Assets Equity = Liabilities.TRUEyStrategic management is the process of determining the right mix of operating activities for the type of organization, its plans, and its markets.29.A sole proprietorship is a business owned by one or more persons.The business entity principle means that a business will continue operating for an indefinite period of time.FALSEs5.TRUE3.FALSEAccounting information is municated to various parties through financial statements.Specific accounting principles are basic assumptions, concepts, and guidelines for preparing financial statements and arise out of longused accounting practice.The idea that a business will continue to operate until it can sell its assets to pay its creditors underlies the goingconcern assumption.33.TRUENet ine occurs when revenues exceed expenses.56.60.s creditors take precedence over the claims of the business owner.From an accounting perspective, an event is a happening that affects an entity39。Net assets always increase when revenue is recorded.Reebok39。g: A4FALSEFALSEOperating activities include longterm borrowing and repaying cash from lenders, and cash investments or withdrawals by the owner.Chuck Taylor invested $175,000 cash in FastForward. This amount would be reported in the statement of cash flows under financing activities.All of these.s activities.C.A.101.Cost accounting.D.Must meet education and experience requirementsB.AACSB: Ethicsl: C4Businesses can take the following form(s):sl: C5SEC.E.Business entity assumption.C.A.sl: C5Arise from the ruling