112Quiz Submissios - Posttest #1Question 1 1 6 poin.docx

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Quiz Submissios - Posttest #1
Question 1 1 / 6 points
(Learning Outcome 5) Jimpson Corp. issued 2,000 shares of $15
par value common stock at
$18.00 per share for cash.
A) What account/s and amounts would you Debit in this
transaction?
B) What account/s and amounts would you Credit in this
transaction?
You must answer both A) and B) correctly to receive full credit
for this question.
The correct answer is not displayed for Written Response type
questions.
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(Learning Outcome 1) Benford Co. has Supplies totaling
17,500, Accounts Receivables of 20,250,
they have 97,525 in Cash on hand and the business has a 90,000
Notes Payable and owes
21,000 on account to the Brown Co. How much is Benford's
Owner's Equity? (Hint: Use the

accounting equation to help solve this problem)
Amount that would be debited in the transaction = 2000 x 18 =
$36000
Amount that would be credited in the transaction =36000 -(2000
x 15) =$6000
$66,275
$170,775
$24,275
$204,275
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(Learning Outcome 1) In 2017 Robot Inc. reported total assets
as $15,750 and total liabilities as
$8,560. You must show your calculations and answer both A)
and B) correctly to receive full
credit for this question.
A) Use the accounting equation to solve for the amount of
equity in 2017.
B) If in 2018, Robot's assets increase by $3,000 and the equity
decreases by $1,950, what will
be the amount reported for liabilities in 2018?

questions.
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(Learning Outcome 8) Pawla's Pet Resort provides the following
data:
2017 2016
Revenues $15,500 $13,900
Cost of
Goods Sold
$5,000 $6,250
Prepare a horizontal analysis of Revenues and Cost of Goods
Sold--both in dollar amounts and in
percentages. You must show your calculations to receive full
credit for this question. Round
your answer to the nearest percentage.
Total Equity = Total Assets - Total Liability
Total Assets= $ 15,750
Total Liability= $ 8560
Total Equity= $ 7190
Total Assets in 2018= 15750 + 3000
Total Assets= $20750
Total Equity in 2018= 7190- 1950

Total Equity= 5240
Amount Recorded for Liability= 20750-5240= $15510
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questions.
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(Learning Outcome 2) Bowen Services performed electrical
services for Peterson's Dept. Store
on account for $657. How would this transaction affect
Peterson's Dept. Store's accounting
equation?
(Learning Outcome 6) On January 1, 2016, Jiffy Inc. issued
$15,000 in bonds for $14,700. They
were six-year bonds with a stated rate of 9% and they pay
semiannual interest. Jiffy Inc. uses
the straight-line method to amortize the bond discount.
Immediately after the issue of the
bonds, the ledger balances appeared as follows:
Changes in revenues from 2016 to 2017 = 15,500 - 13,900
Revenue Change= $1600

Percentage revenue change= 1600/ 13900 x 100= 12 %
Changes in Costs of Goods Sold from 2016 to 2017 = 6250-
1000
Changes in Costs of Goods Sold= $1250
Percentage Change in Costs of Goods Sold =1250 / 5000 x 100
Percentage Change= 25%
increase assets and decrease liabilities by $657
increase liabilities and decrease equity by $657
increase assets and increase equity by $657
decrease liabilities and decrease equity by $657
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After the interest payment on December 31, 2019 what will be
the balance in the
discount account? You must show your calculations to receive
full credit for this
problem.
A) Debit of $275.
B) Debit of $100.
C) Credit of $25.

D) Debit of $225.
- No text entered -
questions.
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(Learning Outcome 3) Young Life, a retail merchandising
children's store has the following figures
on their Income Statement.
Revenue $155,500.
Delivery Expense 800.
Marketing Expense 9,900.
Salaries Expense 10,650.
Cost of Goods Sold 90,250.
A) What is Gross Profit?
B) What is Net Income?
Gross Profit= Sales- Cost of Goods Sold
Gross Profit= 155,500 - 90, 250
Gross Profit= $64750

Net Income= Total Expenses - Total Revenue
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questions.
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(Learning Outcome 4) Remington Company issued a $20,000,
90-day, 9% note on December
1st. What entry will Remington Company be required to make
on December 31st concerning
this note's interest? (Use a banker's year 360 days in your
calculations)
A) What account and amount would be debited?
B) What account and amount would be credited?
questions.
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(Learning Outcome 4) George's gross pay for the week is $800.
George's deduction for federal
income tax is based on a rate of 18%. He has a monthly medical
insurance deduction of $142.50.

His yearly pay is under the limit for OASDI. His FICA Social
Security rate is 6.2% and his FICA
Medicare rate is 1.45%. What is the amount of George's net
pay?
Total Expense= 9,900 + 800 + 10, 650
Total Expense= 21350
Net Income= 155,500 - 21, 350
Net Income= $134,150
Amount that would be debited = 9/100 x (20000 x 90) =
$162000
Amount that would be credited= 180,000- 162000= $18,000
$472.50
$800.
$455.30
$452.30
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(Learning Outcome 4) The following information is available
for Matt's Inc. July 2018 bank

reconciliation:
Book balance 6/30/18 $5,575.00
Outstanding Checks $345.00
Deposits in Transit $2,500.00
Service Charges $15.00
NSF check from customer
7/5
$35.80
Interest Earned on Acct. $10.80
What is the adjusted Book balance after the bank reconciliation?
questions.
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(Learning Outcome 5) Mathews Inc. had the following
transactions in 2018, its first year of
operations.
The book balance should be the account balance in the
company's accounting records.
The adjusted book balance can be calculated as follows:
Total Assets= 5575 + 2500 + 10.80 + 345= $8430

Total Liability= 35.80 + 15.00= $ 50.80
Adjusted book balance= Total Assets- Total Liability
Adjusted Book Balance = $8379.20
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• Issued 20,000 shares of common stock. Stock has par value of
$1.00 per share and was issued
at $14.00 per share.
• Issued 1,000 shares of $100 par value preferred stock. Shares
were issued at par.
• Earned net income of $35,000.
• Paid NO dividends.
At the end of 2018, what is the total amount of stockholders'
equity? You must show your
calculations to receive full credit for this problem.
A) $415,000
B) $120,000
C) $260,000
D) $380,000

questions.
(Learning Outcome 7) Paying a cash dividend would be
considered a Financing activity on a cash
flow statement.
(Learning Outcome 7) Use the following information to
compute the amount of cash provided by
Operating activities.
Collections on Account............................$4500.
Payments to employees...........................$1031.
Stockholder' Equity = Total Assets – Total Liabilities
Total Assets= 280000 + 100000 + 35,000 = 415,000
Total Liabilities= $0
Stockholders' Equity= 515000 - 00
Stockholders' Equity = $415, 000
True
False
8/12

Payments for taxes...................................$ 350.
Payments for interest...............................$ 42.
Payments to suppliers..............................$2225.
(Learning Outcome 3) In the closing process you will close the
Revenue account and transfer the
balance into:
(Learning Outcome 8) Which of the following is the base
amount when performing a vertical
analysis of a balance sheet?
Some other amount.
$1552.
$852.
$427.
Income Summary as a credit
Retained Earnings as a debit
Retained Earnings as a credit
Income Summary as a debit
net income

gross profit
total assets
Total cash and cash equivalents
11/27/2019 : Quiz Submissions - Posttest #1 - Fall 2019 -
Record Keeping for Leaders (ORGL-225-1CW) - Texas A&M -
Commerce
9/12
(Learning Outcome 6) A bond issued at premium:
(Learning Outcome 1) Which of the following statements is true
concerning financial
accounting?
(Learning Outcome 9) Which of the following is true of a cash
budget?
(Learning Outcome 8) Which of the following types of financial
statement analysis would be
used to see how sales revenue of a company has changed from
one year to the next?

when a bond's stated interest rate is higher than the market
interest rate.
when a bond's stated interest rate is less than the effective
interest rate.
when a bond's stated interest rate is less than the market interest
rate.
when a bond's stated interest rate is equal to the market interest
rate.
It focuses on planning and controlling the day-to-day
operations.
It provides needed information to investors for their investment
decisions.
It focuses on detailed reports for parts of the company rather
than the whole company.
It provides forward-thinking information for managing and
delegating operations.
It includes other cash collections and payments.
It includes cash payments for purchases of materials.
It includes cash collection from sales.
All of these are sections of a cash budget.
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(Learning Outcome 7) List the three major sections of a cash
flow statement.
questions.
(Learning Outcome 5) Which of the following statements is
false concerning a corporation?
(Learning Outcome 4) Salaries Expense represent the
employer's portion of payroll tax expenses
for their employees.
horizontal analysis of an income statement
vertical analysis of a balance sheet
horizontal analysis of a balance sheet
vertical analysis of an income statement
Operating activities
investing activities
Financing activities.
Investors can readily buy and sell shares of stock on the open

market.
Shareholders don't have the authority to sign contracts or make
business commitments
on behalf of the corporation
The corporation can use the personal assets of the shareholders
to pay the liabilities of
the corporation.
Corporations pay income tax on corporate earnings.
True
False
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(Learning Outcome 2) After a recent network crash the
following Trial Balance information was
recovered. The Drake Co. manager has verified the account
titles and balances are correct but
several balances are in the wrong column. After correcting the
mistakes, what is the correct Trial
Balance balancing total? Your debit column will equal your
credit column.
Account Title Debit Credit
Drake Capital $ 150,250
Drake Withdrawal $ 8,960
Fees Income $ 9,550
Cash $ 23,655
Prepaid Insurance $ 8,675
Unearned Income $ 6,125

Land $117,190
Accts. Rec. $ 8,500
Accts. Pay. $ 1,055
- No text entered -
questions.
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(Learning Outcome 9) Your company utilizes the "bottom up"
approach to the budgeting process.
From a department manager's perspective, describe in your own
words what "bottom up
budgeting" means (1 pt.) and two reasons why this is an
effective method for the budgeting
process.(2 pts.)
questions.
(Learning Outcome 3): Beginning in 2018 non-profit
organizations will report the net asset
classifications of temporarily restricted and permanently
restricted as:
.
Bottom up budgeting is a form of budgeting that seeks to
explore the underlying costs for

each individual department or segment of an organization and
then total up each department.
The purposes of bottom-up budgeting includes determining the
ideal budget that conforms to
the corporate objectives, and to identify profitable
opportunities.
net assets with donor restrictions
net assets without donor restrictions
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net liabilities
functional expenses
Communicating professionally and ethically is one of the
essential skillsets we can teach you at Strayer. The following
guidelines will ensure:
· Your writing is professional
· You avoid plagiarizing others, which is essential to writing
ethically
· You give credit to others in your work

Visit Strayer’s Academic Integrity Center for more information.
Strayer University Writing Standards
1Strayer University Writing Standards
https://pslogin.strayer.edu/?dest=academic-support/academic-
integrity-center
� If your assignment requires a title page, include the
assignment title, your
name, course title, your professor’s name, and the date of
submission on a
separate page.
� If your assignment does not require a title page, include the
assignment title,
your name, course title, your professor’s name, and the date of
submission in
the header of your document.
� Include page numbers.
� Use 1-inch margins.
� Use Arial, Courier, Times New Roman, or Calibri font style.
� Use 10, 11, or 12 point font size for the body of your text.
� Use either single or double spacing, according to assignment
guidelines.
� See assignment guidelines for instructions to format
tables/charts/graphs/

images.
� Use appropriate language and be concise.
� Write in active voice when possible. Find tips here.
� Use the point of view (first, second, or third person) required
by the
assignment guidelines.
� Use spelling and grammar check and proofread to help
ensure your work is
error free.
� Use credible sources to support your ideas/work. Find tips
here.
� Cite your sources throughout your work when you borrow
someone else’s
words or ideas. Give credit to the authors.
� Add each cited source to the source list at the end of your
assignment so that
your reader can find and reference the original material. (See
In-Text Citations
section for more details.)
� Don’t forget to cite and add your textbook to the source list
if you use it as a
source.
� Include a source list when the assignment requires research
or if you cite the

textbook.
� Type “Sources” centered on the first line of the page.
� List the sources that you used in your assignment.
� Organize sources in a numbered list and in order of use
throughout the paper.
Use the original number when citing a source multiple times.
Writing Assignments
Title Your Work
Use Appropriate
Formatting
Write Clearly
Cite Credible Sources
Build a Source List
Strayer University Writing Standards 2
https://owl.english.purdue.edu/owl/resource/539/01/
http://libdatab.strayer.edu/login?url=http://search.ebscohost.co
m/login.aspx?direct=true&db=ers&AN=98402046&site=eds-
live&scope=site
Giving Credit to Authors and Sources
When quoting or paraphrasing another source in your writing,
you need to give credit by
using an in-text citation. An in-text citation includes the
author’s last name and the number of

the source from the source list. Find tips here.
Option #1: Paraphrasing
Rewording Source Information in Your Own Words
· Take the source information and rephrase it in your
words. Be sure not to repeat the same words of the
author.
· Add a number to the end of your source (which will tie to
your source list).
· Remember, you cannot just replace the words of the
original sentence.
ORIGINAL SOURCE
“Writing at a college level requires informed
research.”
PARAPHRASING
As Harvey wrote, when writing a paper for
higher education, it is critical to research and
cite sources (1).
When writing a paper for higher education,
it is imperative to research and cite sources
(Harvey, 1).
Option #2: Quoting
Citing another person’s work word for word
· Place quotation marks at the beginning and the end of
the quoted information.

· Add a number to the end of your quote (which matches
your source list).
· Do not quote more than one to two sentences
(approximately 25 words) at a time.
· Do not start a sentence with a quotation.
· Introduce and explain quotes within the context of your
paper.
ORIGINAL SOURCE
“Writing at a college level requires informed
research.”
QUOTING
Harvey wrote in his book, “Writing at a college
level requires informed research” (1).
Many authors agree, “Writing at a college
level requires informed research” (Harvey, 1).
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m/login.aspx?direct=true&db=ers&AN=98402046&site=eds-
live&scope=site
Source List
The source list (which includes the sources that you used in
your assignment) is a new page

that you will add at the end of your paper. The list has two
purposes: it gives credit to the
authors that you use and gives your readers enough information
to find the source without
your help. Build your source list as you write.
· Type “Sources” at the top of a new page.
· Include a numbered list of the sources you used in your paper.
(the numbers
indicate the order in which you used them). A well-researched
assignment has
at least as many sources as pages.
1. Use the number one (1) for the first source used in the paper,
the number
two (2) for the second source, and so on.
2. Use the same number for a source if you use it multiple
times.
· Ensure each source includes four parts: author or
organization, publication
date, title, and how to find it. If you have trouble finding these
details, then re-
evaluate the credibility of your source.
· Use the browser link for a public webpage.
· Look for a permalink tool for a webpage, which requires
logging in, such as the
Strayer Library.
· Write a comment instructing your readers how to find all

sources that do not
have a browser link or a permalink.
Source List Elements
AUTHOR PUBLICATION DATE TITLE HOW TO FIND
Michael Harvey
In the case of multiple
authors, only list the first.
2013
This is not the same as
copyright date, which is
denoted by ©
The Nuts &
Bolts of College
Writing
http://libdatab.strayer.edu/login?url=http://
search.ebscohost.com/login.aspx?direct
=true&db=nlebk&AN=590706&site=eds-
live&scope=site
1. Michael Harvey, 2013, The Nuts & Bolts of College Writing,
http://libdatab.strayer.edu/login?url=http://search.
ebscohost.com/login.aspx?direct=true&db=nlebk&AN=590706&
site=eds-live&scope=site
Setting Up the Page
Building a Source List

1. Michael Harvey, 2013, The Nuts & Bolts of College Writing,
http://libdatab.strayer.edu/login?url=http://search.
ebscohost.com/login.aspx?direct=true&db=nlebk&AN=590706&
site=eds-live&scope=site
2. William R. Stanek, 2010, Storyboarding Techniques chapter
in Effective Writing for Business, College and Life, http://
libdatab.strayer.edu/login?url=http://search.ebscohost.com/login
.aspx?direct=true&db=nlebk&AN=359141&site=e
ds-live&scope=site&ebv=EB&ppid=pp_23
3. Zyad Hicham, 2017, Vocabulary Growth in College-Level
Students’ Narrative Writing, http://libdatab.strayer.edu/
login?url=http://search.ebscohost.com/login.aspx?direct=true&d
b=edsdoj&AN=edsdoj.9b7fad40e529462bafe3a936
aaf81420&site=eds-live&scope=site
4. Anya Kamenetz, July 10, 2015, The Writing Assignment That
Changes Lives, https://www.npr.org/sections/
ed/2015/07/10/419202925/the-writing-assignment-that-changes-
lives
5. Brad Thor, June 14, 2016, The Best Writing Advice I Ever
Got, http://time.com/4363050/brad-thor-best-writing-advice/
6. Karen Hertzberg, June 15, 2017, How to Improve Writing
Skills in 15 Easy Steps, https://www.grammarly.com/blog/
how-to-improve-writing-skills/
7. Roy Peter Clark, 2008, Writing Tools: 55 Essential Strategies
for Every Writer

8. C.M. Gill, 2014, The Psychology of Grading and Scoring,
Essential Writing Skills for College & Beyond
9. ABC Company’s Policy & Procedures Committee, Employee
Dress and Attendance Policy, this is a policy in my office
10. Henry M. Sayre, 2014, The Humanities: Culture, Continuity
and Change Vol 1, this is the HUM111 textbook
Final Report
Title
By Your Name
ECO100
Professor’s Name
Date
1. Introduction
(In this section, provide a one-paragraph brief introduction
about your selected industry. Please delete all instructions and
use double-spacing before submitting your paper.)
2. Size and/or Growth of Industry

Write at least one paragraph assessing the size and/or growth
rate of the industry relative to the national economy.
If you click on the GDP by industry, you should be able to
assess the numbers related to the size and/or growth rate of the
industry relative
You may also click on the percentage change in GDP by
industry (especially the value added by industry) for additional
inputs to this question.
· You should use the statistics to determine the weight of the
industry relative to the GDP.
· You may also use the revenues, number of employees, and/or
number of customers to substantiate your idea.
· Do not use bulleted or numbered lists.
· Write clearly and professionally; follow the Strayer Writing
Standards.
3. Macroeconomic Indicator or Policy and Its Importance and
Impact
Write at least one paragraph identifying the macroeconomic
indicator or policy that the industry should monitor (inflation,
unemployment, imports and exports, government expenditure,
taxes, and/or interest rates). Explain why the macroeconomic
indicator or policy is important and how it may impact the
industry.
· Consider its importance and impact by looking at one or more
of the indicators below:
1. The operational costs supported by the industry as compared
to the revenues.
2. The trends observed in terms of profits and/or number of
employees to substantiate your idea.
Standards.
4. Recent Trend
Write one paragraph describing a recent trend in the
macroeconomic indicator or policy in part 3. Include a graph,
table, or chart that illustrates the observed trend.

· Focus on the stability or increase/decrease of the chosen
indicator when commenting on the graph, be certain to follow
your graph or table with substantiated comments, explaining
any major discrepancy in the data or the change in the shape of
the curve.
Standards.
5. Conclusion
Write a one-paragraph conclusion that summarizes how you
think the industry will perform in the future. Attention should
be paid to whether the observed trend is expected to continue.
· This should be your (own) opinion.
· Explain what you learned about the topic. Attention should be
paid to whether the observed trend is expected to continue.
· You may also expand upon this point by explaining what
conclusion you draw from your research on the topic.
Standards.
Sources
1. List in order of use.
2. List a second source here.
3. Repeat for additional sources.
2

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(Learning Outcome 2): Gray Company collects $5,000 from one
of it's customers that was due
from the previous month. How will this affect the accounting
equation?
(Learning Outcome 1) Simon and Son's has Accounts
Receivable of $35,000, owes on account to
Johnson Company $16,500 and has furniture totaling $12,250.
They have $90,000 in cash on
hand and the business has a $36,750 Note Payable. How much
is Simon and Son's Owner's
Equity? Use the accounting equation to solve this problem.
Assets increase by $5,000; Equity increases by $5,000.
Assets increase by $5,000; Assets decrease by $5,000 .
Assets increase by $5,000; Liabilities decrease by $5,000
.
Assets decrease by $5,000; Equity decreases by $5,000.
$84,000
$117,000
$10,500

Some other amount
11/27/2019 : Quiz Submissions - Pretest ORGL 225 - Fall 2019
- Record Keeping for Leaders (ORGL-225-1CW) - Texas A&M
- Commerce
2/7
(Learning Outcome 1): Which of the following accounts would
not be considered a revenue
account?
(Learning Outcome 2): Patterson Co. bought a new delivery
truck on account for $19,650 from
Pete's Auto Plex. What account would you credit in this
transaction?
(Learning Outcome 5): Which of the following is a
characteristic of a corporation?
(Learning Outcome 3) Which of the following inventory
systems require a physical count of
inventory at the end of an accounting period?
Ticket Revenue
Fees Earned

Unearned Revenue
Sales
Cash
Patterson Co., Equity
Accounts Payable-Pete's Auto Plex
Delivery Truck
Stockholders own corporations
Lenders to a corporation do not have the authority or right to
claim the corporation's
assets to satisfy their obligations.
A stockholder has the authority or "mutual agency" to enter into
a binding contract for
the corporation solely by his or her actions.
Only one individual must hold all shares of stock in a
corporation
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(Learning Outcome 3) How is Cost of Goods Sold calculated
under the periodic inventory
method?

(Learning Outcome 4) A company received a bank statement
with a balance of $6,350.
Reconciling items included a bookkeeper error of $300 (a $300
check recorded as $600) two
outstanding checks totaling $820, a service charge of $25, a
deposit in transit of $280, and
interest revenue of $21. What is the adjusted bank balance?
(You must show your calculations to
receive full credit for this question).
Perpetual
None
Periodic
Both
Goods Available for Sale + Ending Inventory
Purchases + Transportation In -Purchases Returns and
Allowances - Purchases Discount
Beginning Inventory + Purchases - Ending Inventory
Beginning Inventory + Net Purchases - Ending Inventory
$6350 ending balance
-$300 check (check reported as $600)
-$820 outstanding checks
-$25 service charge

+$280 deposit
-$25 service charge
+$21 interest revenue
New balance = $5,506
4/7
questions.
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(Learning Outcome 4) Ella B's signs a $12,000, 6 month note at
6% interest. How much is Notes
Payable?
questions.
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(Learning Outcome 5) Which of the following statements are
true of a corporation.

(Learning Outcome 6) On January 1, 2017, Cooper Sales issued
$15,000 in bonds for $14,700.
They were six-year bonds with a stated rate of 9% and they pay
semi-annual interest. Cooper
Sales uses the straight-line method to amortize the bond
discount amount. On June 30, 2017,
when Cooper Sales makes the first payment to bondholders, how
much will the company report
as interest expense?
$2,120 a month.
A corporation has a limited life.
A corporation pays income taxes on it's business earnings.
All types and classes of a corporation's stocks carry the same
degree of risk for the
shareholder.
The shareholder's of corporation have unlimited liabilities for
all the corporation's debts.
$675
$825
$25
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(Learning Outcome 6) On March 1, 2017, Winston Inc. issued a
5% long-term note payable for
$15,000. It is a 3 year note with $5000. annual payments due on
March 1st each year plus
interest, beginning March 1, 2018. How will a balance sheet on
December 31, 2017 show this
information?
(Learning Outcome 8) Simpson Inc. provides the following
data;
2017 2016
Revenue $10,000. $8,000.
Cost of Goods Sold $4,500. $3,000.
Prepare a horizontal analysis of Revenues and Cost of Goods
Sold in dollar amounts and in
percentages for 2017. You MUST show your calculations to
receive full credit for this problem.
- No text entered -
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(Learning Outcome 8) Richardson Service Inc. reported a Net
Income for the year of 25,750.

Richardson Service's beginning and ending total assets were
$87,560 and $93,570 respectively.
A) Calculate Richardson Service's return on assets (ROA)
Round your answer to the nearest
percentage.
B) What does Return on Assets measure for a company?
$700
$5,000 as a current liability and $10,000 as a long-term
liability.
$5,000 as a current liability and $15,000 as a long-term
liability.
$15,000 as a current liability.
$15,000 as a long-term liability.
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You must answer both A) and B) correctly and show your
calculations for A) to receive full credit
for this question.
- No text entered -
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(Learning Outcome 7) What are the three classifications (or
categories) on a cash flow
statement?
- No text entered -
questions.
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(Learning Outcome 7) The following transactions occurred for
Gracy Inc. at the end of the year:
a) Net Income for the year was $55,000. Depreciation Expense
was $17,000.
b) Cash dividends were paid this year. Beginning retained
earnings was $180,000 and ending
Retained Earnings was $230,000.
Considering both transactions, what amount will be reported for
cash paid for dividends on the
financing section of the statement of cash flows?
(Learning Outcome 9) Which of the following budgets focuses
on the income statement and its
supporting schedules?

$5,000.
$72,000
$8,200.
$174,000
capital-expenditures budget
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7/7
Which of the following regarding the Statement of Financial
Position for a non-profit is true?
In a non-profit organization, the amount of total assets minus
total liabilities is actually reported
as ________________ in its Statement of Financial Position.
cash budget
sales budget
operating budget
It is similar to an Income Statement of a for-profit entity.
It must be prepared before a trial balance

It is similar to a Balance Sheet of a for-profit entity.
It includes expenses by functional category
Stockholder's Equity
Owner's Equity
Net Assets
Expenses

112Quiz Submissios - Posttest #1Question 1 1 6 poin.docx

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