This document contains multiple choice questions related to accounting topics such as the balance sheet, income statement, statement of cash flows, and financial statement analysis. Specifically:
- Questions ask about items that make up stockholders' equity and assets on the balance sheet, how revenues and expenses are reported on the income statement, and activities that are classified as operating, investing and financing on the statement of cash flows.
- Additional questions cover calculation of financial ratios like earnings per share, return on equity, profit margin and cash ratio that are used to analyze the financial performance and position of a company.
- The document tests understanding of key accounting concepts like the matching principle, revenue recognition, and treatment of various business transactions.
1) AccountingA. processes data into reports and communicates t.docxoswald1horne84988
1) Accounting:
A. processes data into reports and communicates the data to decision makers.
B. is often called the language of business.
C. measures business activities.
D. is all of the above.
2) Assets include cash, land, and accounts payable.
True
False
3) A prepaid expense is an asset.
True
False
4) The primary objective of financial reporting is to provide information
A. on the cash flows of the company.
B. to the federal government.
C. useful for making investment and credit decisions.
D. about the profitability of the enterprise.
5) Each transaction has either an equal effect on both the left - and right- sides of the accounting equation, or an offsetting effect (both positive and negative) on the same side of the equation.
True
False
6) During February, assets increased by $ 87,000 and liabilities increased by $ 31,000. Stockholders' equity must have
A. increased by $ 56,000.
B. decreased by $ 56,000.
C. increased by $ 118,000.
D. decreased by $ 118,000
7) Thompson Instruments had retained earnings of $ 340,000 at December 31, 2015.
Net income for 2016 totaled $ 185,000, and dividends for 2016 were $ 85,000.
How much retained earnings should Thompson report at December 31, 2016?
A. $ 425,000
B. $ 340,000
C. $ 525,000
D. $ 440,000
8) Purchasing a laptop computer on account will
A. increase total assets.
B. have no effect on stockholders' equity.
C. increase total liabilities.
D. All of the listed choices are correct.
9) Performing a service on account will
A. increase total assets.
B. increase stockholders' equity.
C. increase total liabilities.
D. accomplish both a and b.
10) Receiving cash from a customer on account will
A. decrease liabilities.
B. have no effect on total assets.
C. increase stockholders' equity.
D. increase total assets.
11) Which of the following is not an asset account?
A. Salary Expense
B. Common Stock
C. Service Revenue
D. None of the listed accounts is an asset.
12) The journal entry to record the purchase of supplies on account
A. debits Supplies Expense and credits Supplies.
B. credits Supplies and debits Cash.
C. credits Supplies and debits Accounts Payable.
D. debits Supplies and credits Accounts Payable.
13) On January 1 of the current year, Bambi Company paid $ 1,500 in rent to cover six months
(January long dash June). Bambi recorded this transaction as follows:
Journal Entry
Date
Accounts
Debit
Credit
Jan
1
Prepaid Rent
1,500
Cash
1,500
Bambi adjusts the accounts at the end of each month. Based on these facts, the adjusting entry at the end of January should include
A. a debit to Prepaid Rent for $ 1,250.
B. a credit to Prepaid Rent for $ 250.
C. a debit to Prepaid Rent for $ 250.
D. a credit to Prepaid Rent for $ 1,250.
14) On January 1 of the current year, Bamber Company paid $ 1,500 in rent to cover six months (January - June). Bamber recorded this transaction as follows:
Journal Entry
Date
Accounts
Debit
Credit
Jan
1
Prepaid Rent
1,500
Cash
1,5.
ACC 300 Final Exam Answers
1) Which of the following statements is true?
only when operating conditions change significantly.
B. An unqualified independent auditor’s report must be included in the annual report.
because that information is only for internal users.
shareholders even when financial results are positive.
2) Notes to the financial statements include which of the following:
A. An independent auditors report.
B. Explanations of uncertainties.
C. Short-form Income Statement
D. Subsidiary ledger for Accounts Receivable
3) Which of the following financial statements is divided into major categories of
operating, investing, and financing activities?
A. The income statement.
B. The balance sheet.
C. The retained earnings statement.
D. The statement of cash flows.
4) If the retained earnings account increases from the beginning of the year to the
end of the year, then
A. net income is less than dividends.
B. a net loss is less than dividend
ACC 300 Final Exam Answers
1) Which of the following statements is true?
only when operating conditions change significantly.
B. An unqualified independent auditor’s report must be included in the annual report.
because that information is only for internal users.
shareholders even when financial results are positive.
2) Notes to the financial statements include which of the following:
A. An independent auditors report.
B. Explanations of uncertainties.
C. Short-form Income Statement
D. Subsidiary ledger for Accounts Receivable
3) Which of the following financial statements is divided into major categories of
operating, investing, and financing activities?
A. The income statement.
B. The balance sheet.
C. The retained earnings statement.
D. The statement of cash flows.
4) If the retained earnings account increases from the beginning of the year to the
end of the year, then
A. net income is less than dividends.
B. a net loss is less than dividend
ACC 300 Final Exam answers 2015 versionbrewgabrielse
ACC 300 Final Exam Answers
1) Which of the following statements is true?
only when operating conditions change significantly.
B. An unqualified independent auditor’s report must be included in the annual report.
because that information is only for internal users.
shareholders even when financial results are positive.
2) Notes to the financial statements include which of the following:
A. An independent auditors report.
B. Explanations of uncertainties.
C. Short-form Income Statement
D. Subsidiary ledger for Accounts Receivable
3) Which of the following financial statements is divided into major categories of
operating, investing, and financing activities?
A. The income statement.
B. The balance sheet.
C. The retained earnings statement.
D. The statement of cash flows.
4) If the retained earnings account increases from the beginning of the year to the
end of the year, then
A. net income is less than dividends.
B. a net loss is less than dividend
ACC 300 Final Exam Answers
1) Which of the following statements is true?
only when operating conditions change significantly.
B. An unqualified independent auditor’s report must be included in the annual report.
because that information is only for internal users.
shareholders even when financial results are positive.
2) Notes to the financial statements include which of the following:
A. An independent auditors report.
B. Explanations of uncertainties.
C. Short-form Income Statement
D. Subsidiary ledger for Accounts Receivable
3) Which of the following financial statements is divided into major categories of
operating, investing, and financing activities?
A. The income statement.
B. The balance sheet.
C. The retained earnings statement.
D. The statement of cash flows.
4) If the retained earnings account increases from the beginning of the year to the
end of the year, then
A. net income is less than dividends.
B. a net loss is less than dividend
ACC 300 Final Exam Answers
1) Which of the following statements is true?
only when operating conditions change significantly.
B. An unqualified independent auditor’s report must be included in the annual report.
because that information is only for internal users.
shareholders even when financial results are positive.
2) Notes to the financial statements include which of the following:
A. An independent auditors report.
B. Explanations of uncertainties.
C. Short-form Income Statement
D. Subsidiary ledger for Accounts Receivable
3) Which of the following financial statements is divided into major categories of
operating, investing, and financing activities?
A. The income statement.
B. The balance sheet.
C. The retained earnings statement.
D. The statement of cash flows.
4) If the retained earnings account increases from the beginning of the year to the
end of the year, then
A. net income is less than dividends.
B. a net loss is less than dividend
ACC 300 Final Exam Answers
1) Which of the following statements is true?
only when operating conditions change significantly.
B. An unqualified independent auditor’s report must be included in the annual report.
because that information is only for internal users.
shareholders even when financial results are positive.
2) Notes to the financial statements include which of the following:
A. An independent auditors report.
B. Explanations of uncertainties.
C. Short-form Income Statement
D. Subsidiary ledger for Accounts Receivable
3) Which of the following financial statements is divided into major categories of
operating, investing, and financing activities?
A. The income statement.
B. The balance sheet.
C. The retained earnings statement.
D. The statement of cash flows.
4) If the retained earnings account increases from the beginning of the year to the
end of the year, then
A. net income is less than dividends.
B. a net loss is less than dividend
ACC 300 Final Exam answers 2015 versionbrewgabrielse
ACC 300 Final Exam Answers
1) Which of the following statements is true?
only when operating conditions change significantly.
B. An unqualified independent auditor’s report must be included in the annual report.
because that information is only for internal users.
shareholders even when financial results are positive.
2) Notes to the financial statements include which of the following:
A. An independent auditors report.
B. Explanations of uncertainties.
C. Short-form Income Statement
D. Subsidiary ledger for Accounts Receivable
3) Which of the following financial statements is divided into major categories of
operating, investing, and financing activities?
A. The income statement.
B. The balance sheet.
C. The retained earnings statement.
D. The statement of cash flows.
4) If the retained earnings account increases from the beginning of the year to the
end of the year, then
A. net income is less than dividends.
B. a net loss is less than dividend
1) AccountingA. processes data into reports and communicates t.docxoswald1horne84988
1) Accounting:
A. processes data into reports and communicates the data to decision makers.
B. is often called the language of business.
C. measures business activities.
D. is all of the above.
2) Assets include cash, land, and accounts payable.
True
False
3) A prepaid expense is an asset.
True
False
4) The primary objective of financial reporting is to provide information
A. on the cash flows of the company.
B. to the federal government.
C. useful for making investment and credit decisions.
D. about the profitability of the enterprise.
5) Each transaction has either an equal effect on both the left - and right- sides of the accounting equation, or an offsetting effect (both positive and negative) on the same side of the equation.
True
False
6) During February, assets increased by $ 87,000 and liabilities increased by $ 31,000. Stockholders' equity must have
A. increased by $ 56,000.
B. decreased by $ 56,000.
C. increased by $ 118,000.
D. decreased by $ 118,000
7) Thompson Instruments had retained earnings of $ 340,000 at December 31, 2015.
Net income for 2016 totaled $ 185,000, and dividends for 2016 were $ 85,000.
How much retained earnings should Thompson report at December 31, 2016?
A. $ 425,000
B. $ 340,000
C. $ 525,000
D. $ 440,000
8) Purchasing a laptop computer on account will
A. increase total assets.
B. have no effect on stockholders' equity.
C. increase total liabilities.
D. All of the listed choices are correct.
9) Performing a service on account will
A. increase total assets.
B. increase stockholders' equity.
C. increase total liabilities.
D. accomplish both a and b.
10) Receiving cash from a customer on account will
A. decrease liabilities.
B. have no effect on total assets.
C. increase stockholders' equity.
D. increase total assets.
11) Which of the following is not an asset account?
A. Salary Expense
B. Common Stock
C. Service Revenue
D. None of the listed accounts is an asset.
12) The journal entry to record the purchase of supplies on account
A. debits Supplies Expense and credits Supplies.
B. credits Supplies and debits Cash.
C. credits Supplies and debits Accounts Payable.
D. debits Supplies and credits Accounts Payable.
13) On January 1 of the current year, Bambi Company paid $ 1,500 in rent to cover six months
(January long dash June). Bambi recorded this transaction as follows:
Journal Entry
Date
Accounts
Debit
Credit
Jan
1
Prepaid Rent
1,500
Cash
1,500
Bambi adjusts the accounts at the end of each month. Based on these facts, the adjusting entry at the end of January should include
A. a debit to Prepaid Rent for $ 1,250.
B. a credit to Prepaid Rent for $ 250.
C. a debit to Prepaid Rent for $ 250.
D. a credit to Prepaid Rent for $ 1,250.
14) On January 1 of the current year, Bamber Company paid $ 1,500 in rent to cover six months (January - June). Bamber recorded this transaction as follows:
Journal Entry
Date
Accounts
Debit
Credit
Jan
1
Prepaid Rent
1,500
Cash
1,5.
ACC 300 Final Exam Answers
1) Which of the following statements is true?
only when operating conditions change significantly.
B. An unqualified independent auditor’s report must be included in the annual report.
because that information is only for internal users.
shareholders even when financial results are positive.
2) Notes to the financial statements include which of the following:
A. An independent auditors report.
B. Explanations of uncertainties.
C. Short-form Income Statement
D. Subsidiary ledger for Accounts Receivable
3) Which of the following financial statements is divided into major categories of
operating, investing, and financing activities?
A. The income statement.
B. The balance sheet.
C. The retained earnings statement.
D. The statement of cash flows.
4) If the retained earnings account increases from the beginning of the year to the
end of the year, then
A. net income is less than dividends.
B. a net loss is less than dividend
ACC 300 Final Exam Answers
1) Which of the following statements is true?
only when operating conditions change significantly.
B. An unqualified independent auditor’s report must be included in the annual report.
because that information is only for internal users.
shareholders even when financial results are positive.
2) Notes to the financial statements include which of the following:
A. An independent auditors report.
B. Explanations of uncertainties.
C. Short-form Income Statement
D. Subsidiary ledger for Accounts Receivable
3) Which of the following financial statements is divided into major categories of
operating, investing, and financing activities?
A. The income statement.
B. The balance sheet.
C. The retained earnings statement.
D. The statement of cash flows.
4) If the retained earnings account increases from the beginning of the year to the
end of the year, then
A. net income is less than dividends.
B. a net loss is less than dividend
ACC 300 Final Exam answers 2015 versionbrewgabrielse
ACC 300 Final Exam Answers
1) Which of the following statements is true?
only when operating conditions change significantly.
B. An unqualified independent auditor’s report must be included in the annual report.
because that information is only for internal users.
shareholders even when financial results are positive.
2) Notes to the financial statements include which of the following:
A. An independent auditors report.
B. Explanations of uncertainties.
C. Short-form Income Statement
D. Subsidiary ledger for Accounts Receivable
3) Which of the following financial statements is divided into major categories of
operating, investing, and financing activities?
A. The income statement.
B. The balance sheet.
C. The retained earnings statement.
D. The statement of cash flows.
4) If the retained earnings account increases from the beginning of the year to the
end of the year, then
A. net income is less than dividends.
B. a net loss is less than dividend
ACC 300 Final Exam Answers
1) Which of the following statements is true?
only when operating conditions change significantly.
B. An unqualified independent auditor’s report must be included in the annual report.
because that information is only for internal users.
shareholders even when financial results are positive.
2) Notes to the financial statements include which of the following:
A. An independent auditors report.
B. Explanations of uncertainties.
C. Short-form Income Statement
D. Subsidiary ledger for Accounts Receivable
3) Which of the following financial statements is divided into major categories of
operating, investing, and financing activities?
A. The income statement.
B. The balance sheet.
C. The retained earnings statement.
D. The statement of cash flows.
4) If the retained earnings account increases from the beginning of the year to the
end of the year, then
A. net income is less than dividends.
B. a net loss is less than dividend
ACC 300 Final Exam Answers
1) Which of the following statements is true?
only when operating conditions change significantly.
B. An unqualified independent auditor’s report must be included in the annual report.
because that information is only for internal users.
shareholders even when financial results are positive.
2) Notes to the financial statements include which of the following:
A. An independent auditors report.
B. Explanations of uncertainties.
C. Short-form Income Statement
D. Subsidiary ledger for Accounts Receivable
3) Which of the following financial statements is divided into major categories of
operating, investing, and financing activities?
A. The income statement.
B. The balance sheet.
C. The retained earnings statement.
D. The statement of cash flows.
4) If the retained earnings account increases from the beginning of the year to the
end of the year, then
A. net income is less than dividends.
B. a net loss is less than dividend
ACC 300 Final Exam Answers
1) Which of the following statements is true?
only when operating conditions change significantly.
B. An unqualified independent auditor’s report must be included in the annual report.
because that information is only for internal users.
shareholders even when financial results are positive.
2) Notes to the financial statements include which of the following:
A. An independent auditors report.
B. Explanations of uncertainties.
C. Short-form Income Statement
D. Subsidiary ledger for Accounts Receivable
3) Which of the following financial statements is divided into major categories of
operating, investing, and financing activities?
A. The income statement.
B. The balance sheet.
C. The retained earnings statement.
D. The statement of cash flows.
4) If the retained earnings account increases from the beginning of the year to the
end of the year, then
A. net income is less than dividends.
B. a net loss is less than dividend
ACC 300 Final Exam answers 2015 versionbrewgabrielse
ACC 300 Final Exam Answers
1) Which of the following statements is true?
only when operating conditions change significantly.
B. An unqualified independent auditor’s report must be included in the annual report.
because that information is only for internal users.
shareholders even when financial results are positive.
2) Notes to the financial statements include which of the following:
A. An independent auditors report.
B. Explanations of uncertainties.
C. Short-form Income Statement
D. Subsidiary ledger for Accounts Receivable
3) Which of the following financial statements is divided into major categories of
operating, investing, and financing activities?
A. The income statement.
B. The balance sheet.
C. The retained earnings statement.
D. The statement of cash flows.
4) If the retained earnings account increases from the beginning of the year to the
end of the year, then
A. net income is less than dividends.
B. a net loss is less than dividend
ACC 300 Final Exam answers 2015 versionbrewgabrielse
ACC 300 Final Exam Answers
1) Which of the following statements is true?
only when operating conditions change significantly.
B. An unqualified independent auditor’s report must be included in the annual report.
because that information is only for internal users.
shareholders even when financial results are positive.
2) Notes to the financial statements include which of the following:
A. An independent auditors report.
B. Explanations of uncertainties.
C. Short-form Income Statement
D. Subsidiary ledger for Accounts Receivable
3) Which of the following financial statements is divided into major categories of
operating, investing, and financing activities?
A. The income statement.
B. The balance sheet.
C. The retained earnings statement.
D. The statement of cash flows.
4) If the retained earnings account increases from the beginning of the year to the
end of the year, then
A. net income is less than dividends.
B. a net loss is less than dividend
ACC 300 Final Exam answers 2015 versionbrewgabrielse
ACC 300 Final Exam Answers
1) Which of the following statements is true?
only when operating conditions change significantly.
B. An unqualified independent auditor’s report must be included in the annual report.
because that information is only for internal users.
shareholders even when financial results are positive.
2) Notes to the financial statements include which of the following:
A. An independent auditors report.
B. Explanations of uncertainties.
C. Short-form Income Statement
D. Subsidiary ledger for Accounts Receivable
3) Which of the following financial statements is divided into major categories of
operating, investing, and financing activities?
A. The income statement.
B. The balance sheet.
C. The retained earnings statement.
D. The statement of cash flows.
4) If the retained earnings account increases from the beginning of the year to the
end of the year, then
A. net income is less than dividends.
B. a net loss is less than dividend
ACC 300 Final Exam Answers
1) Which of the following statements is true?
only when operating conditions change significantly.
B. An unqualified independent auditor’s report must be included in the annual report.
because that information is only for internal users.
shareholders even when financial results are positive.
2) Notes to the financial statements include which of the following:
A. An independent auditors report.
B. Explanations of uncertainties.
C. Short-form Income Statement
D. Subsidiary ledger for Accounts Receivable
3) Which of the following financial statements is divided into major categories of
operating, investing, and financing activities?
A. The income statement.
B. The balance sheet.
C. The retained earnings statement.
D. The statement of cash flows.
4) If the retained earnings account increases from the beginning of the year to the
end of the year, then
A. net income is less than dividends.
B. a net loss is less than dividend
ACC 300 Final Exam Answers
1) Which of the following statements is true?
only when operating conditions change significantly.
B. An unqualified independent auditor’s report must be included in the annual report.
because that information is only for internal users.
shareholders even when financial results are positive.
2) Notes to the financial statements include which of the following:
A. An independent auditors report.
B. Explanations of uncertainties.
C. Short-form Income Statement
D. Subsidiary ledger for Accounts Receivable
3) Which of the following financial statements is divided into major categories of
operating, investing, and financing activities?
A. The income statement.
B. The balance sheet.
C. The retained earnings statement.
D. The statement of cash flows.
4) If the retained earnings account increases from the beginning of the year to the
end of the year, then
A. net income is less than dividends.
B. a net loss is less than dividend
ACC 300 Final Exam Answers
1) Which of the following statements is true?
only when operating conditions change significantly.
B. An unqualified independent auditor’s report must be included in the annual report.
because that information is only for internal users.
shareholders even when financial results are positive.
2) Notes to the financial statements include which of the following:
A. An independent auditors report.
B. Explanations of uncertainties.
C. Short-form Income Statement
D. Subsidiary ledger for Accounts Receivable
3) Which of the following financial statements is divided into major categories of
operating, investing, and financing activities?
A. The income statement.
B. The balance sheet.
C. The retained earnings statement.
D. The statement of cash flows.
4) If the retained earnings account increases from the beginning of the year to the
end of the year, then
A. net income is less than dividends.
B. a net loss is less than dividend
ACC 300 Final Exam Answers
1) Which of the following statements is true?
only when operating conditions change significantly.
B. An unqualified independent auditor’s report must be included in the annual report.
because that information is only for internal users.
shareholders even when financial results are positive.
2) Notes to the financial statements include which of the following:
A. An independent auditors report.
B. Explanations of uncertainties.
C. Short-form Income Statement
D. Subsidiary ledger for Accounts Receivable
3) Which of the following financial statements is divided into major categories of
operating, investing, and financing activities?
A. The income statement.
B. The balance sheet.
C. The retained earnings statement.
D. The statement of cash flows.
4) If the retained earnings account increases from the beginning of the year to the
end of the year, then
A. net income is less than dividends.
B. a net loss is less than dividend
ACC 300 Final Exam Answers
1) Which of the following statements is true?
only when operating conditions change significantly.
B. An unqualified independent auditor’s report must be included in the annual report.
because that information is only for internal users.
shareholders even when financial results are positive.
2) Notes to the financial statements include which of the following:
A. An independent auditors report.
B. Explanations of uncertainties.
C. Short-form Income Statement
D. Subsidiary ledger for Accounts Receivable
3) Which of the following financial statements is divided into major categories of
operating, investing, and financing activities?
A. The income statement.
B. The balance sheet.
C. The retained earnings statement.
D. The statement of cash flows.
4) If the retained earnings account increases from the beginning of the year to the
end of the year, then
A. net income is less than dividends.
B. a net loss is less than dividend
ACC 300 Final Exam Answers
1) Which of the following statements is true?
only when operating conditions change significantly.
B. An unqualified independent auditor’s report must be included in the annual report.
because that information is only for internal users.
shareholders even when financial results are positive.
2) Notes to the financial statements include which of the following:
A. An independent auditors report.
B. Explanations of uncertainties.
C. Short-form Income Statement
D. Subsidiary ledger for Accounts Receivable
3) Which of the following financial statements is divided into major categories of
operating, investing, and financing activities?
A. The income statement.
B. The balance sheet.
C. The retained earnings statement.
D. The statement of cash flows.
4) If the retained earnings account increases from the beginning of the year to the
end of the year, then
A. net income is less than dividends.
B. a net loss is less than dividend
ACC 300 Final Exam Answers
1) Which of the following statements is true?
only when operating conditions change significantly.
B. An unqualified independent auditor’s report must be included in the annual report.
because that information is only for internal users.
shareholders even when financial results are positive.
2) Notes to the financial statements include which of the following:
A. An independent auditors report.
B. Explanations of uncertainties.
C. Short-form Income Statement
D. Subsidiary ledger for Accounts Receivable
3) Which of the following financial statements is divided into major categories of
operating, investing, and financing activities?
A. The income statement.
B. The balance sheet.
C. The retained earnings statement.
D. The statement of cash flows.
4) If the retained earnings account increases from the beginning of the year to the
end of the year, then
A. net income is less than dividends.
B. a net loss is less than dividend
how to sell pi coins effectively (from 50 - 100k pi)DOT TECH
Anywhere in the world, including Africa, America, and Europe, you can sell Pi Network Coins online and receive cash through online payment options.
Pi has not yet been launched on any exchange because we are currently using the confined Mainnet. The planned launch date for Pi is June 28, 2026.
Reselling to investors who want to hold until the mainnet launch in 2026 is currently the sole way to sell.
Consequently, right now. All you need to do is select the right pi network provider.
Who is a pi merchant?
An individual who buys coins from miners on the pi network and resells them to investors hoping to hang onto them until the mainnet is launched is known as a pi merchant.
debuts.
I'll provide you the Telegram username
@Pi_vendor_247
Currently pi network is not tradable on binance or any other exchange because we are still in the enclosed mainnet.
Right now the only way to sell pi coins is by trading with a verified merchant.
What is a pi merchant?
A pi merchant is someone verified by pi network team and allowed to barter pi coins for goods and services.
Since pi network is not doing any pre-sale The only way exchanges like binance/huobi or crypto whales can get pi is by buying from miners. And a merchant stands in between the exchanges and the miners.
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Tele-gram
@Pi_vendor_247
what is the future of Pi Network currency.DOT TECH
The future of the Pi cryptocurrency is uncertain, and its success will depend on several factors. Pi is a relatively new cryptocurrency that aims to be user-friendly and accessible to a wide audience. Here are a few key considerations for its future:
Message: @Pi_vendor_247 on telegram if u want to sell PI COINS.
1. Mainnet Launch: As of my last knowledge update in January 2022, Pi was still in the testnet phase. Its success will depend on a successful transition to a mainnet, where actual transactions can take place.
2. User Adoption: Pi's success will be closely tied to user adoption. The more users who join the network and actively participate, the stronger the ecosystem can become.
3. Utility and Use Cases: For a cryptocurrency to thrive, it must offer utility and practical use cases. The Pi team has talked about various applications, including peer-to-peer transactions, smart contracts, and more. The development and implementation of these features will be essential.
4. Regulatory Environment: The regulatory environment for cryptocurrencies is evolving globally. How Pi navigates and complies with regulations in various jurisdictions will significantly impact its future.
5. Technology Development: The Pi network must continue to develop and improve its technology, security, and scalability to compete with established cryptocurrencies.
6. Community Engagement: The Pi community plays a critical role in its future. Engaged users can help build trust and grow the network.
7. Monetization and Sustainability: The Pi team's monetization strategy, such as fees, partnerships, or other revenue sources, will affect its long-term sustainability.
It's essential to approach Pi or any new cryptocurrency with caution and conduct due diligence. Cryptocurrency investments involve risks, and potential rewards can be uncertain. The success and future of Pi will depend on the collective efforts of its team, community, and the broader cryptocurrency market dynamics. It's advisable to stay updated on Pi's development and follow any updates from the official Pi Network website or announcements from the team.
Exploring Abhay Bhutada’s Views After Poonawalla Fincorp’s Collaboration With...beulahfernandes8
The financial landscape in India has witnessed a significant development with the recent collaboration between Poonawalla Fincorp and IndusInd Bank.
The launch of the co-branded credit card, the IndusInd Bank Poonawalla Fincorp eLITE RuPay Platinum Credit Card, marks a major milestone for both entities.
This strategic move aims to redefine and elevate the banking experience for customers.
US Economic Outlook - Being Decided - M Capital Group August 2021.pdfpchutichetpong
The U.S. economy is continuing its impressive recovery from the COVID-19 pandemic and not slowing down despite re-occurring bumps. The U.S. savings rate reached its highest ever recorded level at 34% in April 2020 and Americans seem ready to spend. The sectors that had been hurt the most by the pandemic specifically reduced consumer spending, like retail, leisure, hospitality, and travel, are now experiencing massive growth in revenue and job openings.
Could this growth lead to a “Roaring Twenties”? As quickly as the U.S. economy contracted, experiencing a 9.1% drop in economic output relative to the business cycle in Q2 2020, the largest in recorded history, it has rebounded beyond expectations. This surprising growth seems to be fueled by the U.S. government’s aggressive fiscal and monetary policies, and an increase in consumer spending as mobility restrictions are lifted. Unemployment rates between June 2020 and June 2021 decreased by 5.2%, while the demand for labor is increasing, coupled with increasing wages to incentivize Americans to rejoin the labor force. Schools and businesses are expected to fully reopen soon. In parallel, vaccination rates across the country and the world continue to rise, with full vaccination rates of 50% and 14.8% respectively.
However, it is not completely smooth sailing from here. According to M Capital Group, the main risks that threaten the continued growth of the U.S. economy are inflation, unsettled trade relations, and another wave of Covid-19 mutations that could shut down the world again. Have we learned from the past year of COVID-19 and adapted our economy accordingly?
“In order for the U.S. economy to continue growing, whether there is another wave or not, the U.S. needs to focus on diversifying supply chains, supporting business investment, and maintaining consumer spending,” says Grace Feeley, a research analyst at M Capital Group.
While the economic indicators are positive, the risks are coming closer to manifesting and threatening such growth. The new variants spreading throughout the world, Delta, Lambda, and Gamma, are vaccine-resistant and muddy the predictions made about the economy and health of the country. These variants bring back the feeling of uncertainty that has wreaked havoc not only on the stock market but the mindset of people around the world. MCG provides unique insight on how to mitigate these risks to possibly ensure a bright economic future.
how can I sell pi coins after successfully completing KYCDOT TECH
Pi coins is not launched yet in any exchange 💱 this means it's not swappable, the current pi displaying on coin market cap is the iou version of pi. And you can learn all about that on my previous post.
RIGHT NOW THE ONLY WAY you can sell pi coins is through verified pi merchants. A pi merchant is someone who buys pi coins and resell them to exchanges and crypto whales. Looking forward to hold massive quantities of pi coins before the mainnet launch.
This is because pi network is not doing any pre-sale or ico offerings, the only way to get my coins is from buying from miners. So a merchant facilitates the transactions between the miners and these exchanges holding pi.
I and my friends has sold more than 6000 pi coins successfully with this method. I will be happy to share the contact of my personal pi merchant. The one i trade with, if you have your own merchant you can trade with them. For those who are new.
Message: @Pi_vendor_247 on telegram.
I wouldn't advise you selling all percentage of the pi coins. Leave at least a before so its a win win during open mainnet. Have a nice day pioneers ♥️
#kyc #mainnet #picoins #pi #sellpi #piwallet
#pinetwork
If you are looking for a pi coin investor. Then look no further because I have the right one he is a pi vendor (he buy and resell to whales in China). I met him on a crypto conference and ever since I and my friends have sold more than 10k pi coins to him And he bought all and still want more. I will drop his telegram handle below just send him a message.
@Pi_vendor_247
The secret way to sell pi coins effortlessly.DOT TECH
Well as we all know pi isn't launched yet. But you can still sell your pi coins effortlessly because some whales in China are interested in holding massive pi coins. And they are willing to pay good money for it. If you are interested in selling I will leave a contact for you. Just telegram this number below. I sold about 3000 pi coins to him and he paid me immediately.
Telegram: @Pi_vendor_247
The European Unemployment Puzzle: implications from population agingGRAPE
We study the link between the evolving age structure of the working population and unemployment. We build a large new Keynesian OLG model with a realistic age structure, labor market frictions, sticky prices, and aggregate shocks. Once calibrated to the European economy, we quantify the extent to which demographic changes over the last three decades have contributed to the decline of the unemployment rate. Our findings yield important implications for the future evolution of unemployment given the anticipated further aging of the working population in Europe. We also quantify the implications for optimal monetary policy: lowering inflation volatility becomes less costly in terms of GDP and unemployment volatility, which hints that optimal monetary policy may be more hawkish in an aging society. Finally, our results also propose a partial reversal of the European-US unemployment puzzle due to the fact that the share of young workers is expected to remain robust in the US.
Introduction to Indian Financial System ()Avanish Goel
The financial system of a country is an important tool for economic development of the country, as it helps in creation of wealth by linking savings with investments.
It facilitates the flow of funds form the households (savers) to business firms (investors) to aid in wealth creation and development of both the parties
USDA Loans in California: A Comprehensive Overview.pptxmarketing367770
USDA Loans in California: A Comprehensive Overview
If you're dreaming of owning a home in California's rural or suburban areas, a USDA loan might be the perfect solution. The U.S. Department of Agriculture (USDA) offers these loans to help low-to-moderate-income individuals and families achieve homeownership.
Key Features of USDA Loans:
Zero Down Payment: USDA loans require no down payment, making homeownership more accessible.
Competitive Interest Rates: These loans often come with lower interest rates compared to conventional loans.
Flexible Credit Requirements: USDA loans have more lenient credit score requirements, helping those with less-than-perfect credit.
Guaranteed Loan Program: The USDA guarantees a portion of the loan, reducing risk for lenders and expanding borrowing options.
Eligibility Criteria:
Location: The property must be located in a USDA-designated rural or suburban area. Many areas in California qualify.
Income Limits: Applicants must meet income guidelines, which vary by region and household size.
Primary Residence: The home must be used as the borrower's primary residence.
Application Process:
Find a USDA-Approved Lender: Not all lenders offer USDA loans, so it's essential to choose one approved by the USDA.
Pre-Qualification: Determine your eligibility and the amount you can borrow.
Property Search: Look for properties in eligible rural or suburban areas.
Loan Application: Submit your application, including financial and personal information.
Processing and Approval: The lender and USDA will review your application. If approved, you can proceed to closing.
USDA loans are an excellent option for those looking to buy a home in California's rural and suburban areas. With no down payment and flexible requirements, these loans make homeownership more attainable for many families. Explore your eligibility today and take the first step toward owning your dream home.
Poonawalla Fincorp and IndusInd Bank Introduce New Co-Branded Credit Cardnickysharmasucks
The unveiling of the IndusInd Bank Poonawalla Fincorp eLITE RuPay Platinum Credit Card marks a notable milestone in the Indian financial landscape, showcasing a successful partnership between two leading institutions, Poonawalla Fincorp and IndusInd Bank. This co-branded credit card not only offers users a plethora of benefits but also reflects a commitment to innovation and adaptation. With a focus on providing value-driven and customer-centric solutions, this launch represents more than just a new product—it signifies a step towards redefining the banking experience for millions. Promising convenience, rewards, and a touch of luxury in everyday financial transactions, this collaboration aims to cater to the evolving needs of customers and set new standards in the industry.
Poonawalla Fincorp and IndusInd Bank Introduce New Co-Branded Credit Card
Accounting midterm iii
1. TOPIC 1
1 What items on the balance sheet are considered to be sources for financing economic resources (assets)?
A) liabilities and contributed capital, only
B) liabilities only
C) contributed capital and retained earnings, only
D) liabilities and stockholders' equity
2 Which of the following items would be shown as part of the Stockholder's Equity on the balance sheet?
A) Cash
B) Notes Payable
C) Retained Earnings
D) Accounts Receivable
3 Assets total $450,000, liabilities total $120,000, and contributed capital totals $200,000. What is the dollar amount of retained earnings?
A) $80,000
B) $330,000
C) $320,000
D) $130,000
4 A company sold $400,000 of merchandise for cash and $120,000 of merchandise to credit customers who will pay for the merchandise in a
later time period. How much revenue should be reported on the income statement of the current time period?
A) $280,000
B) $520,000
C) $400,000
D) $120,000
5 The beginning balance of retained earnings was $7,500. The dividends paid to stockholders' were $1,500. The ending balance of retained
earnings is $5,000. What was the net income or net loss for the accounting period?
A) net loss of $1,000
B) net income of $1,000
C) net loss of $2,000
D) net income of $2,500
6 Which cash flow activity is related to borrowing money on a long-term basis?
A) operating activities
B) investing activities
C) financing activities
D) investing and financing activities
7 Which of the following transactions would be considered an investing activity on a Statement of Cash Flows?
A) Purchased equipment for cash
B) Sold stock for cash to stockholders
C) Borrowed $200,000 on a long-term note
D) Paid $45,000 for inventory for resale
8 Liabilities are listed on the balance sheet in
A) order of their relative dollar size.
B) order of their maturity or due date.
C) no particular order
D) alphabetical order
9 Which organization has primary responsibility for developing United States generally accepted accounting principles (GAAP)?
A) American Institute of Certified Public Accountants (AICPA)
B) Financial Accounting Standards Board (FASB)
C) Securities and Exchange Commission (SEC)
D) Internal Revenue Service (IRS)
10 The primary purpose of an audit (examination) of the financial reports of a company is to
A) uncover fraud.
B) determine who is guilty of malpractice.
C) determine whether the financial reports conform to GAAP.
D) examine every document and transaction to verify it was accurately reported.
TOPIC 2
1 The major objective of financial reporting is to provide:
A) essential information to internal users of financial reports.
B) useful economic information about the business to help external parties make sound financial decisions.
C) information to internal users about the cash position of the business.
D) information to the IRS and the Securities Exchange Commission (SEC).
2 German companies prepare their financial reports in terms of euros whereas Japanese companies report results in yen. This practice is an
example of the:
A) Historical cost principle
B) Materiality constraint
2. C) Full disclosure principle
D) Unit-of-Measure Assumption
3 A company purchased a computer, office furniture, and office supplies by issuing a check for $5,000 and a note payable for $19,500. The
market value of the items was $26,300. The total recorded value of the items is
A) $26,300
B) $19,500
C) $24,500
D) $31,300
4 Unearned Revenue is classified as which type of account?
A) asset
B) liability
C) stockholders' equity
D) revenue
5 Cost of Goods Sold is classified as which type of account?
A) asset
B) liability
C) revenue
D) expense
6 Retained Earnings is classified as which type of account?
A) asset
B) liability
C) stockholders' equity
D) expense
7 A company purchased office supplies on credit. What two accounts are affected by the transaction?
A) Supplies and Cash
B) Supplies and Accounts Payable
C) Equipment and Accounts Payable
D) Stockholders' Equity and Accounts Payable
8 A company sold 10,000 shares of its common stock for a total of $45,000. What two accounts are affected by the transaction?
A) Cash and Retained Earnings
B) Cash and Revenue
C) Cash and Contributed Capital
D) Cash and Accounts Receivable
9 A company purchased office equipment by issuing a short-term note payable. What two accounts were affected by the transaction?
A) Equipment and Cash
B) Equipment and Accounts Payable
C) Equipment and Notes Payable
D) Equipment and Stockholders' Equity
10 A company declares a cash dividend to be paid to its stockholders next month. The effect of the transaction is to:
A) Decrease assets and liabilities.
B) Increase assets and stockholders' equity.
C) Decrease assets and stockholders' equity.
D) Increase liabilities and decrease stockholders' equity.
TOPIC 3
1 Although income is earned continuously, companies measure income for a specific period of time. Accountants refer to this practice as:
A) unit of measure assumption.
B) time period assumption.
C) matching principle.
D) continuity assumption.
2 Consider the following totals:
Revenues $100,000
Cost and expenses 45,000
Other revenues 5,000
Income taxes 18,000
Net income $42,000
What was the total of operating income?
A) $42,000
B) $55,000
C) $60,000
D) $37,000
3 Which of the following is a peripheral transaction?
A) income tax expense
3. B) interest expense
C) general and administrative expenses
D) depreciation expense
4 Current year sales revenues total $1,250,000. The total assets at the end of the previous year totaled $900,000. Total assets at the end of
the current year totaled $980,000. What is the asset turnover ratio?
A) 1.330
B) 1.389
C) 1.276
D) 1.156
5 When delivery of goods and services for $25,000 results in a cash receipt of $15,000 and the balance of $10,000 on account, the reported
revenues for the time period are
A) $15,000
B) $25,000
C) $10,000
D) $5,000
6 Which of the following accounts would be increased with a debit?
A) Contributed Capital
B) Retained Earnings
C) Revenues
D) Expenses
7 Langhurst Company sold hardware for $12,000 cash and $18,000 of hardware to credit customers. Which of the following is the correct
journal entry to record this transaction?
A) Cash, debit, $12,000; Accounts Receivable, credit, $18,000; Unearned Revenues, credit, $30,000
B) Cash, debit, $12,000; Accounts Receivable, debit, $18,000, Hardware Revenues, credit, $30,000
C) Cash, debit, $12,000; Unearned Revenues, debit, $18,000; Hardware Revenues, $30,000
D) Cash, debit, $30,000; Hardware Revenues, credit, $30,000
8 At the beginning of January, Langhurst Company paid $6,000 for insurance for the next four months beginning January 1, $3,000 for
advertising to be run from February 1 to March 15, and $8,000 for rent over the next two months beginning January 1. What is the correct
journal entry for recording a summary of these transactions?
A) General and Administrative Expenses 17,000
Cash 17,000
B) General and Administrative Expenses 17,000
Accounts Payable 17,000
C) Prepaid Expenses 17,000
Cash 17,000
D) Prepaid Expenses 14,000
Advertising Expense 3,000
Cash 17,000
9 In January, Langhurst Company paid $9,000 for utilities, repairs, and maintenance of delivery vehicles. Which of the following is the correct
journal entry for recording this transaction?
A) Other Expenses and Losses 9,000
Cash 9,000
B) General and Administrative Expenses 9,000
Accounts Payable 9,000
C) General and Administrative Expenses 9,000
Cash 9,000
D) Prepaid Expenses 9,000
Cash 9,000
10 Consider the following information provided in no particular order:
Lumber Revenues $120,000
General and Administrative Expenses 45,000
Rent Expense 6,000
Depreciation Expense 3,000
Loss on Sale of Land 2,000
Hardware Revenues 85,000
Interest Expense 4,000
Income Taxes 11,000
Cost of sales 115,000
What is the dollar amount of the operating income?
A) $36,000
B) $15,000
C) $17,000
D) $205,000
4. TOPIC 13
1 A cash equivalent is a short-term, highly liquid investment with an original maturity date of less than
A) six months.
B) five months.
C) four months.
D) three months.
2 The statement of cash flows prepared under the indirect method starts with
A) cash receipts and cash expenditures to compute net cash inflow or outflow from operating activities.
B) the net income determined using the accrual method of accounting and adjusts it to the cash flow from operating activities.
C) the net income determined using the cash basis of accounting and adjusts it to an accrual basis.
D) cash receipts and cash expenditures to compute net cash inflow or outflow from investing activities.
3 Which of the following is reported as an investing activity on the statement of cash flows?
A) sale of common stock
B) purchase of office equipment
C) collection of accounts receivable
D) purchase of treasury stock
4 Consider the following:
Activity Amount
Purchased production equipment $150,000
Sold common stock, at par $250,000
Sold office equipment at book value $12,000
Sold merchandise on accounts receivable $560,000
Paid cash dividends $45,000
What was the net cash inflow (outflow) from investing activities?
A) ($138,000)
B) ($12,000)
C) ($183,000)
D) $103,000
5 Consider the following:
Net cash inflows from operating activities $450,000
Net cash outflows from investing activities ($230,000)
Net cash inflows from financing activities$200,000
What was the net increase or decrease in cash during the period?
A) The cash increase or decrease for the period cannot be determined.
B) $880,000
C) $420,000
D) $220,000
6 Equipment with an original cost of $140,000 and accumulated depreciation of $130,000 was sold for $12,000 cash . What amount of this
transaction will be reported as an investing activity on the statement of cash flows?
A) $10,000
B) $12,000
C) $2,000
D) $128,000
7 When property, plant, or equipment are sold at price that is in excess of book value, the sales should be reported as an inflow of cash from
an investing activity equal to the
A) book value of the asset.
B) cash selling price of the asset.
C) cash selling price of the asset minus any gain on the asset.
D) cash selling price of the asset minus the book value.
8 Consider the following transactions:
Cash purchase of second hand delivery van $40,000
Cash sale of an investment $12,000
Paid cash dividends $120,000
Retired bonds prior to maturity $450,000
Sold used equipment for cash $13,000
What was the net cash flow from investing activities?
A) $27,000 inflow
B) $330,000 outflow
C) $15,000 outflow
D) $585,000 outflow
9 Consider the following transactions:
Paid interest with cash $4,000
Paid cash dividends $45,000
Sold common stock for cash $1,200,000
Purchased treasury stock for cash $360,000
Sold bonds for cash $800,000
What was the net cash inflow from financing activities?
5. A) $1,685,000
B) $1,595,000
C) $1,560,000
D) $840,000
10 A building was acquired in exchange for 20,000 shares of the company's $10 par common stock. This transaction is reported on a statement
of cash flows as
A) a financing activity.
B) an operating activity.
C) a noncash investing and financing activity.
D) an investing activity.
TOPIC 14
1 Businesses can earn a high rate of return by following two fundamental strategies, which are
A) product differentiation and cost advantage.
B) product differentiation and cash management.
C) cost advantage and efficient markets.
D) cost advantage and industry factors.
2 Tests of profitability usually include which one of the following in the measurement?
A) owners' equity
B) average total assets
C) income
D) cash flows from operating activities
3 Consider the following information:
Net sales revenue $1,850,000
Income $180,000
Interest expense $12,000
Income tax expense $30,000
Beginning common shares outstanding 450,000
Ending common shares outstanding 470,000
Income before extraordinary items $340,000
Compute the earnings per share to the nearest cent.
A) $0.48
B) $0.39
C) $0.25
D) $0.74
4 The return on equity is 16.8%. The return on total assets is 12.5%. The earnings per share is $0.50. The profit margin is 6.8%. What is the
financial leverage percentage?
A) 10.0%
B) 4.3%
C) 5.7%
D) 1.5%
5 Consider the following information:
Cash $45,000
Cash equivalents $60,000
Cash flows from operating activities $970,000
Current assets $480,000
Current liabilities $230,000
Net credit sales $890,000
Average net receivables $62,000
Compute the cash ratio to the nearest hundredth.
A) 0.46 to 1
B) 0.19 to 1
C) 2.08 to 1
D) 1.73 to 1
6 Consider the following information:
Cash $15,000
Beginning net receivables $55,000
Ending net receivables $57,000
Net sales $640,000
Net credit sales $480,000
Cost of goods sold $390,000
Average inventory $62,000
Compute the receivable turnover to the nearest hundredth.
A) 11.43
B) 8.57
C) 11.23
D) 8.42
7 The equation of Cash + Cash Equivalents/Current Liabilities is used to compute which ratio?
6. A) quick (or acid test) ratio
B) cash ratio
C) current ratio
D) quality of income
8 Consider the following information:
Total current liabilities $120,000
Total long-term liabilities $890,000
Ending balance of owners' equity $1,500,000
Ending balance of retained earnings $420,000
Ending balance of fixed assets $1,560,000
Compute the debt-to-equity ratio to the nearest hundredth.
A) 0.53
B) 0.57
C) 0.46
D) 0.67
9 Consider the following information:
Income $130,000
Beginning shares outstanding 250,000
Ending shares outstanding 270,000
Current price per share $7.50
Dividend per share $1.20
Compute the market test of price/earnings ratio to the nearest tenth.
A) 6.3
B) 15.0
C) 17.3
D) 5.0
10 Consider the following information:
Income $130,000
Beginning shares outstanding 250,000
Ending shares outstanding 270,000
Current price per share $7.50
Dividend per share $1.20
Compute the market test of dividend yield to the nearest tenth.
A) 1.5%
B) 41.7%
C) 16.0%
D) 6.3%