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Goodwillis the intangible assets ( )

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The gross margin method uses past experience as a basis. The retail inventory method uses current experience. ( )

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The ethical codes are integrity, confidentiality, competence and objectivity. ( )

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The primary objective of financial reporting is ( )

A. to present information in an ethical manner
B. to provide information to the federal government
C. to provide information useful for investment and lending decisions
D. to provide information useful to managers in making daily decisions

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Which of the following groups of accounts correctly appear on the post-closing trial balance? ( )

A. Rent Expense, Prepaid Rent, Capital
B. Withdrawals, revenue, Accumulated Depreciation
C. Income Summary, Interest Receivable, Note Payable
D. Ordinary shares, Cash, Unearned Revenue

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