题目内容

The Accounts Payable account in the general ledger is: ()

A. Part of a subsidiary ledger.
B. The account that controls the purchases journal.
C. The subsidiary account to the purchases journal.
D. A controlling account for the subsidiary accounts payable ledger.

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A corporation: ()

A. Is a business legally separate from its owners.
B. Has shareholders who have unlimited liability for the acts of the corporation.
C. Is the same as a limited liability partnership.
D. Is not subject to double taxation.

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The rule that requires financial statements to reflect the assumption that the business will continue operating instead of being closed or sold, unless evidence shows that it will not continue, is the: ()

A. Going-concern assumption.
Business entity assumption.
C. Monetary unit assumption.
D. Cost Principle.

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An example of a financing activity is: ()

A. Buying office supplies.
B. Obtaining a long-term loan.
C. Buying office equipment.
D. Selling inventory.

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Resources that are expected to yield future benefits are: ()

Assets.
B. Revenues.
C. Liabilities.
D. Owner's Equity.

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The Accounts Payable account in the general ledger is: ()

A. Part of a subsidiary ledger. B. The account that controls the purchases journal. C. The subsidiary account to the purchases journal. D. A controlling account for the subsidiary accounts payable ledger.

A corporation: ()

The rule that requires financial statements to reflect the assumption that the business will continue operating instead of being closed or sold, unless evidence shows that it will not continue, is the: ()

An example of a financing activity is: ()

Resources that are expected to yield future benefits are: ()

A. Part of a subsidiary ledger.
B. The account that controls the purchases journal.
C. The subsidiary account to the purchases journal.
D. A controlling account for the subsidiary accounts payable ledger.