Accounting Help for College and University Students

Accounting

Accounting multiple choice questions

A multiple choice question on the primary purpose of accounting.

The primary purpose of accounting is to: A) Certify the accuracy of records B) Maximize the amount of profit that a firm has earned C) Measure and report financial information of economic entities D) Provide useful information about economic entities for decision making

The amount of risk and return experienced by an organization are influenced by

1) The amount of risk and return experienced by an organization are influenced by: Managements Financing Changes in social and investing activities and political matters A) No No B) Yes Yes C) Yes No D) No Yes Please select one of the answers mentioned above.

Which is investing activity: purchase equipment, pay dividends, pay interest, capital

Which of the following events is an investing activity to a company? A) Purchase of equipment B) Payment of cash dividends C) Payment of interest D) Owners investment of additional capital into the company Please select one of the above stated answers.

Financing activities: selling equipment, paying interest, paying principal, buy equipment

Which of the following events is a financing activity to a company? A) Selling equipment B) Paying interest on a loan C) Paying off the principal portion of a loan D) Purchasing equipment Please select one of the answers stated above.

Financial Accounting

1) Accounting information is used: By employees to evaluate By top managers to their employment contracts assess management performance A) Yes Yes B) No Yes C) Yes No D) No No Please select one of the above stated answers.

Multiple choice question about the accounting term used when business services are sold to another organization.

Young Associates sold business services to another organization. As a result, Young's assets increased. Which accounting term best describes the concept involved in this situation? A) Financing activity. B) Liability. C) Revenue. D) Dividends. Please select one of the answers stated above.

Multiple choice question about the issuance of quarterly financial statements.

The issuance of quarterly financial statements by a company is an example of: A) The periodic measurement concept. B) An operating activity. C) The going concern concept. D) The Transformation process. Please select one of the answers stated above.

Financial Accounting

1) If a firm's depreciation expense doubles, which of the following will increase? See attached file #1

Financial Accounting

Which of the following accounts would not be found in an adjusting entry? A) Accumulated depreciation. B) Cash. C) Wages expense. D) Unearned revenue. Please select one of the following answers stated above.