LCR & AED EXAM 2025 WITH 100%
CORRECT ANSWERS
LCR - CORRECT ANSWER✔✔Credits: Liabilities, Capital, Revenue
AED - CORRECT ANSWER✔✔Assets, Expenses, Dividends
Capital is made up of - CORRECT ANSWER✔✔Common Stock and Retained Earnings
Left side - CORRECT ANSWER✔✔Debits
Right side - CORRECT ANSWER✔✔Credits
Income Statement formula - CORRECT ANSWER✔✔Revenues - Expenses = Net Income/loss
Balance Sheet Formula - CORRECT ANSWER✔✔Assets = Liabilities + Stockholders' Equity
Retained Earnings Statement - CORRECT ANSWER✔✔A financial statement that summarizes the
changes in retained earnings for a specific period of time
Fees earned is considered - CORRECT ANSWER✔✔revenue
stockholders equity equation - CORRECT ANSWER✔✔common stock + retained earnings
Revenue is recognized when - CORRECT ANSWER✔✔earned
CORRECT ANSWERS
LCR - CORRECT ANSWER✔✔Credits: Liabilities, Capital, Revenue
AED - CORRECT ANSWER✔✔Assets, Expenses, Dividends
Capital is made up of - CORRECT ANSWER✔✔Common Stock and Retained Earnings
Left side - CORRECT ANSWER✔✔Debits
Right side - CORRECT ANSWER✔✔Credits
Income Statement formula - CORRECT ANSWER✔✔Revenues - Expenses = Net Income/loss
Balance Sheet Formula - CORRECT ANSWER✔✔Assets = Liabilities + Stockholders' Equity
Retained Earnings Statement - CORRECT ANSWER✔✔A financial statement that summarizes the
changes in retained earnings for a specific period of time
Fees earned is considered - CORRECT ANSWER✔✔revenue
stockholders equity equation - CORRECT ANSWER✔✔common stock + retained earnings
Revenue is recognized when - CORRECT ANSWER✔✔earned
