BIOTECHNOLOGY REPORT SHEET ACTUAL
EXAM TEST BANK QUESTIONS AND VERIFIED
ANSWERS 100% CORRECT COMPLETE
QUESTIONS AND ANSWERS
◉Current equity is calculated how? Answer: beginning capital account
balance + net income (or -net loss) - drawing account balance= current
equity
◉A(n) _____________ describes a company's financial position (types
and amounts of assets, liabilities, and equity) at a point in time:
a. income statement
b. statement of stockholders' equity
c. balance sheet
d. statement of cash flows Answer: balance sheet
◉Which is NOT found on a Balance Sheet
a. assets
b. liabilities
c. capital Stock
d. equity Answer: capital stock
, ◉The owner's equity account is reported on the ______.
a. general journal
b. income statement
c. balance sheet
d. statement of cash flows Answer: balance sheet
◉A listing of customer accounts, account balances, and total amount due
from all customers is a ______.
a. an account,
b. a chart of accounts
c. a schedule of accounts receivable
d. a schedule of accounts payable Answer: a schedule of accounts
receivable
◉A listing of vendor accounts, account balances, and the total amount
due is called a ______.
a. a schedule of accounts payable
b. a schedule of accounts receivable
c. a bank statement
d. a check register Answer: schedule of accounts payable
◉Assets = Liabilities + Equity is known as the ______.
EXAM TEST BANK QUESTIONS AND VERIFIED
ANSWERS 100% CORRECT COMPLETE
QUESTIONS AND ANSWERS
◉Current equity is calculated how? Answer: beginning capital account
balance + net income (or -net loss) - drawing account balance= current
equity
◉A(n) _____________ describes a company's financial position (types
and amounts of assets, liabilities, and equity) at a point in time:
a. income statement
b. statement of stockholders' equity
c. balance sheet
d. statement of cash flows Answer: balance sheet
◉Which is NOT found on a Balance Sheet
a. assets
b. liabilities
c. capital Stock
d. equity Answer: capital stock
, ◉The owner's equity account is reported on the ______.
a. general journal
b. income statement
c. balance sheet
d. statement of cash flows Answer: balance sheet
◉A listing of customer accounts, account balances, and total amount due
from all customers is a ______.
a. an account,
b. a chart of accounts
c. a schedule of accounts receivable
d. a schedule of accounts payable Answer: a schedule of accounts
receivable
◉A listing of vendor accounts, account balances, and the total amount
due is called a ______.
a. a schedule of accounts payable
b. a schedule of accounts receivable
c. a bank statement
d. a check register Answer: schedule of accounts payable
◉Assets = Liabilities + Equity is known as the ______.
