can anyone please help me…i have limited time thanks in advance
can anyone please help me…i have limited time thanks in advance
Question 1.1.(TCO 1) The owner’s interest in the assets of a corporation is known as(Points : 6)common stock.stockholders equity.long-term assets.operating expenses.Question 2.2.(TCO 1) An investor wishing to assess a company’s financial position at the end of the period would probably examine(Points : 6)the balance sheet.the statement of retained earnings.the income statement.the statement of cash flows.Question 3.3.(TCO 2) An account is increased by a debit and has a normal balance of a debit. This account is a(n)(Points : 6)expense account.liability account.asset account.both an expense account and an asset account.Question 4.4.(TCO 2) When using a four-column ledger account format, the pair of columns on the far right are used to show(Points : 6)the transactions’ date and journal reference.the debit and credit amounts posted from journal entries.the names of the accounts being debited and credited.the account’s balance.Question 5.5.(TCO 3) A trial balance showed total debits of $280,000 and total credits of $28,000. This discrepancy is most likely due to which type oferror?(Points : 6)SlideMislabelingTranspositionMissing transactionQuestion 6.6.(TCO 3) Which of the following statements regarding a trial balance is correct?(Points : 6)A trial balance may be taken at any time during the accounting period.A trial balance shows that total debits equals total credits.A trial balance is a list of all accounts with their balances.All of the above.
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