Which of the following items will usually not be disclosed

Reference no: EM13598442

1. The closing entry for an expense account would
A. Debit Income Summary and credit the expense
B. Debit the expense and credit Income Summary
C. Credit Retained Earnings and debit the expense
D. Credit Revenue and debit the expense

2. Which account will appear on an after-closing trial balance?
A. Dividends.
B. Prepaid Expenses.
C. Retained Earnings, at the beginning of the period.
D. Sales.

3. Which of the following items will usually not be disclosed in an annual report?
A. Lawsuits pending against the business.
B. Significant events occurring after the balance sheet date but before the financial statements are actually issued.
C. Scheduled plant closings.
D. All three of the above would be disclosed.

Reference no: EM13598442

Questions Cloud

Paul swanson has an opportunity to acquire a franchise : paul swanson has an opportunity to acquire a franchise from the yogurt place inc. to dispense frozen yogurt products

Stevenson corporation had 550000 in invested assets sales : stevenson corporation had 550000 in invested assets sales of 660000 income from operations amounting to 99000 and a

Sierra company is considering a long-term investment : sierra company is considering a long-term investment project called zip. zip will require an investment of 121200. it

The management of ballard microbrew is considering the : the management of ballard microbrew is considering the purchase of an automated bottling machine for 120000. the

Which of the following items will usually not be disclosed : 1. the closing entry for an expense account would a. debit income summary and credit the expense b. debit the expense

Roberta is a us citizen who has established legal : roberta is a u.s. citizen who has established legal residency in france. she has been teaching english there for

The growth rate in dividends is expected to be a constant 6 : universal laser onc. just paid a dividend of 2.75 on its stock. the growth rate in dividends is expected to be a

State university waives tuition for all graduate assistants : state university waives tuition for all graduate assistants. the waiver is to compensate for services rendered as

When an employee dies an employer may make payments to the : when an employee dies an employer may make payments to the surviving members of the family. those payments will be

User Account

All Pages