Comprehensive Analysis of Corporate Financial Statements and Accounting Choices
Analyzes financial statements.
Lily Green
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Comprehensive Analysis of Corporate Financial Statements and Accounting Choices
(TCO A) A corporation has which of the following advantages? (Points : 5)
Reduced taxes
Simple to set up
Limited liability for stockholders
Owner maintains control
Question 2.2. (TCO A) Dividends flow through which one of the following statements? (Points : 5)
The Balance Sheet
The Statement of Retained Earnings
The Income Statement
None of the above
Question 3.3. (TCOs A and B) Below is a partial list of account balances for LBJ Company.
Cash
$12,000
Prepaid rent
1,300
Accounts receivable
7,000
Accounts payable
5,000
Notes payable
9,000
Common stock
22,000
(TCO A) A corporation has which of the following advantages? (Points : 5)
Reduced taxes
Simple to set up
Limited liability for stockholders
Owner maintains control
Question 2.2. (TCO A) Dividends flow through which one of the following statements? (Points : 5)
The Balance Sheet
The Statement of Retained Earnings
The Income Statement
None of the above
Question 3.3. (TCOs A and B) Below is a partial list of account balances for LBJ Company.
Cash
$12,000
Prepaid rent
1,300
Accounts receivable
7,000
Accounts payable
5,000
Notes payable
9,000
Common stock
22,000
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Subject
Finance