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Comprehensive Analysis of Corporate Financial Statements and Accounting Choices

Analyzes financial statements.

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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 taxesSimple to set upLimited liability for stockholdersOwner maintains controlQuestion 2.2. (TCO A) Dividends flow through which one of the following statements? (Points : 5)The Balance SheetThe Statement of Retained EarningsThe Income StatementNone of the aboveQuestion 3.3. (TCOs A and B) Below is a partial list of account balances for LBJ Company.Cash$12,000Prepaid rent1,300Accounts receivable7,000Accounts payable5,000Notes payable9,000Common stock22,000

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