731. A primary user of accounting information with a direct financial interest in the business is a…?
A.labour union
B. director
C. taxing authority
D. regulatory agency

732. Accounting for government, foundations, hospitals, labour unions, colleges/universities, and charities is part of which broad category within the accounting profession?
A. Management consulting
B. Cost accounting
C. Public accounting
D. Not-for-profit accounting

733. When revenue is greater than expenses, you have a ___?
A. Net Loss
B. Net Income
C. Contributed Capital
D. Historical Valuation

734. Assets – Liabilities = ____?
A. Net Income
B. Revenue
C. Net Loss
D. Shareholder’s Equity

735. Which financial statement shows the results of the operating activities of a firm for a specific period of time?
A. Income Statement
B. Statement of Cash Flow
C. Balance Sheet
D. Trial Balance sheet

736. This statement reports the net cash flows relating to operating, investing, and financing activities for a period of time?
A. Income Statement
B. Unadjusted Trial Balance
C. Comparative Balance Sheet
D. Statement of Cash Flows

737. Which government agency has the authority to set acceptable accounting methods in the U.S.?
A. State Department
B. FAA
C. SEC
D. EEOC

738. The amount of cash paid in acquiring an asset is called what?
A. Current Replacement Cost
B. Present Value
C. Net Realizable Cost
D. Historical Cost

739. Which is an example of an intangible asset?
A. Cash
B. Patent
C. Equipment
D. Building

740. Earnings that a firm realizes in excess of dividends are called what?
A. Retained Earnings
B. Expenses
C. Revenue
D. Income Statement

NOTE
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