Question

In: Accounting

The corporation whose stock can be bought and sold on stock exchanges and in over the...

The corporation whose stock can be bought and sold on stock exchanges and in over the counter markets are referred to as

closely held corp

sole proprietorships

privately owned Corp

publicly owned corp

2. if the prepaid expenses are not adjusted assets on the balance sheet

will not be affected

will be understand

may be either overstated or understated

will be overstated

3. which of the following account would be closed at the end of the year

acc depreciation

capital

supplies expense

accent rec

4.the financial statement that is prepared first is

income statement

up tot he accountant

owners equity

balance sheet

5. the first place a transaction is recorded is in the

trial balance

source doc

general ledger

journal

6.which of the following is not a type of information communicated by the financial statement

whether or not the business is profitable

how much the business owes others

What type of assets business owns

how long business has been in operation

Expert Solution

ekkarill92 answered 2 years ago

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