1. What is the momentum of a photon of light that has a frequency of 2.9 x 10^14 Hz?

a) 1.5 x 10^-28 kg m/s

b) 2.1 x 10^-28 kg m/s

c) 4.4 x 10^-28 kg m/s

d) 6.3 x 10^-28 kg m/s

e) 6.2 x 10^-28 kg m/s

ANSWER E

2. What is the momentum of a photon of light that has a wavelength of 480nm?

a) 1.1 x 10^-27 kg m/s

b) 2.2 x 10^-27 kg m/s

c) 1.8 x 10^-27 kg m/s

d) 1.4 x 10^-27 kg m/s

e) 2.0 x 10^-27 kg m/s

ANSWER: D

Question 1

How would a sale of $400 of inventory on credit affect the balance sheet if the cost of the inventory sold was $160?

How would a purchase of inventory on credit affect the income statement?

Question 4

Which one of the following statement(s) is (are) most likely to be TRUE?

I. When shareholders contribute capital to a company, earned capital increases because the company has earned the shareholders’ investments.
II. Revenues and expenses affect the income statement but not the balance sheet.
III. Retained earnings articulate across time which means that last period’s retained earnings plus current period net income (or loss) is equal to the current period’s retained earnings.
IV. Revenue is typically recorded as earned when cash is received because that is when the company can measure the revenue objectively.

Question 5

During fiscal year-end 2016, Kohl’s Corporation reports the following (in $ millions): net income of $556, retained earnings at the end of the year of $12,522 and retained earnings at the beginning of the year of $12,329. Assume that there were no other retained earnings transactions during fiscal 2016.

What dividends did the firm pay in fiscal year ended January 28, 2017?

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