Accounting 3

Front 1

The application of the matching principle to deprecation of plant and equipment can best be described as

Back 1

Offsetting revenue of an accounting period with the portion of the cost of plant and equipment estimated to have been used up during the accounting period

Front 2

All of the following are examples of current liabilities except

Back 2

Pledged assets

Front 3

The current portion of long term debt should be reported

Back 3

In the current liabilities section of the balance sheet

Front 4

The advantage of corporations going public included all of the following except

Back 4

Ability to remove assets

Front 5

Public corporations are required by law or regulation to perform all of the following except

Back 5

Make regularly scheduled dividend payments to all stockholders

Front 6

A primary disadvantage of the corporate form of organization is

Back 6

Corporate earnings are subject to double taxation

Front 7

Which of the following is not a right of stockholders

Back 7

To select the chief executive officer

Front 8

The amount of earnings per share is usually computed

Back 8

For common stock by deducting the dividends on preferred stock from net income and dividing the remaining amount by the weighted average number of common shares outstanding

Front 9

The purpose of devolving the subtotals in an income statement is to

Back 9

Assist investors in forecasting future operating results

Front 10

In computing earnings per share the number of shares used is

Back 10

The weighted average of shares outstanding for the year

Front 11

To qualify as an extraordinary item a gain or loss must

Back 11

Be material in amount unusual in nature and not expected to recur

Front 12

Webster compnay

Back 12

Debit to discount bonds payable 30,000

Front 13

Webster compnay

Back 13

Debit to discount bonds payable 30,000

Front 14

Jupiter company

Back 14

60,000

Front 15

Grande home

Back 15

21,000 debit

Front 16

Platinum company

Back 16

5.20