Which of the following accounts appears in the statement of stockholders' equity

71. Net income appears in which two financial statements? 

A. Balance sheet and income statement.
B. Statement of stockholders' equity and balance sheet.
C. Income statement and statement of stockholders' equity.
D. Net income appears in only one financial statement.

 

72. Which of the following accounts appears in the statement of stockholders' equity? 

A. Accounts Payable
B. Accounts Receivable
C. Common Stock
D. Supplies

73. Which of the following items would not appear in an income statement? 

A. Delivery expense.
B. Accounts payable.
C. Service revenue.
D. Utilities expense.

74. Which of the following is not a balance sheet item? 

A. Assets.
B. Retained Earnings.
C. Expenses.
D. Liabilities.

75. Which accounting amount best represents value created for stockholders during the current period? 

A. Retained earnings.
B. Total assets.
C. Net income.
D. Stockholders' equity.

76. Which accounting number has the single greatest impact on stock prices? 

A. Total dividends.
B. Total assets.
C. Total revenues.
D. Net income.

77. GAAP is an abbreviation for: 

A. Generally authorized accounting procedures.
B. Generally applied accounting procedures.
C. Generally accepted auditing practices.
D. Generally accepted accounting principles.

78. Generally Accepted Accounting Principles (GAAP) are best defined as:

A. Standards or methods for presenting financial accounting information.
B. Government-mandated rules that companies must follow.
C. Rules that best estimate profitability for a company.
D. The group of individuals that create and enforce all accounting rules.

79. Today, financial accounting and reporting standards in the United States are established primarily by the: 

A. Securities and Exchange Commission.
B. International Accounting Standards Board.
C. Financial Accounting Standards Board.
D. U.S. Congress.

80. Financial reporting objectives do not include providing information: 

A. Useful to investors and creditors in making decisions.
B. To determine market values, assess profit potential, and evaluate management.
C. Helpful to investors in predicting cash flows.
D. That tells about a company's economic resources and claims to those resources.