10- At October 1, Arcade Fire Enterprises reported stockholders’
equity of $35,000. During October, common stock of $2,000 was issued
and the company earned net income of $7,000. If stockholders’ equity
at October 31 totals $40,000, what amount of dividends were paid
during the month?
$2,000
$4,000
$5,000
$0
11 -Ethics are the standards of conduct by which one’s actions are
judged as
all of these.
honest or dishonest.
right or wrong.
fair or unfair.
12- Which of the following is not a reason one set of international
accounting standards are needed?
multinational corporations
mergers and acquisitions
information technology
all of these are reasons one set of international accounting standards
are needed.
13-Stockholders’ equity is decreased by all of the following except