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central government planners
2- If the retained earnings account increases from the beginning of the
year to the end of the year, then
net income is less than dividends.
a net loss is less than dividends.
the company must have sold stock.
net income is greater than dividends
3-If an individual asset is increased, then
there must be an equal decrease in a specific liability.
there must be an equal decrease in stockholders’ equity.
there must be an equal decrease in another asset.
any of these is possible
4-The accounting process is correctly sequenced as
identification, recording, communication.
recording, communication, identification.
communication, recording, identification.
identification, communication, recording.
4- If total assets equal $345,000 and total stockholders’ equity equal
$120,000, then total liabilities must equal