DEVRY ACCT 301 Week 2 Quiz
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ACCT 301 Week 2 Quiz
1 . ( TCO 1 ) Which of the following would not be considered an external user of accounting data for XYZ Company ?
2 . ( TCO 1 ) The cost of assets consumed or services used is also known as _________.
3 . ( TCO 1 ) The financial statement that summarizes the changes in retained earnings for a specific period of time is the _________.
4 . ( TCO 1 ) Pinson Company began the year with retained earnings of $ 210,000 . During the year , the company recorded revenues of $ 300,000 , expenses of $ 228,000 , and paid dividends of $ 24,000 . What was Pinson ’ s retained earnings at the end of the year ?
5 . ( TCO 4 ) Which of the following statements is not true ?
6 . ( TCO 4 ) Using the following balance sheet and income statement data , what is the current ratio ?