GB 518 RANK Career Path Begins/gb518rank.com GB 518 RANK Career Path Begins/gb518rank.com | Página 11

Sales Salaries Payable
Dividends
Sales Salaries Expense
Question 8. Question :
The primary objective of
financial accounting is:
To serve the decision-making needs of internal users
To provide financial statements to help external users analyze
and interpret an organization's activities
To monitor and control company activities
To provide information on both the costs and benefits of
managing products and services
To know what, when and how much to produce
Question 9. Question :
The debt ratio is used:
To measure the amount of equity relative to the expenses
To reflect the risk associated with a company's debts
Only by banks when a business applies for a loan
To determine how much debt a firm should pay off
Question 10. Question :
The principle that (1) requires
revenue to be recognized at the time it is earned, (2) allows the
inflow of assets associated with revenue to be in a form other
than cash and (3) measures the amount of revenue as the cash
plus the cash equivalent value of any non-cash assets received
from customers in exchange for goods or services is called the:
Going-concern principle
Cost principle
Revenue recognition principle
Objectivity principle
Business entity principle
Question 11. Question :
Creditors' claims on the assets of
a company are called:
Net losses