GB 518 Quiz 1
GB518 Financial Accounting Principles and Analysis
Question :
If equity is $300,000 and liabilities are
$192,000, then assets equal:
Question 2. Question :
If assets are $99,000 and
liabilities are $32,000, then equity equals:
Question 3. Question :
Reebok had income of $150
million and average assets of $1,800 million. Its return on
assets is:
Question 4.
Question :
Unearned revenues are:
Revenues that have been earned and received
in cash
Revenues that have been earned but
not yet collected in cash
Liabilities created when a customer
pays in advance for products or services before the revenue is
earned
Recorded as an asset in the accounting
records
Increases to retained earnings
Question 5.
Question :
Technological advancement