The U.S. federal government body that regulates the sale and listing of securities on U.S. financial markets is the:Answer | Selected Answer: | SEC | Correct Answer: | SEC | |
Question 2
2 out of 2 points | | | Corporate stockholders:Answer | | | | | Selected Answer: | can limit their liability to the amount of their investment | Correct Answer: | can limit their liability to the amount of their investment | | | | |
Question 3
2 out of 2 points | | | Generally accepted accounting principles are formulated by the:Answer | | | | | Selected Answer: | Financial Accounting Standards Board | Correct Answer: | Financial Accounting Standards Board | | | | |
Question 4
2 out of 2 points | | | Which one of the following financial statements conveys a relationship of equality between assets and liabilities plus owners’ equity?Answer | | | | | Selected Answer: | balance sheet | Correct Answer: | balance sheet | | | | |
Question 5
2 out of 2 points | | | Current liabilities would not include:Answer | | | | | Selected Answer: | bonds | Correct Answer: | bonds | | | | |
Question 6
0 out of 2 points | | | On the income statement, gross profit is defined as:Answer | | | | | Selected Answer: | operating profits minus operating expenses | Correct Answer: | sales revenue minus cost of goods sold | | | | |
Question 7
2 out of 2 points | | | Which of the following business organizations limit the liability of some or all of their owners to the extent of their investment in the company?Answer | | | | | Selected Answer: | corporations and limited partnerships | Correct Answer: | corporations and limited partnerships | | | | |
Question 8
2 out of 2 points | | | On the balance sheet,