(TCO 1) The SEC issues accounting standards in the form of
accounting research bulletins.
financial reporting releases.
financial accounting standards.
financial technical bulletins.
Question 2. Question :
(TCO 2) Enhancing qualitative characteristics of accounting information include each of the following, except
Question 3. Question :
(TCO 3) Hughes Aircraft sold a four-passenger airplane for $380,000, receiving a $50,000 down payment and a 12% note for the balance. The journal entry to record this sale would include a
credit to cash.
debit to cash discount.
debit to note receivable.
credit to note receivable.
Question 4. Question :
(TCO 3) When a tenant makes an end-of-period adjusting entry credit to the prepaid rent account
he or she usually debits cash.
he or she usually debits an expense account.
he or she debits a liability account.
he or she does none of the above.
Question 5. Question :
(TCO 3) Permanent accounts would not include