ACCT 504 FINAL EXAM
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Week 8 : Final Exam - Final Exam
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1.(TCO A) A corporation has which of the following sets of characteristics?(Points : 5)
Shared control, tax advantages, increased skills, and resources
Simple to set up and maintains control with the founder
Easier to transfer ownership and raise funds, no personal liability for stockholders
Harder to raise funds and gives owner control
2.(TCO A) The Dividends account _____.(Points : 5)
is increased with a debit
is decreased with a credit
is not an expense account
All of the above
3.(TCOs A, B) Below is a partial list of account balances forDenton Company:
Cash 7,000
Prepaid insurance 700
Accounts receivable...
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