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ACCT 1201 - Midterm Study Guide
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ACCT 1201 Financial Accounting Fall 2014 Exam #1 Practice Test 1. United Airlines is an example of a: a. producer. b. supplier. c. retailer. d. service provider. ANSWER: d 2. All of the fol... lowing are examples of retailers except: a. Sports Authority. b. Boeing. c. Home Depot. d. Best Buy. ANSWER: b 3. The three forms of business entities are: a. Government, cooperatives, and philanthropic organizations. b. Financing, investing, and operating. c. Sole proprietorships, partnerships, and corporations. d. Wholesaler, manufacturer, and retailer. ANSWER: c 4. Which of the following invests funds into a business and is considered an owner? a. Stockholders b. Creditors c. Bankers d. Lenders ANSWER: a 5. You are a potential stockholder and are concerned that a particular company you are ready to invest in might have too much debt. Which financial statement would provide you information needed in order to evaluate your concern? [Show More]
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