ACC 561 Final Exam

Feb 3rd, 2012
Studypool Tutor
University of Phoenix
Course: Business and Management
Price: $15 USD

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This is a screenshot of the multiple choice final exam. There are 30 questions and answers for accounting 561 exam which was taken at the UOP. Question 1 Which of the following is an advantage of corporations relative to partnerships and sole proprietorships? Reduced legal liability for investors. Most common form of organization. Harder to transfer ownership. Lower taxes. Question 2 Your answer is correct. The group of users of accounting information charged with achieving the goals of the business is its auditors. managers. investors. creditors. Question 3 Your answer is correct. Which of the following financial statements is concerned with the company at a point in time? Retained Earnings statement. Statement of cash flows. Balance sheet. Income statement. Question 4 Your answer is correct. An income statement

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