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- Quiz Question 1 of 7
Which of the following lines is not affected when Revenue changes?
ExplanationExplanationChoose the best answer below: - Quiz Question 2 of 7
Which of the following formulas is correct:
ExplanationExplanationChoose the best answer below: - Quiz Question 3 of 7
Company A has a Retained Earnings balance of $300 million on 12/31/2019. From 01/01/2020 through 12/31/2020, Company A earned $100 million of Net Income and declared to pay $70 million of dividends for the year. What’s Company A’s Retained Earnings balance on 12/31/2020?
ExplanationExplanationChoose the best answer below: - Quiz Question 4 of 7
Company B has a PP&E balance of $170 million on 12/31/2019. From 01/01/2020 through 12/31/2020, Company B spent $30 million on Capital Expenditures and incurred $20 million in Depreciation. During this period, it also sold some of its assets for $40 million of cash and recorded $5 million of Gain on Sale of Assets. Assuming no other changes, what’s Company B’s PP&E balance on 12/31/2020?
ExplanationExplanationChoose the best answer below: - Quiz Question 5 of 7
When you think through the impact a commercial activity has on the three financial statement, in what order should you think through each statement?
ExplanationExplanationChoose the best answer below: - Quiz Question 6 of 7
Regardless of the type of change to the financial statements, the Balance Sheet must always balance.
ExplanationExplanationChoose the best answer below: - Quiz Question 7 of 7
Does cash flow change when D&A, which is a non-cash expense, changes?
ExplanationExplanationChoose the best answer below:
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