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NEW QUESTION: 1
Over a given year, a firm's total assets increased by $7,000 and total liabilities decreased by $4,000. If the firm did not issue any new equity and paid out $1,500 in dividends, then its net income during the year was
________.
A. $4,500
B. $12,500
C. $1,500
D. $9,500
Answer: B
Explanation:
Explanation/Reference:
Explanation:
Total assets - Total liabilities = Equity. Hence,
Change in Assets - Change in Liabilities = Change in Equity.
Thus, change in equity = 7,000-(-4,000) = $11,000
All of the net income not paid out as dividends goes into increasing the equity. Since no new shares were issued, Net Income = change in equity + dividends paid. This gives net income = $11,000+$1,500
$12,500.
NEW QUESTION: 2
Before you can pay or create accounting entries for an invoice, the Invoice Validation process must validate the invoice. After this process is run, there is data that cannot be updated, modified, or changed. Choose three data fields that cannot be updated, modified, or changed after the Invoice Validation process has run and this invoice has a prepayment applied to it. (Choose three.)
A. invoice date
B. invoice description
C. supplier site
D. trading partner
E. supplier number
Answer: A,D,E
NEW QUESTION: 3
What are the three types of LANZ updates?
A. Start, Update, and Stop
B. Begin, Update, and Stop
C. Start, Update, and End
D. Begin, Update, and End
Answer: C
Explanation:
LANZ operates by setting threshold values on the interface and global buffer pools and then generates records for the start and end events causing those threshold values to be exceeded. Update records are also generated when buffer use exceeds those thresholds for a prolonged period of time.
NEW QUESTION: 4
A. Option A
B. Option C
C. Option D
D. Option B
Answer: D