Reference no: EM132544795

Question 1. An end-of-period adjusting entry that debits Unearned Revenue will most likely credit which of the following?

a) A revenue

b) An asset

c) An expense

d) A liability

Question 2. The principal amount payable by the issuer of a bond is also known as

a) Accounts Receivable

b) Accounts Payable

c) Maturity Value

d) Principal expense

Question 3. The contributed capital portion of shareholders' equity does not include

a) preferred shares.

b) contributed surplus.

c) retained earnings.

d) common shares

Question 4. Preferred shares are least likely to have which of the following characteristics?

a) Preference as to assets on liquidation of the corporation

b) Extra liability for the preferred shareholders

c) The right of the holder to convert to common shares

d) Preference as to dividend

Question 5. Shareholders are eligible for a dividend if they own the shares on the date of

a) declaration.

b) record.

c) payment.

d) issuance