Kaplan Univ ACC 499 Midterm Exam
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Kaplan Univ ACC 499 Midterm Exam Kaplan Univ ACC 499 Midterm Ex 1
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Question
1. Question : An entity that is organized according to state or federal statutes and in which ownership is divided into shares of stock is a
Student Answer: proprietorship.
corporation.
partnership.
governmental unit. A
2. Question : When a product is sold, this cost is often called
Student Answer: cost of goods sold.
revenue.
products.
retained earnings.
3. Question : Which of the following are business stakeholders?
Student Answer: Stockholders
Suppliers
Customers
All of these
4. Ques...
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Kaplan Univ ACC 499 Midterm Exam•Kaplan Univ ACC 499 Midterm Exam
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Question
1. Question : An entity that is organized according to state or federal statutes and in which ownership is divided into shares of stock is a
Student Answer: proprietorship.
corporation.
partnership.
governmental unit. A
2. Question : When a product is sold, this cost is often called
Student Answer: cost of goods sold.
revenue.
products.
retained earnings.
3. Question : Which of the following are business stakeholders?
Student Answer: Stockholders
Suppliers
Customers
All of these
4. Ques...