A200 Ch1 Quiz Version H 1 Which of the following is NOT a correct statement of the accounting equation a b c d Assets Liabilities Equity Assets Equity Liabilities Assets Liabilities Equity Equity Assets Liabilities 2 Shoe Company reports the following balances in selected accounts at the end of March Accounts Receivable Fees Earned Wages Payable Wages Expense 6 000 9 000 5 000 2 000 What is Shoe Company s net income for March a 2 000 b 7 000 c 13 000 d 8 000 3 Which of the following is a capital market stakeholder of Rune Company a b c d a business that supplies resources to Rune Company a bank that lends money to Rune Company a business manager of Rune Company an agency that regulates the activities of Rune Company A200 Ch1 Quiz Version H Answer Section 1 A 2 B 3 B
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