ACCTG201 CH1-3 Review

True or False.

Accounting can be defined as the language of business

• True

• False

True or False.

Accounting can be defined as a measurement/communication process.

• True

• False

True or False.

Accounting can be defined as a mathematics course.

• True

• False

Select the business activity that corresponds to the transaction.

Transaction: Borrow from the bank

• Operating

• Investing

• Financing

Select the business activity that corresponds to the transaction.

Transaction: Provide services to customers

• Operating

• Investing

• Financing

Select the business activity that corresponds to the transaction.

Transaction: Issue common stock to investors

• Operating

• Investing

• Financing

Select the business activity that corresponds to the transaction.

Transaction: Purchase land

• Operating

• Investing

• Financing

Select the business activity that corresponds to the transaction.

Transaction: Pay rent for the current period

• Operating

• Investing

• Financing

Select the business activity that corresponds to the transaction.

Transaction: Pay dividends to stockholders

• Operating

• Investing

• Financing

Select the business activity that corresponds to the transaction.

Transaction: Purchase building

• Operating

• Investing

• Financing