STRAYER ACCT 557 QUIZZES Wk 2 Quiz Chap 1The first step in solving an ethical dilemma is to…

STRAYER ACCT 557 QUIZZESWK 2Wk 2 Quiz Chap 11. The first step in solving an ethical dilemma is to2. If the retained earnings account increases from the beginning of the year to the end of the year, then3. If total liabilities increased by $15,000 and stockholders’ equity increased by $10,000 during a period of time, then total assets must change by what amount and direction during that same period?4. If total liabilities increased by $17,000 during a period of time and stockholders’ equity decreased by $6,000 during the same period, then the amount and direction (increase or decrease) of the period’s change in total assets is a(n)5. If total liabilities decreased by $15,000 and stockholders’ equity increased by $10,000 during a period of time, then total assets must change by what amount and direction during that same period?6. The process of recording transactions has become more efficient because7. The primary accounting standard-setting body in the United States is the8. Black Keys Company began the year with stockholders’ equity of $185,000. During the year, the company recorded revenues of $250,000, expenses of $190,000, and paid dividends of $20,000. What was Black Keys’ stockholders’ equity at the end of the year?9. Owner’s equity is best depicted by the following:10. The first part of the accounting process is11. All of the following are steps in analyzing ethics cases in financial reporting except12. The common characteristic possessed by all assets is13. An income statement14. The origins of accounting are generally attributed to the work of.15. The United States and the international standard-setting environment are primarily driven by meeting the needs of