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Author Question: Diana, a forensic accountant, obtained the financial statements of Ryer Inc. from its accountant. ... (Read 226 times)

burton19126

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on: Jul 6, 2018
Diana, a forensic accountant, obtained the financial statements of Ryer Inc. from its accountant. She noted that Ryer generated a profit of 152.7 million in the previous year. This is an example of
 
  A) third-party data.
  B) quantitative data.
  C) fourth-party data.
  D) qualitative data.

Question 2

Bendada deposited 25,000 in a bank account in the name of the business. Which of the following is true in regards to the fundamental accounting equation?
 a. Assets increase by 25,000.
  b. Liabilities increase by 25,000.
  c. Assets decrease by 25,000.
  d. Owner's Equity decreases by 25,000.
  e. Liabilities decrease by 25,000.


diana chang

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Reply #1 on: Jul 6, 2018
Answer to Question 1

B
Explanation: B) Quantitative data can be measured and expressed numerically, such as profit, weight, time, and age.

Answer to Question 2

A


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