Tiêu đề FINAL-MOCK-TEST-BBUS.pdf ✅

FINAL MOCK TEST (TIME: 150 MINS) PART A: MCQS (40 points) 1. The Dulce Company has five plants nationwide that cost a total of $200 million. The current fair value of the plants is $600 million. The plants will berecorded and reported as assets at A. $200 million. B. $600 million. C. $400 million. D. $800 million. 2. If total liabilities decreased by $40,000 and owner’s equity decreased by $30,000 during a period of time, then total assets must change by what amount and direction during that same period? A. $70,000 decrease B. $10,000 decrease C. $10,000 increase D. $70,000 increase 3. Eli’s Electronic Repair Shop started the year with total assets of $300,000 and total liabilities of $200,000. During the year, the business recorded $400,000 in electronic repair revenues, $300,000 in expenses, and Eli withdrew $50,000. The net income reported by Eli's Electronic Repair Shop for the year was Letty Company began the year with owner’s equity of $105,000. During the year, Letty received additional owner investments of $147,000, recorded expenses of $420,000, and had owner drawings of $28,000. If Letty’s ending owner’s equity was $290,000, what was the company’s revenue for the year? A. $458,000. B. $486,000. C. $468,000.