Final Exam - POBMF

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On a paystub, what does "YTD" stand for?

• Yearly Tax Deduction
• Year To Date
• Yesterday's Total Deposit
• Yearly Time Duration

Which of these is NOT typically found on a paystub?

• Gross Pay
• Social Security deductions
• Stock Market Prices
• Federal Tax Withholding

On an income statement, revenue minus expenses equals:

• Assets
• Liabilities
• Net Income
• Gross Profit

What is the basic accounting equation?

• Assets = Liabilities + Owner's Equity
• Assets = Liabilities - Owner's Equity
• Assets + Liabilities = Owner's Equity
• Assets - Owner's Equity = Liabilities

If you own 100 shares of a company's stock at $10 per share, what is your total investment?

• $100
• $1,000
• $10,000
• $1

On an income statement, what comes first?

• Net Income
• Revenue
• Expenses
• Operating Income

What does "FICA" on your paystub represent?

• Federal Income Credit Amount
• Federal Insurance Contributions Act
• Financial Income Credit Assessment
• Federal Internal Credit Account

A company has assets of $110,000.00 and liabilities of $75,100.00. What is the owner's equity?

• $185,100.00
• $39,100.00
• $39,400.00
• $34,900.00