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From the following data for Zen Industries, calculate the quick ratio. Amount Cash $   66,500 Accounts receivable 120,000 Inventories 210,000 Prepaid expenses      25,000 Total current assets $ 421,500 Less current liabilities   (270,000) Working capital $ 151,500

Use the following information to determine Total Stockholders’ Equity. Amount Total Assets $ 95,000 Total Liabilities    22,000 Total Stockholders’ Equity              x Total Retained Earnings     8,000

_____ are an example of internal stakeholders.

Debts owed by a business are referred to as _____.

Which of the following is an accrued expense?

A deferred expense is initially recorded as a(n) _____.

The accrual basis of accounting recognizes _____.

Revenues received from providing services are referred to as _____.

Cash collected from sales during the normal course of business would be an example of which type of business activity?

Which of the following is normally the result of cash being paid before the expense is incurred?