1. Indicate which financial statement(s) "Notes Payable" would appear on: (may be more than one)

   	a.	Retained Earnings Statement
   	b.	Balance Sheet - Asset Section
   	c.	Income Statement
   	d.	Balance Sheet - Liability Section

2. An external user of financial accounting information is:

   	a.	A Boards of Directors
   	b.	A Creditor
   	c.	A Chief Executive Officer (CEO)
   	d.	A Business unit manager

3. The collection of accounts receivable is recorded by a:

   	a.	Debit to Cash and a debit to Accounts Receivable
   	b.	Credit to Cash and a credit to Accounts Receivable
   	c.	Debit to Cash and a credit to Accounts Receivable
   	d.	Credit to Cash and a debit to Accounts Receivable

4. Indicate which financial statement(s) "Retained Earnings" would appear on: (may be more than one)

   	a.	Retained Earnings Statement
   	b.	Balance Sheet
   	c.	Income Statement
   	d.	Cashflow Statement

5. Select the correct Journal entry for the following transaction: Swiss Corporation bought $8000 of supplies on credit

   	a.	db. Accounts Receivable $8,000 ......cr Supplies $8,000
   	b.	db. Accounts Payable $8,000 ....cr. Supplies $8,000
   	c.	db. Supplies $8,000 ....cr. Accounts Receivable $8,000
   	d.	db. Supplies $8,000 ....cr. Accounts Payable $8,000