Q1

Given that the present values for the next four years are $100,000, $200,000, $300,000 and $400,000 respectively on an initial investment of $600,000, the total present value is $1,000,000. $400,000. $1,600,000. Cannot be determined.

Q2 The approach to preparing financial statements based on recognizing revenues when they are earned and matching expenses to those revenues is: Cash basis accounting. The matching principle. The time period assumption. Accrual basis accounting.

Q3 Given that a machine was purchased on credit for $100,000 in April with depreciation of $1,000 per month, what is the cash paid for the machine in April? $100,000. $1,000. $0. Cannot be determined.

Q4 Given that the cash sales for April is $100,000 and customers are given 30 days to pay for credit sales, what is the cash collected from this sales for May? $100,000. $10,000. $0. Cannot be determined.