The monetary contributions that the owners of IBM pay for shares of the company's stock are ____ resources for IBM.

a. material
b. financial
c. human
d. informational e. manufacturing

Patents and copyrights confer value on a firm but do not exist physically. Thus, they are identified as
a. fixed assets.
b. prepaid expenses.
c. intangible assets.
d. current assets. e. owners' equity.

In the state in which it is incorporated, a business is known as a(n)
a. foreign corporation
b. public corporation.
c.domestic corporation.
d.resident corporation
e.S-corporation.

Which of the following presents assets in the correct balance sheet order?
a. Accounts receivable, buildings, inventory, land
b. Buildings, prepaid expenses, inventory, equipment
c. Cash, inventory, equipment
d. Cash, land, accounts receivable, equipment
e. Marketable securities, equipment, prepaid insurance, inventory

1a

g

xD
f
ff

materiL

To answer these questions, we need to understand some basic concepts related to accounting and finance:

1. The monetary contributions that the owners of IBM pay for shares of the company's stock are ____ resources for IBM.

To answer this question, we need to identify the type of resource that these monetary contributions represent. In this case, the owners paying for shares of the company's stock refers to financial resources. Therefore, the correct answer is b. financial.

2. Patents and copyrights confer value on a firm but do not exist physically. Thus, they are identified as _____.

To answer this question, we need to determine how patents and copyrights are classified in financial statements. Since they do not have a physical existence, they are classified as intangible assets. Therefore, the correct answer is c. intangible assets.

3. In the state in which it is incorporated, a business is known as a(n) _______.

To answer this question, we need to identify the term used to refer to a business in the state where it is incorporated. When a business is incorporated in a specific state, it is called a domestic corporation. Therefore, the correct answer is c. domestic corporation.

4. Which of the following presents assets in the correct balance sheet order?

To answer this question, we need to identify the correct order in which assets are presented on a balance sheet. The correct order is typically from most liquid (easily convertible to cash) to least liquid. Based on the options provided, the correct answer is c. Cash, inventory, equipment.

Remember, to answer accounting and finance questions accurately, it is important to understand the underlying concepts and principles.