1. Prepare the Income Statement for the Mosby 2. Prepare the Statement of O RepirsService for the year ended 12/31/14. 12/3 1/14 wner's Equity for the Mosby Repair Service for the year 1/14(so . Prepare Points) the Balance sheet for the Mosby Repair Service for the year ended 12/3 lettr (S SECTION TWO: MULTIPLR-CHOICE QUESTIONS Put a circle around the most correct answer Points each). 1. One of the a. Labor Unions. Users of Finncial Statements with Direct Financial Interest is? d. Hospitals. None of the above answers is correct. t Buy Company has which of the following goods or services? e. 2. Bes a. Food Service b. c. Coffe and snack service.. d. Consumer electronics. Passenger air-line service. e. None of the above answers is correct. 3. One of the activities we have we have learned in Chapter 1 about the preparatio Statement of Cash Flows is? a. Drilling Activities. b. Liquidation corporate assets c. Computational Activities of Allowance for Doubtful Accounts d. Mineral Mining Activities.. None of the above answer is correct.. e. 4. Liquidity is really a. Determining insolvency in bankruptcy court proceedings b. The ability to have enough cash to pay debts when the debts are due. c. All of the above answers are correct answers. d. Advising on stock transfers about upcoming hostile takeovers or e. None of the above answers is correct. mergers of One of the organizations that issues accounting standards is? a. Bureau of Ethical Responsibilities (BE R). 5. Financial Accounting Standards Board.(FASB). Better Business Bureau(BBB) National Association of Securities Deale Association of College and University Professors/CPAS b. c. d. e