Financial Statement, Finance And Accounting

Question: The ____________ is the excess of expenses over revenue for a given period.
A
Net Profit

B
Assets

C
Equity

D
Net Loss

Note: Answer not sure
1. Report
Question: XYZ Company sells on credit with terms of Net 30 days. If the company's credit policy and collection activity are working efficiently, how many times should the company's Accounts Receivable turn in a year?
A
6 times

B
8 times

C
10 times

D
12 times

Note: Answer not sure
1. Report
Question: The ____________ is the excess of expenses over revenue for a given period.
A
Net Profit

B
Assets

C
Equity

D
Net Loss

Note: Answer not sure
1. Report
Question: Which of the following terms refers to the practice of using debt and preferred stock for financing in order to increase the return to the common shareholders' equity?
A
Equity

B
Asset Turnover

C
Liabilities

D
Financial Leverage

Note: Answer not sure
1. Report
Question: Which of the following organizations, despite the fact that it has no legal authority, has played a role in developing acceptable accounting principles worldwide?
A
IASC

B
SEC

C
GAAP

D
FASB

Note: Answer not sure
1. Report
Question: XYZ Company reports total assets and total shareholders' eQuity of $375,000 and $220,000, respectively, at the end of its first year of business. The company reported earnings of $100,000 and distributed $40,000 in dividends during its first year. Also during the year, the company issued additional shares of stock for $75,000. What are the firm's liabilities at year end and the firm's contributed capital at the beginning of the year, respectively?
A
$75,000 and $115,000

B
$80,000 and $160,000

C
$155,000 and $85,000

D
$155,000 and $45,000

Note: Answer not sure
1. Report
Question: A __________________ involves comparing the changes in a firm's ratios over a multiple-year period.
A
Draft Analysis

B
Time-Series Analysis

C
Profit Margin Analysis

D
Net Income Analysis

Note: Answer not sure
1. Report
Question: Economic resources that have the potential or ability to provide future services or benefits to the firm are called _________________.
A
cash

B
liabilities

C
assets

D
equity

Note: Answer not sure
1. Report
Question: Which of the following is NOT a current asset?
A
Cash

B
Land

C
Merchandise Inventory

D
Accounts Receivable

Note: Answer not sure
1. Report
Question: During the year, XYZ Company issued additional common stock. This transaction is an example of which of the following?
A
An investing activity

B
A financing activity

C
An operating activity

D
None of these

Note: Answer not sure
1. Report

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Question: The ____________ is the excess of expenses over revenue for a given period.

Question: XYZ Company sells on credit with terms of Net 30 days. If the company's credit policy and collection activity are working efficiently, how many times should the company's Accounts Receivable turn in a year?

Question: The ____________ is the excess of expenses over revenue for a given period.

Question: Which of the following terms refers to the practice of using debt and preferred stock for financing in order to increase the return to the common shareholders' equity?

Question: Which of the following organizations, despite the fact that it has no legal authority, has played a role in developing acceptable accounting principles worldwide?

Question: A __________________ involves comparing the changes in a firm's ratios over a multiple-year period.

Question: Economic resources that have the potential or ability to provide future services or benefits to the firm are called _________________.

Question: Which of the following is NOT a current asset?

Question: During the year, XYZ Company issued additional common stock. This transaction is an example of which of the following?