Finance And Accounting

Question: Which of the following equations is incorrect?
A
Shareholders' Equity = Contributed Capital + Retained Earnings

B
Revenues - Expenses = Net Income

C
Assets = Liabilities + Equity

D
All of these equations are correct.

Note: Answer not sure
1. Report
Question: The ____________ is the financial statement that presents an overall view of a company's financial position as of a given date.
A
Balance Sheet

B
Income Statement

C
Cash Flow Statement

D
Retained Earnings Statement

Note: Answer not sure
1. Report
Question: Which of the following would not appear on a Balance Sheet?
A
Retained Earnings

B
Bonds Payable

C
Cost of Goods Sold

D
Accounts Receivable

Note: Answer not sure
1. Report
Question: The ____________ is an agency of the federal government and has the legal authority to set acceptable accounting standards in the United States.
A
IASC

B
SEC

C
GAAP

D
FASB

Note: Answer not sure
1. Report
Question: Which of the following ratios indicates the proportion of a firm's long-term capital that is provided by creditors?
A
Return on Equity

B
Long-Term Debt Ratio

C
Return on Assets

D
Quick Ratio

Note: Answer not sure
1. Report
Question: The ________________ indicates the length of the period between the purchase of inventory on account and the payment of cash to suppliers.
A
Accounts Receivable Turnover Ratio

B
Inventory Turnover

C
Net Profit

D
Accounts Payable Turnover Ratio

Note: Answer not sure
1. Report
Question: In computing the quick ratio, which of the following items is customarily excluded from the numerator?
A
Cash

B
Inventory

C
Marketable Securities

D
Accounts Receivable

Note: Answer not sure
1. Report
Question: Which of the following terms refers to the "nearness of cash" of a firm's assets?
A
Liquidity

B
Marketability

C
Turnover

D
Net Income

Note: Answer not sure
1. Report
Question: The ______________ is a useful measure for assessing a firm's performance in using assets to generate earnings.
A
Profit Margin Ratio

B
Financial Leverage

C
Rate of Return on Assets

D
Working Capital

Note: Answer not sure
1. Report
Question: Which of the following can be described as "claims on resources that result from benefits previously received by the company, and which require that a specified amount be paid on a specified date"?
A
Shareholders' Equity

B
Contributed Capital

C
Liabilities

D
Retained Earnings

Note: Answer not sure
1. Report

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Question: Which of the following equations is incorrect?

Question: The ____________ is the financial statement that presents an overall view of a company's financial position as of a given date.

Question: Which of the following would not appear on a Balance Sheet?

Question: The ____________ is an agency of the federal government and has the legal authority to set acceptable accounting standards in the United States.

Question: Which of the following ratios indicates the proportion of a firm's long-term capital that is provided by creditors?

Question: The ________________ indicates the length of the period between the purchase of inventory on account and the payment of cash to suppliers.

Question: In computing the quick ratio, which of the following items is customarily excluded from the numerator?

Question: Which of the following terms refers to the "nearness of cash" of a firm's assets?

Question: The ______________ is a useful measure for assessing a firm's performance in using assets to generate earnings.

Question: Which of the following can be described as "claims on resources that result from benefits previously received by the company, and which require that a specified amount be paid on a specified date"?