Finance And Accounting

Question: Which of the following approaches does the Financial Accounting Standards Board follow in establishing generally accepted accounting principles?
A
An approach that ensures that financial reports conform to income tax reports

B
A deductive theory-based approach

C
A political lobbying approach, which selects accounting methods favored by those involved with financial accounting reports

D
Both b and c

Note: Answer not sure
1. Report
Question: A ______________ involves comparing a given firm's ratios with those of other firms for a particular period.
A
Time Sensitive Analysis

B
Profit Margin Analysis

C
Return on Assets Analysis

D
Cross-Section Analysis

Note: Answer not sure
1. Report
Question: The ______________ is computed by dividing cash flow from operations by average current liabilities.
A
Debt Equity Ratio

B
Cash Flow from Operations to Current Liabilities Ratio

C
Current Ratio

D
Quick Ratio

Note: Answer not sure
1. Report
Question: Which of the following ratios assesses the firm's operating performance independently of financing decisions?
A
Rate of Return on Assets

B
Inventory Turnover

C
Profit Ratio

D
Net Income

Note: Answer not sure
1. Report
Question: The ______________ is a private sector group that has been given the responsibility of establishing acceptable accounting standards in the United States.
A
IASC

B
SEC

C
GAAP

D
FASB

Note: Answer not sure
1. Report
Question: The primary source of cash for most firms should be _______________.
A
operating activities

B
contributed capital

C
assets

D
financing activities

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: 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

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Question: Which of the following approaches does the Financial Accounting Standards Board follow in establishing generally accepted accounting principles?

Question: A ______________ involves comparing a given firm's ratios with those of other firms for a particular period.

Question: The ______________ is computed by dividing cash flow from operations by average current liabilities.

Question: Which of the following ratios assesses the firm's operating performance independently of financing decisions?

Question: The ______________ is a private sector group that has been given the responsibility of establishing acceptable accounting standards in the United States.

Question: The primary source of cash for most firms should be _______________.

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?