1
2
Question out of 2 points
Net working capital is defined as:
Answer
Selected Answer:
current assets minus current liabilities.
Question 2
2 out of 2 points
A firm has $300 in inventory, $600 in fixed assets, $200 in accounts receivables,
$100 in accounts payable, and $50 in cash. What is the amount of the current
assets?
Answer
Selected Answer:
$550
Question 3
2 out of 2 points
The total assets are $900, the fixed assets are $600, long-term debt is $500, and
short-term debt is $200. What is the amount of net working capital?
Answer
Selected Answer:
$100
Question 4
2 out of 2 points
A current asset is:
Answer
Selected
Answer:
an item currently owned by the firm that will convert to cash
within the next 12 months.
Question 5
2 out of 2 points
Art's Boutique has sales of $640,000 and costs of $480,000. Interest expense is
$40,000 and depreciation is $60,000. The tax rate is 34%. What is the net income?
Answer
Selected Answer:
$39,600
Question out 6
2 of 2 points
Given the tax rates as shown, what is the average tax rate for a firm with taxable
income of $126,500?
Answer
Selected Answer:
25.76%
Question 7
2 out of 2 points
At the beginning of the year, a firm has current assets of $380 and current
liabilities of $210. At the end of the year, the current assets are $410 and the
current liabilities are $250. What is the change in net working capital?
Answer
Selected Answer:
-$10
Question 8
2 out of 2 points
The financial statement summarizing a firm's accounting performance over a
period of time is the:
Answer
Selected Answer:
income statement.
Question 9
2 out of 2 points
Which equality is the basis for the balance sheet?
Answer
Selected Answer:
Assets = Liabilities + Stockholder's Equity
Question 10
2 out of 2 points
The financial statement showing a firm's accounting value on a particular date is
the:
Answer
Selected Answer:
balance
sheet.
Thursday, February 2, 2012 12:07:02 AM CST