Review Test Submission 4.docx

Review Test Submission 4.docx - Review Test Submission Test...

• Lesson Plan
• 20
• 100% (2) 2 out of 2 people found this document helpful

This preview shows pages 1–4. Sign up to view the full content.

Review Test Submission: Test Four Content User BRUCE COOPERJR Course 201620-Prin of Financial Accounting-22811 Test Test Four Started 4/13/16 12:40 PM Submitted 4/13/16 3:37 PM Status Completed Attempt Score 82 out of 100 points Time Elapsed 2 hours, 57 minutes out of 3 hours Results Displayed All Answers, Submitted Answers, Correct Answers, Feedback Question 1 2 out of 2 points Restrictions on retained earnings ________. Selected Answer: are usually reported in the notes to the financial statements Answers: are reported on the cash flow statement. are usually reported in the notes to the financial statements are reported on the income statement are designed to maximize dividends paid to shareholders Question 2 2 out of 2 points Which of the following statements is true? Selected Answer: The indirect method begins with net income and adjusts it to net operating cash flows. Answers: The indirect method includes all non-cash activities, whereas the direct method includes only the cash activities. The indirect method and the direct method will produce a different amount of net cash flow from investing activities. The indirect method begins with net income and adjusts it to net operating cash flows. The direct and indirect methods include different types of cash flows in the investing activities section.

This preview has intentionally blurred sections. Sign up to view the full version.

Peartree Inc. provides the following extracts from income statement for the year 2015: Net sales \$500,000 Cost of Goods Sold (150,000) Gross profit \$350,000 Calculate the gross profit percentage. Selected Answer: 70% Answers: 55% 69% 75% 70% Response Feedback: Net Sales \$500,000 Cost of Goods Sold (150,000) Gross profit \$350,000 Gross profit percentage* 70% Gross profit percentage = Gross profit ÷ Net sales × 100 Question 7 2 out of 2 points The price/earnings ratio indicates the ________.

This preview has intentionally blurred sections. Sign up to view the full version.

This is the end of the preview. Sign up to access the rest of the document.

{[ snackBarMessage ]}

What students are saying

• As a current student on this bumpy collegiate pathway, I stumbled upon Course Hero, where I can find study resources for nearly all my courses, get online help from tutors 24/7, and even share my old projects, papers, and lecture notes with other students.

Kiran Temple University Fox School of Business ‘17, Course Hero Intern

• I cannot even describe how much Course Hero helped me this summer. It’s truly become something I can always rely on and help me. In the end, I was not only able to survive summer classes, but I was able to thrive thanks to Course Hero.

Dana University of Pennsylvania ‘17, Course Hero Intern

• The ability to access any university’s resources through Course Hero proved invaluable in my case. I was behind on Tulane coursework and actually used UCLA’s materials to help me move forward and get everything together on time.

Jill Tulane University ‘16, Course Hero Intern