Quiz Chapter 3.docx - Quiz Chapter 3 1 The balance sheet...

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Quiz Chapter 31.The balance sheet reports a company's financial position at a point in time.
2.Accrued salaries and wages in a balance sheet represent salaries and wages that have been earned by employees but not yet paid.
3.An asset that is generallynotexpected to be converted to cash or consumed within one year or the operating cycle is:
4.Rent collected in advance is:
5.The Management’s Discussion and Analysis section of the annual report can best be described as:
6.An omission in the notes to the financial statements that is so serious that even a qualified opinion: is not justified would result in:
7.Liquidity refers to:
8.The quick ratio is:

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