business test results - that have been acquired with...

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Correct Question: A method of accounting in which income or expenses are recorded at the time they are incurred, rather than when they are paid, is called Your Answer: Accrual basis Correct Question: Calculations that compare the important financial aspects of a business are called Your Answer: Financial ratios Correct Question: Tracking and forecasting ___________ is often more critical to the survival of a business than is profit. Your Answer: Cash flows Incorrect Question: The financial record that summarizes the income and expenses of the business over time is the Your Answer: Statement of cash flows Correct Question: Which of the following ratios measures the proportion of a firm's total assets
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Unformatted text preview: that have been acquired with borrowed funds? Your Answer: Debt ratio Correct Question: All but which of the following sections would be found on an income statement? Your Answer: Investment activities Correct Question: In the accounting equation, Assets = Liabilities + Your Answer: Equity Correct Question: Most of the mismanagement decisions that cause small businesses to fail are related to Your Answer: Finance Correct Question: The goal of good cash-flow management is to Your Answer: Have enough cash on hand when it is needed Correct Question: High average collection periods usually indicate Your Answer: Many uncollected accounts receivable...
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This note was uploaded on 05/04/2011 for the course BUS 222 taught by Professor Basford during the Spring '11 term at Coastline Community College.

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