quizz 2.2 - Submitted by Bui Linh(LINBUI on 11:18:53 PM...

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Submitted by Bui, Linh (LINBUI) on 6/19/2011 11:18:53 PM Points Awarded 25.00 Points Missed 75.00 Percentage 25.0% 1. The concept that a business has a reasonable expectation of remaining in business for the foreseeable future is called the A) economic entity assumption. B) monetary unit assumption. C) time period assumption. D) going concern assumption. Points Earned: 0.0/5.0 Correct Answer(s): D 2. If Morris Corporation has a negative $131 million free cash flow, which of the following statements is most likely true? A) Morris' capital expenditures plus its cash dividends are less than its cash provided by operations. B) This free cash flow indicates that Morris is in good shape to repay its long-term obligations when they come due. C) This free cash flow indicates that Morris presents good cash generating ability to retire stock. D) Morris' cash provided by operations is less than its cash dividends plus capital expenditures. Points Earned: 0.0/5.0 Correct Answer(s): D 3.
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Use the following data to determine the total dollar amount of assets to be classified as current assets. A) $270,000. B) $120,000. C) $190,000. D) $130,000. Points Earned: 0.0/5.0 Correct Answer(s): C 4. Which of the following is a constraint in accounting? A) Comparability
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This note was uploaded on 06/21/2011 for the course GOVT 1301 taught by Professor Capentor during the Spring '11 term at Cy-Fair College.

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quizz 2.2 - Submitted by Bui Linh(LINBUI on 11:18:53 PM...

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