quizz 2.5 - 1. The TNT Company has five plants nationwide...

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1. The TNT Company has five plants nationwide that cost $300 million. The current market value of the plants is $500 million. The plants will be reported as assets at A) $200 million. B) $800 million. C) $300 million. D) $500 million. Points Earned: 5.0/5.0 Correct Answer(s): C 2. On a classified balance sheet, companies usually list current assets A) in alphabetical order. B) with the largest dollar amounts first. C) in the order in which they are expected to be converted into cash. D) in the order of acquisition. Points Earned: 5.0/5.0 Correct Answer(s): C 3. The going concern assumption underlies the A) cost principle. B) monetary unit assumption. C) time period assumption. D) full disclosure principle. Points Earned: 5.0/5.0 Correct Answer(s): A 4. The advantage of accounting information is that it provides exact and completely reliable measures. A) True B) False
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Points Earned: 5.0/5.0 Correct Answer(s): False 5. The three ways that ratios can be expressed are A) as a percentage, a rate, and as a simple proportion. B) as a dollar amount, a rate, and as a proportion.
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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 2.5 - 1. The TNT Company has five plants nationwide...

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