FinMan10e_ATest_ch15

FinMan10e_ATest_ch15 - 10th Edition FINANCIAL&...

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Unformatted text preview: 10th Edition FINANCIAL & MANAGERIAL ACCOUNTING CORPORATE FINANCIAL ACCOUNTING Warren/Reeve/Duchac Chapter Test 15A Score % Name Course Section NOTE: Each of the 25 correct answers is assigned a weight of 4%. A TEST 15A (Concluded) FILL-IN-THE-BLANK—PRINCIPLES AND TERMINOLOGY—STATEMENT ANALYSIS—60% INSTRUCTIONS: Complete each of the following statements by writing the appropriate words or amounts in the Answers column. For Scoring STATEMENTS Answers 0. The percent of current assets to total assets is an example of (type of analysis) ............................................................................................. vertical analysis 0. ____ 1. The net income was $10 per common share for 2009. At the beginning of 2010, the number of shares outstanding was increased because of a 3-for-1 stock split. The earnings per share for 2009, adjusted to place it on a comparable basis with 2010, is ...................... $ 1. ____ 2–3. A company with working capital of $750,000 and a current ratio of 2 pays a $50,000 short-term liability. 2. The amount of working capital immediately after the payment is ......... $ 2. ____ 3. The current ratio immediately after the payment is ............................... 3. ____ 4. If the quick ratio is 1.0, the receipt of cash from the sale of marketable securities at their book value will cause the ratio to (increase, decrease, or not be affected) ................................................................. 4. ____ 5–6. Three types of retail businesses are being compared: (a) jewelry TEST 15A (Concluded) store, (b) bookstore, and (c) grocery supermarket. 5. The type with the highest inventory turnover is most likely to be the .... 5. ____ 6. The type with the lowest rate of gross profit is most likely to be the ..... 6. ____ 7. A financial statement in which all items are expressed as percentages is called a(n) ______________ statement. ........................................... 7. ____ 8. The ability of a business to meet its financial obligations is called ........ 8. ____ 9. The sum of cash, receivables, and marketable securities is sometimes called ................................................................................... 9. ____ 10. The difference between the rate earned on stockholders’ equity compared to the rate earned on total assets is sometimes referred to...
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This note was uploaded on 07/17/2011 for the course ACCT 102 taught by Professor Martinez during the Summer '11 term at Rio Hondo College.

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FinMan10e_ATest_ch15 - 10th Edition FINANCIAL&...

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