ACCU201_Quiz5 - ACCU201-Introduction to Financial...

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ACCU201-Introduction to Financial Accounting Quiz 5 DUE ON FEBRUARY 29, 2008 Student: _________________________________Section: Grade: MULTIPLE CHOICE QUESTIONS (5 points each) 1. In 2003, Delta Air Lines had a fixed asset turnover of 0.80 compared to United Airlines of 0.85. What is the most likely cause of United's higher ratio? A. United is less efficient in generating net sales from its operational assets. B. United is more efficient at generating net income from employing its operational assets. C. United is able to generate greater sales from its operational assets. D. United is able to generate less net income from its operational assets. 2. In 2003, Landry's Restaurants' sales were $1,105.8 million and their property and equipment assets were $965.6 million. In 2002, their sales were $746.6 million and property and equipment was $830.9 million. Landry's fixed asset turnover ratio in 2003 equals A. 1.66 B. 1.23 C. 1.02 D. None of the above. 3. Which of the following should be included in the acquisition cost of land?
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This note was uploaded on 04/07/2008 for the course ACC AACCU201 taught by Professor Demirkan during the Spring '08 term at Northeastern.

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ACCU201_Quiz5 - ACCU201-Introduction to Financial...

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