A frozen yogurt business has current assets of 25000 and current liabilities of

A frozen yogurt business has current assets of 25000

This preview shows page 6 - 7 out of 7 pages.

36.A frozen yogurt business has current assets of $25,000 and current liabilities of $10,000. Its current ratio isa.4:1.b.3:1.c.2.5:1.d.0.3:1.37.Which enhancing qualities of useful financial information are similar in that they both require the use of the sameaccounting principles and methods?38.Milton Tech holds a number of government securities. $12,000 of these securities have a one-year maturity date,while $7,000 have a 2-year maturity date. Milton prepares a classified balance sheet using an 18-monthoperating cycle. How should these securities be classified?39.In 2017, Cooke Corporation had cash receipts of $46,000 and cash disbursements of $22,000. Cooke's ending cashbalance at December 31, 2017, was $78,000. What was Cooke's beginning cash balance?40.A company that is concerned with identifying circumstances or events that have materiality and including therelevant information in their financial documents will be successful at complying with which principle in financialreporting?a.faithful representation principleb.fair value principlec.cost constraint principled.full disclosure principle41.Property, plant, and equipment of Barnes Corp includes computer equipments. The equipment hasaccumulated $2,000 in depreciation since purchase. How should Barnes reflect this on its classified balancesheet?MGMT 30AORION QUESTIONS |PAGE 6/7
Background image
MGMT 30AOrion Practice Questions42.In 2017, Rigby Construction had net income $32,000; net sales $200,000; and average share outstanding12,000. There were no preferred dividends. What was the company's 2017 earnings per share?MGMT 30AORION QUESTIONS |PAGE 7/7
Background image

  • Left Quote Icon

    Student Picture

  • Left Quote Icon

    Student Picture

  • Left Quote Icon

    Student Picture