One problem with comparing financial ratios prepared by different reporting

One problem with comparing financial ratios prepared

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54. One problem with comparing financial ratios prepared by different reporting agencies is A. some agencies receive financial information later than others.B.agencies vary in their policies as to what is included in specific calculations.C. some agencies are careless in their reporting.D. some firms are more conservative in their accounting practices.E. none of the above.One problem with comparing financial ratios prepared by different reporting agencies is agencies vary in their policies as to what is included in specific calculations. Difficulty: Easy 55. One reason that capital markets are not truly global is Difficulty: Moderate 19-22
The financial statements of Midwest Tours are given below. 19-23
56. Refer to the financial statements of Midwest Tours. The firm's current ratio for 2007 is _____. Difficulty: Moderate 57. Refer to the financial statements of Midwest Tours. The firm's quick ratio for 2007 is __________. Difficulty: Moderate 58. Refer to the financial statements of Midwest Tours. The firm's leverage ratio for 2007 is __________. A. 1.62B. 1.56C.2.00D. 2.42E. 2.17$3,040,000/$1,520,000 = 2.00. Difficulty: Moderate 19-24
59. Refer to the financial statements of Midwest Tours. The firm's times interest earned ratio for 2007 is __________. Difficulty: Moderate 60. Refer to the financial statements of Midwest Tours. The firm's average collection period for 2007 is __________. Difficulty: Moderate 61. Refer to the financial statements of Midwest Tours. The firm's inventory turnover ratio for 2007 is __________. Difficulty: Moderate 19-25
62. Refer to the financial statements of Midwest Tours. The firm's fixed asset turnover ratio for 2007 is __________. A. 1.45B. 1.63C.1.20D. 1.58E. none of the above$2,500,000/[($2,180,000 + $2,000,000)) 2] = 1.20. Difficulty: Moderate 63. Refer to the financial statements of Midwest Tours. The firm's asset turnover ratio for 2007 is __________. Difficulty: Moderate 64. Refer to the financial statements of Midwest Tours. The firm's return on sales ratio for 2007 is __________ percent. Difficulty: Moderate 19-26

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