Liquidity ratios measure a how effectively a company

  • Ashworth College
  • EXAM 7
  • Test Prep
  • Yankee7903
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Exam 7

Question 33   of 40 2.5 / 2.5 Points Comparative reports in which each item is expressed as a percentage of a base amount without dollar amounts are called __________.
A. comparative financial statements
B. 
C. cash flow analysis
D. horizontal analysis
Answer:  B.   common-size statements
Question 34   of 40 0.0 / 2.5 Points The current ratio for a company with current assets of $ 70,000 , current liabilities of $ 50,000 , total assets of $ 150,000 , and net sales of $ 80,000 , would be __________.
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Question 36   of 40 2.5 / 2.5 Points If current assets are $ 60,000 and current liabilities are $ 50,000 , the current ratio is __________.
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Question 37   of 40 0.0 / 2.5 Points Which analysis deals with the percentage of changes in certain items over several years ?
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Question 38   of 40 2.5 / 2.5 Points An account in which the balance is not carried over from one accounting period to the next is called a __________.
A. permanent account
B. real account
C. 
D. zero account
Answer:  C.   temporary account
Question 39   of 40 2.5 / 2.5 Points Closing entries _ _ _ _______.
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Question 40   of 40 0.0 / 2.5 Points Debt management ratios measure __________.
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Question 31 of 402.5/ 2.5 PointsLiquidity ratios measure __________.A. how effectively a company is using its equityB. how effectively a company is using its liabilitiesC. a company's ability to pay shareholdersD. a company's ability to pay off short-term debts
Question 32 of 402.5/ 2.5 PointsProfitability ratios measure __________.
Question 33 of 402.5/ 2.5 PointsComparative reports in which each item is expressed as a percentage of a base amount without dollar amounts are called __________.
Question 34 of 400.0/ 2.5 PointsThe current ratio for a company with current assets of $70,000, current liabilities of $50,000, total assets of $150,000, and net sales of $80,000, would be __________.
Question 35 of 402.5/ 2.5 Points
Which of the following sequence of actions describes the proper order in the accounting cycle?A. journalize, post, close, prepare financial statements, adjust, and analyze transactionsB. prepare financial statements, journalize, post, adjust, analyze transactions, and closeC. analyze transactions, journalize, post, adjust, prepare financial statements, and closeD. post, close, prepare financial statements, adjust, analyze transactions, and journalize
Question 36 of 402.5/ 2.5 PointsIf current assets are $60,000 and current liabilities are $50,000, the current ratio is __________.
Question 37 of 400.0/ 2.5 PointsWhich analysis deals with the percentage of changes in certain items over several years?
Question 38 of 402.5/ 2.5 PointsAn account in which the balance is not carried over from one accounting period to the next is called a __________.
Question 39 of 402.5/ 2.5 PointsClosing entries __________.A. need not be journalized since they appear on the worksheet
B. need not be posted if the financial statements are prepared from the worksheetC. are not needed if adjusting entries are preparedD. must be journalized and posted
Question 40 of 400.0/ 2.5 PointsDebt management ratios measure __________.

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