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ACC 561 Week 2 Practice Quiz

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ACC 561 Week 2 Practice  Quiz

Multiple Choice Question 115

The relationship between current assets and current liabilities is important in evaluating a company’s

 

 

Multiple Choice Question 116

Which of the following is a measure of liquidity?

 

 

Multiple Choice Question 117Current assets divided by current liabilities is known as the

 

 

Multiple Choice Question 88Danner Corporation reported net sales of $600,000, $680,000, and $800,000 in the years 2011, 2012, and 2013, respectively. If 2011 is the base year, what percentage do 2013 sales represent of the base?

 

 

Multiple Choice Question 89In analyzing financial statements, horizontal analysis is a

 

Multiple Choice Question 102

Assume the following cost of goods sold data for a company:

2013

$1,500,000

2012

1,200,000

2011

1,000,000

If 2011 is the base year, what is the percentage increase in cost of goods sold from 2011 to 2013?

 

 

Multiple Choice Question 105Comparisons of data within a company are an example of the following comparative basis:

 

 

Multiple Choice Question 123The following schedule is a display of what type of analysis?

Amount

Percent

Current assets

$100,000

25%

Property, plant, and equipment

300,000

75%

Total assets

$400,000

100%

 

 

Multiple Choice Question 129

A common measure of profitability is the

 

 

Multiple Choice Question 134

Which one of the following would be considered a long-term solvency ratio?

 

 

Multiple Choice Question 137

The current ratio is

 

 

Multiple Choice Question 121Richards, Inc. has the following income statement (in millions):

RICHARDS, INC.

Income Statement

For the Year Ended December 31, 2012

Net Sales

$180

Cost of Goods Sold

60

Gross Profit

120

Operating Expenses

75

Net Income

$ 45

Using vertical analysis, what percentage is assigned to net income?

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