ACC/561 ACC 561 Week 2 WileyPLUS Practice Quiz
Homework TutorDescription / Instructions: Complete the Week 2 WileyPLUS Practice Quiz.
Question 1 |
The relationship between current assets and current liabilities is important in evaluating a company's
Question 2 |
Which of the following is a measure of liquidity?
Question 3 |
Current assets divided by current liabilities is known as the
Question 4 |
Danner 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?
Question 5 |
In analyzing financial statements, horizontal analysis is a
Question 6 |
Comparative balance sheets
Question 7 |
Assume the following cost of goods sold data for a company
Question 8 |
Comparisons of data within a company are an example of the following comparative basis
Question 9 |
The 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% |
Question 10 |
A common measure of profitability is the
Question 11 |
Which one of the following would be considered a long-term solvency ratio?
Question 12 |
The current ratio is
Question 13 |
Richards, 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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