ACC/561 ACC 561 Week 2 WileyPLUS Practice Quiz

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Description / Instructions: Complete the Week 2 WileyPLUS Practice Quiz.

 


Question 1

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

 


Question 2

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Which of the following is a measure of liquidity?

 


Question 3

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Current assets divided by current liabilities is known as the

 


Question 4

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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

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In analyzing financial statements, horizontal analysis is a

 


Question 6

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Comparative balance sheets

 

Question 7

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Assume the following cost of goods sold data for a company

 


Question 8

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Comparisons of data within a company are an example of the following comparative basis

 


Question 9

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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

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A common measure of profitability is the

 

Question 11

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

 

Question 12

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The current ratio is

 

Question 13

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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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