ACC 400 Course Great Wisdom / tutorialrank.com ACC 400 Course Great Wisdom / tutorialrank.com | Page 18

3.
What are some of the various lease options? When would you
use one option over the others? What could be the financial influence
of this decision? (300 words)
4.
Why do you think it is important for clients of accounting firms
to be ethical? (300 words)
5.
How could a corporation integrate ethical behavior into its code
of conduct and internal controls? (300 words)
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ACC 400 Final Exam Guide (MCQs)(UOP)
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1. A measure of a company’s solvency is the a. acid-test ratio. b.
current ratio. c. times interest earned ratio. d. asset turnover ratio.

2. Allowance for Doubtful Accounts is presented as a(n) a. addition to
Accounts Receivable on the balance sheet. b. operating expense on
the income statement. c. deduction from Sales on the income
statement. d. contra asset on the balance sheet.

3. The financial statements of the Colter Manufacturing Company
reports net sales of $400,000 and accounts receivable of $80,000 and
$40,000 at the beginning of the year and end of year, respectively.
What is the receivables turnover ratio for Colter? a. 6.7 times b. 10
times c. 5 times d. 8 times