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A concentration of credit risk is a threat of nonpayment from a single
customer or class of customers that could adversely affect the financial
health of the company.
· Question 6
Which of the following is not a common way that managers use the ba
lance sheet?
· Question 7
Financing activities include the purchase or sale of longlived assets or the purchase or sale of investment securities.
· Question 8
Bathlinks Corporation has a debt to assets ratio of 73%. This tells the
user of Bathlinks‘s financial statements that
· Question 9
Owners of business firms are the only people who need accounting inf
ormation.
· Question 10
Marvin Services Corporation had the following accounts and balances
:
If the balance of the Buildings account was $45,000 and the equipmen
t was sold for $21,000, what would be the total of stockholders' equity?
· Question 11
Consistent use of the same accounting principles and methods is neces
sary for meaningful analysis of trends within a company.
· Question 12
Requiring employees to take vacations is a weakness in the system of i
nternal controls because it does not promote operational efficiency.
· Question 13