For each of the following items, indicate by using the appropriate code letter, how the item
should be reported in the statement of cash flows, using the indirect method.
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ACC 556 Chapter 13 Quiz (100% Score)
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Chapter 13 Quiz
1. Price-earnings ratio
2. Return on assets
3. Accounts receivable turnover ratio
4. Earnings per share
5. Payout ratio
6. Current cash debt coverage
7. Current ratio
8. Debt to assets ratio
9. Free cash flow
10. Inventory turnover
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ACC 556 Chapter 21 Quiz (100% Score)
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Chapter 21 Quiz
Question 1
A benefit of budgeting is that it provides definite objectives for evaluating performance.
Question 2
Effective budgeting requires clearly defined lines of authority and responsibility.