On January 1 , 2014 , Ermler Company , a calendar-year company , issued $ 1,000,000 of notes payable , of which $ 250,000 is due on January 1 for each of the next four years . The proper balance sheet presentation on December 31 , 2014 , is
Question 13
One objective of the income statement is to separate the results of continuing operations from those of discontinued operations .
Question 14
All of the following are true regarding financial statement analysis ratios associated with liabilities except
Question 15
A primary objective of the statement of cash flows is to show the income or loss on investing and financing transactions .
Question 16
A master budget is most useful in evaluating a manager ' s performance in controlling costs .
Question 17
The master budget reflects management ' s long-term plans encompassing five years or more .
Question 18
The debt to assets ratio measures the percentage of the total assets provided by creditors
Question 19
A company whose current liabilities exceed its current assets may have a liquidity problem .
Question 20