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