ACC 556 STR Course Great Wisdom / tutorialrank.com ACC 556 STR Course Great Wisdom / tutorialrank.com | Page 69

· 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 information. · Question 10 Marvin Services Corporation had the following accounts and balances: If the balance of the Buildings account was $45,000 and the equipment 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 necessary for meaningful analysis of trends within a company. · Question 12 Requiring employees to take vacations is a weakness in the system of internal controls because it does not promote operational efficiency. · Question 13 Solvency ratios measure the short-term ability of the company to pay its maturing obligations. · Question 14 The best definition of assets is the · Question 15 The partnership form of business organization