ACC 561 Week 2 Wileyplus Practice Quiz For more course tutorials visit www. tutorialrank. com
ACC 561 Week 2 Wileyplus Practice Quiz For more course tutorials visit www. tutorialrank. com
1. The relationship between current assets and current liabilities is important in evaluating a company’ s 2. Which of the following is a measure of liquidity? 3. Current assets divided by current liabilities is known as the 4. Danner Corporation reported net sales of $ 600,000 and $ 800,000 in the years 2011, 2012, and 2013, respectively. If 2011 is the base year, what percentage do 2013 sales represent of the base? 5. In analyzing financial statements, horizontal analysis is a 6. Comparative balance sheets 7. Assume the following cost of goods sold data for a company: 2013 $ 1,500,000 2012 $ 1,200,000 2011 $ 1,000,000 If 2011 is the base year, what is the percentage increase in cost of goods sold from 2011 to 2013? 8. Comparisons of data within a company are an example of the following comparative basis: 9. The following schedule is a display of what type of analysis?
Amount Percent Current assets $ 100,00 25 % Property, plant, and equipment 300,000 75 % Total assets $ 400,000 100 %
10. A common measure of profitability is the 11. Which one of the following would be considered a long-term solvency ratio? 12. The current ratio is 13. Richards, Inc. has the following income statement( in millions):