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 ):