ACC 573 Midterm Exam Guide
1 . The two categories of shareholders ' equity usually found on the balance sheet of a corporation are
2 . When a firm attempting to create unique products or services for particular market niches , in order to achieve relatively high profit margins , this is best known as
3 . Which of the following economic characteristics is consistent with a pharmaceutical company ?
4 . Which of the following economic characteristics is consistent with a commercial bank ?
5 . Which of the following assets appears on the balance sheet at fair value ?
6 . The use of acquisition cost as a valuation method is justified on the basis that acquisition cost is :
7 . U . S . GAAP , IFRS , and other major accounting standards are best characterized as
8 . Toro Company recognized $ 655,000 of cost of goods sold in 2010 , in addition its implementation of a just-in-time inventory system allowed it to reduce its inventory from $ 325,000 at the beginning of the year to $ 230,000 at the end of 2010 . How much cash did Toro spend for inventory in 2010 ?
9 . Free cash flows to all debt and common equity shareholders represents the excess of cash flows from