2 . . ( TCO 1 ) Describe the balance sheet . Why is this statement important to the company , creditors , and investors ? ( Points : 24 )
3 . ( TCO 4 ) Name and describe one liquidity ratio . What does this ratio measure ? What is the formula for this ratio ? ( Points : 24 )
1 . Question ( TCO 1 ) The retained earnings statement shows all of the following except which one ?
2 . Question ( TCO 1 ) Management ’ s views on the company ’ s short-term debt paying ability , expansion financing , and results of operations are found in which of the following ?
3 . Question ( TCO 4 ) For 2010 , Fielder Corporation reported net income of $ 30,000 ; net sales $ 400,000 ; and average share outstanding 6,000 . There were no preferred stock dividends . What was the 2010 earnings per share ?
4 . Question ( TCO 4 ) A useful measure of solvency is which of the following ?
5 . Question ( TCO 2 ) Which pair of accounts follows the rules of debit and credit , in relation to increases and decreases , in the same manner ?
6 . Question ( TCO 2 ) The principle purpose of posting is which of the following ?
7 . Question ( TCO 3 ) Joe is a warehouse custodian , and also maintains the accounting record of the inventory held at the warehouse . An assessment of this situation indicates
8 . Question ( TCO 3 ) The following information was taken from Hurlbert Company cash budget for the month of June :
9 . Question ( TCO 11 ) Managerial accounting information does which of the following ?
10 . Question ( TCO 11 ) Which one of the following is not a direct material ? 11 . Question ( TCO 11 ) Sales commissions are classified as which of the following ? 12 . Question ( TCO 11 ) Manufacturing costs include which of the following ?
13 . Question ( TCO 11 ) Neeley Manufacturing Company reported the following yearend information :
14 . Question ( TCO 5 ) What effect do changes in activity have on fixed costs per unit ?