ACC 561 ACC561 Week 2 Assignment Practice Quiz Answers (PHOENIX)
ACC 561 Week 2 Assignment Practice Quiz
Multiple Choice Question 115
The relationship between current assets and current liabilities is important in evaluating a company's
Multiple Choice Question 116
Which of the following is a measure of liquidity?
Multiple Choice Question 117
Current assets divided by current liabilities is known as the
Multiple Choice Question 88
Danner Corporation reported net sales of $600,000, $680,000, 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?
Multiple Choice Question 89
In analyzing financial statements, horizontal analysis is a
Multiple Choice Question 101
Comparative balance sheets
Multiple Choice Question 102
Assume the following cost of goods sold data for a company:
If 2011 is the base year, what is the percentage increase in cost of goods sold from 2011 to 2013?
Multiple Choice Question 105
Comparisons of data within a company are an example of the following comparative basis:
Multiple Choice Question 123
The following schedule is a display of what type of analysis?
Current assets $100,000 25%
Property, plant, and equipment 300,000 75%
Total assets $400,000 100%
Multiple Choice Question 129
A common measure of profitability is the
Multiple Choice Question 134
Which one of the following would be considered a long-term solvency ratio?
Multiple Choice Question 137
The current ratio is
Multiple Choice Question 121
Richards, Inc. has the following income statement (in millions):
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