ACC 561 ACC561 Week 2 Assignment Practice Quiz Answers (PHOENIX)

ACC 561 ACC561 Week 2 Assignment Practice Quiz Answers (PHOENIX)

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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:

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?

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?

                                                    Amount Percent

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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