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ACC 561 Week 2 Assignment Practice Quiz .pdf



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ACC 561 Week 2 Assignment Practice Quiz
100%Correct
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Multiple Choice Question 115
The relationship between current assets and current liabilities is important in evaluating a
company's
Entry field with correct answer
market value.
solvency.
profitability.
liquidity.

Multiple Choice Question 116
Which of the following is a measure of liquidity?
Debt to equity ratio
Profit margin
Working capital

Earnings per share

Multiple Choice Question 117
Current assets divided by current liabilities is known as the
capital structure.
working capital
current ratio.
profit margin.

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?

33%
133%
75%
113%

Multiple Choice Question 89
In analyzing financial statements, horizontal analysis is a
theory.
requirement.
tool.

principle.

Multiple Choice Question 101
Comparative balance sheets
are usually prepared for at least one year.
are usually prepared for at least two years.
do not show both dollar amount and percentage changes.
do not show a comparison of total stockholders' equity.

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?
50%
67%
150%
20%

Multiple Choice Question 105

Comparisons of data within a company are an example of the following comparative basis:
Intercompany.
Interregional.
Industry averages.
Intracompany.

Multiple Choice Question 123

The following schedule is a display of what type of analysis?
Amount
Current assets
Property, plant, and equipment
Total assets

Horizontal analysis
Differential analysis
Vertical analysis
Ratio analysis

$100,000
300,000
$400,000

Percent
25%
75%
100%

Multiple Choice Question 129

A common measure of profitability is the
current ratio.
debt to total assets.
current cash debt coverage ratio.
return on common stockholders' equity ratio.

Multiple Choice Question 134
Which one of the following would be considered a long-term solvency ratio?
Return on total assets
Current cash debt coverage ratio
Debt to total assets ratio
Receivables turnover

Multiple Choice Question 137

The current ratio is
calculated by dividing current liabilities by current assets.
used to evaluate a company's liquidity and short-term debt paying ability.
used to evaluate a company's solvency and long-term debt paying ability.
calculated by subtracting current liabilities from current assets.

Multiple Choice Question 121

Richards, Inc. has the following income statement (in millions):
RICHARDS, INC.
Income Statement
For the Year Ended December 31, 2012
Net Sales

$180

Cost of Goods Sold

60

Gross Profit 120
Operating Expenses 75
Net Income $ 45
Using vertical analysis, what percentage is assigned to net income?

A.100%
B.75%
C.25%
D.None of the above.

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