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Finance
what is the relationship between final accounts and budgetary control ?
Finance
In vertical analysis, the base amount for each income statement item is
net sales.
net income.
sales.
gross profit.
net sales.
net income.
sales.
gross profit.
Finance
If an item meets one (but not both) of the criteria for an extraordinary item, it......
may be treated as sales revenue (if it is a gain) and as an operating expense (if it is a loss).
only needs to be disclosed in the footnotes of the financial statements.
is reported at its gross amount as an "other revenue or gain" or "other expense or loss."
is reported as an "other revenue or gain" or "other expense and loss," net of tax.
may be treated as sales revenue (if it is a gain) and as an operating expense (if it is a loss).
only needs to be disclosed in the footnotes of the financial statements.
is reported at its gross amount as an "other revenue or gain" or "other expense or loss."
is reported as an "other revenue or gain" or "other expense and loss," net of tax.
Finance
Each of the following is an extraordinary item except?
losses attributable to labor strikes.
effects of major casualties, if rare in the area.
expropriation of property by a foreign government.
effects of a newly enacted law or regulation.
losses attributable to labor strikes.
effects of major casualties, if rare in the area.
expropriation of property by a foreign government.
effects of a newly enacted law or regulation.
Finance
The disposal of a significant segment of a business is called?
discontinued operations.
an other expense.
an extraordinary item.
a change in accounting principle.
discontinued operations.
an other expense.
an extraordinary item.
a change in accounting principle.
Finance
A successful grocery store would probably have
a high inventory turnover.
a low inventory turnover.
low volume.
zero profit margin.
a high inventory turnover.
a low inventory turnover.
low volume.
zero profit margin.
Finance
A weakness of the current ratio is?
that it can be expressed as a percentage, as a rate, or as a proportion.
that it doesn't take into account the composition of the current assets.
the difficulty of the calculation.
that it is rarely used by sophisticated analysts.
that it can be expressed as a percentage, as a rate, or as a proportion.
that it doesn't take into account the composition of the current assets.
the difficulty of the calculation.
that it is rarely used by sophisticated analysts.
Finance
Asset turnover measures?
the portion of the assets that have been financed by creditors.
the overall rate of return on assets.
how often a company replaces its assets.
how efficiently a company uses its assets to generate sales.
the portion of the assets that have been financed by creditors.
the overall rate of return on assets.
how often a company replaces its assets.
how efficiently a company uses its assets to generate sales.
Finance
The acid-test (quick) ratio
a. is the same as the current ratio except it is rounded to the nearest whole percent.
b. is used to quickly determine a company's solvency and long-term debt paying ability.
c. relates cash, short-term investments, and net receivables to current liabilities.
d. is calculated by taking one item from the income statement and one item from the balance sheet.
a. is the same as the current ratio except it is rounded to the nearest whole percent.
b. is used to quickly determine a company's solvency and long-term debt paying ability.
c. relates cash, short-term investments, and net receivables to current liabilities.
d. is calculated by taking one item from the income statement and one item from the balance sheet.
Finance
Each of the following is a liquidity ratio except the
acid-test ratio.
current ratio.
inventory turnover.
debt to total assets ratio.
acid-test ratio.
current ratio.
inventory turnover.
debt to total assets ratio.
