Question 1

Complete using trend analyses for sales. (Round to nearest percent and use 2010 as the base year.)

Accepted Answer

A. 32%; B.

Question 2

Given the following:   By trend analysis (base year is 2010), sales in 2012 to the nearest percent of the base year is:

Accepted Answer

A) 117% 
B) 116% 
C) 118% 
D) 119% 
E) None of these 
A) 117% 
B) 116% 
C) 118% 
D) 119% 
E) None of these

Question 3

Complete

Accepted Answer

The answer of Complete
 ...

Question 4

Land does not depreciate.

Accepted Answer

A) True 
 B)False

Question 5

Complete:

Accepted Answer

A. $42,000; 
B. 23.8

Question 6

The total debt to total assets of Logan Company was .71. The total of Logan's assets was $270,000. The amount of total debt is:

Accepted Answer

A) $146,700 
B) $191,700 
C) $119,700 
D) $461,700 
E) None of these 
A) $146,700 
B) $191,700 
C) $119,700 
D) $461,700 
E) None of these

Question 7

The balance sheet lists:

Accepted Answer

A) Assets, liabilities, expenses 
B) Assets, liabilities, equity 
C) Assets, revenues, expenses 
D) Assets, revenues, equity 
E) None of these 
A) Assets, liabilities, expenses 
B) Assets, liabilities, equity 
C) Assets, revenues, expenses 
D) Assets, revenues, equity 
E) None of these

Question 8

Vertical analysis cannot be done on a comparative statement.

Accepted Answer

A) True 
 B)False

Question 9

Horizontal analysis can analyze balance sheets for two or more periods.

Accepted Answer

A) True 
 B)False

Question 10

Reductions in the selling price for early payment are called sales returns and allowances.

Accepted Answer

A) True 
 B)False

Question 11

Selecting a base year and expressing each amount as a percent of the base year amount is called:

Accepted Answer

A) Trend analysis 
B) Horizontal analysis 
C) Vertical analysis 
D) Ratio analysis 
E) None of these 
A) Trend analysis 
B) Horizontal analysis 
C) Vertical analysis 
D) Ratio analysis 
E) None of these

Question 12

A relationship of one number to another is a ratio.

Accepted Answer

A) True 
 B)False

Question 13

Income statements are prepared only once a year.

Accepted Answer

A) True 
 B)False

Question 14

Complete the following the current ratio for the following: Total current assets = $12,000; current liabilities = $10,000

Accepted Answer

A) 1.5 
B) 1.7 
C) .7 
D) 1.2 
E) None of these 
A) 1.5 
B) 1.7 
C) .7 
D) 1.2 
E) None of these

Complete using trend analyses for sales. (Round to nearest percent and use 2010 as the base year.)

Given the following: By trend analysis (base year is 2010), sales in 2012 to the nearest percent of the base year is:

Complete

Land does not depreciate.

Complete:

The total debt to total assets of Logan Company was .71. The total of Logan's assets was $270,000. The amount of total debt is:

The balance sheet lists:

Vertical analysis cannot be done on a comparative statement.

Horizontal analysis can analyze balance sheets for two or more periods.

Reductions in the selling price for early payment are called sales returns and allowances.

Selecting a base year and expressing each amount as a percent of the base year amount is called:

A relationship of one number to another is a ratio.

Income statements are prepared only once a year.

Complete the following the current ratio for the following: Total current assets = $12,000; current liabilities = $10,000

Whole Number: How to Dissect and Solve Word Problems

Fractions

Decimals

Banking

Solving for the Unknown: a How to Approach to Solving Equations

Percents and Their Applications

Discounts: Trade and Cash

Markups and Markdowns: Perishables and Breakeven Analysis

Payroll

Simple Interest

Promissory Notes, Simple Discount Notes and the Discount Process

Compound Interest and Present Value

Annuities and Sinking Funds

Installment Buying

The Cost of Home Ownership

Appreciation

Inventory and Overhead

Sales Excise and Property Taxes

Life, Fire and Auto Insurance

Stocks, Bonds and Mutual Funds

Business Statistics

Filters

Exam 16: How to Read, Analyze, and Interpret Financial Reports

Complete using trend analyses for sales. (Round to nearest percent and use 2010 as the base year.)

Given the following: By trend analysis (base year is 2010), sales in 2012 to the nearest percent of the base year is:

Complete

Land does not depreciate.

Complete:

The total debt to total assets of Logan Company was .71. The total of Logan's assets was $270,000. The amount of total debt is:

The balance sheet lists:

Vertical analysis cannot be done on a comparative statement.

Horizontal analysis can analyze balance sheets for two or more periods.

Reductions in the selling price for early payment are called sales returns and allowances.

Selecting a base year and expressing each amount as a percent of the base year amount is called:

A relationship of one number to another is a ratio.

Income statements are prepared only once a year.

Complete the following the current ratio for the following: Total current assets = $12,000; current liabilities = $10,000

Whole Number: How to Dissect and Solve Word Problems

Fractions

Decimals

Banking

Solving for the Unknown: a How to Approach to Solving Equations

Percents and Their Applications

Discounts: Trade and Cash

Markups and Markdowns: Perishables and Breakeven Analysis

Payroll

Simple Interest

Promissory Notes, Simple Discount Notes and the Discount Process

Compound Interest and Present Value

Annuities and Sinking Funds

Installment Buying

The Cost of Home Ownership

Appreciation

Inventory and Overhead

Sales Excise and Property Taxes

Life, Fire and Auto Insurance

Stocks, Bonds and Mutual Funds

Business Statistics

Filters