Question 1

Why is the balance sheet important?

Accepted Answer

The answer of Why is the balance sheet important?...

Question 2

____________________ are the economic obligations (debts) of a business.

Accepted Answer

The answer of ____________________ are the economic obligations (debts) of...

Question 3

How are profitability ratios used to evaluate businesses? Describe two common profitability ratios.

Accepted Answer

The answer of How are profitability ratios used to evaluate...

Question 4

"Quick" assets, as used in the quick ratio, usually include:

Accepted Answer

A)  cash. 
B)  marketable securities. 
C)  accounts payable. 
D)  accounts receivable. 
A)  cash. 
B)  marketable securities. 
C)  accounts payable. 
D)  accounts receivable.

Question 5

The number of days in the collection period should be:

Accepted Answer

A)  as high as possible. 
B)  as low as possible. 
C)  the same as the previous period. 
D)  the same as the budgeted number of days. 
A)  as high as possible. 
B)  as low as possible. 
C)  the same as the previous period. 
D)  the same as the budgeted number of days.

Question 6

A business activity statement (BAS) is used for reconciling the goods and services tax instalments, pay-as-you-go instalments, company tax instalments and fringe benefits tax instalments.

Accepted Answer

A) True 
 B)False

Why is the balance sheet important?

____________________ are the economic obligations (debts) of a business.

How are profitability ratios used to evaluate businesses? Describe two common profitability ratios.

"Quick" assets, as used in the quick ratio, usually include:

The number of days in the collection period should be:

A business activity statement (BAS) is used for reconciling the goods and services tax instalments, pay-as-you-go instalments, company tax instalments and fringe benefits tax instalments.

Introduction to Business Accounting and the Role of Professional Skills

Developing a Business Plan: Cost-Volume-Profit Analysis

Developing a Business Plan: Budgeting

The Accounting System: Concepts and Applications

Recording, Storing and Reporting Accounting Information

Managing and Reporting Working Capital

The Income Statement: Content and Use

The Cash Flow Statement: Content and Use

Sustainable Business

Short-Term Planning Decisions

Capital Expenditure Decisions

Filters

Exam 8: The Balance Sheet: Content, Use and Analysis

Why is the balance sheet important?

____________________ are the economic obligations (debts) of a business.

How are profitability ratios used to evaluate businesses? Describe two common profitability ratios.

"Quick" assets, as used in the quick ratio, usually include:

The number of days in the collection period should be:

A business activity statement (BAS) is used for reconciling the goods and services tax instalments, pay-as-you-go instalments, company tax instalments and fringe benefits tax instalments.

Introduction to Business Accounting and the Role of Professional Skills

Developing a Business Plan: Cost-Volume-Profit Analysis

Developing a Business Plan: Budgeting

The Accounting System: Concepts and Applications

Recording, Storing and Reporting Accounting Information

Managing and Reporting Working Capital

The Income Statement: Content and Use

The Cash Flow Statement: Content and Use

Sustainable Business

Short-Term Planning Decisions

Capital Expenditure Decisions

Filters