Question 1

The $200 fee owed to a landscape designer for work done two months ago is an example of a note receivable.

Accepted Answer

A) True 
 B)False

Question 2

An accounting journal is a chronological list of transactions,each assigned to a particular account.

Accepted Answer

A) True 
 B)False

Question 3

____________________ earnings are the amounts left over from profitable operations since the firm's beginning.

Accepted Answer

The answer of ____________________ earnings are the amounts left over...

Question 4

Auditors are correctly portrayed as bean-counters.

Accepted Answer

A) True 
 B)False

Question 5

What is the first step in the accounting cycle?

Accepted Answer

A)  Analyze the financial statements. 
B)  Prepare the financial statements. 
C)  Analyze the business transaction documents. 
D)  Prepare the trial balance. 
A)  Analyze the financial statements. 
B)  Prepare the financial statements. 
C)  Analyze the business transaction documents. 
D)  Prepare the trial balance.

Question 6

What is the first step in the accounting cycle?

Accepted Answer

Analyze bu

Question 7

The final figure or bottom line on an income statement is called the net revenue.

Accepted Answer

A) True 
 B)False

Question 8

What do liquidity ratios measure?

Accepted Answer

A)  long-term financial stability 
B)  earnings per share 
C)  annual sales and profits 
D)  short-term financial stability 
A)  long-term financial stability 
B)  earnings per share 
C)  annual sales and profits 
D)  short-term financial stability

Question 9

Which of the following is often used to measure a firm's overall liquidity even though it is not really a financial ratio?

Accepted Answer

A)  earnings per share 
B)  return on equity 
C)  net profit margin 
D)  net working capital 
A)  earnings per share 
B)  return on equity 
C)  net profit margin 
D)  net working capital

Question 10

The Jolly Green Giant appears on all packages of frozen and canned vegetables and other dishes sold by the Green Giant Company.Because it does not have a physical existence,what is the Jolly Green Giant?

Accepted Answer

A)  a retained asset 
B)  a tangible expense 
C)  an intangible asset 
D)  a hidden asset 
A)  a retained asset 
B)  a tangible expense 
C)  an intangible asset 
D)  a hidden asset

Question 11

On a statement of cash flows for a manufacturer of digital thermometers,the cash flows from investment activities section would include which of the following?

Accepted Answer

A)  the sale of land adjacent to the manufacturer's administrative office building 
B)  purchase of new $25,000 copying machine 
C)  repayment of long-term loan by a wholesaler of weather-related items 
D)  the money borrowed from the bank to start the company 
A)  the sale of land adjacent to the manufacturer's administrative office building 
B)  purchase of new $25,000 copying machine 
C)  repayment of long-term loan by a wholesaler of weather-related items 
D)  the money borrowed from the bank to start the company

Question 12

Which of the following is the financial statement used to assess the sources and uses of cash during the year?

Accepted Answer

A)  the trial balance 
B)  the balance sheet 
C)  the income statement 
D)  the statement of cash flows 
A)  the trial balance 
B)  the balance sheet 
C)  the income statement 
D)  the statement of cash flows

Question 13

Which of the following is arrived at by subtracting current liabilities from current assets?

Accepted Answer

A)  owners' equity 
B)  net margin 
C)  net working capital 
D)  net profit 
A)  owners' equity 
B)  net margin 
C)  net working capital 
D)  net profit

The $200 fee owed to a landscape designer for work done two months ago is an example of a note receivable.

An accounting journal is a chronological list of transactions,each assigned to a particular account.

____________________ earnings are the amounts left over from profitable operations since the firm's beginning.

Auditors are correctly portrayed as bean-counters.

What is the first step in the accounting cycle?

What is the first step in the accounting cycle?

The final figure or bottom line on an income statement is called the net revenue.

What do liquidity ratios measure?

Which of the following is often used to measure a firm's overall liquidity even though it is not really a financial ratio?

The Jolly Green Giant appears on all packages of frozen and canned vegetables and other dishes sold by the Green Giant Company.Because it does not have a physical existence,what is the Jolly Green Giant?

On a statement of cash flows for a manufacturer of digital thermometers,the cash flows from investment activities section would include which of the following?

Which of the following is the financial statement used to assess the sources and uses of cash during the year?

Which of the following is arrived at by subtracting current liabilities from current assets?

understanding Evolving Economic Systems and Competition

the Global Marketplace and Governments’ Roles

Social Trends, social Responsibility, and Making Ethical Decisions in Business

Using Technology to Manage Information and for Business Success

Forms of Business Ownership

Entrepreneurship and Small Business

Management and Leadership in Today’s Organizations

Designing Organizational Structures

Motivating Employees

Managing Human Resources and Labour Relations

Achieving World-class Operations Management

Understanding the Customer

Creating Marketing Strategies

Understanding Money, financial Institutions, and the Securities Markets

Managing the Firm’s Finances

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Exam 14: Using Financial Information and Accounting

The $200 fee owed to a landscape designer for work done two months ago is an example of a note receivable.

An accounting journal is a chronological list of transactions,each assigned to a particular account.

____________________ earnings are the amounts left over from profitable operations since the firm's beginning.

Auditors are correctly portrayed as bean-counters.

What is the first step in the accounting cycle?

What is the first step in the accounting cycle?

The final figure or bottom line on an income statement is called the net revenue.

What do liquidity ratios measure?

Which of the following is often used to measure a firm's overall liquidity even though it is not really a financial ratio?

The Jolly Green Giant appears on all packages of frozen and canned vegetables and other dishes sold by the Green Giant Company.Because it does not have a physical existence,what is the Jolly Green Giant?

On a statement of cash flows for a manufacturer of digital thermometers,the cash flows from investment activities section would include which of the following?

Which of the following is the financial statement used to assess the sources and uses of cash during the year?

Which of the following is arrived at by subtracting current liabilities from current assets?

understanding Evolving Economic Systems and Competition

the Global Marketplace and Governments’ Roles

Social Trends, social Responsibility, and Making Ethical Decisions in Business

Using Technology to Manage Information and for Business Success

Forms of Business Ownership

Entrepreneurship and Small Business

Management and Leadership in Today’s Organizations

Designing Organizational Structures

Motivating Employees

Managing Human Resources and Labour Relations

Achieving World-class Operations Management

Understanding the Customer

Creating Marketing Strategies

Understanding Money, financial Institutions, and the Securities Markets

Managing the Firm’s Finances

Filters