Question 1

The future value of an ordinary annuity table would not include the factor

Accepted Answer

A)  0.909. 
B)  2.010. 
C)  20.300. 
D)  1.000. 
A)  0.909. 
B)  2.010. 
C)  20.300. 
D)  1.000.

Question 2

Current liabilities are debts that are expected to be satisfied within

Accepted Answer

A)  one year or the normal operating cycle, whichever is shorter. 
B)  one year or the normal operating cycle, whichever is longer. 
C)  one year. 
D)  the normal operating cycle. 
A)  one year or the normal operating cycle, whichever is shorter. 
B)  one year or the normal operating cycle, whichever is longer. 
C)  one year. 
D)  the normal operating cycle.

Question 3

Lawsuits against a company in connection with an industrial accident would not be disclosed in the notes to the financial statements as a contingent liability until the lawsuits have been settled.

Accepted Answer

A) True 
 B)False

Question 4

Which of the following is both an estimated liability and a contingent liability?

Accepted Answer

A)  Co signature on $500 loan 
B)  Current portion of long-term debt 
C)  Warranty liability 
D)  Liability for dividends 
A)  Co signature on $500 loan 
B)  Current portion of long-term debt 
C)  Warranty liability 
D)  Liability for dividends

Question 5

Which of the following is a contingent liability?

Accepted Answer

A)  Note payable with interest included in face amount 
B)  Excise tax payable 
C)  Property tax liability 
D)  Disputed additional tax assessment 
A)  Note payable with interest included in face amount 
B)  Excise tax payable 
C)  Property tax liability 
D)  Disputed additional tax assessment

Question 6

A business accepts a 9 percent,$25,000 note due in 120 days.Assuming simple interest,how much (amount rounded)will the business receive when the note falls due?

Accepted Answer

A)  $25,000 
B)  $25,075 
C)  $25,740 
D)  $27,260 
A)  $25,000 
B)  $25,075 
C)  $25,740 
D)  $27,260

Question 7

All of the following are measures of liquidity except

Accepted Answer

A)  the quick ratio. 
B)  return on assets. 
C)  the current ratio. 
D)  working capital. 
A)  the quick ratio. 
B)  return on assets. 
C)  the current ratio. 
D)  working capital.

The future value of an ordinary annuity table would not include the factor

Current liabilities are debts that are expected to be satisfied within

Lawsuits against a company in connection with an industrial accident would not be disclosed in the notes to the financial statements as a contingent liability until the lawsuits have been settled.

Which of the following is both an estimated liability and a contingent liability?

Which of the following is a contingent liability?

A business accepts a 9 percent,$25,000 note due in 120 days.Assuming simple interest,how much (amount rounded)will the business receive when the note falls due?

All of the following are measures of liquidity except

Uses of Accounting Information and the Financial Statements

Analyzing Business Transactions

Measuring Business Income

Supplement - Closing Entries and the Work Sheet

Financial Reporting and Analysis

The Operating Cycle and Merchandising Operations

Inventories

Cash and Receivables

Long Term Assets

Long-Term Liabilities

Contributed Capital

Investments

The Corporate Income Statement and the Statement of Stockholders Equity

The Statement of Cash Flows

The Changing Business Environment - a Managers Perspective

Cost Concepts and Cost Allocation

Costing Systems- Job Order Costing

Costing Systems- Process Costing

Value-Based Systems- Abm and Lean

Cost Behavior Analysis

The Budgeting Process

Performance Management and Evaluation

Standard Costing and Variance Analysis

Short Run Decision Analysis

Capital Investment Analysis

Pricing Decisions,incltarget Costing and Transfer Pricing

Quality Management and Measurement

Financial Analysis of Performance

Filters

Exam 8: Current Liabilities and Fair Value Accounting

The future value of an ordinary annuity table would not include the factor

Current liabilities are debts that are expected to be satisfied within

Lawsuits against a company in connection with an industrial accident would not be disclosed in the notes to the financial statements as a contingent liability until the lawsuits have been settled.

Which of the following is both an estimated liability and a contingent liability?

Which of the following is a contingent liability?

A business accepts a 9 percent,$25,000 note due in 120 days.Assuming simple interest,how much (amount rounded)will the business receive when the note falls due?

All of the following are measures of liquidity except

Uses of Accounting Information and the Financial Statements

Analyzing Business Transactions

Measuring Business Income

Supplement - Closing Entries and the Work Sheet

Financial Reporting and Analysis

The Operating Cycle and Merchandising Operations

Inventories

Cash and Receivables

Long Term Assets

Long-Term Liabilities

Contributed Capital

Investments

The Corporate Income Statement and the Statement of Stockholders Equity

The Statement of Cash Flows

The Changing Business Environment - a Managers Perspective

Cost Concepts and Cost Allocation

Costing Systems- Job Order Costing

Costing Systems- Process Costing

Value-Based Systems- Abm and Lean

Cost Behavior Analysis

The Budgeting Process

Performance Management and Evaluation

Standard Costing and Variance Analysis

Short Run Decision Analysis

Capital Investment Analysis

Pricing Decisions,incltarget Costing and Transfer Pricing

Quality Management and Measurement

Financial Analysis of Performance

Filters