Acc 557 week 11 chapter 14 quiz (2 sets) (updated one)

Week 11 Quiz, Chapter 14

 

Multiple Choice Question 52

 

Vertical analysis is also known as

 

 

 

 

Multiple Choice Question 98

 

A measure of the percentage of each dollar of sales that results in net income is

 

 

 

 

Multiple Choice Question 91

 

The current assets of Margo Company are $300,000. The current liabilities are $100,000. The current ratio expressed as a proportion is

 

 

 

 

 

 

 

 

 

Multiple Choice Question 61

 

Under which of the following cases may a percentage change be computed?

 

 

 

 

Multiple Choice Question 116

 

Net income does not appear in the numerator of the

 

 

 

 

Multiple Choice Question 99

 

West Company had $375,000 of current assets and $150,000 of current liabilities before borrowing $75,000 from the bank with a 3-month note payable. What effect did the borrowing transaction have on the amount of West Company’s working capital?

 

 

 

 

 

 

 

 

Multiple Choice Question 71

 

In performing a vertical analysis, the base for sales returns and allowances is

 

 

 

 

Multiple Choice Question 147

 

In 2012 Shum Corporation reported income from operations $180,000, interest expense $50,000, and income tax expense $40,000. Shum’s times interest earned ratio was:

 

 

 

 

Multiple Choice Question 51

 

Horizontal analysis is also called

 

 

 

 

 

 

 

 

 

 

 

Multiple Choice Question 165

 

Comparisons of data within a company are an example of the following comparative basis:

 

 

 

 

Multiple Choice Question 69

 

In performing a vertical analysis, the base for prepaid expenses is

 

 

 

 

Multiple Choice Question 88

 

Flake Company reported the following on its income statement:

Income before income taxes

$600,000

Income tax expense

150,000

Net income

$450,000

An analysis of the income statement revealed that interest expense was $50,000. Flake Company’s times interest earned was

 

 

 

 

Multiple Choice Question 42

 

In analyzing the financial statements of a company, a single item on the financial statements

 

 

 

 

 

Multiple Choice Question 163

 

Each of the following is a factor affecting quality of earnings except

 

 

 

 

 

Multiple Choice Question 46

 

A stockholder is interested in the ability of a firm to