ACC 561 Week 2 Quiz

Multiple Choice Question 115

The relationship between current assets and current liabilities is important in evaluating a company's

Multiple Choice Question 116

Which of the following is a measure of liquidity?

Multiple Choice Question 117

Current assets divided by current liabilities is known as the

Multiple Choice Question 88

Danner Corporation reported net sales of $600,000, $680,000, and $800,000 in the years 2011, 2012, and 2013, respectively. If 2011 is the base year, what percentage do 2013 sales represent of the base?

Multiple Choice Question 89

In analyzing financial statements, horizontal analysis is a

Multiple Choice Question 102

Assume the following cost of goods sold data for a company:

2013	$1,500,000
2012	1,200,000
2011	1,000,000

If 2011 is the base year, what is the percentage increase in cost of goods sold from 2011 to 2013?

Multiple Choice Question 105

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

Multiple Choice Question 123

The following schedule is a display of what type of analysis?

	Amount	Percent
Current assets	$100,000	25%
Property, plant, and equipment	300,000	75%
Total assets	$400,000	100%

Multiple Choice Question 129

A common measure of profitability is the

Multiple Choice Question 134

Which one of the following would be considered a long-term solvency ratio?

Multiple Choice Question 137

The current ratio is

Multiple Choice Question 121

Richards, Inc. has the following income statement (in millions):

RICHARDS, INC.
Income Statement
For the Year Ended December 31, 2012
Net Sales	$180
Cost of Goods Sold	60
Gross Profit	120
Operating Expenses	75
Net Income	$ 45

Using vertical analysis, what percentage is assigned to net income?

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ACC 561 Week 2 Quiz

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