Colorado MGT340 final exam (65 questions)/Colorado MGT340 final exam (65 questions)

  

Question 1

Cost of goods sold is located on which financial statement?

Statement of cash flows

Balance sheet

Income statement

All of the above

Question 2

Which of the following was not identified as one of the four main financial objectives of a firm?

timeliness

efficiency

stability

profitability

liquidity

Question 3

Which of the following is an example of a long-term liability or debt?

owner's equity

current portion of real estate mortgage

real estate mortgage

accrued expenses

accounts payable

Question 4

Which of the financial statements used by businesses to keep track of their financial affairs is the most similar to an ordinary person's end-of-the month bank statement?

statement of cash flows

balance sheet

statement of ratio analysis

income statement

statement of owners' equity

Question 5

A firm's working capital is its:

total assets minus its total liabilities

cash and cash equivalents minus its current liabilities

accounts receivable minus its total accounts payable

inventory and accounts receivable minus its current liabilities

current assets minus its current liabilities