ACC 561 Week 2 Assignment Practice Quiz - NEW 2016
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ACC 561 Week 2 Assignment Practice 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 101 Comparative balance sheets 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):