BUS 591 Week 1 Quiz Spring 2016
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BUS 591 Week 1 Quiz - Spring 2016 1. The information needed to determine whether a company is using accounting methods similar to those of its competitors would be found in the 2. The primary purpose of the statement of cash flows is to report 3. An advantage of the corporate form of business is that 4. Using the following balance sheet and income statement data, what is the debt to total assets? 5. If total liabilities decreased by $45,000 and stockholders' equity decreased by $15,000 during a period of time, then total assets must change by what amount and direction during that same period? 6. Benedict Company compiled the following financial information as of 7. Accounting information should be neutral in order to enhance 8. For 2012 Fielder Corporation reported net income of $30,000; net sales $400,000; and average share outstanding 12,000. There were no preferred stock dividends. What was the 2012 earnings per share? 9. The following information is available for Bradshaw Corporation and Newell Corporation: 10. An item is considered material if