Financial reporting refers to: A] The application of analytical tools to general-purpose financial statements |
B] The communication of relevant financial information to decision makers |

The three most common tools of financial analysis are: A] Financial reporting, ratio analysis, vertical analysis |
C] Horizontal analysis, vertical analysis, ratio analysis |

Financial statements with data for two or more successive accounting periods placed in columns side by side, sometimes with changes shown in dollar amounts and percents, are referred to as: A] Period-to-period statements |
D] Comparative statements |

Horizontal analysis: A] Is a method used to evaluate changes in financial data across time |
A] Is a method used to evaluate changes in financial data across time |

Trend analysis is also called: A] Financial analysis |
C] Index number trend analysis |

In which comparative financial statements is each amount expressed as a percentage of a base amount? A] Asset comparative statements |
C] Common-size comparative statements |

Comparative financial statements in which each amount is expressed as a percentage of a base amount and in which the base amount is expressed as 100%, are called: A] Comparative statements |
B] Common-size comparative statements |

Current assets minus current liabilities is equal to: A] Profit margin |
D] Working capital |

Current assets divided by current liabilities is equal to the: A] Current ratio |
A] Current ratio |

Quick assets divided by current liabilities is equal to the: A] Acid-test ratio |
A] Acid-test ratio |

Net sales divided by average accounts receivable is equal to the: A] Days’ sales uncollected |
E] Accounts receivable turnover ratio |

Dividing accounts receivable by net sales and multiplying the result by 365 is equal to the: A] Profit margin |
B] Days’ sales uncollected |

Dividing ending inventory by cost of goods sold and multiplying the result by 365 is equal to the: A] Inventory turnover ratio |
C] Days’ sales in inventory |

Net sales divided by average total assets is equal to the: A] Profit margin |
B] Total asset turnover |

Net income divided by net sales is equal to the: A] Return on total assets |
B] Profit margin |

Net income divided by average total assets is equal to the: A] Profit margin |
C] Return on total assets |

Annual cash dividends per share divided by market price per share is equal to the: A] Price-earnings ratio |
D] Dividend yield ratio |

# UFC1 Ch 13 Quiz

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