UFC1 Ch 13 Quiz

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
C] Financial statements only
D] Ratio analysis
E] Profitability

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
B] Ratio analysis, horizontal analysis, financial reporting
C] Horizontal analysis, vertical analysis, ratio analysis
D] Trend analysis, financial reporting, ratio analysis
E] Vertical analysis, political analysis, horizontal 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
B] Controlling statements
C] Successive statements
D] Comparative statements
E] Serial statements

D] Comparative statements

Horizontal analysis:

A] Is a method used to evaluate changes in financial data across time
B] Is also called vertical analysis
C] Is the presentation of financial ratios
D] Is a tool used to evaluate financial statement items relative to industry statistics
E] Evaluates financial data across industries

A] Is a method used to evaluate changes in financial data across time

Trend analysis is also called:

A] Financial analysis
B] Ratio analysis
C] Index number trend analysis
D] Industry analysis
E] Output 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
B] Percentage comparative statements
C] Common-size comparative statements
D] Sales comparative statements
E] General-purpose financial 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
C] General-purpose financial statements
D] Base line statements
E] Index statements

B] Common-size comparative statements

Current assets minus current liabilities is equal to:

A] Profit margin
B] Financial leverage
C] Current ratio
D] Working capital
E] Quick assets

D] Working capital

Current assets divided by current liabilities is equal to the:

A] Current ratio
B] Quick ratio
C] Debt ratio
D] Liquidity ratio
E] Solvency ratio

A] Current ratio

Quick assets divided by current liabilities is equal to the:

A] Acid-test ratio
B] Current ratio
C] Working capital ratio
D] Current liability turnover ratio
E] Quick asset turnover ratio

A] Acid-test ratio

Net sales divided by average accounts receivable is equal to the:

A] Days' sales uncollected
B] Average accounts receivable ratio
C] Current ratio
D] Profit margin
E] Accounts receivable turnover ratio

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
C] Accounts receivable turnover ratio
D] Average accounts receivable ratio
E] Current ratio

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
B] Profit margin
C] Days' sales in inventory
D] Current ratio
E] Total asset turnover

C] Days' sales in inventory

Net sales divided by average total assets is equal to the:

A] Profit margin
B] Total asset turnover
C] Current ratio
D] Sales return ratio
E] Return on total assets

B] Total asset turnover

Net income divided by net sales is equal to the:

A] Return on total assets
B] Profit margin
C] Current ratio
D] Total asset turnover
E] Days' sales in inventory

B] Profit margin

Net income divided by average total assets is equal to the:

A] Profit margin
B] Total asset turnover
C] Return on total assets
D] Days' income in assets
E] Current ratio

C] Return on total assets

Annual cash dividends per share divided by market price per share is equal to the:

A] Price-earnings ratio
B] Price-dividends ratio
C] Profit margin
D] Dividend yield ratio
E] Earnings per share

D] Dividend yield ratio

UFC1 Ch 13 Quiz - Subjecto.com

UFC1 Ch 13 Quiz

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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
C] Financial statements only
D] Ratio analysis
E] Profitability

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
B] Ratio analysis, horizontal analysis, financial reporting
C] Horizontal analysis, vertical analysis, ratio analysis
D] Trend analysis, financial reporting, ratio analysis
E] Vertical analysis, political analysis, horizontal 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
B] Controlling statements
C] Successive statements
D] Comparative statements
E] Serial statements

D] Comparative statements

Horizontal analysis:

A] Is a method used to evaluate changes in financial data across time
B] Is also called vertical analysis
C] Is the presentation of financial ratios
D] Is a tool used to evaluate financial statement items relative to industry statistics
E] Evaluates financial data across industries

A] Is a method used to evaluate changes in financial data across time

Trend analysis is also called:

A] Financial analysis
B] Ratio analysis
C] Index number trend analysis
D] Industry analysis
E] Output 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
B] Percentage comparative statements
C] Common-size comparative statements
D] Sales comparative statements
E] General-purpose financial 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
C] General-purpose financial statements
D] Base line statements
E] Index statements

B] Common-size comparative statements

Current assets minus current liabilities is equal to:

A] Profit margin
B] Financial leverage
C] Current ratio
D] Working capital
E] Quick assets

D] Working capital

Current assets divided by current liabilities is equal to the:

A] Current ratio
B] Quick ratio
C] Debt ratio
D] Liquidity ratio
E] Solvency ratio

A] Current ratio

Quick assets divided by current liabilities is equal to the:

A] Acid-test ratio
B] Current ratio
C] Working capital ratio
D] Current liability turnover ratio
E] Quick asset turnover ratio

A] Acid-test ratio

Net sales divided by average accounts receivable is equal to the:

A] Days’ sales uncollected
B] Average accounts receivable ratio
C] Current ratio
D] Profit margin
E] Accounts receivable turnover ratio

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
C] Accounts receivable turnover ratio
D] Average accounts receivable ratio
E] Current ratio

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
B] Profit margin
C] Days’ sales in inventory
D] Current ratio
E] Total asset turnover

C] Days’ sales in inventory

Net sales divided by average total assets is equal to the:

A] Profit margin
B] Total asset turnover
C] Current ratio
D] Sales return ratio
E] Return on total assets

B] Total asset turnover

Net income divided by net sales is equal to the:

A] Return on total assets
B] Profit margin
C] Current ratio
D] Total asset turnover
E] Days’ sales in inventory

B] Profit margin

Net income divided by average total assets is equal to the:

A] Profit margin
B] Total asset turnover
C] Return on total assets
D] Days’ income in assets
E] Current ratio

C] Return on total assets

Annual cash dividends per share divided by market price per share is equal to the:

A] Price-earnings ratio
B] Price-dividends ratio
C] Profit margin
D] Dividend yield ratio
E] Earnings per share

D] Dividend yield ratio

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