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ACC 561 Week 2 Quiz 100% Correct
Description
- The relationship between current assets and current liabilities is important in evaluating a company’s
- Which of the following is a measure of liquidity?
- Current assets divided by current liabilities is known as the
- 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?
- In analyzing financial statements, horizontal analysis is a
- Comparative balance sheets
- 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?
- Comparisons of data within a company are an example of the following comparative basis:
- The following schedule is a display of what type of analysis?
- A common measure of profitability is the
- Which one of the following would be considered a long-term solvency ratio?
- The current ratio is
- Richards, Inc. has the following income statement (in millions):
- RICHARDS, INC.
- Income Statement For the Year Ended December 31, 2012
- Net Sales $180
- Cost of Goods Sold 60
- Gross Profit 120
- Operating Expenses 75
- Net Income $ 45
Using vertical analysis, what percentage is assigned to net income?