ACC 561 Week 2 Practice Quiz - UOP Work - 75393

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ACC 561 Week 2 Practice Quiz - UOP Work

1.      The relationship between current assets and current liabilities is important in evaluating a company's

2.      Which of the following is a measure of liquidity?

3.      Current assets divided by current liabilities is known as the

4.      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?

5.      In analyzing financial statements, horizontal analysis is a

6.      Comparative balance sheets

7.      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?

 

8.      Comparisons of data within a company are an example of the following comparative basis:

9.      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%    

10.  A common measure of profitability is the

11.  Which one of the following would be considered a long-term solvency ratio?

12.  The current ratio is

13.  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?