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#### ACC 561 Week 2 Quiz

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ACC 561 Week 2 Quiz -

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

• market value.
• solvency.
• profitability.
• liquidity.

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

• Debt to equity ratio
• Profit margin
• Working capital
• Earnings per shar

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

• capital structure.
• working capital
• current ratio.
• profit margin.

88. 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?

• 33%
• 133%
• 75%
• 113%

89 .An analyzing financial statements, horizontal analysis is a

• theory.
• requirement.
• tool.
• principle.

101. Comparative balance sheets

• are usually prepared for at least one year.
• are usually prepared for at least two years.
• do not show both dollar amount and percentage changes.
• do not show a comparison of total stockholders' equity.

102. 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?

• 50%
• 67%
• 150%
• 20%

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

• Intercompany.
• Interregional.
• Industry averages.
• Intracompany.

123. 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%
• Horizontal analysis
• Differential analysis
• Vertical analysis
• Ratio analysis

129. A common measure of profitability is the

• current ratio.
• debt to total assets.
• current cash debt coverage ratio.
• return on common stockholders' equity ratio.

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

• Return on total assets
• Current cash debt coverage ratio
• Debt to total assets ratio
• Receivables turnover

137. The current ratio is

• calculated by dividing current liabilities by current assets.
• used to evaluate a company's liquidity and short-term debt paying ability.
• used to evaluate a company's solvency and long-term debt paying ability.
• calculated by subtracting current liabilities from current assets.

121.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?
• A.100%
• B.75%
• C.25%
• D.None of the above.