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ACCT 212 Week 7 Quiz (Updated)

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ACCT 212 Week 7 Quiz (Updated)

Question 1.

Question :

(TCO 1) Period to period percentage change in comparative financial statements is often called

	Student Answer:		benchmarking.
			horizontal analysis.
			vertical analysis.
			common-size statements.

Question 2.

Question :

(TCO 1) Horizontal analysis is performed on

	Student Answer:		only the income statement.
			only the balance sheet.
			only the statement of retained earnings
			the income statement, the balance sheet, and the statement of retained earnings.

Question 3.

Question :

(TCO 1) Which of the following is typically used as the base in a vertical analysis of an income statement?

	Student Answer:		Cash
			Inventory
			Net income
			Net sales

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Question 4.

Question :

(TCO 1) A financial statement item expressed as a percentage of a base amount is a result of

	Student Answer:		horizontal analysis.
			ratio analysis.
			vertical analysis.
			comparative analysis.

Question 5.

Question :

(TCO 1) Which of the following would be most helpful in the comparison of different size companies?

	Student Answer:		Horizontal analysis
			Comparison of their net incomes
			Comparison of their working capital balances
			Preparation of common-size financial statements

Question 6.

Question :

(TCO 1) Walton Company’s return on sales for the most recent year was 5%. The industry leader reports a return on sales of 7%. The comparison of each company’s return on sales is an example of

	Student Answer:		benchmarking.
			gross margin analysis.
			detail analysis.
			intercompany analysis.

Question 7.

Question :

(TCO 1) When analyzing the statement of cash flows, which of the following statement are true?

	Student Answer:		Cash has no effect on the success of the company.
			Cash is ignored when analyzing a company.
			An excess of cash is the sign of a healthy company.
			A company with a large cash balance is ensured success.

Question 8.

Question :

(TCO 1) On a statement of cash flows, which is considered an operating activity?

	Student Answer:		Sale of securities
			Purchase of fixed assets
			Purchase of securities
			Depreciation

Question 9.

Question :

(TCO 1) The ratio that provides an estimate of the number of days, on average, that it takes for customers to pay their account is the

	Student Answer:		days’ sales in receivables
			current ratio.
			accounts receivable turnover.
			acid-test ratio.

Question 10.

Question :

(TCO 1) Economic value added (EVA) is computed as:

	Student Answer:		net income + long-term debt + interest expense.
			net income + interest expense – capital charge.
			net income – interest expense + capital charge.
			net income – long-term debt + interest expense.

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ACCT 212 Week 7 Quiz (Updated)

ACCT 212 Week 7 Quiz (Updated)

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