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Accounting Few MCQs




Question;Question 1Which one of the following is not a characteristic generally evaluated in ratio analysis?liquidityprofitabilitysolvencymarketabilityQuestion 2A loss on disposal of a segment would be reported in the income statement as a(n)administrative expenseother expensededuction from income from continuing operationsselling expenseQuestion 3Based on the following data for the current year, what is the number of days' sales in accounts receivable?Net sales on account during year $584,000Cost of merchandise sold during year 300,000Accounts receivable, beginning of year 45,000Accounts receivable, end of year 35,000Inventory, beginning of year 90,000Inventory, end of year 110,0007.32.514.625 Question 4An extraordinary item results froma segment of the business being sold.corporate income tax being paid.a change from one accounting method to another acceptable accounting method.a transaction or event that is unusual and occurs infrequently.Question 5Which of the following is a measure of the liquid position of a corporation?earnings per shareinventory turnovercurrent rationumber of times interest charges earnedQuestion 6Hsu Company reported the following on its income statement:Income before income taxes$420,000Income tax expense120,000Net income$300,000An analysis of the income statement revealed that interest expense was $80,000. Hsu Company's times interest earned was8 times.6.25 times.5.25 times.5 times.question 7:A company that is leveraged is one thatcontains debt financing.contains equity financing.has a high current ratio.has a high earnings per share.ques 8:Which of the following is required by the Sarbanes-Oxley Act of 2002?A price-earnings ratio.A report on internal control.A vertical analysis.A common-sized statement.ques 9:Horizontal analysis of comparative financial statements includes thedevelopment of common size statements.calculation of liquidity ratios.calculation of dollar amount changes and percentage changes from the previous to the current year.evaluation of financial statement data.


Paper#42127 | Written in 18-Jul-2015

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