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DEVRY HSM340 WEEK 2 QUIZ

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Question;TCO 2) A statement that reports inflows and outflows of cash;during the accounting period in the categories of operations, investing, and;financing, is called a(an);Income statement;Statement of retained earnings;Balance sheet;Statement of cash flows;Report of management;Question 2. Question;(TCO 2) Two major methods of asset valuation are;historical cost and future cost;historical cost and acquisition cost;historical cost and replacement cost;acquisition cost and future cost;Question 3. Question;(TCO 2) _____ is the most important financial metric to;review to determine long-term financial viability.;Return on equity;Total margin;Days cash on hand;Hospital cost index;None of the above;Comments;Question 4. Question;(TCO 2) What should be a firm's primary long-term financial;objective?;Profit growth;Debt growth;Asset growth;Equity growth;Question 5. Question;(TCO 2) Explain the difference between the accrual basis of;accounting and the cash basis of accounting.?;Question 6. Question;(TCO 2) What is an accounting entity?;Question 7. Question;(TCO 2) The HC method, which uses unadjusted historical;costs, does not take into account depreciation expenses, purchasing power, and;unrealized gains in replacement value. Despite these weaknesses as a financial;reporting method, the HC method is used more frequently for accounting purposes;than other methods, such as the HC-GPL, CV, and CV-GPL methods. Why is this so?;Question 8. Question;(TCO 2) Define and describe the purpose of fund accounting;(now called net assets).

 

Paper#58400 | Written in 18-Jul-2015

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