Questions Questions Ask question Search Order By: ActiveCategoryClear Filter 0 Votes 1 Ans Marketable debt and equity securities that a firm expects to hold as a short-term investment are reported on the balance sheet at A. current market value. B. historical cost. C. amortized current market value. D. amortized historical cost. 614 viewsDarshita asked February 8, 2020 0 Votes 1 Ans Monetary assets are comprised of A. cash and cash equivalents. B. cash, cash equivalents, and accounts receivable. C. cash, cash equivalents, accounts receivable, and notes receivable. D. cash, accounts receivable, notes receivable, and inventoryMonetary assets are comprised of A. cash and cash equivalents. B. cash, cash equivalents, and accounts receivable. C. cash, cash equivalents, accounts receivable, and notes receivable. D. cash, accounts receivable, notes receivable, and inventory 547 viewsDarshita asked February 8, 2020 0 Votes 1 Ans Cash is always measured for the balance sheet at A. future transaction value. B. current market value. C. realizable future value. D. net transaction value. 1.16K viewsDarshita asked February 8, 2020 0 Votes 1 Ans Current assets are assets expected to A. be converted to cash within twelve months. B. be converted to cash within twelve months or one operating cycle if it is longer than twelve months. C. remain on the books for at least twelve months. D. remain on the books for at least twelve months or one operating cycle if longer than twelve months 829 viewsDarshita asked February 8, 2020 0 Votes 1 Ans Balance sheets prepared in compliance with GAAP reflect a mixture of A. historical cost and future cash values. B. current value and discounted future cash flows. C. discounted cash flows and future values. D. historical cost, fair value, net realizable value, and discounted present values 853 viewsDarshita asked February 8, 2020 0 Votes 1 Ans Operating and financial flexibility refers to a company’s ability to A. adjust to unexpected downturns in the economic environment in which it operates or to take advantage of profitable investment opportunities as they arise. B. generate sufficient cash flows to maintain its productive capacity and still meet interest and principal payments on long-term debt. C. readily convert assets to cash relative to how soon liabilities will have to be paid in cash. D. increase sales. 599 viewsDarshita asked February 8, 2020 0 Votes 1 Ans Which of the following measures how readily assets can be converted to cash relative to how soon liabilities will have to be paid in cash? A. capital structure. B. maturity structure. C. solvency. D. liquidity 597 viewsDarshita asked February 8, 2020 0 Votes 1 Ans How much of a company’s assets are financed from debt versus equity sources refers to the company’s A. capital structure. B. maturity structure. C. solvency. D. liquidity. 570 viewsDarshita asked February 8, 2020 0 Votes 1 Ans How far into the future the obligations of a company will come due refers to the company’s A. capital structure. B. maturity structure. C. solvency. D. liquidity. 603 viewsDarshita asked February 8, 2020 0 Votes 1 Ans By comparing return on assets to return on common equity, statement users can determine A. if debt financing is being used to enhance the return earned by shareholders. B. past patterns of profitability within divisions. C. if return on investments exceed the current market yield. D. management’s investment strategies. 815 viewsDarshita asked February 8, 2020 0 Votes 1 Ans The balance sheet provides information on all of the following except for A. how management invested its money. B. where the money came from. C. assessing rates of return. D. the market price of the company’s stock 1.03K viewsDarshita asked February 8, 2020 0 Votes 1 Ans Probable future sacrifices of economic benefits arising from an entity’s present obligations to transfer resources or provide services to other entities in the future as a result of past transactions or events define A. assets. B. liabilities. C. equity. D. retained earnings 672 viewsDarshita asked February 8, 2020 0 Votes 1 Ans The residual interest in the resources of an entity that remains after deducting its debts to third parties defines A. assets. B. liabilities. C. equity. D. retained earnings. 844 viewsDarshita asked February 8, 2020 0 Votes 1 Ans Probable future economic benefits obtained or controlled by an entity as a result of past transactions or events define A. assets. B. liabilities. C. equity. D. retained earnings 641 viewsDarshita asked February 8, 2020 0 Votes 1 Ans Aggregated information is deemed to be more useful in assessing an entity’s future cash flows than disaggregated information 488 viewsDarshita asked February 8, 2020 0 Votes 1 Ans The cohesiveness principle means that information should be presented in financial statements in a manner that portrays a cohesive financial picture of an entity’s activities. 555 viewsDarshita asked February 8, 2020 0 Votes 1 Ans . The FASB/IASB joint discussion paper on financial statement presentation sets forth two core presentation principles: (1) coherence principle, and (2) disaggregation principle 501 viewsDarshita asked February 8, 2020 0 Votes 0 Ans The FASB/IASB joint discussion paper on financial statement presentation sets forth two core presentation principles: (1) cohesiveness principle, and (2) disaggregation principle 418 viewsDarshita asked February 8, 2020 0 Votes 1 Ans The FASB/IASB discussion paper on financial statement presentation, if adopted, would fundamentally alter the current objectives of financial reporting in the U.S 507 viewsDarshita asked February 8, 2020 0 Votes 1 Ans Cash paid to suppliers can be derived by adjusting costs of goods sold for changes in inventory 613 viewsDarshita asked February 8, 2020 « Previous 1 2 … 19 20 21 22 23 … 128 129 Next »
