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Accounting

1.Which one of the following ratios will provide profitability of a firm?

a. Average collection period
b. Inventory turnover
c. Return on sales
d. Price-earnings ratio

2.A material loss should be presented separately as a component of income from continuing operations when it is

a. An extraordinary item
b. A cumulative effect type change in accounting method
c. Unusual in nature and infrequent in occurrence
d. Not unusual in nature but infrequent in occurrence

3.Which one of the following is NOT a type of comparisons for evaluating financial ratios of a firm?

a. Time-series comparisons
b. Benchmarks
c. Cross-sectional comparisons
d. Segment comparisons

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M9956031

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