Which of the following accounts are used in computations of, Ask an Expert

Accounting

1. Which of the following accounts are used in computations of working capital?

a. Retained Earnings
b. Sales
c. Merchandise Inventory
d. Common Stock

2. A current ratio of 6 is generally an indication that firm

a. Has a low degree of liquidity.
b. Has a reasonable degree of liquidity.
c. Has made the most productive use of its assets.
d. Has not made good use of its assets

3. In advertiser's records, a newspaper ad submitted and published this week with agreement to pay for it next week would:

a. Decrease assets and decrease expenses
b. Increase liabilities and increase expenses
c. Decrease assets and increase revenue
d. Increase assets and decrease liabilities

4. Accounting concept/principle being applied when adjustment is made is generally matching revenue and expense:

a. True
b. False

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M920565

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