Ask Question, Ask an Expert

+1-415-315-9853

info@mywordsolution.com

Ask Accounting Basics Expert

1. Management's statement of responsibility:

a. Describe that he entity's financial statements are responsibility of entity's auditors

b. States that financial statements are free of significant error

c. Affirms that management is responsible for assuring adherence to internal control policies and

d. Procedures guarantees that the firm has operated in a highly ethical manner

2. Business segment information is included in explanatory notes to financial statements because:

a. Amounts shown on financial statements of most companies are just too large to comprehend

b. Current and potential investors can make more informed judgments about the company

c. Net income from various geographic areas can be clearly determined

d. By combining these amounts, there is no need for ROI for each segment, disclosure is not needed  

3. Price/earnings ratio

a. Is a measure of relative expensiveness of firm's common stock

b. Doesn't generally change by more than 1.0 (e.g. 8.2 to 9.2) during year

c. Can be used to find out cash dividend to be received during year

d. Is computed by dividing earnings multiple by net income  

4. Accounts receivable turnover is computed by taking sales divided by accounts receivable ending balance.

a. True

b. False

5. Which of the given is(are) ex of a measure of leverage?

a. Debt yield

b. Debt payout ratio

c. Debt/equity ratio

d. All of the above

6. As level of activity increases

a. fixed cost per unit increase

b. variable cost per unit increase

c. variable cost per unit decrease

d. fixed cost per unit decrease

Accounting Basics, Accounting

  • Category:- Accounting Basics
  • Reference No.:- M917035

Have any Question? 


Related Questions in Accounting Basics

A tomato farmer with a very large farm of approximately

A tomato farmer with a very large farm of approximately 2200 acres had heard about a new type of rather expensive fertilizer which would supposedly significantly increase his production. The frugal farmer wanted to test ...

Sarbanes oxley requires that per section 404 that internal

Sarbanes Oxley requires that per Section 404 that Internal Controls within a publicly held company are to be reviewed, evaluated and tested at year end to insure that adequate controls are in place. In addition to unders ...

Principles of accountingthere are 10 questions each worth

Principles of Accounting There are 10 questions, each worth 10 points. Answer them fully and upload your document to the dropbox below. QUESTION 1 Harriet's Toy Shop had net sales of $852,000. The gross profit was $230,0 ...

Company name is chevronapply ifrs 1 adopting ifrs and rev

Company name is Chevron Apply IFRS 1, "Adopting IFRS" and "Rev Rec" to your U.S. company used in the "Comparison Project" for the final effort in class which is to develop a plan for the transition to both IFRS and Rev R ...

Royalty calculation problem setdaenerys owns a 38ths

Royalty Calculation Problem Set Daenerys owns a 3/8ths mineral interest in Section 8. The other 5/8ths are owned by Viserys. Daenerys and Viserys both enter into a lease with Westeros Oil and Gas on the AAPL form lease, ...

To understand the accounting equation and its

To understand the accounting equation and its elements QUESTION Mr. "A" starts a new business. Before to start the business operation, he has purchased vehicle Rs. 1,500,000, office premises Rs. 3,000,000, stock of goods ...

Individual internal accountants report to managementyou are

Individual Internal Accountants Report to Management You are the internal accountant at a company that is preparing for an upcoming government contract bid. The management in your company is deciding if it is necessary f ...

Analyze tootsie rolls 2015 consolidated statements of

Analyze Tootsie Roll's 2015 Consolidated Statements of Earnings and Retained Earnings. Discuss the relevance for a manufacturer of reporting a gross profit amount. Then calculate or report the 2015 Gross Profit Rate (%) ...

Individual research papercompany case study assignmentthis

Individual Research Paper Company Case Study Assignment This assignment has a number of learning objectives, sources, and opportunities: 1. You will explore financial performance and investor information available fromva ...

Case 2b - mendel paper companymendel paper company produces

CASE 2B - MENDEL PAPER COMPANY Mendel Paper Company produces four basic paper product lines at one of its plants: computer paper, napkins, place mats, and poster board. Materials and operations vary according to the line ...

  • 4,153,160 Questions Asked
  • 13,132 Experts
  • 2,558,936 Questions Answered

Ask Experts for help!!

Looking for Assignment Help?

Start excelling in your Courses, Get help with Assignment

Write us your full requirement for evaluation and you will receive response within 20 minutes turnaround time.

Ask Now Help with Problems, Get a Best Answer

WalMart Identification of theory and critical discussion

Drawing on the prescribed text and/or relevant academic literature, produce a paper which discusses the nature of group

Section onea in an atwood machine suppose two objects of

SECTION ONE (a) In an Atwood Machine, suppose two objects of unequal mass are hung vertically over a frictionless

Part 1you work in hr for a company that operates a factory

Part 1: You work in HR for a company that operates a factory manufacturing fiberglass. There are several hundred empl

Details on advanced accounting paperthis paper is intended

DETAILS ON ADVANCED ACCOUNTING PAPER This paper is intended for students to apply the theoretical knowledge around ac

Create a provider database and related reports and queries

Create a provider database and related reports and queries to capture contact information for potential PC component pro