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Accounting Expert Answers & Study Resources : Page 3

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  136. Trend analysis is also called: A. Trend percent analysis. B. Financial analysis. C. Index number analysis. D. Trend percent analysis and index number analysis. E. Financial analysis and index number analysis. 137. The dollar change for a financial statement is calculated by: A. Subtracting the analysis period amount from the base period amount. B. Subtracting the base.

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  •   136. Trend analysis also called: A. Trend percent analysis. B. Financial analysis. C.
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  126. Comparison standards for financial statement analysis include: A. Intracompany. B. Competition. C. Industry. D. Guidelines. E. All of these answers are correct. 127. Intracompany standards for financial statement analysis: A. Are based on a company's prior performance. B. Are set by competitors. C. Are set by the company's industry. D. Are based on rules of thumb. E. Are based on.

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  •   126. Comparison standards for financial statement analysis include: A. Intracompany. B. Competition. C.
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  141. Common-size financial statements are useful in: A. Analyzing income statements. B. Analyzing companies of different sizes. C. Alerting users of differences that should be explored and explained. D. Comparing different geographical regions of a company. E. All of these answers are correct. 142. Comparative financial statements in which each amount is expressed as a percentage.

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  •   141. Common-size financial statements useful in: A. Analyzing income statements. B. Analyzing
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11. Financial analysis refers to the communication of relevant financial information to decision makers. 12. Standards for comparison of performance are necessary when making judgments about a company's performance. 13. Standards for comparison for interpreting financial statement analysis include: intracompany, credit standing, and industry. 14. Analysis measures taken from a selected competitor or.

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  • 11. Financial analysis refers to the communication of relevant financial
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  166. The quick assets are: A. Cash, short-term investments, prepaid expenses. B. Cash, short-term investments, accounts receivable. C. Cash, inventory, accounts receivable. D. Cash, accounts receivable, prepaid expenses. E. Accounts receivable, inventory, prepaid expenses. 167. Macie's quick assets were $5 million. Its current assets were $11 million. Its current liabilities were $8 million. The acid-test ratio.

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  •   166. The quick assets are: A. Cash, short-term investments, prepaid expenses. B.
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  146. Current assets minus current liabilities is called: A. Profit margin. B. Financial leverage. C. Current ratio. D. Working capital. E. Quick assets. 147. Current assets divided by current liabilities is called the: A. Current ratio. B. Quick ratio. C. Working ratio. D. Liquidity ratio. E. Solvency ratio. 148. The average number of times a company's inventory is sold during an accounting.

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  •   146. Current assets minus current liabilities called: A. Profit margin. B. Financial
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  121. Financial reporting refers to: A. The communication of relevant financial information to decision makers. B. The application of analytical tools to general-purpose financial statements. C. Financial statements only. D. Ratio analysis. E. The application of analytical tools to general-purpose financial statements and ratio analysis. 122. The ability to meet short-term obligations and to efficiently generate.

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  •   121. Financial reporting refers to: A. The communication of relevant financial
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335. Match each of the following terms with the appropriate definitions. 1. Financial reporting Refers to the availability of resources to meet short-term cash requirements.   2. Efficiency The application of analytical tools to general-purpose financial statements and related data for making business decisions.   3. Financial statement analysis Refers to a company's long-run financial viability and its.

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  • 335. Match each of the following terms with the appropriate
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6. Profitability is the ability to generate future revenues and meet long-term obligations. 7. Liquidity and efficiency are considered to be building blocks of financial statement analysis. 8. Evaluation of company performance includes (1) past and current performance, (2) current financial position, and (3) future performance and risk. 9. The four building blocks.

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  • 6. Profitability the ability to generate future revenues and meet
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331. Accounts receivable turnover is calculated by dividing ______________ by __________________. 332. The formula for calculating total asset turnover is ___________________. 333. ______________________ is the annual amount of cash dividends per share distributed to common shareholders relative to the stock's market price. 334. Return on total assets is calculated by dividing _____________ by.

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  • 331. Accounts receivable turnover calculated by dividing ______________ by __________________. 332.
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  161. Bobbytronics had $7,000,000 in net income for the year. Its sales were $11,200,000. Calculate the profit margin. A. 17.5%. B. 62.5%. C. $34 million. D. $4.2 million. E. 28%. 162. FastForward had $3,000 of net income for October. Total revenues were $10,000. Calculate the profit margin. A. 30%. B. $7,000. C. 15%. D. $1,500. E. 45%. 163. The current ratio: A. Is.

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  •   161. Bobbytronics had $7,000,000 in net income for the year.
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  131. Analytical tools comparing a company's financial condition and performance across time are: A. Horizontal analysis. B. Vertical analysis. C. Ratio analysis. D. Financial analysis. E. Investment analysis. 132. Tools using key relationships among financial statement items are: A. Financial analysis. B. Horizontal analysis. C. Investment analysis. D. Ratio analysis. E. Vertical analysis. 133. Tools comparing a company's financial condition and performance.

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  •   131. Analytical tools comparing a company's financial condition and performance
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  186. Jolly Co. had net sales of $111,500 and accounts receivable of $12,700. Its days' sales uncollected was: A. 11.7. B. 23.3. C. 41.6. D. 42.5. E. 46.6. 187. Hornish Co. had net sales of $5,265 million and accounts receivable of $225 million. Its days' sales uncollected was: A. 2.98. B. 15.6. C. 19.4. D. 81.8. E. 65.2. 188. Accounts receivable turnover.

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  •   186. Jolly Co. had net sales of $111,500 and accounts
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116. Financial statement analysis: A. Is the application of analytical tools to general-purpose financial statements and related data for making business decisions and helps users to make better decisions. B. Lessens the need for expert judgment. C. Helps users to make better decisions. D. Is the application of analytical tools to general-purpose financial statements.

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  • 116. Financial statement analysis: A. Is the application of analytical tools
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