C213 ACTUAL TEST PAPER FULL
QUESTIONS AND ACCURATE ANSWERS
GRADED APLUS
●● Income Statement
Answer: Financial performance of the company over a period of time
●● Statement of cash flows
Answer: cash receipts and disbursements of company over a period of
time
●● Lender
Answer: Predict ability to repay loans
●● Investors
Answer: Predict future earnings and dividends
●● Suppliers & Customers
Answer: ability to pay for goods and honor contracts
●● Company management
Answer: analyze company's strengths and weaknesses
,●● Accounting equation
Answer: Assets = Liabilities + Owner's Equity
●● Assets
Answer: resources, typically owned by the company
●● Liabilities
Answer: Obligations or debts of the company
●● Owners equity
Answer: direct and indirect investments owners (stockholders) have
made
●● Liquidity
Answer: the ease with which an asset can be converted into cash
●● current assets
Answer: cash and other assets expected to be exchanged for cash or
consumed within a year
●● Accounts Receivable
, Answer: Amounts owed by customers as a result of credit sales, usually
collected in cash within 60 days of the sale.
●● Short-term investments
Answer: investments in stocks or bonds of another company that the
company plans to sell within 12 monts
●● long term assets
Answer: assets the company does not expect to convert to cash or
consume within 12 months
●● Long-term investments
Answer: investments in stock or bonds of another company that the
company does not plan to sell within 12 months
●● Property, plant, and equipment (PP&E)
Answer: Land, buildings, machinery, and tools.
●● intangible assets
Answer: assets that have to physical or tangible characteristics (patents,
copyrights, and trademarks)
●● Current Liabilities
QUESTIONS AND ACCURATE ANSWERS
GRADED APLUS
●● Income Statement
Answer: Financial performance of the company over a period of time
●● Statement of cash flows
Answer: cash receipts and disbursements of company over a period of
time
●● Lender
Answer: Predict ability to repay loans
●● Investors
Answer: Predict future earnings and dividends
●● Suppliers & Customers
Answer: ability to pay for goods and honor contracts
●● Company management
Answer: analyze company's strengths and weaknesses
,●● Accounting equation
Answer: Assets = Liabilities + Owner's Equity
●● Assets
Answer: resources, typically owned by the company
●● Liabilities
Answer: Obligations or debts of the company
●● Owners equity
Answer: direct and indirect investments owners (stockholders) have
made
●● Liquidity
Answer: the ease with which an asset can be converted into cash
●● current assets
Answer: cash and other assets expected to be exchanged for cash or
consumed within a year
●● Accounts Receivable
, Answer: Amounts owed by customers as a result of credit sales, usually
collected in cash within 60 days of the sale.
●● Short-term investments
Answer: investments in stocks or bonds of another company that the
company plans to sell within 12 monts
●● long term assets
Answer: assets the company does not expect to convert to cash or
consume within 12 months
●● Long-term investments
Answer: investments in stock or bonds of another company that the
company does not plan to sell within 12 months
●● Property, plant, and equipment (PP&E)
Answer: Land, buildings, machinery, and tools.
●● intangible assets
Answer: assets that have to physical or tangible characteristics (patents,
copyrights, and trademarks)
●● Current Liabilities
