Ivy CFIN Quizzes 1-7 100% Verified Latest Update
Which of the following is not a step in FRITCO analysis?
a. Flexibility
b. Risk
c. Income
d. All the above are steps
d. All the above are steps
a. Flexibility
b. Risk
c. Income
The statement that shows all investments in the company and all the distributions during
a reporting period is called
a. the cash flow statement.
b. the working capital statement.
c. the sources and uses of funds statement
d. the statement of owner's equity.
e. none of the above.
d. the statement of owner's equity.
,The statement which records a firm's financial position on a single day is called the
income statement. T/F
False
Comprehensive Income of the period is shown on the
a. Income Statement
b. Balance Sheet
c. Statement of Retained Earnings
d. None of the above
a. Income Statement
Depreciation expense is a good example of which of the following generally accepted
accounting principles?
a. Relevance
b. Matching
c. Reliability
d. Understandability
b. Matching
, Generally speaking, large increases in sales by a company require more investments in
inventories and receivables. T/F
True
Which ratio shows the average percentage by which sales price exceeds the cost of
goods sold?
a. profit margin
b. asset turnover
c. gross margin
d. receivables turnover
e. return on assets
c. gross margin
Depreciation is a noncash expense. T/F
True
Which of the following is not a step in FRITCO analysis?
a. Flexibility
b. Risk
c. Income
d. All the above are steps
d. All the above are steps
a. Flexibility
b. Risk
c. Income
The statement that shows all investments in the company and all the distributions during
a reporting period is called
a. the cash flow statement.
b. the working capital statement.
c. the sources and uses of funds statement
d. the statement of owner's equity.
e. none of the above.
d. the statement of owner's equity.
,The statement which records a firm's financial position on a single day is called the
income statement. T/F
False
Comprehensive Income of the period is shown on the
a. Income Statement
b. Balance Sheet
c. Statement of Retained Earnings
d. None of the above
a. Income Statement
Depreciation expense is a good example of which of the following generally accepted
accounting principles?
a. Relevance
b. Matching
c. Reliability
d. Understandability
b. Matching
, Generally speaking, large increases in sales by a company require more investments in
inventories and receivables. T/F
True
Which ratio shows the average percentage by which sales price exceeds the cost of
goods sold?
a. profit margin
b. asset turnover
c. gross margin
d. receivables turnover
e. return on assets
c. gross margin
Depreciation is a noncash expense. T/F
True
