Social Science Economics Finance
WGU C213 | WGU C213 PRE ASSESSMENT AND WELL
ELABORATED ANSWERS TOP RATED VERSION FOR
ALREADY A GRADED WITH EXPERT FEEDBACK | NEW
AND REVISED
Save
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Flashcard sets Study guides
HNF 105 Accounting Exam 3 FCCS Exam
115 terms 79 terms Teacher 49 terms
Preview FAITH_MUIA4 Preview quizlette63768259
What does accounting focus The impact a business's activities have on its overall financial
on? performance
Which report summarizes cash Statement of cash flows
collections and cash
expenditures from operating,
investing, and financing activities
over a period of time?
Which users would have a Employees
primary concern with an
organization's ability to provide
healthcare benefits?
Which body regulates a certified The Public Company Accounting Oversight Board (PCAOB)
public accounting firm's audit
practices when the firm is
auditing a large publicly traded
company?
What has had the most Information technology
significant impact on accounting
practices?
What two items of information Ownership.
are revealed on the balance Debt
sheet?
Choose 2 answers
Which term is defined as the Owners' equity
residual interest in the net assets
of a company?
,A corporation has total liabilities $350 million
of $300 million, total owners'
equity of $100 million, and
current assets of $50 million.
What is the value of the firm's
long-term assets?
Which situation should result in In 2014, a company provides services to a customer for which
revenue recognition on the cash will be collected the next year (2015).
income statement for the year
ending 12/31/14 if the firm is
using accrual-basis accounting?
Which category on the Cash flows from financing activities
statement of cash flows
summarizes cash receipts and
payments to owners and
creditors of the company?
Where would an investor find a In the notes to financial statements
summary of a company's
significant accounting policies?
See an expert-written answer!
Which assurance does an The company's financial statements fairly reflect its financial
external audit report provide for position
its readers?
Reliable Information that can be verified
Relevant Information having to do with the matter at hand
Material Information that is important enough to make a difference
Conservatism Information related to recognizing losses as they occur
1 Prepare financial statements.
2 Analyze financial statements.
steps in the decision cycle 3 Gather information.
4 Make decision.
5 Implement decision
Partial financial information for a 11.0
company is as follows:
Current assets $36,543
Total assets $58,719
Current liabilities $24,824
Total liabilities $48,561
Stockholders' equity $10,158
Sales $46,997
Net Income $ 3,761
Market value of shares $41,316
What is the price-earnings (PE)
ratio for this company?
, What is consistent with a Continual decrease in sales
continual decline in gross profit
if the firm's cost of goods sold
remains the same?
Which two cash flow adequacy $6,991/$5,486. $5,220/$1,875.
ratios represent a cash cow?
Which formula yields a cash Cash before interest and taxes of $11,000 / cash paid for interest
times interest earned ratio of 11? of $1,000
Which form of debt should be Notes payable expected to be paid in 18 months
reported in the long-term
liability category?
WGU C213 | WGU C213 PRE ASSESSMENT AND WELL
ELABORATED ANSWERS TOP RATED VERSION FOR
ALREADY A GRADED WITH EXPERT FEEDBACK | NEW
AND REVISED
Save
Students also studied
Flashcard sets Study guides
HNF 105 Accounting Exam 3 FCCS Exam
115 terms 79 terms Teacher 49 terms
Preview FAITH_MUIA4 Preview quizlette63768259
What does accounting focus The impact a business's activities have on its overall financial
on? performance
Which report summarizes cash Statement of cash flows
collections and cash
expenditures from operating,
investing, and financing activities
over a period of time?
Which users would have a Employees
primary concern with an
organization's ability to provide
healthcare benefits?
Which body regulates a certified The Public Company Accounting Oversight Board (PCAOB)
public accounting firm's audit
practices when the firm is
auditing a large publicly traded
company?
What has had the most Information technology
significant impact on accounting
practices?
What two items of information Ownership.
are revealed on the balance Debt
sheet?
Choose 2 answers
Which term is defined as the Owners' equity
residual interest in the net assets
of a company?
,A corporation has total liabilities $350 million
of $300 million, total owners'
equity of $100 million, and
current assets of $50 million.
What is the value of the firm's
long-term assets?
Which situation should result in In 2014, a company provides services to a customer for which
revenue recognition on the cash will be collected the next year (2015).
income statement for the year
ending 12/31/14 if the firm is
using accrual-basis accounting?
Which category on the Cash flows from financing activities
statement of cash flows
summarizes cash receipts and
payments to owners and
creditors of the company?
Where would an investor find a In the notes to financial statements
summary of a company's
significant accounting policies?
See an expert-written answer!
Which assurance does an The company's financial statements fairly reflect its financial
external audit report provide for position
its readers?
Reliable Information that can be verified
Relevant Information having to do with the matter at hand
Material Information that is important enough to make a difference
Conservatism Information related to recognizing losses as they occur
1 Prepare financial statements.
2 Analyze financial statements.
steps in the decision cycle 3 Gather information.
4 Make decision.
5 Implement decision
Partial financial information for a 11.0
company is as follows:
Current assets $36,543
Total assets $58,719
Current liabilities $24,824
Total liabilities $48,561
Stockholders' equity $10,158
Sales $46,997
Net Income $ 3,761
Market value of shares $41,316
What is the price-earnings (PE)
ratio for this company?
, What is consistent with a Continual decrease in sales
continual decline in gross profit
if the firm's cost of goods sold
remains the same?
Which two cash flow adequacy $6,991/$5,486. $5,220/$1,875.
ratios represent a cash cow?
Which formula yields a cash Cash before interest and taxes of $11,000 / cash paid for interest
times interest earned ratio of 11? of $1,000
Which form of debt should be Notes payable expected to be paid in 18 months
reported in the long-term
liability category?
