ACCT 201A Final Exam Review CSUF
Questions And Answers
Working Capital -
correct answer ✅current assets - current liabilities
Current Ratio -
correct answer ✅current assets - current liabilities
Debt to Assets Ratio Formula -
correct answer ✅Total Debt/Total Assets
AR turnover ratio -
correct answer ✅Net Credit Sales/Average AR
Inventory Turnover Ratio -
correct answer ✅COGS/Average Inventory
Gross Profit Rate -
correct answer ✅Gross Profit/Net Sales
Profit Margin Ratio -
correct answer ✅Net Income/Net Sales
,ACCT 201A Final Exam Review CSUF
Questions And Answers
Income Statement -
correct answer ✅A financial statement showing:
Revenues
Expenses
Net Income
Net Income is needed to determine the... -
correct answer ✅...ending balance in Retained Earnings.
Retained Earnings Statement -
correct answer ✅A financial statement that summarizes the
amounts and causes of changes in retained earnings for a specific
time period:
Retained earnings, starting date
Add: Net Income
Less: Dividends
,ACCT 201A Final Exam Review CSUF
Questions And Answers
Retained earnings, end date.
Balance Sheet -
correct answer ✅A financial statement that reports assets,
liabilities, and stock holders' equity on a specific date:
Assets
Liabilities and Stockholders' Equity
Liabilities
Stockholders' equity
Ending balance in retained earnings is need in preparing... -
correct answer ✅...the balance sheet.
Statement of Cash Flows -
correct answer ✅A financial statement that provides financial
information about the cash receipts and cash payments of a
business for a specific period of time:
, ACCT 201A Final Exam Review CSUF
Questions And Answers
Cash flows from operating activities
Cash flows from investing activities
Cash flows from financing activities
Net Increase in cash
Cash at beginning of period
Cash at end of period
What are the 4 component of the assets section in a Classified
Balance Sheet? -
correct answer ✅Current assets
Long-term investments
Property, plant, and equipment
Questions And Answers
Working Capital -
correct answer ✅current assets - current liabilities
Current Ratio -
correct answer ✅current assets - current liabilities
Debt to Assets Ratio Formula -
correct answer ✅Total Debt/Total Assets
AR turnover ratio -
correct answer ✅Net Credit Sales/Average AR
Inventory Turnover Ratio -
correct answer ✅COGS/Average Inventory
Gross Profit Rate -
correct answer ✅Gross Profit/Net Sales
Profit Margin Ratio -
correct answer ✅Net Income/Net Sales
,ACCT 201A Final Exam Review CSUF
Questions And Answers
Income Statement -
correct answer ✅A financial statement showing:
Revenues
Expenses
Net Income
Net Income is needed to determine the... -
correct answer ✅...ending balance in Retained Earnings.
Retained Earnings Statement -
correct answer ✅A financial statement that summarizes the
amounts and causes of changes in retained earnings for a specific
time period:
Retained earnings, starting date
Add: Net Income
Less: Dividends
,ACCT 201A Final Exam Review CSUF
Questions And Answers
Retained earnings, end date.
Balance Sheet -
correct answer ✅A financial statement that reports assets,
liabilities, and stock holders' equity on a specific date:
Assets
Liabilities and Stockholders' Equity
Liabilities
Stockholders' equity
Ending balance in retained earnings is need in preparing... -
correct answer ✅...the balance sheet.
Statement of Cash Flows -
correct answer ✅A financial statement that provides financial
information about the cash receipts and cash payments of a
business for a specific period of time:
, ACCT 201A Final Exam Review CSUF
Questions And Answers
Cash flows from operating activities
Cash flows from investing activities
Cash flows from financing activities
Net Increase in cash
Cash at beginning of period
Cash at end of period
What are the 4 component of the assets section in a Classified
Balance Sheet? -
correct answer ✅Current assets
Long-term investments
Property, plant, and equipment
