ACCT 2302 EXAM 1 | QUESTIONS AND ANSWERS |
2025/26 UPDATE | 100% CORRECT
Financial statement analysis applies _____ tools to financial statements for
decision-making. Answer - analytical
Financial statement analysis provides information to internal users to improve:
Answer - efficiency and effectiveness
This building block reveals a company's ability to generate future revenues and
meet long-term obligations. Answer - solvency
General-purpose financial statements include all of the following except:
Answer - general ledger accounts
Apple Company compares its first quarter sales revenue for the current year
with its previous year's first quarter sales revenue. This is an example of what
type of comparison? Answer - intracompany
Comparison of a company's financial condition and performance to a base
amount is an example of what type of analysis? Answer - vertical analysis
Horizontal analysis is the review of financial statement data across time and
the term horizontal comes from the _____ movement of our eyes as we review
comparative financial statements: Answer - left-to-right
2025/26 UPDATE | 100% CORRECT
Financial statement analysis applies _____ tools to financial statements for
decision-making. Answer - analytical
Financial statement analysis provides information to internal users to improve:
Answer - efficiency and effectiveness
This building block reveals a company's ability to generate future revenues and
meet long-term obligations. Answer - solvency
General-purpose financial statements include all of the following except:
Answer - general ledger accounts
Apple Company compares its first quarter sales revenue for the current year
with its previous year's first quarter sales revenue. This is an example of what
type of comparison? Answer - intracompany
Comparison of a company's financial condition and performance to a base
amount is an example of what type of analysis? Answer - vertical analysis
Horizontal analysis is the review of financial statement data across time and
the term horizontal comes from the _____ movement of our eyes as we review
comparative financial statements: Answer - left-to-right
