Answered>Order 25913
Accounting and Analysis Quiz
Question 1 Earnings available to common stockholders is equal to:
Net income + Preferred stock dividends
Preferred stock dividends – Net income
Net income – Preferred stock dividends
Total revenues
$60,000 increase
$30,000 decrease
$60,000 decrease
$30,000 increase
Question 3 Common stock is reported on the
statement of cash flows.
retained earnings statement.
income statement.
balance sheet.
Question 4 A business organized as a separate legal entity is a
corporation.
proprietor.
government unit.
partnership.
Question 5 The statement of cash flows begins with cash flows from
financing activities.
investing activities.
operating activities.
solvent activities
Question 6 Expenses are incurred
only on rare occasions.
to produce assets.
to produce liabilities.
to generate revenues.
Question 7 Using the following balance sheet and income statement data, what is the current ratio?
Current assets
14,000
Net income
24,000
Current liabilities
8,000
Stockholders’ equity
42,000
Average assets
80,000
Total liabilities
18,000
Total assets
60,000Average common shares outstanding was 10,000
1.75 : 1
1.6 : 1
0.57 : 1
3.3 : 1
Question 8 Which organization issues U.S. accounting standards?
Security Exchange Commission.
International Accounting Standards Committee.
International Auditing Standards Committee.
Financial Accounting Standards Board.
Current assets
9,000
Net income
12,000
Current liabilities
4,000
Stockholders’ equity
24,000
Average assets
44,000
Total liabilities
6,000
Total assets
30,000Average common shares outstanding was 10,000
$1.20
$2.00
$0.83
$0.44
Question 10 Which of the following clarifies information presented in the financial statements, as well as expanding upon it where additional detail is needed?
Auditor’s report
Management discussion and analysis section
Notes to the financial statements
President’s state of the company report
"Not answered?"
