Questions Accounting for Managers - 1827 Words

| 1. | Cash is another term for Stockholders’ Equity. | | | | True | | x| False | | | | Score: 1 of 1 | | 2. | Explanatory notes and supporting schedules are an optional part of an annual report. | | | | | True | | x | False | | | | Score: 1 of 1 | | 3. | Debt securities sold to investors that must be repaid at a particular date some years in the future are called | | | | | accounts payable. | | | notes receivable. | | | taxes payable. | | x | bonds payable. | | | | Score: 0 of 1 | | 4. | Which activities involve acquiring the resources to run the business? | | | | | Delivering | | | Financing | | x | Investing | | | Operating | | | | Score:†¦show more content†¦| | | | | $2. 76 | | x | $2. 50 | | | $1. 25 | | | $1. 32 | | | | Score: 1 of 1 | | 17. | Using the following balance sheet and income statement data, what is the current ratio? Current assets | $9,000 | Net income | $12,000 | Current liabilities | 4,000 | Stockholders’ equity | 27,000 | Average assets | 44,000 | Total liabilities | 6,000 | Total assets | 30,000 | | | Average common shares outstanding was 10,000 | | | | | 1. 75 : 1 | | | 2. 00 : 1 | | | 0. 44 : 1 | | | 2. 25: 1 | | | | Score: 1 of 1 | | 18. | What organization issues U. S. accounting standards? | | | | | Security Exchange Commission. | | | International Accounting Standards Committee. | | | International Auditing Standards Committee. | | | Financial Accounting Standards Board. | | | | Score: 1 of 1 | | 19. | The going concern assumption is inappropriate when | | | | | the business is just starting up. | | | liquidation appears likely. | | | market values are higher than costs. | | | the business is organized as a proprietorship. | | | | Score: 1 of 1 | | 20. | It is assumed that the activities of Ford Motor Corporation can be distinguished from those of General Motors because of the | |Show MoreRelated3101AFE Seminar Questions from Seminars 1 6 Sem 1 20151558 Words   |  7 Pagesï » ¿3101AFE Accounting Theory and Practice Seminar Questions for Seminars 1- 6: Semester 1 2015 SEMINAR 1 - Semester 1 2015 Deegan Topic 1: Introduction to financial accounting theory QUESTION 1 – Question 1.2: If you developed a theory to explain how a person’s cultural background influences how they prepare financial statements, would you have developed a positive theory or a normative theory? QUESTION 2 - Question 1.3: What is a conceptual framework, and would it be considered to be a positiveRead MoreEthics in Earnings Management Essays1320 Words   |  6 Pagesresults to meet the goals set forth (Geiger van der Laan Smith, 2010). In addition to the pressures on company management, broad accounting principles introduce ethical issues into the accounting profession (Gibson, 2011). Merchant and Rockness (1994) suggested the practice of earnings management introduces â€Å"the most important ethical issues facing the accounting profession† (p. 79) while Rosenzweig and Fischer (1994) noted it to be â€Å"a significant ethical concern† (para. 18). The following isRead MoreYou Decide1023 Words   |  5 PagesName __Randy Stonecrest_______________ Course Section __HR 599_________ Date ____April 9, 2012______ Scenario Summary: A supervisor in a large accounting firm is scheduled to interview a job candidate who comes highly recommended and has excellent qualifications. 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