Question Completion Status: QUESTION 1 1. The ____________________ is a type of financial statement that indicates the worth or financial condition of a business as of a certain date. income statement ratio statement balance sheet vertical analy
Question Completion Status:
QUESTION 1
1.The ____________________ is a type of financial statement that indicates the worth or financial condition of a business as of a certain date.
income statement
ratio statement
balance sheet
vertical analysis
10 points
QUESTION 2
1._________ assets are assets that are normally turned into cash within a year.
Liquid
Nonliquid
Current
Historical
10 points
QUESTION 3
1._______ and _________ are assets that are used in transacting business and are more long term in nature.
Plant and equipment
Accounts and receivables
Notes and cash
Merchandise and inventory
10 points
QUESTION 4
1.___________ are amounts that the business owes.
Assets
Liabilities
Receivables
Inventories
10 points
QUESTION 5
1.Capital, proprietorship, and net worth are all terms that refer to owner’s _______.
liabilities
debts
equity
cash
10 points
QUESTION 6
1.A __________ analysis of a balance sheet shows the ratio of each item on the balance sheet to the total assets.
horizontal
current
wage
vertical
10 points
QUESTION 7
1.A(n) ___________ analysis compares the same item for two different years.
vertical
current
horizontal
inventory
10 points
QUESTION 8
1.The ___________ statement shows the net income of a business over a period of years.
income
expenditure
liability
loss
10 points
QUESTION 9
1.______ sales is the difference between the total sales and sales returns or allowances.
Gross
Surplus
Discounted
Net
10 points
QUESTION 10
1.________ profit is the difference between the net sales and the cost of goods sold.
Net
Surplus
Gross
Incidental