NAME: ________________________

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5 Written Questions

5 Matching Questions

  1. Noncash items
  2. Balance sheet
  3. Cash flow to creditors
  4. Fixed assets
  5. Current assets
  1. a equipment; buildings; goodwill
  2. b financial statement showing a firm's accounting value on a particular date
  3. c a firm's interest payments to creditors less net new borrowings
  4. d cash; inventory; accounts receivable
  5. e expenses charged against revenues that do not directly affect cash flow, such as depreciation.

5 Multiple Choice Questions

  1. Gross Fixed Assets - Accumulated Depreciation
  2. financial statement summarizing a firm's performance over a period of time, usually a quarter or a year
  3. amount of tax payable on the next dollar earned
  4. current assets
  5. the percentage paid on teh next dollar earned

5 True/False Questions

  1. Owners Equitylisted in order of liquidity (descending)


  2. Operating cash flowcash generated from a firm's normal business activities (of producing and selling).


  3. Generally Accepted Accounting Principles (GAAP)the common set of standards and procedures by which audited financial statements are prepared


  4. Average taxesthe tax bill/taxable income


  5. Average tax ratethe tax bill/taxable income


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