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5 Written questions

5 Matching questions

  1. Average tax rate
  2. Working capital =
  3. Marginal taxes
  4. Generally Accepted Accounting Principles (GAAP)
  5. Liabilities are
  1. a the common set of standards and procedures by which audited financial statements are prepared
  2. b the percentage paid on teh next dollar earned
  3. c listed in terms of who gets paid first
  4. d current assets
  5. e total taxes paid divided by total taxable income (the percentage of your income that goes to pay taxes)

5 Multiple choice questions

  1. listed in order of liquidity (descending)
  2. (1) Par value (2) Paid-in capital in excess of par (3) Retained earnings
  3. Gross Fixed Assets - Accumulated Depreciation
  4. expenses charged against revenues that do not directly affect cash flow, such as depreciation.
  5. equipment; buildings; goodwill

5 True/False questions

  1. Cash flow from assetsthe total of cash flow to creditors and cash flow to stockholders, consisting of the following: operating cash flow, capital spending, and changes in net working capital


  2. Net working capitalcurrent assets less current liabilities


  3. Income statementfinancial statement showing a firm's accounting value on a particular date


  4. Current assetsequipment; buildings; goodwill


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