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5 Written questions

5 Matching questions

  1. noncurrent liabilities
  2. tests of profitability, tests of overall performance, liquidity, solvency, tests of efficiency
  3. dupont model, ROE
  4. Income statement items
  5. accounts payable
  1. a debts that will come due after the current operating cycle of the business (5 year car loans)
  2. b 5 topics ratio analysis covers
  3. c Revenues, COGS, gross margin, operating expenses, depreciation expense, net income
  4. d debts that arise from purchase of goods or services on credit
  5. e NI% x ATO x financial leverage

5 Multiple choice questions

  1. estimate, non-cash outlay
  2. a)in the same accounting period as the associated revenue b)in period when associated good or service is used (b is for pharmacies)
  3. What's the biggest expense in a pharmacy?
  4. indicates how long it takesthe pharmacy to pay its credit purchases need 2 balance sheets- one for beginning inventory, one for end (COGS=BI+P+EI), digest says 22.4 days
  5. debts evidenced by formal, signed agreements called promissory notes

5 True/False questions

  1. 3.0%Net profit % NCPA digest 2008

          

  2. Income statementRevenues, COGS, gross margin, operating expenses, depreciation expense, net income

          

  3. current liabilitiesconsist of those debts that will come due during the current operating cycle of business (accounts payable, short term notes, accrued expenses, and current portion of long term debts)

          

  4. financial statementshow the final information of accounting is communicated

          

  5. Inventory turnovermeasures how efficiently the pharmacies total assets are used: Sales/total assets, high is desirable NCPA digest 5.09