Question 501
Which financial statement provides information about a company's operating, investing, and financing activities?
Question 502
On January 1, a business exchanged a plant asset with a book value of $1,500 for a similar asset that had a price of $23,000. The business received a trade-in allowance of $2,100 on the old plant asset.
The income-tax method was used to record this trade. What was the result of the exchange?
The income-tax method was used to record this trade. What was the result of the exchange?
Question 503
Consider a normal distribution with MU = 67 and SIGMA = 144. If each score is raised by 7 points, what percentage of the new scores is less than 74?
Question 504
Business cycles are generally considered in:
Question 505
Which of the following statements is true when analyzing a company's financial ratios?
I). Ratios only measure effects; they do not say anything about the causes that led to that particular effect.
II). As long as the accounting methods used are similar, it is possible to compare two companies even if they operate in different industries.
III). The usefulness of ratio largely depends on the assumption that future relationships between accounting variables will largely be independent to that of the past.
IV). Balance sheets would be more reflective of economic reality if replacement cost figures were used instead.
I). Ratios only measure effects; they do not say anything about the causes that led to that particular effect.
II). As long as the accounting methods used are similar, it is possible to compare two companies even if they operate in different industries.
III). The usefulness of ratio largely depends on the assumption that future relationships between accounting variables will largely be independent to that of the past.
IV). Balance sheets would be more reflective of economic reality if replacement cost figures were used instead.