1. Which of the following would be listed as a current liability? A) Cash B) Notes payable due in two years C) Bank loan due in 10 years D) Accounts payable 2. Data from ratio analysis can be: A) compared to particular competitors in the industry. B) compared to the company ratio data in previous years. C) compared to industry averages. D) all of the answers are acceptable. 3. An asset with a cost of $20,000 with a residual value of $2,000 and a useful life of 5 years is depreciated using the straight-line method. What is the annual cost of depreciation? A) $4,000 B) $3,600 C) $4,400 D) $3,000 4. Using the income statement approach for AFDA. What would the bad debt expense be if in 2023 credit sales were $300,000 and the estimated loss percentage was 2% ? A $600 B) $6,000 C) $60,000 D) $60 5. An acid test ratio includes which assets in its calculation? A) cash, short term investments, accounts receivable \& inventory B) cash, short term investments, accounts receivable C) cash, short term investments, accounts receivable, inventory \& prepaids D) cash and accounts receivable