10. Match the following definitions: (2p each, total 20p) The ability to convert an asset into cash quickly without a significant loss of its value. Raw materials, work in progress, and finished goods held by the firm for eventual sale. ( ) Expenses that have been incurred but neither the related invoice received nor paid. ( ) A noncash expense to allocate the cost of depreciable assets, such as plant and equipment, over the life of the asset. (Money owed to suppliers for goods or services purchased (Investors who own the firm's common stock () The difference between a firm's current assets and its current liabilities ( ) Cumulative undistributed profits A statement in which the items are expressed as a percentage of total assets. (Sales on credit divided by accounts receivable (Note that only 10 of the choices to be matched) a) Accounts Receivable c) Assets turnover e) Common-sized Balance Sheet g) Common stockholders i) Depreciation Expense k) Earnings per share m) Inventory o) Net working capital a) Receivables turnover s) Trade Credit b) Accrued Expenses d) Budgeted Expenses f) Common-sized Income Statement h) Cumulative Depreciation j) Dividends 1) Liquidity n) Inventory turnover p) Paid in capital r) Retained earnings t) Working capital 11. State name of the statement in which the following items belongs to: (1p each, total 10p) Income Statement Balance Sheet ( ) () A. Inventory B. Accumulated Depreciation C. Plant & Equipment D. Interest Expense E. Cash F. Depreciation Expense G. Short Term Notes Payable H. Sales I. Long Term Debt J. Tax Cocos Cocos