Assets are listed on the statement of financial position in:

Select one:

a. Order of increasing size.

b. Order of decreasing liquidity.

c. Order of preference in bankruptcy.

d. Order of importance to the firm.

A common-size statement of comprehensive income is defined as a financial statement wherein all items are expressed as a percentage of:

Select one:

a. Their prior year's value.

b. Their projected value.

c. Sales.

d. Total assets.

A $40,000 asset was purchased and classified as a Class 10 asset for CCA purposes. If the CCA rate is 30%, calculate UCC for the end of year 1.

Select one:

a. $7,800

b. $6,000

c. $34,000

d. $10,200

Larry's Lounge has cash of $1,670, accounts receivable of $610, accounts payable of $2,900, and inventory of $3,690. What is the value of the quick ratio?

Select one:

a. 0.62

b. 0.58

c. 0.79

d. 1.27

Calculate the value of long-term debt given the following information: total debt = $320,000; debt/equity ratio = 1.0; long-term debt ratio = 0.3750.

Select one:

a. $235,000

b. $245,000

c. $240,000

d. $230,000

How would a $5,000 increase in AR and a $2,000 decrease in inventory affect cash?

Select one:

a. $3000 source

b. $2,000 source; $5,000 use

c. $5,000 source; $2,000 use

d. $7000 source