Hi! Can someone review this document and tell me how accurate the answers are ? Please !

1. Horizontal analysis examines how an account, like cash for example, changes over time. A) True 2. Principles of vertical analysis are used to prepare common size financial statements. A) True 3. Factors such as industry trends and economic conditions should not be ignored when analyzing a company. A) True 4. A common size income statement would report inventory as a percentage rate, not as a dollar amount. A) True 5. The ability of a business to pay its debt is called liquidity. B) False 6. Assets and earnings are reported on balance sheets. A) True False 7.Working capital measures the abilty of a business to pay off its short term debt. B) False 8. Current ratios are used to analyze profitability. B) False 9. Quick ratio calculations analyze earnings. A) True False 10. Liquidity, solvency, and profitability are interrelated. A) True False 11. All else being equal, turning receivables over more often improves liquidity. A) True 12. All else being equal, the lower the inventory turnover the more days sales in inventory. B) False True 13. Research suggests that salaries paid to CFO's are linked to meeting earnings forecasts made by financial analysts. B) False 14. GAAP requires CPA's to express unqualified opinions when auditing financial statements. A) True 15. By definition, all extraordinary items must be both unusual in nature and infrequent in occurence. A) True 16. GAAP requires separate earnings per share calculations for income from contiuing operations, discountinued operations, and extraordinary items. A) True 17. In many cases, GAAP is irrelevant to the decison making needs of management. A) True 18. For manufacturers, cost objects may be products, departments, territories, or activities. A) True 19. Not all direct manufacturing costs can be can be traced to specific cost objects. A) True False 20. Factory overhead is a prime cost. B) False 21. Direct labor is both a prime and converison cost. A) True 22. Product costs are initially reported on income statements as expenses. B) False True 23. Manufacturers typically report three types of inventory on their balance sheets. A) True 24. The difference between total manufacturing costs and cost of goods manufactured is ending work in process. A) True 25. Total manufacturing costs add up to the sum of beginning work in process and total manufacturing costs incurred. A) True 26. Depreciation on factory equipment is a prime cost. B) False 27. Factory overhead is reported as a separate product cost on the balance sheets of manufacturers. A) True False 28. Operating expenses are conversion costs. B) False 29. In EX 18-16 on page 859, Vogt Manufacturing's gross profit would be $363,000. B) False Data is not available 30. On a Statement of Cost of Goods Manufactured prepared for Bahadir Company in Ex 1817 on page 860, the cost of direct material Bahadir purchased would be the same as the cost of direct materail Bahadir actually used. B) False Data not available