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Question 11 pts Financial Statements are reports on the financial performance of organizations. They provide data on: Group of answer choices Comparative company data to
Question 11 pts
Financial Statements are reports on the financial performance of organizations. They provide data on:
Group of answer choices
Comparative company data to companies in similar industries
All of the above
Projections for the upcoming fiscal year
All of the above
Where money comes from, what money is spent on and how much money is available for use
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Question 21 pts
The primary function of the Income Statement is to:
Group of answer choices
Measure the company's financial performance over a period of time
Determine if the company will have enough cash to operate properly
Show the company's value as of a given point in time
Determine taxes owed or not owed
Compare the company's assets against the company's liabilities
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Question 31 pts
The primary function of the Balance Sheet is to:
Group of answer choices
Determine if the company will have enough cash to operate properly
Determine taxes owed or not owed
Measure the company's performance over a period of time
Show the company's value as of a given point in time
Make sure that the company's assets and the company's liabilities "balance"
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Question 41 pts
The main three sections of the Cash Flow Statement are:
Group of answer choices
Cash from operating activities; cash from investing activities and cash from financing activities
Cash from customers; cash from shareholders and cash from miscellaneous sources
Cash from sales; cash from operations and cash from depreciation and amortization
Cash from assets; cash from liabilities and cash from equity
Cash from operating activities; cash from sales and cash from administrative activities
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Question 51 pts
Which of the following lists are all Assets found in the Balance Sheet:
Group of answer choices
Cash, accounts receivable, marketable securities, inventory, prepaid expenses and common stock
Cash, accounts receivable, marketable securities, inventory and prepaid expenses
Cash, accounts receivable, inventory and Operating Margin
Cash, accounts receivable, inventory, marketable securities and revenue
Cash, accounts receivable, inventory, prepaid expenses and revenue
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Question 61 pts
The Balance Sheet equation is:
Group of answer choices
Assets plus Liabilities = Equity
Liabilities = Assets plus Equity
Assets divided by Equity = Liabilities
Equity = Profit minus Taxes
Assets = Liabilities plus Equity
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Question 71 pts
Which one of the following lists are the Current Liabilities of a company:
Group of answer choices
Accounts Payable, Notes Payable, Income Taxes Payable BUT NOT Accrued Expenses
Accounts Payable, Notes Payable, Accrued Expenses BUT NOT Income Taxes Payable
Accounts Payable, Notes Payable, Accrued Expenses AND Income Taxes Payable
Accounts Payable, Notes Payable, Accrued Expenses AND Prepaid Expenses
Accounts Payable, Notes Payable AND Prepaid Expenses
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Question 81 pts
Which is correct about Preferred Stock:
Group of answer choices
It is always worth more than common stock
It is reserved only for preferred customers or investors
It has priority over common stock in the event of the dissolution of the company
It always costs more than common stock
It cannot be owned by full time employees of the company
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Question 91 pts
Which one of the below is the MAJOR responsibility of a businessperson:
Group of answer choices
Making as little income as possible that is taxable in order to minimize the government's cut
Making the value of the company increase by generating increasing revenues and profits
Making sure the company is legally compliant with all reporting and other regulatory requirements
Making as much money as possible for the employees to share in salary, bonus and benefits
Making as much money as possible to distribute in dividends to stockholders
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Question 101 pts
Which is the most relevant statement to an employee regarding the understanding and use of financial statements:
Group of answer choices
They have little to do with the "real life" day to day operations of most departments or sections
They are only really used to determine taxes owed or not owed.
They are only really needed by senior executives, board members and shareholders
They are only really needed by a company's Chief Financial Officer or Controller or Accounting Staff who are paid to understand and use these things
They can help any employee understand her or his impact on the financial health of the company
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