Question Completion Stalus QUESTION 1 The four basic financial statements are: Income statements, balance sheet, statement of owner's equity and statement of cash flows. Income statements, unadjusted trial balance, statement of owner's equity and statement of cash low Income statements, adjusted trial balance, statement of owner's equity and statement of cash flows. Income statements, balance sheet, statement of owner's equity and General Ledger. QUESTION 2 Debt ratio is: O Used to analyze a company's financial position. O Calculated as total liabilities to total assets. O Used to reflect risk associated with a company's debts. O All of the Above. Click Save and Submit to save and submit. Chek Save All Answers to save all anscers O Type here to search 144 2 Week 5-Financial Statneth QUESTION 3 The descrilbes a companry's financial posation by the types and amounts of assets liabulaties, and equity at a point in time. O Income Statement O Statement of Owner's Equaity O Balance Sheet O Statement of Cash Flows QUESTION 4 Return on Assets is usetul in evaluating r analyzing and lorecasting profits, and plaining activities. O False QUESTION S over a period of The Income Statenent O Statement of Owner's Equity Balance Sheet OStatement of Cash Flows Chick Savw t take/launchjsp QUESTION 6 The profitability ratio used to calculate net income to average total assets is: O Profit Margin O Current Ratio O Debt Ratio O Return on Assets QUESTION 7 The Income Statement O Identifies cash inflows (receipts) and cash outflows (payments) over a Ferid of time O Summarize adjusted ledger accounts and amounts Describes a company's revenues and expenses along with the resulting net income or net loss over a period of time due to esarnings activities O Resets revenues, expenses, and wiehdrawal account balances to zero at the end of each pericd QUESTION At the end of the accounting period, the ending capital balance from the statement of owner's oquity is moved to the income statement O True Click Save and sulesi to e and S Chick Save and Subenit to se ond cubenit. Cick Save AT A O type hese to search 2 QUESTION9 The current ratio is defined as current assets divided by current expenses. O True False QUESTION 10 The ratio is a useful measure of a company's operating results calculated as net income to net sales. O Profit Margin O Current Ratio O Debt Ratio O Return on Assets Click Save and Submit to saee and submit Click Save All ARsavers to save all answers Type here t