ZuoTi.Pro
Question

Question 7 (1 point) Accountants: [SELECT ALL THAT APPLY generally construct financial statements using the cash-based approach must apply Generally Accepted Accounting Principles to portray fairly how the firm will perform in the future. generally construct financial statements using the accrual-based approach must apply Generally Accepted Accounting Principles to portray fairly how the firm has 12 performed in the past Question 8 (1 point The DuPontidentity can be used to helo a financial manaser determine thes 17 I. degree of financial leverage used by a firm. Il, operating efficiency of a firm ll. utilization rate of a firms assets 20 IV. liquidity a firms assets. 1 I, II, and IlIl only 2) Il and Ill only 3) I,I, lI. and Iv 4) I and Ill only 5) I, Ill, and Iv only

7 and 8

business   finance   
0 0
Add a comment Improve this question Transcribed image text
Next > < Previous
Sort answers by oldest

Homework Answers

Answer #1

Question 7

Accountants:

- generally construct financial statements using the accrual based approach

- must apply Generally accepted accounting principles to portray fairly how the firm has performed in the past

therefore option 3 & 4 must be selected

Question 8

The Dupoint analysis can be used to help a financial manager determine the

- THe correct anwer is option 1) i.e. I, II, AND III only

0 0
Add a comment
Know the answer?
Add Answer to:
7 and 8 Question 7 (1 point) Accountants: [SELECT ALL THAT APPLY generally construct financial statements...
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Log In

Sign Up

Not the answer you're looking for? Ask your own homework help question. Our experts will answer your question WITHIN MINUTES for Free.
Similar Homework Help Questions

  • Question 4 (0.2 points) (Market vs book) A banker is considering lending a large sum of...

    Question 4 (0.2 points) (Market vs book) A banker is considering lending a large sum of money to a firm for five years. Which of the following is likley? The firm's market value of equity is less than its book value of equity. The firm's market value of equity is equal to its book value of equity. The firm's market value of equity is greater than its book value of equity. Question 5 (0.2 points) Accountants: [SELECT ALL THAT APPLY]...

  • Question 8 (1 point) Which of the following rules apply to the financial statements of public...

    Question 8 (1 point) Which of the following rules apply to the financial statements of public companies in the United States? [SELECT ALL THAT APPLY) Must produce a balance sheet, income statement, statement of cash flows, and statement of stockholders' equity Must be produced according to GAAP, the Generally Accepted Accounting Principles Must be reviewed by an independent auditor

  • Ing inventory Collapse QUESTION 2 The Du Pont identity can be used to help a financial...

    Ing inventory Collapse QUESTION 2 The Du Pont identity can be used to help a financial manager determine the: L degree of financial leverage used by a firm Il operating efficiency of a firm TIL utilization rate of a firm's assets ALI and IV and only C D E and ill only IL and it only and IV only

  • Question 14 (0.2 points) Which of the following rules apply to the financial statements of public...

    Question 14 (0.2 points) Which of the following rules apply to the financial statements of public companies in the United States? [SELECT ALL THAT APPLY] Must produce a balance sheet, income statement, statement of cash flows, and statement of stockholders' equity Must be produced according to GAAP, the Generally Accepted Accounting Principles Must be reviewed by an independent auditor

  • QUESTION 1 Which of the following would not be considered a potential component of a firm's...

    QUESTION 1 Which of the following would not be considered a potential component of a firm's holding costs? set-up costs opportunity cost of inventory investment borrowing costs warehousing costs cost of obsolescence QUESTION 2 Which of following statements are true when comparing aggregate planning strategies? L "Chase" aggregate plans generally require more inventory stock-piling than "Leve aggregate plans. Il. "Level" aggregate plans generally yield better utilization of resources, and thus are associated with greater workforce stability. Il. "Chase aggregate plans...

  • Please correctly answer all parts of question #1 1. Financial statements and reports A Aa What...

    Please correctly answer all parts of question #1 1. Financial statements and reports A Aa What happened to assets, earnings, dividends, and cash flows during the financial year? Accounting practice in the United States follows the generally accepted accounting principles (GAAP) developed by the Financial Accounting Standards Board (FASB), which is a nongovernmental, professional standards body that monitors accounting practices and evaluates controversial issues. The Securities and Exchange Commission (SEC) requires all publicly traded companies to periodically report their financial...

  • Question 7 (1 point) During the latest year, XYZ Corporation has total sales of $300,000, net...

    Question 7 (1 point) During the latest year, XYZ Corporation has total sales of $300,000, net income of 10,000, and its year-end total assets were $240,000. The firm's total debt to total assets ratio was 40 %. What is firm's return on assets (ROA)? (Enter your answers as a percentage rounded to 2 decimal places. For example, enter 8.43 (% ) instead of 0.0843. Your Answer: Answer Question 8 (1 point) Which of the following rules apply to the financial...

  • 1. Consider the following statements:      I. Financial statements are based on Generally Accepted Auditing Principles....

    1. Consider the following statements:      I. Financial statements are based on Generally Accepted Auditing Principles.     II. Auditing standards issued by the AICPA’s Auditing Standards Board must be followed on all audits         of companies' financial statements in the United States of America.       a. I is true;   II is true       b. I is true;   II is false       c. I is false; II is true       d. I is false; II is false 2. Considering the demand...

  • Richard Larkin has prepared the following list of statements about managerial accounting and financial accounting.

    Exercise 19-1Richard Larkin has prepared the following list of statements about managerial accounting and financial accounting. Identify each statement as true or false.1. Financial accounting focuses on providing information to internal users.2. Analyzing cost-volume-profit relationships is part of managerial accounting.3. Preparation of budgets is part of financial accounting.4. Managerial accounting applies only to merchandising and manufacturing companies.5. Both managerial accounting and financial accounting deal with many of the same economic events.6. Managerial accounting reports are prepared only quarterly and annually.7....

  • QUESTIONS 1. Differentiate broadly between financial accounting and managerial accounting. 2. Differentiate between "financial statements" and...

    QUESTIONS 1. Differentiate broadly between financial accounting and managerial accounting. 2. Differentiate between "financial statements" and "finan- cial reporting." 3. How does accounting help the capital allocation process? 4. What is the objective of financial reporting? 5. Briefly explain the meaning of decision-usefulness in the context of financial reporting 6. Of what value is a common set of standards in financial accounting and reporting? 7. What is the likely limitation of general-purpose finan- cial statements"? 8. In what way is...

ADVERTISEMENT
Free Homework Help App
Download From Google Play
Scan Your Homework
to Get Instant Free Answers
Need Online Homework Help?
Ask a Question
Get Answers For Free
Most questions answered within 3 hours.
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT