The least effective method for comparing financial statement information between companies is:
a. to perform ratio analysis.
b. to perform horizontal analysis.
c. to study the statement of cash flows.
d. to focus on changes in financial statement numbers.
d
FEEDBACK: a. Incorrect.
b. Incorrect.
c. Incorrect.
d. Correct. It is difficult to assess the magnitude or significance of changes in account balances looking only at raw data, especially when the numbers are large.
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Which of the following apparel and grooming suggestions should be followed at work?
A. In most cases, casual refers to jeans and T-shirts for professional employees. B. Keep away from the suit, as it has become the most inappropriate apparel in most organizations. C. Makeup should be subtle to the point that people do not think you are wearing any. D. As a general guide, keep away from overdressing for a job interview.
The following are the results of the least squares regression method which was run to separate the fixed and variable components of the Zulli Corporation's monthly factory utility costs using the number of products produced: y = 49,222.2992 + 5.09 x R2
= .97765 a) Assume Zulli budgets production of 5,400 units in June, what should budgeted utility costs be? b) Explain what R2 means. Is this equation a good predictor of utility costs?
The criteria for recognition of a liability does not include which of the following?
a. The obligation represents a present obligation. b. The obligation exists as a result of a past transaction or exchange, called the obligating event. c. The obligation requires the probable future sacrifice of an economic resource that the firm has little or no discretion to avoid. d. The obligation has a relevant measurement attribute that the firm can quantify with sufficient reliability. e. The obligation represents a potential future commitment or intent.
As of December 31, 2013, Desert Junction Corporation had the following account balances: Cash: $100,000 Accounts Receivable: $27,000 Merchandise Inventory: $35,000 Property, Plant, & Equipment: $150,000 Accounts Payable: $42,000 Long-Term Notes Payable: $122,000 Common Stock: $110,000 Retained Earnings: $38,000 Net Sales totaled $350,000, Cost of Goods Sold was
$180,000, total Operating Expenses were $73,000 and Income Taxes Expense were $27,000 for that same year. On December 31, 2012, total assets were $336,000 and total liabilities were $154,000 . ??Desert Junction Corporation's profit margin for 2013 is: a. 20 percent. b. 28 percent. c. 35 percent. d. 48 percent.