I. Direction: Identify what describes the following statement. Write your answer on the blank before the number.____________________1. It pertains to the state of one’s personal monetary affairs.____________________2. It measures the ability to generate earnings from its resources or investments.____________________3. It measures the ability to generate profit that ensures to pay business expenses and maintain a long-term financial success of the business.____________________4. It measures the ability of the company to settle its short term debts.____________________ 5. It measures how the business manage its assets or resources to produce output without wastage.____________________6. It presents the financial statement amounts as a percentage of a base number.____________________7. It is used to evaluate a number of issues with an entity, such as its liquidity, efficiency of operations, and profitability.____________________8. These users of financial information are interested on the liquidity of the company.___________________ 9. These users of financial information are concerned on the solvency of the company.___________________10. These users of financial information are concerned on the profitability andstability of the company. I. Direction: Identify what describes the following statement. Write your answer on the blank beforethe number.1. It pertains to the state of one's personal monetary affairs.2. It measures the ability to generate earnings from its resources or investments.3. It measures the ability to generate profit that ensures to pay business expensesand maintain a long-term financial success of the business.4. It measures the ability of the company to settle its short term debts.5. It measures how the business manage its assets or resources to produce outputwithout wastage.6. It presents the financial statement amounts as a percentage of a base number._7. It is used to evaluate a number of issues with an entity, such as its liquidity,efficiency of operations, and profitability._8. These users of financial information are interested on the liquidity of thecompany.9. These users of financial information are concerned on the solvency of thecompany._10. These users of financial information are concerned on the profitability andstability of the company.

I. Direction: Identify what describes the following statement. Write your answer on the blank before the number. __________1. It pertains to the state of one’s personal monetary affairs. 2. It measures the ability to generate earnings from its resources or investments. 3. It measures the ability to generate profit that ensures to pay business expenses and maintain a long-term financial success of the business. 4. It measures the ability of the company to settle its short term debts. 5. It measures how the business manage its assets or resources to produce output without wastage. 6. It presents the financial statement amounts as a percentage of a base number. 7. It is used to evaluate a number of issues with an entity, such as its liquidity, efficiency of operations, and profitability. 8. These users of financial information are interested on the liquidity of the company. _ 9. These users of financial information are concerned on the solvency of the company. ___________10. These users of financial information are concerned on the profitability andstability of the company.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Question

I. Direction: Identify what describes the following statement. Write your answer on the blank before the number.

____________________1. It pertains to the state of one’s personal monetary affairs.
____________________2. It measures the ability to generate earnings from its resources or investments.

____________________3. It measures the ability to generate profit that ensures to pay business expenses and maintain a long-term financial success of the business.

____________________4. It measures the ability of the company to settle its short term debts.

____________________ 5. It measures how the business manage its assets or resources to produce output without wastage.

____________________6. It presents the financial statement amounts as a percentage of a base number.

____________________7. It is used to evaluate a number of issues with an entity, such as its liquidity, efficiency of operations, and profitability.

____________________8. These users of financial information are interested on the liquidity of the company.

___________________ 9. These users of financial information are concerned on the solvency of the company.

___________________10. These users of financial information are concerned on the profitability andstability of the company.

I. Direction: Identify what describes the following statement. Write your answer on the blank before
the number.
1. It pertains to the state of one's personal monetary affairs.
2. It measures the ability to generate earnings from its resources or investments.
3. It measures the ability to generate profit that ensures to pay business expenses
and maintain a long-term financial success of the business.
4. It measures the ability of the company to settle its short term debts.
5. It measures how the business manage its assets or resources to produce output
without wastage.
6. It presents the financial statement amounts as a percentage of a base number.
_7. It is used to evaluate a number of issues with an entity, such as its liquidity,
efficiency of operations, and profitability.
_8. These users of financial information are interested on the liquidity of the
company.
9. These users of financial information are concerned on the solvency of the
company.
_10. These users of financial information are concerned on the profitability and
stability of the company.

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