Problem 9-13 Multiple choice 1. The income statement reveals Resources and equity at a point in time. b. Resources and equity for a period of time. c. Net earnings at a point in time. d. Net earnings for a period of time. 2. Conceptually, net income is a measure of a. a. Wealth b. Change of wealth c. Capital maintenance d. Cash flow 3. Which term cannot be used to describe an item in the statement of comprehensive income? a. Revenue b. Gross income c. Income before tax d. Extraordinary 4. Income determination is arrived at by a. Measuring the change in owners' equity b. Identifying the change in the purchasing power c. Using a transaction approach d. Applying the value added concept 5. Net income equals a. Assets minus liabilities b. Revenue minus cost of goods sold c. Revenue minus expenses d. Cash receipts minus cash payments

Which statement is most directly affected by a change to net income? A. balance sheet B. income statement C. statement of retained earnings D. statement of cash flows

For each of the following independent situations, place an (X) by the transactions that would be included in the statement of cash flows. Table 2.6

Question Content Area The present value index is computed using which of the following formulas? a. Amount to Be Invested ÷ Total Present Value of Net Cash Flow b. Amount to Be Invested ÷ Average Rate of Return c. Total Present Value of Net Cash Flow ÷ Average Rate of Return d. Total Present Value of Net Cash Flow ÷ Amount to Be Invested

Q7

Typed and correct answer please. I will rate accordingly. Give explanation of your choice.

19   What does the current ratio measure?   Multiple Choice   The relative proportion of current versus noncurrent assets   Whether current assets are sufficient to pay current liabilities   The speed which current assets can be converted to cash   Whether cash is sufficient to pay current liabilities

Where would you report resources and claims to those resources? A. In the statement of cash flows B. In the balance sheet C. In the income statement  D. In the statement of activit

Match the words to the definitions. Solvency Accounts Receivable Balance Sheet Noncurrent Assets Income Statement Retained Earnings Noncurrent Liabilities. Liquidity Current Assets Cash Flow Statement ✓ [Choose ] A forecast of the amount and timing of future cash inflows and outflows over some period of time. A summary of the revenues and expenses of a business over a given period of time. When net worth is greater than zero, or assets are greater than liabilities on the balance sheet. The ability to meet the day-to-day cash needs of the firm. Profits that are not paid out in dividends but are reinvested in the firm itself. Summarizes a firm's financial position at a given point in time and lists the firm's assets, liabilities, and net worth. Debts that others owe the business, usually arising from previous credit sales. Something the firms owns or uses that will not turn into cash within the next accounting period. Either cash or an items that will become cash in the next accounting…

Working capital represents the portion of current assets financing through long term funds. This indicates 1. Net Working Capital 2. Gross Working capital Select one: O a. 2 is correct O b. Both 1 and 2 are correct O c. 1 is correct O d. Neither of the two are correct