Mgt100 Hk1-Final Exam Essay

3772 Words Jun 6th, 2016 16 Pages
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Name Final Exam
Multiple Attempts This Test allows 2 attempts. This is attempt number 2.
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Question 1 1 points Save
The most typical time frame for a budget is one month. three months. six months. one year. five years.

Question 2 1 points Save
Which of the following is NOT a Core Competency in Accounting as identified by the CPA Vision Project? skills in interpreting converging information strategic and critical skills technology skills computational skills communication and leadership skills

Question 3 1 points
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selling income.
Question 9 1 points Save
Depreciation is the process of distributing the cost of an asset over its useful life. the amount paid for an existing business above the value of its other assets. a debt that must be paid within the year. additional money, above proceeds from a stock sale, paid directly to a firm by its owners. a debt that is not due for at least one year.

Question 10 1 points Save
Which of the following statements is the most accurate?
All inventory turnover ratios should be five or above.
A "good" inventory turnover ratio depends upon the industry that a firm is in.
As a rule, any firm strives to achieve an inventory ratio below five.
Most firms pay no attention to inventory turnover.
Inventory turnover is a short-term solvency ratio.
Question 11 1 points Save
Along with the computer, Mega Computers has sent a document that states the promised payment date and amount. The buyer must sign it before taking the computer. This is a(n) revolving credit agreement. open-book credit. promissory note. trade draft. line of credit.
Question 12 1 points Save
Financial control is the process of checking actual performance against plans to ensure that desired financial results occur. a firm's strategies for reaching some future financial position. rules governing a firm's extension of credit to customers. the granting of credit by one firm to another. the management of cash inflows and outflows to ensure adequate funds for

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