21. 1.Cash dividends of $100,000 were declared during the year. Cash dividends p

Question

21.            1.Cash dividends of $100,000 were declared during the year. Cash dividends payable were $30,000 and $40,000 at the beginningand end of the year, respectively. The amount of cash for thepayment of dividends during the year is:

a.

$110,000

b.

$100,000

c.

$80,000

d.

$90,000

____         2.       An analysis in which all thecomponents of an income statement are expressed as a percentage ofnet sales is called:

a.

verticalanalysis

b.

horizontalanalysis

c.

liquidityanalysis

d.

common-size analysis

____         3.       The ratio computed bydividing current assets by current liabilities is:

a.

currentratio

b.

earningsratio

c.

acid-testratio

d.

quickratio

____         

a.

$110,000

b.

$100,000

c.

$80,000

d.

$90,000

Explanation / Answer

1 d 2 a 3 a 4 a 5 a 6 b 7 b 8 c 9 b 10 d

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