244 Chapter 15 5. Which of the folsof crporate annual reports normaly includes a

Question

244 Chapter 15 5. Which of the folsof crporate annual reports normaly includes auditor's reportspects and risks?s a statement concerning future . a. independent auditor's report b. footnotes to the financial statements c. management's internal control assertion d. management discussion and analysis A measure used in evaluating a. working capital ratio b. quick ratio c. receivables/inventory ratio d. number of days' sales in receivables 6. the efficiency in collecting receivables is: 7. Based on the following data for the current year, compute the number cf times interest charges are eamed. $30,000 $4,080,000 Total assets... a. 8 c. 18 d. 136 8. Based on the following data for the current year, what is the quick ratio? $27,000 $23,000 0$90,000 Cash Inventory.$105,000 a. 2.0 b. 3.5 c. 0.7 d. 1.5 9. In vertical analysis of the balance sheet, each asset item is stated as a percent of total: a. current assets b. assets c. current liabilities d. liabilities

Explanation / Answer

5. Which of the following

Answer: management discussion and analysis

6. A measure used in evaluation

d. Number of days sales in receivables

7. based on the following data

Answer: b. 17

Times interest earned = EBIT/Interest = $510,000/$30,000 =17

8. Based on the following

Answer: a.2.0

Quick ratio = (cash +Market securities + receivable) / Current liabilities

= (27,000+23,000+90,000)/70,000= 2

9. In vertical analysis

Answer : Asset

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