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ACC 560 Week 11 Quiz – Strayer NEW
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Week 11 Quiz 10: Chapter 14
TRUE-FALSE STATEMENTS
1. Intracompany comparisons of the same financial statement items can often detect changes in financial relationships and significant trends.
Ans: LO: 1, Bloom: C, Difficulty: Easy, Min: 1, AACSB: None, AICPA BB: None, AICPA FN: Reporting, AICPA PC: None, IMA: Performance Measurement
2. Calculating financial ratios is a financial reporting requirement under generally accepted accounting principles.
Ans: LO: 1, Bloom: K, Difficulty: Easy, Min: 1, AACSB: None, AICPA BB: None, AICPA FN: Reporting, AICPA PC: None, IMA: Performance Measurement
3. Measures of a company's liquidity are concerned with the frequency and amounts of dividend payments.
Ans: LO: 1, Bloom: K, Difficulty: Easy, Min: 1, AACSB: None, AICPA BB: None, AICPA FN: Reporting, AICPA PC: None, IMA: Performance Measurement
4. Analysis of financial statements is enhanced with the use of comparative data.
Ans: LO: 1, Bloom: K, Difficulty: Easy, Min: 1, AACSB: None, AICPA BB: None, AICPA FN: Reporting, AICPA PC: None, IMA: Performance Measurement
5. Comparisons of company data with industry averages can provide some insight into the company's relative position in the industry.
Ans: LO: 1, Bloom: K, Difficulty: Easy, Min: 1, AACSB: None, AICPA BB: Industry/Sector, AICPA FN: Reporting, AICPA PC: None, IMA: Performance Measurement
6. Vertical and horizontal analyses are concerned with the format used to prepare financial statements.
Ans: LO: 2, Bloom: K, Difficulty: Easy, Min: 1, AACSB: None, AICPA BB: None, AICPA FN: Reporting, AICPA PC: None, IMA: Reporting
7. Horizontal, vertical, and circular analyses are the most common tools of financial statement analysis.
Ans: LO: 2, Bloom: K, Difficulty: Easy, Min: 1, AACSB: None, AICPA BB:...