Saint Leo MBA560 week 5 quiz

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1.
Which of the following is a potential limitation of financial statement analysis?
(Points : 2)




Question 2.
2.
You are considering an investment in Ingram Company stock and
wish to assess the company’s position in the stock market. All of the
following ratios can be used for this purpose except:
(Points : 2)





Question 3.
3.
Select the incorrect statement regarding net margin.
(Points : 2)





Question 4.
4.
Current financial reporting standards assume that users of accounting information:
(Points : 2)





Question 5.
5.
You are considering an investment in Ingram Company stock and
wish to assess the company’s position in the stock market. All of the
following ratios can be used for this purpose except:
(Points : 2)





Question 6.
6.
Common methods of financial statement analysis include all of the following except:
(Points : 2)





Question 7.
7.
Select the incorrect statement regarding horizontal analysis.
(Points : 2)





Question 8.
8.
Select the incorrectstatement regarding ratio analysis.
(Points : 2)





Question 9.
9.
Select the correct statement regarding vertical analysis.
(Points : 2)





Question 10.
10.
Solvency refers to a company’s ability to:
(Points : 2)





Question 11.
11.
Which of the following should not be recorded as an expense?
(Points : 2)





Question 12.
12.
Which of following practices is considered an effective means of re-engineering business systems?
(Points : 2)





Question 13.
13.
During its first year of operations, Martin Company paid
$4,000 for direct materials and $8,500 for production workers’ wages.
Lease payments and utilities on the production facilities amounted to
$7,500 while general, selling, and administrative expenses totaled
$3,000. The company produced 5,000 units and sold 4,000 units at a price
of $7.50 a unit.

What is the amount of gross margin for the first year?
(Points : 2)





Question 14.
14.
Which of the following statements is true with regard to
product costs versus general, selling, and administrative costs?
(Points : 2)





Question 15.
15.
Which of the following is a product cost for a construction company?
(Points : 2)





Question 16.
16.
During its first year of operations, Martin Company paid
$4,000 for direct materials and $8,500 for production workers’ wages.
Lease payments and utilities on the production facilities amounted to
$7,500 while general, selling, and administrative expenses totaled
$3,000. The company produced 5,000 units and sold 4,000 units at a price
of $7.50 a unit.

What is the amount of finished goods inventory for the first year?
(Points : 2)





Question 17.
17.
Select the incorrect statement regarding upstream and downstream costs.
(Points : 2)





Question 18.
18.
Susan Mason is the manager of one department in a large
store. In this capacity, which of the following kinds of information
would she be interested in?
(Points : 2)





Question 19.
19.
Which of the following is not one of the four Standards of Ethical Conduct for Management Accountants?
(Points : 2)





Question 20.
20.
As a Certified Management Accountant, Jill is bound by the
standards of ethical conduct issued by the Institute of Management
Accountants. If she accepts an expensive gift from a vendor trying to
win a contract with her firm, which of the following standards will she
violate?
(Points : 2)




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