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The following information was taken from Slater Company's balance sheet: The following information was taken from Slater Company's balance sheet: Determine the company's (a) Ratio of fixed assets to long-term liabilities, and (b) ratio of liabilities to stockholders' equity. Round your answer to one decimal place. Determine the company's (a) Ratio of fixed assets to long-term liabilities, and (b) ratio of liabilities to stockholders' equity. Round your answer to one decimal place.

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The independent auditor's report does which of the following?


A) describes which financial statements are covered by the audit
B) gives the auditor's opinion regarding the fairness of the financial statements
C) summarizes what the auditor did
D) states that the financial statements are truthful

E) All of the above
F) A) and B)

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The following information pertains to Carlton Company. Assume that all balance sheet amounts represent both average and ending balance figures. Assume that all sales were on credit. Assets The following information pertains to Carlton Company. Assume that all balance sheet amounts represent both average and ending balance figures. Assume that all sales were on credit. Assets Liabilities and Stockholders' Equity Income Statement What is the ratio of net sales to total assets for this company? Round your answer to two decimal points. A) 1.00 B) 1.89 C) 0.36 D) 0.29 Liabilities and Stockholders' Equity The following information pertains to Carlton Company. Assume that all balance sheet amounts represent both average and ending balance figures. Assume that all sales were on credit. Assets Liabilities and Stockholders' Equity Income Statement What is the ratio of net sales to total assets for this company? Round your answer to two decimal points. A) 1.00 B) 1.89 C) 0.36 D) 0.29 Income Statement The following information pertains to Carlton Company. Assume that all balance sheet amounts represent both average and ending balance figures. Assume that all sales were on credit. Assets Liabilities and Stockholders' Equity Income Statement What is the ratio of net sales to total assets for this company? Round your answer to two decimal points. A) 1.00 B) 1.89 C) 0.36 D) 0.29 The following information pertains to Carlton Company. Assume that all balance sheet amounts represent both average and ending balance figures. Assume that all sales were on credit. Assets Liabilities and Stockholders' Equity Income Statement What is the ratio of net sales to total assets for this company? Round your answer to two decimal points. A) 1.00 B) 1.89 C) 0.36 D) 0.29 What is the ratio of net sales to total assets for this company? Round your answer to two decimal points.


A) 1.00
B) 1.89
C) 0.36
D) 0.29

E) B) and C)
F) C) and D)

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A decrease in the ratio of liabilities stockholders' equity indicates an improvement in the margin of safety for creditors.

A) True
B) False

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The rate earned on total assets measures the profitability of total assets, without considering how the assets are financed.

A) True
B) False

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Which of the following below generally is the most useful in analyzing companies of different sizes


A) comparative statements
B) common-sized financial statements
C) price-level accounting
D) audit report

E) A) and D)
F) None of the above

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The numerator of the rate earned on common stockholders' equity ratio is equal to


A) net income
B) net income minus preferred dividends
C) income plus interest expense
D) income minus interest expense

E) B) and C)
F) None of the above

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The following items are reported on a company's balance sheet: The following items are reported on a company's balance sheet: Required: Determine (1) the current ratio and (2) the quick ratio. Round to one decimal place. Required: Determine (1) the current ratio and (2) the quick ratio. Round to one decimal place.

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Which of the following is considered an unusual item affecting the prior period's income statement?


A) Change in accounting principles
B) Fixed asset impairments
C) Extraordinary item
D) Discontinued operations

E) A) and B)
F) A) and C)

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The report on internal control required by the Sarbanes-Oxley Act of 2002 may be prepared by either management or the company's auditors.

A) True
B) False

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A company reports the following: A company reports the following: Determine the (a) accounts receivable turnover, and (b) number of days' sales in receivables. Round your answer to decimal place. Determine the (a) accounts receivable turnover, and (b) number of days' sales in receivables. Round your answer to decimal place.

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Reporting unusual items separately on the income statement allows investors to isolate the effects of these items on income and cash flows.

A) True
B) False

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Which of the following is not included in the computation of the quick ratio?


A) inventory
B) marketable securities
C) accounts receivable
D) cash

E) None of the above
F) A) and B)

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Which one of the following is not a characteristic generally evaluated in ratio analysis?


A) liquidity
B) profitability
C) solvency
D) marketability

E) A) and B)
F) A) and C)

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Earnings per share amounts are only required to be presented for income from continuing operations and net income on the face of the statement.

A) True
B) False

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The following information pertains to Carlton Company. Assume that all balance sheet amounts represent both average and ending balance figures. Assume that all sales were on credit. Assets The following information pertains to Carlton Company. Assume that all balance sheet amounts represent both average and ending balance figures. Assume that all sales were on credit. Assets Liabilities and Stockholders' Equity Income Statement What is the rate earned on common stockholders' equity for this company? Round your answer to one decimal point. A) 6.8% B) 13.3% C) 16.7% D) 23.3% Liabilities and Stockholders' Equity The following information pertains to Carlton Company. Assume that all balance sheet amounts represent both average and ending balance figures. Assume that all sales were on credit. Assets Liabilities and Stockholders' Equity Income Statement What is the rate earned on common stockholders' equity for this company? Round your answer to one decimal point. A) 6.8% B) 13.3% C) 16.7% D) 23.3% Income Statement The following information pertains to Carlton Company. Assume that all balance sheet amounts represent both average and ending balance figures. Assume that all sales were on credit. Assets Liabilities and Stockholders' Equity Income Statement What is the rate earned on common stockholders' equity for this company? Round your answer to one decimal point. A) 6.8% B) 13.3% C) 16.7% D) 23.3% The following information pertains to Carlton Company. Assume that all balance sheet amounts represent both average and ending balance figures. Assume that all sales were on credit. Assets Liabilities and Stockholders' Equity Income Statement What is the rate earned on common stockholders' equity for this company? Round your answer to one decimal point. A) 6.8% B) 13.3% C) 16.7% D) 23.3% What is the rate earned on common stockholders' equity for this company? Round your answer to one decimal point.


A) 6.8%
B) 13.3%
C) 16.7%
D) 23.3%

E) C) and D)
F) All of the above

Correct Answer

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The dividend yield rate is equal to the dividends per share divided by the par value per share of common stock.

A) True
B) False

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Define solvency and profitability. How are they alike?

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Solvency is the ability of a company to ...

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Which of the following items appear on the corporate income statement before income from continuing operations?


A) cumulative effect of a change in accounting principle
B) income tax expense
C) extraordinary gain
D) loss on discontinued operations

E) A) and B)
F) A) and C)

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A firm selling food should have higher inventory turnover rate than a firm selling office furniture.

A) True
B) False

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