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Multiple Choice
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1

The accounting statements that a firm is required to file include all but one of these.
A)Balance Sheet
B)Statement of Accounts Receivable
C)Income Statement
D)Statement of Cash Flows
2

The _______________ shows the firm's financial position over a period of time.
A)Income Statement
B)Statement of Cash Flows
C)Balance Sheet
D)None of the above
3

All of the following except one are tax-deductible expenses.
A)interest expense
B)depreciation
C)common stock dividends
D)income taxes
4

All of the following are non-operating expenses except _____________.
A)interest expense
B)cost of goods sold
C)preferred stock dividends
D)taxes
5

Bondholders receive _____________ from the business firm.
A)preferred dividend payments
B)common stock payments
C)interest payments
D)royalties
6

The ratio of net income to common shares outstanding is called ______________.
A)price/earnings ratio
B)earnings per share
C)dividends per share
D)none of the above
7

Usually, firms with high price/earnings ratios are ____________ firms.
A)growth
B)declining
C)mature
D)none of the above
8

One of the limitations of the ____________ is that it is based on historical costs.
A)income statement
B)statement of cash flows
C)balance sheet
D)none of the above
9

A source of funds is a:
A)decrease in a current asset
B)decrease in a current liability
C)increase in a current liability
D)a and c above
10

Short-term financing for a business firm includes:
A)bonds
B)accounts payable
C)stockholder's equity
D)mortgages





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