Day 21 - 76% Flashcards
Proprietary Funds are:
Internal Service Fund
Enterprise Fund
MCQ-07924
Unrealized gains and losses on trading securities are included in:
Net income
MCQ-15678
A wholesaler stocks a variety of product lines. What inventory costing method will give them the lowest ending inventory when product lines are subject to specific price increases?
Dollar value LIFO
When prices increase LIFO will give the lowest ending inventory
MCQ-00304
A stock dividend valued at $10k was declared. How does this effect equity?
It does not, it only increases the number of shares
MCQ-08997
ABC sold $100 of inventory for $100 cash. What ratio would decrease?
Net Profit Margin
= Net Income / Sales
NI stays the same but Sales increase, thus decreasing the Net Profit Margin Ratio
MCQ-04954
Under the indirect method, cash flow from operations increases when CA ____ and CL ____?
CA - decrease
CL - Increase
MCQ-15239
Under the indirect method, cash flow from operations increases when CA ____ and CL ____?
CA - decrease
CL - Increase
MCQ-15239
