100% satisfaction guarantee Immediately available after payment Both online and in PDF No strings attached
logo-home
Previously searched by you
Previously searched by you
logo
COMM 217 - FINAL MCQ Actual Questions and Answers Solved correctly 100%( complete version) CA$21.56   Add to cart
Quickly navigate to
Preview
  2.  
  3. Concordia Theological Seminary-Fort Wayne
  4.  
  5. COMM 217

Exam (elaborations)

COMM 217 - FINAL MCQ Actual Questions and Answers Solved correctly 100%( complete version)
 12 views  0 purchase

COMM 217 - FINAL MCQ Actual Questions and Answers Solved correctly 100%( complete version)   COMM 217 - FINAL MCQ Actual Questions and Answers Solved correctly 100%( complete version) 1. The Total Asset Turnover measures which of the following? a) the profit generated by efficie...

[Show more]

Preview 3 out of 28  pages

Document information

  • November 23, 2023
  • 28
  • 2023/2024
  • Exam (elaborations)
  • Questions & answers

Subjects

  • comm 217
  • comm 217 final mcq actual questions and answers
  • 1the total asset turnover measures which of the
  • 2parker bank is deciding whether to make a loan
  • 3the conceptual framework of accounting helps

Written for

All documents for this subject (1)

Seller

avatar-seller
Wiseman

Reviews received

Content preview

COMM 217 - FINAL MCQ Actual Questions and
Answers Solved correctly 100%(2023-2024
complete version)

,COMM 217 - FINAL MCQ Actual Questions and
Answers
Solved correctly 100%(2023-2024 complete
version)

1. The Total Asset Turnover measures which of the following?
a) the profit generated by efficient management of assets
b) how quickly we liquidate our inventory
c) the sales revenue generated by efficient management of assets
d) the ability to earn profit for the shareholders

2. Parker Bank is deciding whether to make a loan to Davis
Company. Why would the bank be interested in the amount
of liabilities that Davis has on its statement of financial
position?
a) Liabilities represent resources that could be used to repay the loan.
b) If Davis already has many other obligations, it might not be
able to repay the loan.
c) Existing liabilities give an indication of how profitable Davis has been in
the past.
d) Parker would be interested in the amount of Davis's assets but
not the amount of liabilities.

3. The conceptual framework of accounting helps to ensure that

a) users with no accounting or business knowledge will
understand financial statements.
b) a rule will be in place for every possible situation.
c) there are consistent standards prescribing the nature,
functions and limits of financial statements.
d) all countries have their own unique accounting standards.


4. What is the primary purpose of hiring a public accounting firm
to examine the financial statements of the company?

a) To assure no fraud has been committed by the company's management.
b) To provide credibility that the financial information conforms
with international financial reporting standards in all material
respects.
c) To detect all accounting errors made by the accounting system and
employees.
d) To detect fraud committed by employees.

5. An understatement of the beginning inventory results in
a) no effect on the period's earnings.
b) an overstatement of earnings.

, c) an understatement of earnings.
d) a need to adjust purchases.

The benefits of buying summaries with Stuvia:

Guaranteed quality through customer reviews

Guaranteed quality through customer reviews

Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.

Quick and easy check-out

Quick and easy check-out

You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.

Focus on what matters

Focus on what matters

Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!

Frequently asked questions

What do I get when I buy this document?

You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.

Satisfaction guarantee: how does it work?

Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.

Who am I buying these notes from?

Stuvia is a marketplace, so you are not buying this document from us, but from seller Wiseman. Stuvia facilitates payment to the seller.

Will I be stuck with a subscription?

No, you only buy these notes for CA$21.56. You're not tied to anything after your purchase.

Can Stuvia be trusted?

4.6 stars on Google & Trustpilot (+1000 reviews)

67474 documents were sold in the last 30 days

Founded in 2010, the go-to place to buy study notes for 14 years now

Start selling
CA$21.56
  • (0)
  Add to cart