Milestone Unit 1 Test Questions and Answers All Correct
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Module
Milestone
Institution
Milestone
Milestone Unit 1 Test Questions and Answers All Correct
The pro forma balance sheet shows how the __________ resulting from a strategic plan will be financed. - Answer-AFN
For which company can trend analysis be most useful? - Answer-A software company whose business model and accounting pra...
Milestone Unit 1 Test Questions
and Answers All Correct
The pro forma balance sheet shows how the __________ resulting from a strategic plan
will be financed. - Answer-AFN
For which company can trend analysis be most useful? - Answer-A software company
whose business model and accounting practices have remained stable over time
Which of the following would explain a company's day sales outstanding ratio falling
from 37.3 to 25? - Answer-The company's accounts receivable has decreased while
total sales has increased.
Which market is intended to benefit from the recent trend of microfinance? - Answer-
Impoverished individuals
If a balance sheet shows owner's equity of $10 million, current liabilities of $6 million
and long-term liabilities of $15 million, then what are the total assets of the company? -
Answer-$31 million
What was one outcome of the Sarbanes-Oxley Act of 2002? - Answer-Top management
of U.S. companies must now individually and personally certify the accuracy of financial
information.
What must be forecasted first in order to prepare the pro forma income statement? -
Answer-Sales
Consider the following information:
Total current assets$78,632
Deferred income taxes$3,210
Inventories$9,823
Prepaid expenses$1,050
Other assets$3,890
Total current liabilities$32,043
What is the quick ratio? - Answer-2.15
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