NAB – Finance Exam Questions With Correct Answers A+
2 views 0 purchase
Course
NAB
Institution
NAB
NAB – Finance Exam Questions With
Correct Answers A+
Acid test ratio - Answercash + accounts receivables + money market account / current
liabilities
working capital - Answer= current assets - current liabilities
which is the BEST method of quickly increasing a facility's cash position? - An...
NAB – Finance Exam Questions With
Correct Answers A+
Acid test ratio - Answer✔cash + accounts receivables + money market account / current
liabilities
working capital - Answer✔= current assets - current liabilities
which is the BEST method of quickly increasing a facility's cash position? - Answer✔collecting
accounts receivables (A/R)
calculation for approximate percentage of gross profit - Answer✔add the fixed expenses and the
variable expenses and subtract from the gross income
gross income - (fixed expenses + variable expenses)
calculation for monthly depreciation using straight-line depreciation - Answer✔subtract the
salvage value from the cost of the equipment and divide by the number of years to be depreciated
and then divide by the number of months per year
(cost of equip. - salvage value) / (# years depreciated) / 12
divide ()^ by 12
(months in a year, to calculate monthly depreciation)
where money is borrowed for an agreed upon purpose between a lender and a borrower, this is
called a ______. - Answer✔promissory note
One-time costs of acquiring an asset (purchase price, taxes, shipping, delivery) are called
_________. - Answer✔historic costs
a car purchase for $20,000 would be depreciated using straight line depreciation at $4,000 a year
for how many years? - Answer✔5 years
accounts receivables over 60 days past due must not exceed ___% of all accounts receivables. -
Answer✔5%
the accounting equation - Answer✔assets = liabilities + capital
revenues - expenses = - Answer✔income
document recording non-recurring entries that do not fit in any of the journals - Answer✔general
journal
___________ is an operating expense. - Answer✔weekend overtime wages
which is not a capital expense?
1. purchasing a new computer
2. raw food purchases
3. re-paving the parking lot
4. installing wall partitions - Answer✔2. raw food purchases
current ratio - Answer✔current assets/current liabilities (liquidity)
an example of a fixed cost would be _____.
1. nursing labor cost
2. salary of the LNHA or DON
3. raw food costs
4. nursing supplies costs - Answer✔2. salary of LNHA or DON
bills from suppliers or office supplies are classified as among ________. - Answer✔current
liabilities
depreciation is an expense associated with the use of an _______. - Answer✔asset
Organizing is the first step in implementation of a/an
1. plan
2. budget
3. progressive discipline
2
The benefits of buying summaries with Stuvia:
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
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
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 JasonMcConnell. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $10.49. You're not tied to anything after your purchase.
