BFIN 300 Test Questions with Correct Answers

BFIN 300 Test Questions with Correct Answers Which one of the following accounts is the most liquid? a.) Inventory b.) Building c.) Accounts Receivable d.) Equipment e.) Land - Answer-c.) Accounts Receivable Noncash items refer to: a.) Accrued expenses b.) Inventory items purchased using credit c.) The ownership of intangible assets such as patents d.) Expenses which do not directly affect net cash flows e.) Sales which are made using store credit - Answer-c.) The ownership of intangible assets such as patents Net working capital is defined as: a.) Total liabilities minus shareholders' equity b.) Current liabilities minus shareholders' equity c.) Fixed assets minus long-term liabilities d.) Total assets minus total liabilities e.) Current assets minus current liabilities - Answer-e.) Current assets minus current liabilities Which one of the following is the financial statement that shows the accounting value of a firm's equity as of a particular date? a.) Income statement b.) Creditor statement c.) Balance sheet d.) Statement of cash flows e.) Dividend statement - Answer-c.) Balance sheet