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FIN Chapter 3 Exam Questions and Complete Solutions Graded A+
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FIN Chapter 3 Exam Questions and Complete Solutions Graded A+
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FIN Chapter 3Exam Questions
and Complete
Solutions Graded
A+
Denning [Date] [Course title]
,Activities of a firm which require the spending of cash are known as:
A. sources of cash.
B. uses of cash.
C. cash collections.
D. cash receipts.
E. cash on hand. - Answer: B) uses of cash.
The sources and uses of cash over a stated period of time are reflected on the:
A. income statement.
B. balance sheet.
C. tax reconciliation statement.
D. statement of cash flows.
E. statement of operating position. - Answer: D) statement of cash flows.
A common-size income statement is an accounting statement that expresses all of a firm's expenses as
percentage of:
A. total assets.
, B. total equity.
C. net income.
D. taxable income.
E. sales. - Answer: E) sales.
Which one of the following standardizes items on the income statement and balance sheet relative to
their values as of a chosen point in time?
A. statement of standardization
B. statement of cash flows
C. common-base year statement
D. common-size statement
E. base reconciliation statement - Answer: C) common-base year statement
Relationships determined from a firm's financial information and used for comparison purposes are
known as:
A. financial ratios.
B. identities.
C. dimensional analysis.
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