Question

1.Noncash operating working capital includes which of the following(mark all that apply, if any).

a) Inventory

b)Accountsreceivable

c)Accountspayable

d)Customer depositliability (deferred revenue)

e)Accumulateddepreciation

f)Accrued liabilities(operating)

g)Prepayment assets (prepaidexpenses)

2.

Caroline'sHardware, a retail store sold store fixtures during the currentperiod for $60,000. The fixtures had cost $120,000 two years ago.Accumulated depreciation on the fixtures was $50,000 at the timethey were sold. The income statement for the period reported a losson the sale of $10,000. What amount should be reported in the cashflow statement investing activity section for the cash flow fromthat sale?

Question 7 options:

$60,000

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-$10,000

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$40,000

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$0

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$50,000

 

3.A current ratiogreater than 1.0 is generally desirable for a company, according toDMP. Harvey does not think much of fixed numerical benchmarks forfinancial ratios and suggests comparing a firm&#39;s ratio values withindustry averages and/or ratio values for industry leaders.

Question 8 options:

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True

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False

 

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