10 May WHICH OF THESE IS NOT A LIQUIDITY RATIO?
16. The chief accounting officer in a company is known as theo president.o controller.o treasurer.o vice-president.17. Which one of the following would not be considered an advantage of the corporate form of organization?o Limited liability of stockholders.o Government regulation.o Continuous life.o Separate legal existence.18. Which of the following would not be true of a privately held corporation?o Its shares are regularly traded on the New York Stock Exchange.o It does not offer its shares for sale to the general public.o It is usually smaller than a publicly held company.o It is sometimes called a closely held corporation.19. The following information pertains to Pharoah Company. Assume that all balance sheet amounts represent average balance figures.Total assets $420000Stockholders’ equity-common 300000Total stockholders’ equity 255000Sales revenue 100000Net income 22400Number of shares of common stock 7000Common dividends 6500Preferred dividends 6900What is Pharoah’s payout ratio?o 29.02%.o 42%.o 22%.o 14%.20. Swifty Corporation had net income of $73788 and paid dividends of $25500 to common stockholders and $20500 to preferred stockholders in 2017. Swifty Corporation common stockholders’ equity at the beginning and end of 2017s was $465000 and $550000 respectively. Swifty Corporation return on common stockholders’ equity iso 11%.o 10%.o 15%.o 6%.21. The primary purpose of the statement of cash flows is too facilitate banking relationships.o provide information about the investing and financing activities during a period.o prove that revenues exceed expenses if there is a net income.o provide information about the cash receipts and cash payments during a period.22. Which one of the following items is not generally used in preparing a statement of cash flows?o Additional information.o Adjusted trial balance.o Current income statement.o Comparative balance sheets.23. The category that is generally considered to be the best measure of a company’s ability to continue as a going concern iso usually different from year to year.o cash flows from investing activities.o cash flows from operating activities.o cash flows from financing activities.24. Assume that the Fitzgerald Corporation uses the indirect method to depict cash flows. Indicate where if at all a stock dividend declared and issued would be classified on the statement of cash flows.o Investing activities section.o Does not represent a cash flow.o Operating activities section.o Financing activities section.25. Assume that the Fitzgerald Corporation uses the indirect method to depict cash flows. Indicate where if at all an inventory increase with cash would be classified on the statement of cash flows.o Investing activities section.o Financing activities section.o Operating activities section.o Does not represent a cash flow.26. Free cash flow provides an indication of a company’s ability too generate cash to pay dividends.o generate cash to invest in capital expenditures.o generate cash to invest in capital expenditures and to pay dividends.o generate net income.27. When using the indirect method to compute cash provided by operating activitieso income taxes paid may be ignored.o amortization expense is added to net income.o decreases in inventory are subtracted from net income.o increases in accounts receivable are added to net income28. o determine the net cash provided (used) by operating activities it is necessary to analyzeo the current year’s income statement.o a comparative balance sheet.o additional information.o all of these answer choices are correct.29. Which of these is not a liquidity ratio?o Accounts receivable turnovero Inventory turnovero Current ratioo Asset turnover30. The current ratio would be of most interest too short-term creditors.o long-term creditors.o stockholders.o customers.
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