Mgt100 Hk1-Final Exam

MGT100 HK1-FINAL EXAM  
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Take Assessment: Final Exam


Name Final Exam
Instructions
Multiple Attempts This Test allows 2 attempts. This is attempt number 2.
Force Completion This Test can be saved and resumed later.


Question 1 1 points Save
The most typical time frame for a budget is
one month.
three months.
six months.
one year.
five years.

Question 2 1 points Save
Which of the following is NOT a Core Competency in Accounting as identified by the CPA Vision Project?
skills in interpreting converging information
strategic and critical skills
technology skills
computational skills
communication and leadership skills

Question 3 1 points Save
The ____________ measures the average number of times that inventory is sold and restocked during the year.
inventory turnover ratio
current ratio
the restock factor
The Learning Effect
the acid test ratio
Question 4 1 points Save
As buildings and equipment wear out or become obsolete, their value decreases. To reflect decreasing value, accountants use
prepaid expenses.
subtracting methods.
depreciation.
licensing.
all of the above.
Question 5 1 points Save
_______________ is concerned with reporting the operations of the company as a whole to shareholders and the public.
Managerial accounting
Government accounting
Minor accounting
Financial accounting
Stock market accounting
Question 6 1 points Save
An expense, such as rent, that is paid before the upcoming period in which it is due is referred to as _________ on the balance sheet.
accounts receivable
futures
prepaid expenses
merchandise inventory
marketable securities
Question 7 1 points Save
__________ is also known as net profit or net earnings.
Operating income
Net income
Cash flow
Leverage
Selling income
Question 8 1 points Save
Subtracting income taxes from operating income reveals
operating income.
net income.
cash flow....