IGCSE ACCOUNTING CHP 22 part 1

Which of the following is not a current asset?

• Prepaid Insurance

• Inventory

• Fixtures

Current asset MINUS current liabilities is the

• Current Ratio

• Working Capital

• Quick Ratio

Current assets DIVIDED BY current liabilities is the

• Current Ratio

• Quick Ratio

• Working Capital

The quick ratio EXCLUDES which of the following?

• Accounts Receivable

• Closing Inventory

• Cash

• Bank

The company's working capital is

• $60,000

• $66,000

• $196,000

The company's current ratio is

• 1.0 : 1

• 2.0 : 1

• 2.1 : 1

The company's quick ratio is

• 0.7 : 1

• 1.0 : 1

• 2.0 : 1

For its most recent year a company had Sales (all on credit) of $830,000 and Cost of Goods Sold of $525,000. At the beginning of the year its Accounts Receivable were $80,000 and its Inventory was $100,000. At the end of the year its Accounts Receivable were $86,000 and its Inventory was $110,000.

The inventory turnover ratio for the year was

• 4.8

• 5.0

• 7.9

For its most recent year a company had Sales (all on credit) of $830,000 and Cost of Goods Sold of $525,000. At the beginning of the year its Accounts Receivable were $80,000 and its Inventory was $100,000. At the end of the year its Accounts Receivable were $86,000 and its Inventory was $110,000.

The accounts receivable collection period for the year was

• 30 days

• 10 days

• 38 days

which one is not profitability ratio

• ROCE

• Percentage of gross profit to revenue

• Quick ratio