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WorksheetsCF 6 Asset
Total questions: 15
Worksheet time: 8mins
The financial statement showing a firm's accounting value on a particular date is the:
Balance Sheet
Income Statement
Statement of Cash Flows
ALL
The financial statement summarizing a firm's performance over
Balance Sheet
Income Statement
Tax reconciliation statement
All correct
A current asset is:
An item currently owned by the firm
An item that the firm expects to own within the next year
An item currently owned by the firm that will convert to cash within the next 12 months
The amount of cash on hand the firm currently shows on its statement of financial position
The long-term debts of a firm are
Liabilities that come due within the next 12 months
Liabilities that do not come due for at least 12 months
Liabilities owed to the firm's supplier
Liabilities owed to the firm's shareholders
A(n) _________ asset is one which can be quickly converted into cash without significant loss in
value
Current
Fixed
Intangible
Liquid
Financial leverage refers to:
The proportion of debt used in a firm's capital structure
The ratio of retained earnings to shareholders' equity.
The ratio of paid-in surplus to shareholders' equity
The ratio of cost-of-goods-sold to total sales
________________ refers to the cash flow that results from the firm's ongoing, normal business
activities.
Operating cash flow
Capital spending
Cash flow from assets
Cash flow to creditors
Which of the following statements is true?
Liabilities equal assets plus shareholders' equity
Shareholders' equity equals assets plus liabilities
Shareholders' equity equals liabilities minus assets
Assets equal liabilities plus shareholders' equity
The ease and speed with which an asset can be converted into cash is called:
Liquidity
Marketability
Convertibility
Transferability
