Questions from College Accounting

Q: Name the four principal financial statements comprising a full set of financial

Name the four principal financial statements comprising a full set of financial statements.

Q: What were the main causes of the decrease in FCI’s current liabilities

What were the main causes of the decrease in FCI’s current liabilities?

Q: List the three steps followed under the gross profit method of estimating

List the three steps followed under the gross profit method of estimating inventory.

Q: List five ratios that are automatically provided by the vertical analysis of

List five ratios that are automatically provided by the vertical analysis of income statements.

Q: Identify three measures of liquidity calculated by FCI.

Identify three measures of liquidity calculated by FCI.

Q: Identify three activity measures calculated by FCI.

Identify three activity measures calculated by FCI.

Q: Identify four measures of profitability calculated by FCI.

Identify four measures of profitability calculated by FCI.

Q: Identify three measures of the extent of leverage calculated by FCI.

Identify three measures of the extent of leverage calculated by FCI.

Q: For what purposes are departmental reports useful to management?

For what purposes are departmental reports useful to management?

Q: In what ways can an income statement showing departmental direct operating margin

In what ways can an income statement showing departmental direct operating margin be used by management?