Copyright
Accounting 302: Advanced Accounting  /  Business Courses

Test Prep Plan - Take a practice test

Take this practice test to check your existing knowledge of the course material. We'll review your answers and create a Test Prep Plan for you based on your results.
How Test Prep Plans work
1
Answer 50 questions
Test your existing knowledge.
2
View your test results
Based on your results, we'll create a customized Test Prep Plan just for you!
3
Study smarter
Study more effectively: skip concepts you already know and focus on what you still need to learn.

Analyzing Financial Statements Chapter Exam

Exam Instructions:

Choose your answers to the questions and click 'Next' to see the next set of questions. You can skip questions if you would like and come back to them later with the yellow "Go To First Skipped Question" button. When you have completed the practice exam, a green submit button will appear. Click it to see your results. Good luck!

Page 1

Question 1 1. Choose the best answer as it relates to financial statement ratios.

Question 2 2. Choose the best answer to define expenses.

Question 3 3. What does the current ratio show?

Question 4 4. How do you calculate the debt ratio?

Question 5 5. What are liabilities?

Page 2

Question 6 6. What are expenses?

Question 7 7. What are assets?

Question 8 8. Last period, your company had a debt ratio of 0.6. This period, the debt ratio was 0.8. How would you interpret these results?

Question 9 9. What are liabilities?

Question 10 10. Which is true of baseline ratios?

Page 3

Question 11 11. Why can inventory valuations cause a problem with financial statement analysis?

Question 12 12. What is the debt ratio?

Question 13 13. Which of the following statements is true regarding seasonality and financial statement ratios?

Question 14 14. How are financial statement ratios calculated?

Question 15 15. Which of the following statements is TRUE regarding financial statement analysis?

Page 4

Question 16 16. What is the formula for the current ratio?

Question 17 17. Which ratio has a baseline for comparing ratios?

Question 18 18. How is the operating profit ratio calculated?

Question 19 19. How are financial statement ratios calculated?

Question 20 20. Which of the following is true regarding calculating financial statement ratios?

Page 5

Question 21 21. What is the purpose of an income statement?

Question 22 22. Which of the following statements describes how to conduct a horizontal analysis?

Question 23 23. What are assets?

Question 24 24. How do you calculate vertical analysis?

Question 25 25. Choose the best answer as it relates to interpreting horizontal analysis results.

Analyzing Financial Statements Chapter Exam Instructions

Choose your answers to the questions and click 'Next' to see the next set of questions. You can skip questions if you would like and come back to them later with the yellow "Go To First Skipped Question" button. When you have completed the practice exam, a green submit button will appear. Click it to see your results. Good luck!

Support