CHAPTER 2
Financial Statements, Taxes, and Cash Flow
II. CONCEPTS
TANGIBLE ASSET
d 21. A computer used in a business office by the office manager is classified as: a. a current asset. b. an intangible asset. c. net working capital. d. a tangible asset. e. an inventory item.
CURRENT ASSETS
a 22. Which of the following are included in current assets? I. equipment II. inventory III. accounts payable IV. cash a. II and IV only b. I and III only c. I, II, and IV only d. III and IV only e. II, III, and IV only
CURRENT LIABILITIES
b 23. Which of the following are included in current liabilities? I. note payable to a supplier in eighteen months II. debt payable to a mortgage company in nine months III. accounts payable to suppliers IV. loan payable to the bank in fourteen months a. I and III only b. II and III only c. III and IV only d. II, III, and IV only e. I, II, and III only
NET WORKING CAPITAL
c 24. Which one of the following statements concerning net working capital is correct? a. Net working capital is negative when current assets exceed current liabilities. b. Net working capital includes cash, accounts receivables, fixed assets, and accounts
payable.
c. Inventory is a part of net working capital. d. The change in net working capital is equal to the beginning net working capital
minus the ending net working capital.
e. Net working capital includes accounts from the income statement.
NET WORKING CAPITAL
a 25. Which one of the following statements concerning net working capital is correct?
a. The greater the net working capital, the greater the ability of a firm to meet its
short-term obligations.
b. The change in net working capital is equal to current assets minus current liabilities. c. Depreciation must be added back to current assets when computing the change in
net working capital.
d. Net working capital is equal to long-term assets minus long-term liabilities. e. Net working capital is a part of the operating cash flow.
BALANCE SHEET
d 26. An increase in total assets:
a. means that net working capital is also increasing. b. requires an investment in fixed assets.
c. means that shareholders’ equity must also increase.
d. must be offset by an equal increase in liabilities and shareholders’ equity. e. can only occur when a firm has positive net income.
LIQUIDITY
c 27. Which one of the following accounts is the most liquid? a. inventory
b. building
c. d. e.
accounts receivable equipment patent
(完整版)财务管理CHAPTER2
