A) The return on equity on new companies is always lower than the return on equity of well-established firms.
B) Investors willing to take added risk, expect higher returns.
C) Return on equity is a liquidity ratio that has very little bearing on profitability.
D) If Marshall wants to know how well his investments are performing, he should employ leverage ratios such as the debt to equity ratio.
Correct Answer
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Multiple Choice
A) income statement
B) balance sheet
C) statement of cash flows
D) trial balance
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True/False
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True/False
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True/False
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True/False
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True/False
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Multiple Choice
A) ledger, journal, and trial balance.
B) cash budget, capital budget, and master budget.
C) revenue summary, expense summary, and consolidation statement.
D) balance sheet, income statement, and statement of cash flows.
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Multiple Choice
A) internal audit
B) independent audit
C) unofficial audit
D) GAAP analysis
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True/False
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Multiple Choice
A) will soon eliminate all of the accounting functions.
B) are tools to help the accountant perform his or her job.
C) are of little use to small-business owners that need accounting services.
D) have a very limited use in accounting due to inadequate privacy controls.
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Multiple Choice
A) Expense structuring
B) Depreciation
C) Capital budgeting
D) Gross margin allocation
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Multiple Choice
A) current assets listed on Jepson's balance sheet.
B) current liabilities listed on Jepson's balance sheet.
C) a deferred cash flow on Jepson's statement of cash flows.
D) unrealized revenue reported on Jepson's income statement.
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Multiple Choice
A) liquidity ratios.
B) leverage ratios.
C) activity ratios.
D) profitability ratios.
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True/False
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True/False
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Multiple Choice
A) selling expenses on an income statement.
B) general expenses on an income statement.
C) current liabilities on a balance sheet.
D) general expenses on a cash flow statement.
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Multiple Choice
A) income statement
B) balance sheet
C) statement of cash flows
D) bank statement
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True/False
Correct Answer
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True/False
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