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18. What information/pieces of information is/are found on the direct materials budget? 1. How many units of direct materials should be purchased? II. How much is the cost of direct materials to be purchased? a. I only c. Both I and II

18. What information/pieces of information is/are found on the direct materials budget? 1. How many units of direct materials should be purchased? II. How much is the cost of direct materials to be purchased? a. I only c. Both I and II

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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18. What information/pieces of information islare found on the direct materials budget? I. How many units of direct materials should be purchased? II. How much is the cost of direct materials to be purchased? a. I only c. Both I and II b. Il only d. Neither I nor II 19. Which of the following is a financial budget? a. Capital expenditure budget b. Production budget c. Manufacturing overhead budget d. Sales budget 20. A net working capital occurs when current liabilities are in excess of current assets. a. Positive c. Excessive d. Zero b. Negative 21. Working capital is a. The same as b. Different from net working capital 22. The amounts needed to compute a company's working capital come from which of the following financial statements? a. Balance Sheet b. Cash Flows Statement c. Income statement 23. The operating cycle for most companies wil be than one year a. Longer b. Shorter 24. In what order will a company's current assets appear in a classified balance sheet? a. Alphabetical order b. Company's choice c. Descending order (largest to smallest0 d. Order of liquidity
Transcribed Image Text:18. What information/pieces of information islare found on the direct materials budget? I. How many units of direct materials should be purchased? II. How much is the cost of direct materials to be purchased? a. I only c. Both I and II b. Il only d. Neither I nor II 19. Which of the following is a financial budget? a. Capital expenditure budget b. Production budget c. Manufacturing overhead budget d. Sales budget 20. A net working capital occurs when current liabilities are in excess of current assets. a. Positive c. Excessive d. Zero b. Negative 21. Working capital is a. The same as b. Different from net working capital 22. The amounts needed to compute a company's working capital come from which of the following financial statements? a. Balance Sheet b. Cash Flows Statement c. Income statement 23. The operating cycle for most companies wil be than one year a. Longer b. Shorter 24. In what order will a company's current assets appear in a classified balance sheet? a. Alphabetical order b. Company's choice c. Descending order (largest to smallest0 d. Order of liquidity
d. Order of liquidity 25. Is it true or false that current liabilities are listed on a company's balance sheet in the order in which they need to he paid а. True b. False I 26. If a company has current assets of P230,000 and current liabilities of P100, the working capital is P а. Різ0,000 b. P330,000 c. P100,000 P230,000 refers to the funds, which an organization must possess to finance its day to day operations. a. Retained earnings b. Fixed capital 27. c. Working capital d. All of the above 28. Investments in current assets should be a. Just adequate b. more c. less d. Maximum 29. Which of the following. is another name for the quick ratio? a. Acid test ratio b. Current ratio c. Working Capital Ratio 30. Working capital is calculated as: a. Core current assets less core current liabilities b. Current assets less current liabilities Core current assets less current liabilities C. d. Liquid assets less current liabilities
Transcribed Image Text:d. Order of liquidity 25. Is it true or false that current liabilities are listed on a company's balance sheet in the order in which they need to he paid а. True b. False I 26. If a company has current assets of P230,000 and current liabilities of P100, the working capital is P а. Різ0,000 b. P330,000 c. P100,000 P230,000 refers to the funds, which an organization must possess to finance its day to day operations. a. Retained earnings b. Fixed capital 27. c. Working capital d. All of the above 28. Investments in current assets should be a. Just adequate b. more c. less d. Maximum 29. Which of the following. is another name for the quick ratio? a. Acid test ratio b. Current ratio c. Working Capital Ratio 30. Working capital is calculated as: a. Core current assets less core current liabilities b. Current assets less current liabilities Core current assets less current liabilities C. d. Liquid assets less current liabilities
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