Analyzing financial statements involves:

Characteristics/Comparison bases

Question 1 options:

	Intracompany
	Intercompany
	Industry averages

1.	Liquidity
2.	Profitability
3.	Solvency

Analyzing financial statements involves

Question 6 options:

	Industry averages
	Horizontal analysis
	Intracompany
	ratio analysis

1.	Comparison Bases
2.	Basic Tools
3.	Basic Tools
4.	Comparison Bases

Preparing the Worksheet Steps:

correct the step ways

	Enter in the balance sheet accounts section the balance sheet accounts and their beginning and ending balances.
	Enter on the cash line and at the bottom of the worksheet the increase or decrease in cash.
	Last entry should enable the totals of the reconciling columns to be in agreement.
	Enter in the reconciling columns of the worksheet the data that explain the changes in the balance sheet accounts other than cash and their effects on the statement of cash flows.

Ticket revenue is an earned revenue for Air Canada an airline company.

Question 8 options:

	True
	False

Corporations engaged in interstate commerce must obtain a _.........._____ from each state in which they do business.

Question 16 (1 point)

The term payroll does not pertains to:

Question 16 options:

	store clerks rate
	sales personnel rate.
	managerial rate
	administrative rate

Recent accounting scandals suggest that some companies are spending very less time in managing their income and not enough time managing their business.

Question 32 options:

	True
	False

Question 35 (1 point)

Classification of cash flows:

Changes in Long-Term Liabilities and Stockholders Equity
	Income Statement Items
	Financing Activities
	Investing Activities

Question 43 (1 point)

Two ratios that provide information about short-run solvency and the ability to meet interest payments as they come due are:

Debt to Assets Ratio

Times Interest Earned

Question 43 options:

	True
	False