Acct 2 Final Exam Ideal Version

ACCT 2102 Summer 2010

Final Exam – Version A

Name: ___________________________

Instructor: ________________________

The exam is 42 concerns worth 7. 5 items apiece. Maximum score is three hundred SELECT THE BEST ANSWER. MARK THE SCANTRON IF YOU ARE COMPLETELY COMPLETED (to avoid erasures). ANSWERS RECORDED ON THE SCANTRON HAPPEN TO BE FINAL. THE BOOK EXHIBIT OF CRUCIAL FINANCIAL PROPORTIONS IS PLACED ON THIS EXAM. USE THESE TYPES OF RATIOS INTENDED FOR THE EXAM COMPUTATIONS. Use the details for Pets, Inc. (provided separately) to answer questions 1-18.

1 . Compare the speed with which Household pets Inc. gathers cash from its customers towards the industry normal for 2008 and 2007. How do Pets Incorporation. compare to the industry?


a. BetterBetter

b. More serious Worse

c. WorseBetter

g. BetterWorse

2 . Compare the velocity with which Domestic pets Inc. pays for the products on hand it acquisitions to the market average intended for 2008 and 2007. Do Pets Inc. pay their vendors faster or slower than the sector average?


a. FasterFaster

b. Slow Slower

c. SlowerFaster

d. Faster Slow

3. In 2007, roughly how many days, on average, achieved it take in the time Pets, Inc. purchased its products on hand until it gathered the cash from its customers? (Hint: Use days and nights in collection period plus days in the selling period. Pick the nearest number) a. 138 times

b. 155 days

c. 189 days

d. three hundred days

four. Pets Incorporation. 's total assets towards the end of 3 years ago were:

a. $564, 1000

b. $612, 000

c. $650, 500

d. $780, 000

elizabeth. $852, 000

5. Domestic pets Inc. 's total liabilities and Shareholders' Equity at the end of 2008 were: a. $283, 500

b. $539, 896

c. $739, 896

d. $882, 000

electronic. $950, 500

6. Pets Inc. is actually 2008 come back on assets was:

a. 5. 40%

b. five. 70%

c. 5. 79%

d. several. 28%

at the. 13. 34%

7. In the event that using the roundabout method for Household pets Inc. 's statement of cash flow, the change in ammenities payable stability from 06\ to 3 years ago would be reported on the 3 years ago statement of money flows as: a. a great addition to net income in the operating section

n. a deduction from net income in the working section

c. a cash inflow in the investing section

d. a cash output in the auto financing section

e. a funds inflow in the financing section

8. House animals Inc. features $20, 000 of hire expense contained in 2008 operating expenses. The number of cash taken care of rent by Pets Inc. to their landlord in the past year was: a. $16, 000

b. 20 dollars, 000

c. $24, 1000

d. $50, 000

electronic. $0- it was all prepaid

9. If Pets Inc. uses the indirect way for their statement of cash flow, depreciation expenditure would be: a. added returning to net income inside the operating section

b. subtracted from net gain in the operating section

c. ignored since it is actually a non-cash item

d. proven as a discount in the financing section

e. proven as a discount in the investing section

10. During 2008, Pets Inc. 's returns declared and dividends paid out to investors were:

Returns DeclaredDividends Paid out

a. $44, 000$40, 500

b. $44, 000$48, 500

c. $40, 000$44, 000

d. $40, 000$36, 500

e. None of the above

14. The funding section of House animals Inc. 's 2008 affirmation of cash circulation would incorporate: a. a cash output due to the enhancements made on short term debts.

b. a cash inflow due to the difference in long term loans

c. a cash output for curiosity expense.

g. a money outflow to buy of treasury stock.

e. a cash outflow to get paid in capital, treasury stock

doze. During 2008, the times fascination earned percentage for Household pets Inc. can be: a. 1 ) 16

m. 1 . seventy

c. 2 . 70

d. 3. 45

e. non-e of the previously mentioned.

13. During 2007, the amount of cash Pets, Inc. collected from its customers was: a. $1, 032, 000.

b. $1, 060, 400.

c. $1, 061, 200.

deb. $1, 068, 400.

electronic. $1, 092, 400.

16. Pets, Inc. 's 08 asset yield is:

a. 0. 67

b. 0. 88

c. 1 . twenty six

d. 1 ) 29

electronic. 1 . 35

15. Which in turn of the following statements applies regarding the earnings trend of Pets, Incorporation. from 2007 to 2008? a. Gross Margin percent increased

n. Operating cash flow percent improved

c. Net income percent lowered

d. non-e from the...




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