Which of the following equation is known as Cash Flow (CF) identity?
A.CF from Assets = CF to Creditors – CF to Stockholders
B.CF from Assets = CF to Stockholders – CF to Creditors
C.CF to Stockholders = CF to Creditors + CF from Assets
D.CF from Assets = CF to Creditors + CF to Stockholders
The difference between current assets and current liabilities is known as:
A.Surplus Asset
B.Short - term Ratio
C.Working Capital
D.Current Ratio
Which of the following statement is considered as the accountant’s snapshot of a firm’s accounting value as of a particular date?
A.Income Statement
B.Balance Sheet
C.Cash Flow Statement
D.Retained Earning Statement
Which of the following is the correct acronym for GAAP?
A.Generally Applied Accountability Principles
B.General Accounting Assessment Principles
C.Generally Accepted Accounting Principles
D.General Accepted Assessment Principles
A portion of profits, which a company distributes among its shareholders, is known as:
A.Dividends
B.Retained Earnings
C.Capital Gain
D.None of the given options
Which of the following is (are) considered non-cash item(s) on the income statement?
A.Depreciation
B.Deferred taxes
C.Amortization
D.All of the given options
On a corporate Income Statement, annual depreciation expense is classified as a(n):
A.Operating expense
B.Investing expense
C.Financing expense
D.All of the given options
Suppose a corporation has taxable income of $200,000 and the progressive tax calculation is as follows:$50,000 x 15% = $7,500($75,000 - $50,000) x 25% = $6,250($100,000 - $75,000) x 34% = $8,500($200,000 - $100,000) x 39% = $39,000 Total Tax = $61,250. Average Tax Rate = $61,250 / $200,000 = 30.625%.What is the Marginal Tax Rate for this corporation?
A.39%
B.34%
C.15%
D.25%
Which of the following accounting expenses or payments reported on income and payout statements does NOT represent an actual current cash outflow for the firm?
A.Depreciation
B.Dividends
C.Interest payments
D.Taxes
Which of the following financial metrics is universally recognized as the "bottom line" on a corporate Income Statement?
A.Total Assets
B.Total Liabilities
C.Net Profit
D.Gross Profit