The account that reflects the amount the owners have invested in the business is:
A. Capital stock
B. Retained earnings
C. Long-term liabilities
D. Long-term assets
E. None of the above
Which of the following ratios depicts investment efficiency?
A. Asset turnover
B. Current
C. Quick
D. Payout
E. None of the above
Projecting inventory levels for next year would be an example of
A. Financial accounting
B. Managerial accounting
C. Tax accounting
D. None of the above
Arson Incorporated's balance sheet lists assets at historical cost less accumulated depreciation. This GAAP is known as
A. Monetary concept
B. Economic entity
C. Going concern
D. Conservatism
E. None of the above
Which of the following is a source of cash?
A. Increase in accounts receivable
B. Increase in inventories
C. Increase in accounts payable
D. None of the above.