{"id":13441,"date":"2020-11-24T09:05:59","date_gmt":"2020-11-24T09:05:59","guid":{"rendered":"http:\/\/onlineclassesguru.com\/index.php\/2020\/11\/24\/which-of-the-following-balance-sheet-items-generally-takes-the\/"},"modified":"2020-11-24T09:05:59","modified_gmt":"2020-11-24T09:05:59","slug":"which-of-the-following-balance-sheet-items-generally-takes-the","status":"publish","type":"post","link":"https:\/\/onlineclassesguru.com\/index.php\/2020\/11\/24\/which-of-the-following-balance-sheet-items-generally-takes-the\/","title":{"rendered":"which of the following balance sheet items generally takes the"},"content":{"rendered":"<style type=\"text\/css\"><\/style><p>1. Which of the following balance sheet items generally takes the longest time to convert to cash?<\/p>\n<p>(a). accounts receivable<\/p>\n<p>(b). marketable securities<\/p>\n<p>(c). inventory<\/p>\n<p>(d). accounts payable<\/p>\n<p>&nbsp;<\/p>\n<p>2. A firm\u2019s net income may be greater than its net cash flows because the firm<\/p>\n<p>(a). did not pay dividends<\/p>\n<p>(b). sold merchandise on credit<\/p>\n<p>(c). deferred income taxes<\/p>\n<p>(d). deducted depreciation expense<\/p>\n<p>&nbsp;<\/p>\n<p>3. If Toronto Motors Had an EBIT of $22.5M, Interest of $7M and is taxed at an average rate of 32% what is their Net Income?<\/p>\n<p>(a). $10.5M<\/p>\n<p>(b). $15.5M<\/p>\n<p>(c). $5.0M<\/p>\n<p>(d). $8.3M<\/p>\n<p>4. The average tax rate is<\/p>\n<p>(a). the tax rate that is paid on the last dollar of income earned.<\/p>\n<p>(b). always higher than the marginal tax rate.<\/p>\n<p>(c). calculated by dividing the total taxes paid by the taxable income.<\/p>\n<p>(d). none of these.<\/p>\n<p>&nbsp;<\/p>\n<p>5. Which of the following is a tax deductible expense for a corporation?<\/p>\n<p>(a). common stock dividends paid<\/p>\n<p>(b). interest paid<\/p>\n<p>(c). loan principal paid<\/p>\n<p>(d). preferred stock dividends paid<\/p>\n<p>&nbsp;<\/p>\n<p>6. Net cash flow<\/p>\n<p>(a). is the same as a firm\u2019s net income.<\/p>\n<p>(b). is the difference between a firm\u2019s operating cash flow and its financing cash flow.<\/p>\n<p>(c). is the difference between a firm\u2019s total expenses and total revenues.<\/p>\n<p>(d). is the difference between a firm\u2019s actual cash receipts and cash payments in a given period.<\/p>\n<p>&nbsp;<\/p>\n<p>7. Use the following information to answer this question:<\/p>\n<p>Increase in inventories $ 28<\/p>\n<p>Purchased treasury stock $17<\/p>\n<p>Purchased Property and equipment $18<\/p>\n<p>Net income $330<\/p>\n<p>Decrease in accrued income taxes $42<\/p>\n<p>Depreciation and amortization $112<\/p>\n<p>Decrease in accounts payable $10<\/p>\n<p>Increase in accounts receivable $ 26<\/p>\n<p><strong>Increase in Long-term debt $10<\/strong><\/p>\n<p>&nbsp;<\/p>\n<p>(a). -$17<\/p>\n<p>(b). \u2013 $65<\/p>\n<p>(c). \u2013 $83<\/p>\n<p>(d). \u2013 $117<\/p>\n<p>&nbsp;<\/p>\n<p>What was Hadlock Industries\u2019 Cash Flow from Financing for the year ending 6\/30\/2011?<\/p>\n<p><center><a href=\"http:\/\/onlineclassesguru.com\/orders\/ordernow\"><img decoding=\"async\" src=\"https:\/\/encrypted-tbn0.gstatic.com\/images?q=tbn:ANd9GcTyj99p60XCLyLk1htB7-1neRt8-2QdnenNlQ&usqp=CAU\"target=\"_http:\/\/onlineclassesguru.com\/orders\/ordernow\"\/><\/center><p>","protected":false},"excerpt":{"rendered":"<p>1. Which of the following balance sheet items generally takes the longest time to convert to cash? (a). accounts receivable (b). marketable securities (c). inventory (d). accounts payable &nbsp; 2. A firm\u2019s net income may be greater than its net cash flows because the firm (a). did not pay dividends (b). sold merchandise on credit&#8230;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-13441","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v17.0 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>which of the following balance sheet items generally takes the - onlineclassesguru<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"http:\/\/onlineclassesguru.com\/index.php\/2020\/11\/24\/which-of-the-following-balance-sheet-items-generally-takes-the\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"which of the following balance sheet items generally takes the - onlineclassesguru\" \/>\n<meta property=\"og:description\" content=\"1. 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