5- The current retio measures a firm's a) Profitability b) Ability to pay long--term liability...
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Accounting
5- The current retio measures a firm's
a) Profitability b) Ability to pay long--term liability c) Ability to pay shot-trem liability d) a,b and c
6- Which of the follwoing woulf NOT be classified as long-term asset?
a) Equipment b) Accounts Payable c) Automobiles d) Building
7- What is the going concern assumption?
a) Assumes that a company will go thae distance for their customers. b) Assumes company will go out of business for ten years c) Assumes that a company will follow proper accounting rules d) Assumes that the compeny will continue to operate indefinitely
8- A clssifed balance sheet
a) Does not balance b) Shows depits and Credits c) Arranges assets and liabilities by liquidity d) Lists all revenues and expenses.
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