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Homework answers / question archive / Question 26 When preparing a funds statement using the all financial resources concept, the retirement of long-term debt by the issuance of common stock should be presented in a statement of changes in financial position as a Source of Funds Use of Funds No No No Yes Yes No Yes Yes Question 27 A measure of a company's financial flexibility is Return on assets ratio Return on sales ratio Free cash flow Accounts receivable turnover ratio Question 28 The working capital format is one possible format for presenting a statement of changes in financial position
Question 26
When preparing a funds statement using the all financial resources concept, the retirement of long-term debt by the issuance of common stock should be presented in a statement of changes in financial position as a Source of Funds Use of Funds
No No
No Yes
Yes No
Yes Yes
Question 27
A measure of a company's financial flexibility is
Return on assets ratio
Return on sales ratio
Free cash flow
Accounts receivable turnover ratio
Question 28
The working capital format is one possible format for presenting a statement of changes in financial position. Which of the following formats is (are) also theoretically acceptable? i)Cash ii)Quick Assets
Acceptable Not acceptable
Not acceptable Not acceptable
Not acceptable Acceptable
Acceptable Acceptable
Question 29
The firm's ability to use its financial resources to adapt to change is the definition of
Liquidity
Solvency
Financial flexibility
Working capital
Question 30
Which of the following is not an important aspect of SFAS No. 157 (FASB ASC 820)?
A new definition of fair value.
A requirement that all assets and liabilities are to be measured at their fair value.
A fair value hierarchy used to classify the source of information used in fair value measurements (for example, market based or nonmarket based).
New disclosures of assets and liabilities measured at fair value based on their level in the hierarchy.
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