ACC 240 Final

What is the total of depreciation to date on an asset?

Price/Earnings ratio

Which of the following is false regarding long-lived assets?

Which of the following is not an example of a tangible asset

Which of the following is not a section included in cash flows?

Return on equity

Fixed asset turnover

Accounts payable

Increase in prepaid expenses

Which of the following expenditure is not capitalized?

An arbitrary amount assigned to each share of a stock when it is authorized

What is the accounting treatment of ordinary repairs and maintenance?

Current ratio

Liability resulting when a company collects sales tax for the state

Decrease in inventory balance

Exclusive right granted by the federal government to protect artistic or intellectual properties

Decrease in liability balance

Liabilities are created when a company:

A symbol, design, or logo associated with a business

Times interest earned ratio

Debt-to-assets ratio

Accrued liabilities

Stockholders holding shares on this date will receive the dividend- no entry

Earnings per share

When the board of directors declares the dividend and a liability is recorded

The amount that each share of stock will sell for in the market

Increase in accounts receivable balance

Exclusive right granted by federal government to sell or manufacture an invention

Purchase of goods or services on credit

Which of the following is not an example of an intangible asset

Limited permissions to use a product or service according to specific terms and conditions

Which of the following is not an acquisition cost?

An expense is incurred in one accounting period; the cash payment is made in a later period

When the dividend payment to stockholders is recorded

Occurs when one company borrows money from another