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Exam 3 Review Questions

Authored by Connor Mackey

Business

University

Used 3+ times

Exam 3 Review Questions
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8 questions

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1.

CATEGORIZE QUESTION

3 mins • 5 pts

Where would you find the following items on these three financial statements?

Groups:

(a) Balance Sheet

,

(b) Income Statement

,

(c) Statement of Cash Flows

Balance of Retained Earnings on Dec 31

Cash Flow from Operating Activities

Net Income

Inventory

Cash Flow from Investing Activities

Cost of Goods Sold

Gross Profit

Net Plant and Equipment

EBIT

Common Stock

2.

MULTIPLE CHOICE QUESTION

1 min • 2 pts

Net Working Capital is:

Current Assets minus Equity

Total Assets minus Total Liabilites

Total Liabilities minus Equity

Current Assets minus Current Liabilites

3.

FILL IN THE BLANKS QUESTION

30 sec • 1 pt

(a)   is the most current/liquid of all the assets.

4.

OPEN ENDED QUESTION

3 mins • 2 pts

What is a sunk cost?

Evaluate responses using AI:

OFF

5.

CATEGORIZE QUESTION

3 mins • 3 pts

Organize these options into the right categories

Groups:

(a) Current Assets

,

(b) Current Liabilities

,

(c) Property, Plant, & Equipment

Land

Notes Payable

Accounts Payable

Inventory

Equipment

Office Building

Accounts Receivable

Cash

6.

MULTIPLE CHOICE QUESTION

1 min • 2 pts

The cash flow of a business that is available for

distribution to the firm's creditors and stockholders is called what?

Net Working Capital

Free Cash Flow

Net Income

EBITDA

7.

OPEN ENDED QUESTION

3 mins • 2 pts

What is an opportunity cost?

Evaluate responses using AI:

OFF

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