DEVRY HSM340 WEEK 2 QUIZ
TCO 2) A statement that reports inflows and outflows of cash
during the accounting period in the categories of operations, investing, and
financing, is called a(an):
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Income statement
Statement of retained earnings
Balance sheet
Statement of cash flows
Report of management
Question 2. Question
:
(TCO 2) Two major methods of asset valuation are:
:
historical cost and future cost
historical cost and acquisition cost
historical cost and replacement cost
acquisition cost and future cost
Question 3. Question
:
(TCO 2) _____ is the most important financial metric to
review to determine long-term financial viability.
Return on equity
Total margin
Days cash on hand
Hospital cost index
None of the above
Comments:
Question 4. Question
:
(TCO 2) What should be a firm’s primary long-term financial
objective?
Profit growth
Debt growth
Asset growth
Equity growth
Question 5. Question
:
(TCO 2) Explain the difference between the accrual basis of
accounting and the cash basis of accounting.?
Question 6. Question
:
(TCO 2) What is an accounting entity?
Question 7. Question
:
(TCO 2) The HC method, which uses unadjusted historical
costs, does not take into account depreciation expenses, purchasing power, and
unrealized gains in replacement value. Despite these weaknesses as a financial
reporting method, the HC method is used more frequently for accounting purposes
than other methods, such as the HC-GPL, CV, and CV-GPL methods. Why is this so?
Question 8. Question
:
(TCO 2) Define and describe the purpose of fund accounting
(now called net assets).
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