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Statement Analysis Tools and Accounting Ratios Test - 33

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Statement Analysis Tools and Accounting Ratios Test - 33
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Weekly Quiz Competition
  • Question 1
    1 / -0
    Which of these is a non-monetary items?
  • Question 2
    1 / -0
    Which of the following is the most liquid asset
  • Question 3
    1 / -0
    Quick assets exclude(s) ___________.
  • Question 4
    1 / -0
    Which of the following is the least liquid asset
  • Question 5
    1 / -0
    Which of these is not a component of a Quick Asset
  • Question 6
    1 / -0
    Assets which can be converted into cash immediately are known as ...........
  • Question 7
    1 / -0
    The excess of current assets over current liabilities is known as
  • Question 8
    1 / -0
    Which of the following items is not taken into account when computing current ratio?
    Solution

    Current ratio = Current assets/ Current liabilities
    Current assets include inventories, sundry debtors, cash and bank balances,receivables, loans and advances, disposable investments etc.
    Current liabilities include creditors, short term loans, bank overdraft, cash credit, provisions, outstanding expenses etc.
    Furniture is a fixed asset and it is not included in current assets. Hence while calculating the current ratio furniture is not taken into account.                  
  • Question 9
    1 / -0
    Stock Turnover ratio is a                    .
    Solution
    Stock (Inventory) Turnover ratio is a activity ratio as it shows how much times the stock is being used or sold with respect to the turnover or cost of goods sold.
    Let Cost of goods sold = $$Rs. 100000$$ , Opening inventory = $$Rs. 55000$$ and Closing Inventory = $$Rs. 45000$$
    Stock turnover ratio = Cost of goods sold/ Average Inventory
    Average Inventory = [Opening Inventory + Closing Inventory] /$$2$$
                                     =[ $$55000 + 45000$$]/$$2$$
                                      =$$Rs. 50000$$
    Stock turnover ratio = $$100000/ 50000$$
                                       = $$2$$ times                       
  • Question 10
    1 / -0
    Match the following
    A
    1.Wages and salary
    2. Liquidity position
    3. Gainning ratio
    4. Debenture    		B
    1. Current ratio
    2. Fixed interest
    3. Profit and loss A/c
    4. Retirement of a partner
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