Solved >   31. According to Generally Accepted Accounting Principles, costs:1169534 …


31. According to Generally Accepted Accounting Principles, costs are: 
A. recorded as incurred.
B. recorded when paid.
C. matched with revenues.
D. matched with production levels.
E. expensed as management desires.

32. Depreciation: 
A. reduces both the net fixed assets and the costs of a firm.
B. is a non-cash expense that is recorded on the income statement.
C. is a non-cash expense which decreases the net operating income.
D. decreases net fixed assets, net income, and operating cash flows.
E. increases the net fixed assets as shown on the balance sheet.

33. When you are making a financial decision, the most relevant tax rate is the _____ rate. 
A. average
B. fixed
C. marginal
D. total
E. variable

34. An increase in which one of the following will cause the operating cash flow to increase? 
A. Change in net working capital
B. Taxes
C. Net working capital
D. Costs
E. Depreciation

35. A firm starts its year with a positive net working capital. During the year, the firm acquires more short-term debt than it does short-term assets. This means that: 
A. the ending net working capital will be negative.
B. both accounts receivable and inventory decreased during the year.
C. the beginning current assets were less than the beginning current liabilities.
D. accounts payable increased and inventory decreased during the year.
E. the ending net working capital can be positive, negative, or equal to zero.

36. The cash flow to creditors includes the cash: 
A. received by the firm when payments are paid to suppliers.
B. outflow of the firm when new debt is acquired.
C. outflow when interest is paid on outstanding debt.
D. inflow when accounts payable decreases.
E. received when long-term debt is paid off.

37. Cash flow to stockholders must be positive when: 
A. the net sale of common stock exceeds the amount of dividends paid.
B. no income is distributed but new shares of stock are sold.
C. both the cash flow to assets and the cash flow to creditors are negative.
D. the dividends paid exceed the net new equity raised.
E. both the cash flow to assets and the cash flow to creditors are positive.

38. Which equality is the basis for the balance sheet? 
A. Fixed Assets = Stockholder’s Equity + Current Assets
B. Assets = Liabilities + Stockholder’s Equity
C. Assets = Current Long-Term Debt + Retained Earnings
D. Fixed Assets = Liabilities + Stockholder’s Equity
E. None of the above.

39. Assets are listed on the balance sheet in order of: 
A. decreasing size.
B. decreasing liquidity.
C. relative life.
D. increasing size.
E. None of the above.

40. Debt is a contractual obligation that: 
A. requires the payout of residual flows to the holders of these instruments.
B. requires a repayment of a stated amount and interest over the period.
C. allows the bondholders to sue the firm if it defaults.
D. Both A and B.
E. Both B and C. is an online academic writing platform that provides extensive assistance to graduate school students as they work through their research projects, papers and dissertations. gives students access to experienced professionals who can provide the help they need in a timely and efficient manner. The service offers a wide range of services, including editing, proofreading, formatting, researching and more that can give students the confidence they need to write the perfect paper or dissertation for their chosen subject matter.

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