Question Details

Accrued liabilities are disclosed in financial statements 



	P1.	The ratio of current assets to current liabilities is called the
a.	current ratio.
b.	acid-test ratio.
c.	current asset turnover ratio.
d.	current liability turnover ratio.

	2.	Accrued liabilities are disclosed in financial statements by
a.	a footnote to the statements.
b.	showing the amount among the liabilities but not extending it to the liability total.
c.	an appropriation of retained earnings.
d.	appropriately classifying them as regular liabilities in the balance sheet.

	3.	The numerator of the acid-test ratio consists of
a.	total current assets.
b.	cash inventory and marketable securities.
c.	cash inventory and net receivables.
d.	cash, marketable securities, and net receivables.

	4.	Each of the following are included in both the current ratio and the acid-test ratio except
a.	cash.
b.	short-term investments.
c.	net receivables.
d.	inventory.





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