Colorado MGT340 final exam (65 questions)/Colorado MGT340 final exam (65 questions)

Question 1
Cost of goods sold is located on which financial statement?
Statement of cash flows
Balance sheet
Income statement
All of the above
Question 2
Which of the following was not identified as one of the four main financial objectives of a firm?
Question 3
Which of the following is an example of a long-term liability or debt?
owner’s equity
current portion of real estate mortgage
real estate mortgage
accrued expenses
accounts payable
Question 4
Which of the financial statements used by businesses to keep track of their financial affairs is the most similar to an ordinary person’s end-of-the month bank statement?
statement of cash flows
balance sheet
statement of ratio analysis
income statement
statement of owners’ equity
Question 5
A firm’s working capital is its:
total assets minus its total liabilities
cash and cash equivalents minus its current liabilities
accounts receivable minus its total accounts payable
inventory and accounts receivable minus its current liabilities
current assets minus its current liabilities

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