Questions from Financial Accounting


Q: / / Miami Medical’s trend of return on

Miami Medical’s trend of return on sales is a. improving in 2016 as compared to 2014. b. declining. c. stuck at 21.1%. d. worrisome.

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Q: / / How many shares of common stock

How many shares of common stock did Miami Medical have outstanding, on average, during 2016? a. 35,164 million b. 1,122 million c. 20.8 million d. 134.9 million

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Q: / / Book value per share of Miami

Book value per share of Miami Medical’s common stock outstanding at December 31, 2016, was a. 134.9. b. $4.73. c. 35,164. d. 20.8.

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Q: What is the most relevant net income figure on a corporate multistep

What is the most relevant net income figure on a corporate multistep income statement for predicting future profits and for use in investment valuation? a. Prior-period adjustments b. Gain on sale of...

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Q: Marva’s Lotion Company reports several earnings numbers on its current-year

Marva’s Lotion Company reports several earnings numbers on its current-year income statement (parentheses indicate a loss): How much net income would most investment analysts predi...

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Q: Return to the preceding question. Suppose you are evaluating Marva’s Lotion

Return to the preceding question. Suppose you are evaluating Marva’s Lotion Company stock as an investment. You require a 10% rate of return on investments, so you capitalize Marva&a...

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Q: Providence Systems purchased inventory on account from Megaplex. The price was

Providence Systems purchased inventory on account from Megaplex. The price was ¥150,000, and a yen was quoted at $0.0088. Providence paid the debt in yen a month later when the price of a yen was $0.0...

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Q: One way to hedge a foreign-currency transaction loss is to

One way to hedge a foreign-currency transaction loss is to a. pay debts as late as possible. b. pay in the foreign currency. c. offset foreign-currency inventory and plant assets. d. collect in yo...

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Q: Alistair Software had the following selected account balances at December 31,

Alistair Software had the following selected account balances at December 31, 2016 (all numbers and amounts are in thousands, except par value per share): Requirements 1. Prepare the stockholders&a...

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Q: Foreign-currency transaction gains and losses are reported on the

Foreign-currency transaction gains and losses are reported on the a. income statement. b. balance sheet. c. statement of cash flows. d. consolidation work sheet.

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