Current Assets & Liabilities Flashcards

1
Q

Cash plus other assets that are expected to be sold or converted to cash during the current operating cycle

Includes: Demand deposits, cash equivalents, accounts receivable, inventory, pre-paids, and short-term investments

A

Current Assets & Liabilities

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2
Q

A liability expected to be paid within 12 months or less

A

Current Assets & Liabilities

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3
Q

(Cash + A/R + Trading Securities) / Current Liabilities

A

Current Assets & Liabilities

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4
Q

Currents Assets / Current Liabilities

A

Current Assets & Liabilities

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5
Q

Currents Assets - Current Liabilities

A

Current Assets & Liabilities

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6
Q

Credit Sales / Average A/R

A

Current Assets & Liabilities

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7
Q

COGS / Average Inventory

A

Current Assets & Liabilities

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8
Q

365 / Inventory Turnover

A

Current Assets & Liabilities

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9
Q

Average A/R / Average Sales per Day

A

Current Assets & Liabilities

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10
Q

They are NOT accrued due to Conservatism

A

Current Assets & Liabilities

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11
Q

If Probable - they are accrued (if estimable) and disclosed

If Reasonably Possible - they are disclosed

If Remote - don’t accrue or disclose

A

Current Assets & Liabilities

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