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ACCT 300 > FA - Chapter 2 > Flashcards

FA - Chapter 2 Flashcards

(6 cards)

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1
Q

Basic earnings per share ratio

Liquidity ratio or solvency ratio?

A

net income - preferred dividends/weighted average # of common shares

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2
Q

Price earnings ratio

Liquidity ratio of solvency ratio?

A

market price per share/earnings per share

allows you to compare earnings from one company to another

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3
Q

Working capital ratio

Liquidity ratio or solvency ratio?

A

current assets - current liabilities

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4
Q

Current ratio

Liquidity ratio or solvency ratio?

A

current assets/current liabilities

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5
Q

Debt to total assets

Liquidity ratio or solvency ratio?

A

total liabilities/total assets
solvency
the ability of a company to pay off one’s debts

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6
Q

What are the 10 fundamental qualitative characteristics of financial accounting?

A

Comparability, cost constraint, current value, historical cost, faithful representation, going concern, relevance, timeliness, understandability, verifiability.

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ACCT 300 (2 decks)

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