Soal latihan A1034 Akuntansi Menengah Pertemuan 3 & 4 All of the following are current assets except: a. accounts receivable b. inventories c. cash. d. capital stock All of the following are elements of a Balance Sheet except: a. equity 2. b. revenues c. assets d. liabilities Assets are classified as current if turned into cash or used up: a. in a year or an operating cycle, whichever is shorter. 3. b. in a year, even if the operating cycle is longer. c. in a year or operating cycle, whichever is longer. d. an operating cycle, unless it is less than a year. 4. The following relate to Cowboy Company: Based on the above information, Retained Earnings must be: a. $1,800,000 b. $700,000 c. $200,000 d. $800,000 Which of the following is true regarding notes to the financial statement? All information a user requires is in either the basic financial a. statements or the notes to financial statements. 5. Notes to financial statements are not considered part of the b. financial statements. The notes to the financial statements provide a summary of c. significant accounting policies. Notes to the financial statements are optional when preparing a d. complete set of financial statement. Which of the following is true regarding the Balance Sheet? a. All assets are recorded on the balance sheet. 6. b. All assets are recorded as historical cost. c. Estimates are not used. The balance sheet does not measure the market value of the d. company. Owners Equity is referred to as: 7. a. net assets. b. residual interest in the assets. c. owner's claim on the assets of a company. d. all of these choices are correct. The classification of Other Equity is used for items such as: a. preferred Stock. 8. b. options. c. deficit Balance in Retained Earnings. d. treasury stock. All of the following are comprehensive income items except: a. accumulated other comprehensive income. 9. b. unrealized gains and losses on AFS Securities. c. foreign currency translation adjustments. d. deficit Balance in Retained Earnings. A ratio used to measure a company's liquidity is: a. return on assets. 10. b. asset turnover. c. debt ratio. d. acid-test ratio.