Financial statements by using similar methods

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Reference no: EM131258876

1. When several parties can reach similar values in financial statements by using similar methods, the information is said to be:

a. comparable.

b. understandable.

c. timely.

d. verifiable.

2. How will a company's current ratio be affected when the company receives $20,000 from owners and issues common stock to them?

a. The current ratio will increase because current assets increase.

b. The current ratio will increase because current liabilities decrease.

c. The current ratio will decrease because current liabilities increase.

d. There will be no change in the company's current ratio.

Reference no: EM131258876

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