Questions and Answers: 166
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NEW QUESTION: 1
At December 31, 20X2, Curry Co. had the following balances in selected asset accounts:
Curry also had current liabilities of $1,000 at December 31, 20X2, and net credit sales of $7,200 for the
year then ended.
What is Curry's acid-test ratio at December 31, 20X2?
A. 1.5
B. 2.0
C. 1.6
D. 2.1
Answer: A
Explanation:
Explanation/Reference:
Explanation:
Choice "A" is correct. The acid-test ratio is calculated by taking the current assets excluding inventory and
prepaid expenses and dividing by current liabilities. In this case, cash and accounts receivable ($300 +
$1,200 = $1,500) are divided by current liabilities ($1,000), resulting in a ratio of $1,500/$1,000, or 1.5.
Choice "B" is incorrect. The numerator in the acid-test ratio formula includes only cash and accounts
receivable. It would not include prepaid expenses.
Choice "C" is incorrect. The numerator in the acid-test ratio formula includes only cash and accounts
receivable. It would not include inventory.
Choice "D" is incorrect. The numerator in the acid-test ratio formula includes only cash and accounts
receivable. It would not include inventory and prepaid expenses.
NEW QUESTION: 2
A user's CRT display is not displaying colors correctly. Turning the display to the right or left sometimes temporarily corrects the problem. Which of the following should the technician check?
A. The CRT On Screen Display (OSD)
B. The video cable
C. The CRT power cable
D. The video card display driver
Answer: B
NEW QUESTION: 3
Steve is the project manager for the POK Project. He is working with the project customers to determine how frequently they'd like to receive the project information. The customers would like weekly status reports on how the project is performing. Where should Steve document this information?
A. Issues log
B. Schedule management plan
C. Project schedule
D. Communications management plan
Answer: D
Explanation:
The communications management plan defines who needs what information, when the information is needed, and the modality the information is expected in. Answer option C is incorrect. The project schedule could include project management activities such as schedule communication, but the communications management plan is the best answer as this information is absolutely documented in this plan. Answer option D is incorrect. The schedule management is not the best location for this information. Answer option B is incorrect. The request for customer communication is not an issue, so this choice is not the most appropriate.