FIN 200: Quiz and Final Exam
Axia College of University of Phoenix (UoP)
Introduction to Finance: Harvesting the Money Tree
1. In developing the pro forma income statement we follow four important steps:
What is the correct order for these four steps? ...
2. The key initial element in developing pro forma statements is ...
3. A firm has beginning inventory of 300 units at a cost of $11 each. Production during the period was 650 units at $12 each. If sales were 700 units, what is the cost of goods sold (assume FIFO)? ...
4. The pro forma income statement is important to the overall process of constructing pro forma statements because it allows us to determine a value for: ...
5. The difference between total receipts and total payments is referred to as ...
6. A firm utilizing LIFO inventory accounting would, in calculating gross profits, assume that ...
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