1. On a balance sheet, deferred taxes are classified as: a current asset. stockholders’ equity. a long-term liability. a fixed asset. a current liability.
2. Which one of these accounts is classified as a current asset on the balance sheet? net plant and equipment inventory intangible asset accounts payable preferred stock
3. A firm has net working capital of $425, net fixed assets of $2,282, sales of $6,000, and current liabilities of $800. How many dollars worth of sales are generated from every $1 in total assets?
4. Which account is least apt to vary directly with sales? cost of goods sold inventory accounts payable accounts receivable notes payable