1. The income statement should provide information about income and changes in income. True or False
2. The magnitude of data presented in typical financial statements makes it fairly easy to formulate judgments about the financial condition of an organization. True or False
3. The organization’s long-term survival and success is growing more dependent on stakeholder relationships. True or False
4. The ratio most frequently used to reflect short term liquidity is the turnover ratio. True or False
5. When liquidity suffers, the risk of bankruptcy or the need for an infusion of more funds is critical. True or False