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ACC 556 Chapter 13 Quiz Strayer University ACC 556 Chapter 13 Quiz Strayer University
Question 1 1 out of 1 points Comprehensive income includes all revenues, expenses, gains, losses, and dividends. Answer Selected Answer: False Question 2 1 out of 1 points A primary purpose of vertical analysis is to observe trends over a three-year period. Answer Selected Answer: False Question 3 1 out of 1 points In the vertical analysis of an income statement, each item is generally stated as a percentage of net income. Answer Selected Answer: False Question 4 1 out of 1 points Leverage and return on equity are closely related. Answer Selected Answer: True Question 5 1 out of 1 points Because pro forma earnings are based on specific rules, these amounts are highly reliable. Answer Selected Answer: False Question 6 1 out of 1 points Which of the following income statement figures would probably be the best indicator of a company’s future performance? Answer Selected Answer:
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