ACCT 3309 Exam 3 Questions with Correct Answers Latest Update 2025/2026
Which of the following ratios measures a company's total asset productivity? - Answers Return
on assets ratio
An estimate of how much a non-current, tangible asset declines in value in a given period is
called _______. - Answers Depreciation
All of the following are defined as assets, except ______. - Answers Retained Earnings
All of the following tend to be prepaid expenses, except ______. - Answers Wages
A company will invest in PP&E if its _______. - Answers NPV is positive
Nike's swoosh is considered to be _______. - Answers A trademark
All of the following are attributes of land, except ______. - Answers It depreciates in value
When one party pays the owner of the property a fee to use the property for a specific time
period, this is called ______. - Answers Leasing
All of the following are tangible assets, except ______. - Answers Goodwill
How many days it takes on average to collect receivables is measured by the ______. - Answers
Accounts receivable collection period
All of the following are typically considered to be current assets, except ______. - Answers PP&E
When intangible assets, except for goodwill, lose value over time this is called _______. -
Answers Amortization
Which of the following statements is true? - Answers The more volatile a business is the more
cash and marketable securities it will hold
The total value a non-current asset has lost in its lifetime is called ______. - Answers
Accumulated depreciation
______ is an economic resource that the business owns and uses to make an operating profit. -
Answers An asset
During the transformation of the raw materials into a finished good, inventory is called ______. -
Answers Work-in-process
The fixed asset turnover is calculated in the following way: - Answers Annual sales divided by
investment in PP&E
The current law that governs copyrights is the ______. - Answers Copyright Revision act of 1976
Which of the following ratios measures a company's total asset productivity? - Answers Return
on assets ratio
An estimate of how much a non-current, tangible asset declines in value in a given period is
called _______. - Answers Depreciation
All of the following are defined as assets, except ______. - Answers Retained Earnings
All of the following tend to be prepaid expenses, except ______. - Answers Wages
A company will invest in PP&E if its _______. - Answers NPV is positive
Nike's swoosh is considered to be _______. - Answers A trademark
All of the following are attributes of land, except ______. - Answers It depreciates in value
When one party pays the owner of the property a fee to use the property for a specific time
period, this is called ______. - Answers Leasing
All of the following are tangible assets, except ______. - Answers Goodwill
How many days it takes on average to collect receivables is measured by the ______. - Answers
Accounts receivable collection period
All of the following are typically considered to be current assets, except ______. - Answers PP&E
When intangible assets, except for goodwill, lose value over time this is called _______. -
Answers Amortization
Which of the following statements is true? - Answers The more volatile a business is the more
cash and marketable securities it will hold
The total value a non-current asset has lost in its lifetime is called ______. - Answers
Accumulated depreciation
______ is an economic resource that the business owns and uses to make an operating profit. -
Answers An asset
During the transformation of the raw materials into a finished good, inventory is called ______. -
Answers Work-in-process
The fixed asset turnover is calculated in the following way: - Answers Annual sales divided by
investment in PP&E
The current law that governs copyrights is the ______. - Answers Copyright Revision act of 1976
