Refer to the EZ Electronics annual report above. Using vertical analysis, 2011 net income would be represented as ________

Which of the following are liquidity ratios?

I. cash coverage ratio II. current ratio III. quick ratio IV. inventory turnover A. II and III only B. I and II only C. II, III, and IV only D. I, III, and IV only E. I, II, III, and IV

Which of the following correctly describes the accounting for factory depreciation?

A) Factory depreciation is a product cost and is expensed as incurred. B) Factory depreciation is a period cost and is expensed as incurred. C) Factory depreciation is a product cost and is expensed when the manufactured product is sold. D) Factory depreciation is a period cost and is expensed when the manufactured product is sold.