Which of the following approaches does the Financial Accounting Standards Board follow in establishing generally accepted accounting principles?

A ______________ involves comparing a given firm's ratios with those of other firms for a particular period.

The ______________ is computed by dividing cash flow from operations by average current liabilities.

Which ratio assess the firm's operating performance independently of financing decisions?

The ______________ is a private sector group that has been given the responsibility of establishing acceptable accounting standards in the United States.

The primary source of cash for most firms should be _______________.

How are retained earnings calculated?

What is the first statement to calculate before moving on to the statement of retained earnings?

Which component of a financial statement will tell you, ultimately, whether a company has earned or lost money?

How do you calculate the Current Ratio?

True or false? A company can never have negative income tax liabilities.