[Anonymous]

So working through some sims, and i come to this sim in Wiley test bank: Aud-sim-022

Im not gonna try to retype all of it, but basically if anyone out there can go through and find this sim, and explain something to me, i would greatly appreciate it.

On numbers 2 and 3, I pick choice A

I understand why their answer is correct, but I fail to see why my answer is incorrect… in fact, i fail to see how their answer is better at all? Please only a couple of days until test day and the ratios are killing me.

[Anonymous]

Maybe you could just retype 2 and 3? Trying to find that SIM in the test bank is not going to be particularly easy. 😛 I'd love to help, but don't honestly feel like going through allllll the SIMs to find it!

[Anonymous]

lilla thanks anyway, but i called a cpa friend of mine, together we figured out why my answer was incorrect, or at least we think we did….

So my next question is, in the debt to equity ratio, is it strictly “debt” like Notes payable, or would accounts payable be included in the debt to equity ratio at well?

[finne]

It's Total Liabilities / Total Equity, so that includes both current and long-term debt.

REG - 85
AUD - 99
FAR - 89 - w/ NINJA Audio and Blitz
BEC - 91

Using Wiley - books and test bank - 6 months - all 4 first time

[Author]

Replies