Graded Homework

QUESTION 30

1. The principal customers of pet nutrition products are retail trade customers and wholesale distributors.

   True

   False

QUESTION 31

1. What were the amount of dividends paid for the year ended December 31, 2015?
   

   A.	$1,277
   B.	$12,003
   C.	$1,493
   D.	$1,382

QUESTION 32

1. Shipping and handling costs to customers are classified in cost of goods sold.

   True

   False

QUESTION 33

1. Cash was provided by financing activities for the year ended December 31, 2015.

   True

   False

QUESTION 34

1. Treasury stock acquired during the year ended December 31, 2015 was
   

   A.	$2,387
   B.	$932
   C.	$1,551
   D.	$784

QUESTION 35

1. Colgate reduces sales by continuing promotional programs. What is an example of continuing promotional programs?
   

   A.	product samples
   B.	consumer coupons
   C.	free freight
   D.	TV advertising

QUESTION 36

1. What is Colgate’s gross profit for the year ended December 31, 2015?
   

   A.	$9,399
   B.	$2,339
   C.	$10,109
   D.	$3,557

QUESTION 37

1. What is the balance of Common Stock account at January 1, 2013?
   

   A.	$1,870
   B.	$2,019
   C.	$1,097
   D.	$1,466

QUESTION 38

1. Colgate’s independent registered public accounting firm for the year ended December 31, 2015 was
   

   A.	Deloitte
   B.	Ernst & Young
   C.	KPMG
   D.	PriceWaterhouseCoopers

QUESTION 39

1. Colgate uses the _____________ in preparing its income statements.
   

   A.	multi-step format.
   B.	single-step format.

QUESTION 40

1. Colgate’s stock performance graphs on page 107 of the annual report are examples of
   

   A.	ratio analysis.
   B.	trend analysis.
   C.	horizontal analysis.
   D.	vertical analysis.

QUESTION 41

1. Colgate establishes accruals for loss contingencies when it has determined that a loss is probable and that the amount of loss, or range of loss, can be reasonably estimated. Any such accruals are adjusted thereafter as appropriate to reflect changes in circumstances.

   True

   False

QUESTION 42

1. The cash effects of the change in receivables generated cash in operating activities for the year ended December 31, 2015.

   True

   False

QUESTION 43

1. Capital expenditures in 2015 were higher as compared to the prior year period.

   True

   False

QUESTION 44

1. The decrease in SG&A as a percentage of net sales in 2015 as compared to 2014 was due, in part, to decrease in advertising.

   True

   False

QUESTION 45

1. Colgate and other companies that compete in the oral care business and are required to use the same methods to value inventory and to depreciate similar assets.

   True

   False

2. QUESTION 46

3. Cash proceeds from the issuance of debt for the year ended December 31, 2013 was
   

   A.	$5,452
   B.	$3,491
   C.	$8,960
   D.	$7,976

QUESTION 47

1. Colgate’s gross profit margin for the year ended December 31, 2015 was approximately
   

   A.	59%.
   B.	37%.
   C.	49%.
   D.	55%.

QUESTION 48

1. Sales of oral, personal and home care products to Wal-Mart Stores, Inc. and its affiliates represent approximately 8% of Colgate’s net sales in 2015.

   True

   False

QUESTION 49

1. Inventories at December 31, 2015 consist primarily of raw materials and supplies.

   True

   False

QUESTION 50

1. Which class of Colgate’s products represents the smallest category for the year ended December 31, 2105.
   

   A.	Oral Care
   B.	Personal Care
   C.	Pet Nutrition
   D.	Home Care