财务习题集习题集答案解析一起.docx

财务习题集习题集答案解析一起.docx

《财务习题集习题集答案解析一起.docx》由会员分享，可在线阅读，更多相关《财务习题集习题集答案解析一起.docx（162页珍藏版）》请在冰豆网上搜索。

Reading22.FinancialStatementAnalysis:

AnIntroduction试题整理

PRACTICEPROBLEMS

1.Providinginformationabouttheperformanceandfinancialpositionofcompaniessothatuserscanmakeeconomicdecisionsbestdescribestheroleof:

A.auditing.B.financialreporting.

C.financialstatementanalysis.

2.Acompany'scurrentfinancialpositionwouldbestbeevaluatedusingthe:

A.balancesheet.

B.incomestatement.

C.statementofcashflows.

3.Acompany'sprofitabilityforaperiodwouldbestbeevaluatedusingthe:

A.balancesheet.

B.incomestatement.

C.statementofcashflows.

4.Accountingpolicies,methods,andestimatesusedinpreparingfinancialstatementsaremostlikelyfoundinthe:

A.auditor'sreport.

B.managementcommentary.

C.notestothefinancialstatements.

5.Informationaboutmanagementanddirectorcompensationwouldleastlikelybefoundinthe:

A.auditor'sreport.

B.proxystatement.

C.notestothefinancialstatements.

6.Informationaboutacompany'sobjectives,strategies,andsignificantriskswouldmostlikelybefoundinthe:

A.auditor'sreport.

B.managementcommentary.

C.notestothefinancialstatements.

7.Whattypeofauditopinionispreferredwhenanalyzingfinancialstatements?

A.Qualified.B.Adverse.

C.Unqualified.

8.Ratiosareaninputintowhichstepinthefinancialstatementanalysisframework?

A.Processdata.

B.Collectinputdata.

C.Analyze/interprettheprocesseddata.

Reading22.FinancialStatementAnalysis:

AnIntroduction试题答案整理

SolutionsSOLUTIONS

1.Biscorrect.Thisistheroleoffinancialreporting.Theroleoffinancialstatementanalysisistoevaluatethefinancialreports.

2.Aiscorrect.Thebalancesheetportraysthecurrentfinancialposition.Theincomestatementandstatementofcashflowspresentdifferentaspectsofperformance.

3.Biscorrect.Profitabilityistheperformanceaspectmeasuredbytheincomestatement.Thebalancesheetportraysthecurrentfinancialposition.Thestatementofcashflowspresentsadifferentaspectofperformance.

4.Ciscorrect.Thenotesdisclosechoicesinaccountingpolicies,methods,andestimates.

5.Aiscorrect.Informationaboutmanagementanddirectorcompensationisnotfoundintheauditor'sreport.Disclosureofmanagementcompensationisrequiredintheproxystatement,andsomeaspectsofmanagementcompensationaredisclosedinthenotestothefinancialstatements.

6.Biscorrect.Thesearecomponentsofmanagementcommentary.

7.Ciscorrect.Anunqualifiedopinionisa"clean"opinionandindicatesthattheFinancialstatementspresentthecompany'sperformanceandfinancialpositionfairlyinaccordancewithaspecifiedsetofaccountingstandards.

8.Ciscorrect.Ratiosareanoutputoftheprocessdatastepbutareaninputintotheanalyze/interpretdatastep.

Reading23.FinancialReportingMechanics试题整理

1.Whichofthefollowingitemswouldmostlikelybeclassifiedasanoperatingactivity?

A.Issuanceofdebt.

B.Acquisitionofacompetitor.

C.Saleofautomobilesbyanautomobiledealer.

2.Whichofthefollowingitemswouldmostlikelybeclassifiedasfinancingactivity?

A.Issuanceofdebt.

B.Paymentofincometaxes.

C.Investmentsinthestockof'asupplier.

3.Whichofthefollowingelementsrepresentsaneconomicresource?

A.Asset.

B.Liability.

C.Owners'equity.

4.Whichofthefollowingelementsrepresentsaresidualclaim?

A.Asset.

B.Liability.

C.Owners'equity.

5.Ananalysthasprojectedthatacompanywillhaveassetsof€2,000atyear-endandliabilities of

€1,200.Theanalyst'sprojectionoftotalowners'equityshouldbeclosestto:

A.€800.

B.€2,000.

C.€3,200.

6.Ananalysthascollectedthefollowinginformationregardingacompanyinadvanceofitsyear-endearningsannouncement（inmillions）:

Estimatednetincome $200

Beginningretainedearnings $1,400

Estimateddistributionstoowners $100

Theanalyst'sestimateofendingretainedearnings{inmillions}shouldbeclosestto:

A.$1,300.

B.$1,500.

C.$1,700.

7.AnanalysthascompiledthefollowinginformationregardingRubsam,Inc.

Liabilitiesatyear-end

€1,000

Contributedcapitalatyear-end

€

500

Beginningretainedearnings

€

600Revenueduringtheyear

Revenueduringtheyear

€

5,000

Expenses duringtheyear

€

4,300

Therehavebeennodistributionstoowners.Theanalyst'smostlikelyestimateoftotalassetsatyear-endshouldbeclosestto:

A€2,100.

B€2.300.C€2,800.

8.Agroupofindividualsformedanewcompanywithaninvestmentof$500,000.themostlikelyeffectofthistransactiononthecompany'saccountingequationatthetimeoft:

heformationisanincreaseincashand:

A.anincreaseinrevenue.

B.anincreaseinliabilities.

C.anincreaseinContributedcapital.

A.nonet