财务报表分析与运用习题Word文档下载推荐.docx

财务报表分析与运用习题Word文档下载推荐.docx

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D.Impairments,write-offs,write-downs,andrestructuringcosts.

4.Whenacompanydiscontinuesanddisposesofanoperation,theactionisconsidered:

A.anextraordinaryitem.

B.apriorperiodadjustment.

C.acumulativeeffectofachangeinanaccountingprinciple.

D.separatelyandshownnetoftaxesontheincomestatement.

5.Whichoneofthefollowingisachangeinanaccountingprinciples?

A.AchangefromFIFOtoLIFO.

B.Recordingapriorperiodadjustment.

C.Achangeintheestimatedservicelifeofmachinery.

D.Recordingdepreciationexpenseforthefirsttimeonmachinerypurchasedfiveyearsago.

6.AllofthefollowingaregeneralcategoriesofnonrecurringitemsEXCEPT:

A.unusualorinfrequentitems.

B.discontinuedoperations.

C.capitalizationofleases.

D.accountingchanges.

7.Afirmdiscoveredthatithadusedanincorrectaccountingprinciplesin1996.Onthefirm’s1997financialstatements,thisfirmshouldreporttheimpactofthiserroras:

B.Anonrecurringitem.

C.Partofcostofgoodssold.

D.Apriorperiodadjustment.

8.Thecompletedcontractmethodshouldbeusedwhen

A.Thereisareasonableestimateofthecoststobeincurred.

B.Thereisacontractprice.

C.Collectibilityofthecontractpriceisuncertain.

D.Thereisareasonableestimateoftherevenues.

9.Usingthepercentage-of-completionmethodinaccountingforlong-termprojects,acompanycanincreasereportedearningsby:

A.acceleratingrecognitionofprojectexpenditures.

B.delayingrecognitionofprojectexpenditures.

C.switchingtocompletedcontractaccounting

D.overestimatingthetotalcostoftheproject.

10.Whichofthefollowingwouldbeanexampleofmanagementattemptingtomanipulateincome?

A.achangefromastraight-linetoanaccelerateddepreciationinordertoincreaseincome.

B.recognizinglossesinbadyearsandrecognizinggainsingoodyears.

C.additionallossesaretakeninbadyears

D.againfromthecondemnationofpropertybythecityisshowninincomefromcontinuingoperations,whilealossonthesaleofequipmentisshownafterincomefromcontinuingoperations.

11.Whenaccountingformerchandisingbusinesses,grossmarginequalsthedifferencebetween:

A.netsalesandcostofgoodssold.

B.netsalesandoperatingexpenses.

C.grosssalesandthesumofreturnsandallowances.

D.netsalesandthesumofcostofgoodssoldandoperatingexpenses.

11.Whichofthefollowingwouldnotcontributetothedifferencebetweengrosssalesandnetsales?

A.cashrefundsforreturnedproducts.

B.Discountsfromlistedpricesfordelayedshipping.

C.Allowanceoffsellingpricesfordefectiveproducts

D.Salesmadeoncreditratherthanforimmediatepayment.

12.Amongthefollowingitems,whichisaddedtonetincomeforcalculationofcashflowsfromoperatingactivitiesintheindirectmethod?

A.decreaseofinventory.

B.Increaseofprepaidexpenses.

C.Decreaseofaccountspayable.

D.Increaseofaccountsreceivable.

13.IntheStatementofCashFlows,whichofthefollowingbestdescribeswhetherinterestreceivedandinterestpaid,respectively,areclassifiedasoperatingorinvestingcashflow?

InterestReceivedInterestpaid

A.OperatingOperating

B.OperatingInvesting

C.InvestingOperating

D.InvestingInvesting

14.FASBistryingtodoprojectsrelatedtointernationalconvergencewith:

A.IASB

B.SEC

C.IOSCO

D.FederalReserveBoard

15.Whichofthefollowingisnotconsideredanasset?

A.Inventory

B.Trademarks

C.Retainedearnings.

D.Accountsreceivable.

16.Ifacompany’sendinginventoryisunderstatedby$3,000andbeginninginventoryisoverstatedby$5,000,thecompany’soperatingincomewillmostlikelybe:

A.overstatedby$2,000.

B.overstatedby$8,000

C.understatedby$2,000

D.understatedby$8,000

17.Depreciationdiffersfromothertypesofexpensesinthatdepreciation:

A.canbemeasuredmoreprecisely.

B.Doesnotrequireanimmediatecashoutlay.

C.Isnotdeductibleifitwouldresultinanetloss.

D.Canbeavoidedifthecompanyacquiresusedassets.

18.Whichofthefollowingaccuratelydescribestheeffectsofapurchaseoftreasurystockonacompany’sassetsandstockholders’equity?

AssetsStockholders’Equity

A.DecreasedDecreased

B.DecreasedUnchanged

C.UnchangedDecreased

D.UnchangedUnchanged

19.Acompany’sassetsandstockholders’equityaremostlikelytobereducedby:

A.stocksplits.

B.Cashdividends.

C.Stockdividends.

D.Reversestocksplits.

20.Netincomeequals:

A.sales-costofgoodssold.

B.Incomebeforeoperation-incometaxes.

C.Grossmargin-operationexpenses.

D.Incomefromoperations+/-otherrevenueandexpenses.

21.Ifthebeginninginventoryis$15,000,theendinginventoryis$18,000,andtheCOGSis$20,000.Sotheinventoryturnoveris:

A.100%

B.110%

C.121%

D.124%

22.acorporationwantstoincreaseitscurrentratiofromthepresentlevelofbeforeitendsitsfiscalyear.Theactionhavingthedesiredeffectis:

A.delayingthenextpayroll.

B.Writingdownimpairedassets.

C.Payingcurrentpayablesfromcash.

D.Sellingcurrentmarketablesecuritiesforcashattheirbookvalue.

23.Afirm’smostrecentquarterlystatementshowsacurrentratiogreaterthanone.Justbeforethecloseofthestatement,thecompanypaidlargeamountstocreditors.Thefeeofthepaymentswasto:

A.decreasenetworkingcapital.

B.Increasenetworkingcapital.

C.Increasethecurrentratio.

D.Decreasethecurrentratio.

24.AllofthefollowingratiosincludenetincomeintheircomputationEXCEPT:

A.assetturnover.

B.Profitmargin.

C.Returnonequity.

D.Returnonassets.

25.Whichoneofthefollowingwouldbestexplainasituationwheretheratioof“netincometototalequity〞forafirmishigherthantheindustryaverage,whiletheratioof“netincometototalassets〞islowerthantheindustryaverage?

A.netprofitmarginishigherthantheindustryaverage.

B.Debtratioishigherthantheindustryaverage

C.Assetturnoverishigherthantheindustryaverage

D.Equitymultipliermustbelowerthantheindustryaverage

26.Amajoruseofcommon-sizefinancialstatementsis:

A.valueacompany.

B.Compareacompanytotheaggregateeconomy.

C.Comparetwocompaniesofdifferentsize.

D.Noneoftheabove.

mon-sizefinancialstatementsexpressacompany’saccountsrelativeto:

A.theaggregateeconomy

B.thecompany’sownassetsandsales.

C.Thecompany’spastratios.

D.Noeoftheabove

28.Internalliquidityorsolvencyratiosindicatetheabilityofthefirmto:

A.meetfutureshorttermfinancialobligations.

B.Meetfuturelongtermfinancialobligations.

C.Settlecurrentdebtwithfixedassets.

D.Settlefutureshorttermdebtwithfixedassets.

29.Whichofthefollowingcompanieswouldhaveacompletecapitalstructure?

A.acompanywithcommonstockoutstandingandnon-convertiblepreferredstockoutstanding

B.acompanywithcommonstockoutstandingandstockoptionsoutstanding.

C.acompanywithcommonstockoutstandingandconvertiblebondsoutstanding

D.bothBandC.

30.Potentialcommonstockcanbedescribedas:

A.commonstockinform.

B.Notcommonstockinformbutwithvotingpowersofcommonstock.

C.Stockthathasthepotentialtobecommonstock.

D.Notcommonstockinformbutenablingholderstoobtaincommonstockuponexerciseorconversion.

31.IncalculatingtheweightedaveragenumberofsharesoutstandingforEPS,asubsequenteventthatistreatedasifitoccurredatthebeginningoftheearliestperiodisthe:

A.purchaseoftreasurystock.

B.Saleofconvertiblebonds

C.Declarationandissuanceofastocksplit

D.Saleofcommonstock.

32.Theweightedaveragenumberofcommonsharesoutstandingduringtheperiodshouldberetroactivelyrestatedfor:

A.stockdividends

B.stocksplits

C.bothAandB

D.neitherAnorB

33.WhencomparingendinginventoriesusingtheFIFOandLIFOmethodsofvaluation,fromabalancesheetperspective

A.inventoriesbasedonLIFOarepreferabletothosepresentedunderFIFOascarryingvaluesmostcloselyreflectcurrentcost.

B.inventoriesbasedonFIFOarepreferabletothosepresentedunderLIFOascarryingvaluesdonotreflectcurrentcost

C.inventoriesbasedonLIFOarepreferabletothosepresentedunderFIFOascarryingvaluesdonotreflectcurrentcost

D.inventoriesbasedonFIFOarepreferabletothosepresentedunderLIFOascarryingvaluesmostcloselyreflectcurrentcost

34.Whichoneofthefollowingstatementsaboutstraight-linedepreciationisTRUE?

Straight-linedepreciation:

A.resultsinadecreasingreturnonequityovertheasset’slife.

B.Introducesabuilt-inincreaseinreturnoninvestmentovertheasset’slife.

C.Recognizestheincreasingrateofobsolescenceofanassetwiththepassageoftime.

D.Resultsinhighertotaltaxpaymentsoverthelifeofanassetthanaccelerateddepreciation.

35.Amachineispurchasedfor$3,000,andhasanestimatedusefullifeoffiveyears.Itssalvagevalueise