财务习题集习题集答案解析一起.docx

1、Reading 22 . Financial Statement Analysis: An Introduction 试题整理PRACTICE PROBLEMS1. Providing information about the performance and financial position of companies so that users can make economic decisions best describes the role of:A .auditing. B.financial reporting.C.financial statement analysis.2.

2、 A companys current financial position would best be evaluated using the:A. balance sheet.B .income statement.C .statement of cash flows.3 .A companys profitability for a period would best be evaluated using the: A .balance sheet.B .income statement.C .statement of cash flows.4 .Accounting policies,

3、 methods, and estimates used in preparing financial statements are most likely found in the:A .auditors report.B .management commentary.C .notes to the financial statements.5 .Information about management and director compensation would least likely be found in the: A .auditors report.B .proxy state

4、ment.C. notes to the financial statements.6 .Information about a companys objectives, strategies, and significant risks would most likely be found in the:A .auditors report.B .management commentary.C .notes to the financial statements.7 . What type of audit opinion is preferred when analyzing financ

5、ial statements?A .Qualified. B .Adverse.C .Unqualified.8 . Ratios are an input into which step in the financial statement analysis framework?A .Process data.B .Collect input data.C .Analyze/interpret the processed data.Reading 22 . Financial Statement Analysis: An Introduction 试题答案整理Solutions SOLUTI

6、ONS1. B is correct. This is the role of financial reporting. The role of financial statement analysis is to evaluate the financial reports.2. A is correct. The balance sheet portrays the current financial position. The income statement and statement of cash flows present different aspects of perform

7、ance.3. B is correct. Profitability is the performance aspect measured by the income statement. The balance sheet portrays the current financial position. The statement of cash flows presents a different aspect of performance.4. C is correct. The notes disclose choices in accounting policies, method

8、s, and estimates.5. A is correct. Information about management and director compensation is not found in the auditors report. Disclosure of management compensation isrequired in the proxy statement, and some aspects of management compensation are disclosed in the notes to the financial statements.6.

9、 B is correct. These are components of management commentary.7. C is correct. An unqualified opinion is a clean opinion and indicates that the Financial statements present the companys performance and financial position fairly in accordance with a specified set of accounting standards.8. C is correc

10、t. Ratios are an output of the process data step but are an input into the analyze/interpret data step.Reading 23 . Financial Reporting Mechanics 试题整理1. Which of the following items would most likely be classified as an operating activity? A .Issuance of debt. B .Acquisition of a competitor. C. Sale

11、 of automobiles by an automobile dealer. 2. Which of the following items would most likely be classified as financing activity? A .Issuance of debt. B .Payment of income taxes. C .Investments in the stock of a supplier. 3. Which of the following elements represents an economic resource? A. Asset. B

12、.Liability. C. Owners equity.4 .Which of the following elements represents a residual claim? A .Asset. B .Liability. C .Owners equity.5. An analyst has projected that a company will have assets of 2,000 at year-end and liabilitiesof1,200. The analysts projection of total owners equity should be clos

13、est to: A . 800.B . 2,000.C. 3,200.6. An analyst has collected the following information regarding a company in advance of its year-end earnings announcement (in millions):Estimated net income$ 200Beginning retained earnings$ 1,400Estimated distributions to owners$ 100 The analysts estimate of endin

14、g retained earnings in millions should be closest to: A .$1,300. B. $1,500. C. $1,700.7. An analyst has compiled the following information regarding Rubsam, Inc.Liabilities at year-end 1,000Contributed capital at year-end500Beginning retained earnings600Revenue during the yearRevenue during the year

15、5,000Expensesduring the year4,300There have been no distributions to owners. The analysts most likely estimate of total assets at year- end should be closest to: A 2,100.B 2.300. C 2,800.8. A group of individuals formed a new company with an investment of $500,000. the most likely effect of this transaction on the companys accounting equation at the time of t:he formation is an increase in cash and: A .an increase in revenue. B .an increase in liabilities. C. an increase in Contributed capital.A . no net