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TEST BANK FOR Financial & Managerial Accounting for MBAs, 4th Edition by Easton, Halsey, McAnally, Hartgraves & Morse latest edition graded A+(2024) $16.99
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TEST BANK FOR Financial & Managerial Accounting for MBAs, 4th Edition by Easton, Halsey, McAnally, Hartgraves & Morse latest edition graded A+(2024)
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TEST BANK FOR Financial & Managerial Accounting for MBAs, 4th Edition by Easton, Halsey, McAnally, Hartgraves & Morse latest edition graded A+(2024)

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  • January 31, 2024
  • 550
  • 2023/2024
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TEST BANK:
Financial & Managerial Accounting for MBAs,
4th Edition by Easton, Halsey, McAnally,
Hartgraves & Morse graded A+

,Table of Contents
Module 1: Financial Accounting for MBAs ....................................................................................... 4
Module 2: Introducing Financial Statements and Transaction Analysis .......................................... 2
Module 3: Constructing Financial Statements and Analyzing Transactions ..................................... 2
Module 5: Reporting and Analyzing Operating Income................................................................... 2
Module 6: Reporting and Analyzing Operating Assets .................................................................. 52
Module 7: Reporting and Analyzing Intercorporate Investments ..................................................... 2
Module 8: Reporting and Analyzing Nonowner Financing ............................................................... 2
Module 9 – Reporting and Analyzing Owner Financing .................................................................... 2
Module 10: Reporting and Analyzing Off-Balance-Sheet Financing ............................................... 2
Module 11: Adjusting and Forecasting Financial Statements ......................................................... 2
Module 12: Analyzing and Valuing Equity Securities .................................................................... 50

,Module 1
Financial Accounting for MBAs


Learning Objectives – coverage by question
True/ Multiple Essay
Exercises Problems
False Choice Questions
LO1 Identify and
discuss the
users and
suppliers of
1-4 1-2 - 1 1-2
financial
statement
information.

LO2 Identify and
explain the four
financial
statements, and
5-10 3-19 1-8 2-5 3
define the
accounting
equation.

LO3 Explain and
apply the basics
of profitability 11-13 20-25 9-10 6-7 4
analysis.

LO4 Describe
business
analysis within
the context of a 14 26-27 - 8 -
competitive
environment.

LO5 Describe
the accounting
principles and
15 28-30 - 9-10 5
regulations that
frame financial
statements.

, Module 1: Financial Accounting for MBAs


True/False
Topic: Users of Financial Statement Information
LO: 1
1. Shareholders demand financial information primarily to assess profitability and risk whereas
bankers demand information primarily to assess cash flows to repay loan interest and principle.

Answer: True
Rationale: While both shareholders and bankers are interested in all the information company’s
provide, shareholders care about more about a company’s profitability and bankers care more about
solvency and creditworthiness.


Topic: Publicly available financial reports
LO: 1
2. Publicly traded companies are required to provide quarterly financial reports directly to the public.

Answer: False
Rationale: Companies provide electronic versions of quarterly financial statements to the SEC that
posts them to the internet for the public to access them.


Topic: Users of Financial Statement Information
LO: 1
3. Publicly traded companies provide financial information primarily to satisfy the SEC and the tax
authorities (that is, the Internal Revenue Service).

Answer: False
Rationale: Demand for information extends to many users, the regulators such as the SEC and the
IRS are only one class of users.


Topic: SEC filings
LO: 1
4. Publicly traded companies must provide to the Securities Exchange Commission annual audited
financial statements (10K reports) and quarterly audited financial statements (10Q reports).

Answer: False
Rationale: Quarterly reports do not need to be audited.


Topic: Balance Sheet
LO: 2
5. If a company reports retained earnings of $175.3 million on its balance sheet, it must also report
$175.3 million in cash.

Answer: False
Rationale: The accounting equation requires total assets to equal total liabilities plus stockholders’
equity. That does not imply, however, that liability and equity accounts relate directly to specific
assets.

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