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Ivy CFIN Quizzes 1-7 Questions and Complete Solutions Graded A+
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Ivy CFIN Quizzes 1-7 Questions and Complete Solutions Graded A+
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Ivy CFIN Quizzes 1-7 Questions and
Complete Solutions
Graded A+
Denning [Date] [Course title]
,The statement that shows all investments in the company and all the distributions during a reporting
period is called
a. the cash flow statement.
b. the working capital statement.
c. the sources and uses of funds statement
d. the statement of owner's equity.
e. none of the above. - Answer: d. the statement of owner's equity.
The statement which records a firm's financial position on a single day is called the income statement.
T/F - Answer: False
Comprehensive Income of the period is shown on the
a. Income Statement
b. Balance Sheet
c. Statement of Retained Earnings
d. None of the above - Answer: a. Income Statement
Depreciation expense is a good example of which of the following generally accepted accounting
principles?
a. Relevance
b. Matching
c. Reliability
d. Understandability - Answer: b. Matching
Generally speaking, large increases in sales by a company require more investments in inventories and
receivables. T/F - Answer: True
Which ratio shows the average percentage by which sales price exceeds the cost of goods sold?
a. profit margin
b. asset turnover
, c. gross margin
d. receivables turnover
e. return on assets - Answer: c. gross margin
Depreciation is a noncash expense. T/F - Answer: True
Net Income is a part of
a. Cash flow from operating expenses
b. Cash flow from investing activities
c. Cash flow from debt activities
d. None of the above - Answer: a. Cash flow from operating expenses
The P/E ratio indicates the stock market's opinion of a company's prospects for growth and earnings as
well as the market's perception of the firm's risk. T/F - Answer: True
Matching refers to including all expenses incurred to realize the revenues reported. T/F - Answer: True
One of the qualitative factors that impacts the industry is an industry maturity and profit trends. T/F -
Answer: True
Which statement is typically projected first?
a. Balance sheet
b. Income statement
c. Statement of retained earnings
d. None of the above - Answer: b. Income statement
There are three distinct steps in developing pro forma statements. Which of the following is not one of
those steps?
a. qualitative analysis
b. quantitative analysis
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