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CFIN Chapters 1-7 SAQ with questions and answers (download to pass)
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CFIN Chapters 1-7 SAQ with questions and answers (download to pass)
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CFIN Chapters 1-7 SAQ withquestions and answers (download
to pass)
Which ratio shows the average percentage by which sales price exceeds
the cost of goods sold?
Select one:
a. profit margin
b. asset turnover
c. gross margin
d. receivables turnover
e. return on assets - answer gross margin
Matching refers to including all expenses incurred to realize the revenues
reported.
Select one:
a. TRUE
b. FALSE - answer TRUE
Net Income is a part of
Select one:
a. Cash flow from operating expenses
b. Cash flow from investing activities
c. Cash flow from debt activities
d. None of the above - answer cash flow from operating expenses
Depreciation is a noncash expense.
Select one:
a. TRUE
,b. FALSE - answer TRUE
Although the cash flow statement using the indirect method is useful, it
does not show net income for the period.
Select one:
a. TRUE
b. FALSE - answer FALSE
Which of the following measures a firms's profitability and asset usage
skill?
Select one:
a. Liquidity ratios
b. Operating performance ratios
c. Financial strength ratios
d. None of the above - answer operating performance ratios
Which of the following statements fulfills a firm's requirement to disclose
its earnings for a period?
Select one:
a. Statement of Financial Position
b. Income Statement
c. Inventory Statement
d. Cash Flow Statement - answer income statement
Which of the following ratios measure liquidity?
Select one:
a. debt to equity
b. current
c. quick
d. B & C
e. None of the above - answer b and c
, Comprehensive Income of the period is shown on the
Select one:
a. Income Statement
b. Balance Sheet
c. Statement of Retained Earnings
d. None of the above - answer income statement
The "snapshot in time" statement is
Select one:
a. the balance sheet
b. the cash flow statement
c. the income statement
d. none of the above - answer the balance sheet
The single most significant item in a financial projection is
Select one:
a. inventory.
b. accounts receivable
c. sales
d. accounts payable
e. none of the above - answer sales
General economic conditions is a subset of sales influences that impact an
industry.
Select one:
a. TRUE
b. FALSE - answer TRUE
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