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Question Which departments are responsible for preparing the sales order, approving the sales order, preparing the bill of lading, and preparing the invoice? Answer Sales department: Prepares the sales order Credit department: Approves the sales order Shipping department: Prepares the bill of lading Billing department: Prepares the invoice

U3 B.1. Strategic Planning Question Define a master budget. Answer A master budget documents specific short-term operating performance goals for a period of time, normally one year or less. The plan generally includes an operating (nonfinancial) budget as well as a financial budget. © Becker Professional Education. All rights reserved. U3 B.1. Strategic Planning Question List Porter's five external forces that affect the competitive environment and profitability of a firm. Answer ...

U1 A.1. Financial Statements: Part 1 Question How is gross margin calculated? Answer © Becker Professional Education. All rights reserved. U1 A.1. Financial Statements: Part 1 Question Who are the primary users of general purpose financial reports? Answer Existing and potential: Investors Lenders Other creditors © Becker Professional Education. All rights reserved. U1 Page 2 of 59 FC-01519 CSO: 1A1a LOS: 1A1e #4 FC-01518 CSO: 1A1a LOS: 1A1e #3 1. 2. 3. 4. 1. 2. 3. 4. ...

Part 1 Formula Reference Guide Term Formula Unit Absorption costing equation − Revenue Less: cost of goods sold − Gross margin Less: operating expenses (both fixed and variable) Net income 2 Accounting equation (or balance sheet equation) Assets = Liabilities + Owners' equity (or stockholders' equity) 1 Asset turnover Asset turnover = Sales Assets 4 Budgeted production Budgeted sales + Desired ending inventory – Beginning inventory Budgeted production 3 Cash bu...

CMA EXAM QUESTION AND ANSWERS 2024 A+ True or False. Category Management is only possible if you have a full suite of data and automated tools to work with. - ANS False - You can do category management - just less sophisticated - with limited data & technology Match up each component to their best description: 1. Category Assessment 2. Category Tactics 3. Category Scorecard 4. Category Strategies - ANS 1. Uncovers the biggest areas of opportunity for the retailer. 2. Creates action in...

CMA Part 1 – Financial Planning, Performance and Control Examination Practice Questions Section A: External Financial Reporting Decisions 1. CSO: 1A1a LOS: 1A1a The financial statements included in the annual report to the shareholders are least useful to which one of the following? a. Stockbrokers. b. Bankers preparing to lend money. c. Competing businesses. d. Managers in charge of operating activities. 2. CSO: 1A1a LOS: 1A1e When a fixed asset is sold for less than book val...

Wiley CMA Notes Part 1 FINANCIAL PLANNING, PERFORMANCE AND ANALYTICS 2024

Wiley CMA Notes part 2 FINANCIAL DECISION-MAKING STUDY NOTES

Shareholders and prospective investors: To determine their return on investment. Financial institutions: Assess the ability to pay on loans and keep debt covenants. Suppliers: Assess the ability of their customers to pay bills on time. Customers: Assess whether the suppliers will remain in business. Competitors: Compare their performance to others in the industry. Regulators: Assess whether public organizations have adhered to accounting and reporting requirements.

CMA EXAM QUESTION AND ANSWERS 2024 A+ True or False. Category Management is only possible if you have a full suite of data and automated tools to work with. - ANS False - You can do category management - just less sophisticated - with limited data & technology Match up each component to their best description: 1. Category Assessment 2. Category Tactics 3. Category Scorecard 4. Category Strategies - ANS 1. Uncovers the biggest areas of opportunity for the retailer. 2. Creates action in...