财务习题集习题集答案解析一起Word文档下载推荐.docx

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C.notestothefinancialstatements.

5.Informationaboutmanagementanddirectorcompensationwouldleastlikelybefoundinthe:

A.auditor'

B.proxystatement.

C.notestothefinancialstatements.

6.Informationaboutacompany'

sobjectives,strategies,andsignificantriskswouldmostlikelybefoundinthe:

7.Whattypeofauditopinionispreferredwhenanalyzingfinancialstatements?

A.Qualified.B.Adverse.

C.Unqualified.

8.Ratiosareaninputintowhichstepinthefinancialstatementanalysisframework?

A.Processdata.

B.Collectinputdata.

C.Analyze/interprettheprocesseddata.

AnIntroduction试题答案整理

SolutionsSOLUTIONS

1.Biscorrect.Thisistheroleoffinancialreporting.Theroleoffinancialstatementanalysisistoevaluatethefinancialreports.

2.Aiscorrect.Thebalancesheetportraysthecurrentfinancialposition.Theincomestatementandstatementofcashflowspresentdifferentaspectsofperformance.

3.Biscorrect.Profitabilityistheperformanceaspectmeasuredbytheincomestatement.Thebalancesheetportraysthecurrentfinancialposition.Thestatementofcashflowspresentsadifferentaspectofperformance.

4.Ciscorrect.Thenotesdisclosechoicesinaccountingpolicies,methods,andestimates.

5.Aiscorrect.Informationaboutmanagementanddirectorcompensationisnotfoundintheauditor'

sreport.Disclosureofmanagementcompensationisrequiredintheproxystatement,andsomeaspectsofmanagementcompensationaredisclosedinthenotestothefinancialstatements.

6.Biscorrect.Thesearecomponentsofmanagementcommentary.

7.Ciscorrect.Anunqualifiedopinionisa"

clean"

opinionandindicatesthattheFinancialstatementspresentthecompany'

sperformanceandfinancialpositionfairlyinaccordancewithaspecifiedsetofaccountingstandards.

8.Ciscorrect.Ratiosareanoutputoftheprocessdatastepbutareaninputintotheanalyze/interpretdatastep.

Reading23.FinancialReportingMechanics试题整理

1.Whichofthefollowingitemswouldmostlikelybeclassifiedasanoperatingactivity?

A.Issuanceofdebt.

B.Acquisitionofacompetitor.

C.Saleofautomobilesbyanautomobiledealer.

2.Whichofthefollowingitemswouldmostlikelybeclassifiedasfinancingactivity?

B.Paymentofincometaxes.

C.Investmentsinthestockof'

asupplier.

3.Whichofthefollowingelementsrepresentsaneconomicresource?

A.Asset.

B.Liability.

C.Owners'

equity.

4.Whichofthefollowingelementsrepresentsaresidualclaim?

A.Asset.

C.Owners'

5.Ananalysthasprojectedthatacompanywillhaveassetsof€2,000atyear-endandliabilities of

€1,200.Theanalyst'

sprojectionoftotalowners'

equityshouldbeclosestto:

A.€800.

B.€2,000.

C.€3,200.

6.Ananalysthascollectedthefollowinginformationregardingacompanyinadvanceofitsyear-endearningsannouncement（inmillions）:

Estimatednetincome $200

Beginningretainedearnings $1,400

Estimateddistributionstoowners $100

Theanalyst'

sestimateofendingretainedearnings{inmillions}shouldbeclosestto:

A.$1,300.

B.$1,500.

C.$1,700.

7.AnanalysthascompiledthefollowinginformationregardingRubsam,Inc.

Liabilitiesatyear-end

€1,000

Contributedcapitalatyear-end

€

500

Beginningretainedearnings

600Revenueduringtheyear

Revenueduringtheyear

5,000

Expenses duringtheyear

4,300

Therehavebeennodistributionstoowners.Theanalyst'

smostlikelyestimateoftotalassetsatyear-endshouldbeclosestto:

A€2,100.

B€2.300.C€2,800.

8.Agroupofindividualsformedanewcompanywithaninvestmentof$500,000.themostlikelyeffectofthistransactiononthecompany'

saccountingequationatthetimeoft:

heformationisanincreaseincashand:

A.anincreaseinrevenue.

B.anincreaseinliabilities.

C.anincreaseinContributedcapital.

A.nonetchangeinassets.

B.adecreaseinassetsof$8,000.

C.adecreaseinassetsof$12,000.

9. HVG,LLCpaid$12,000ofcashtoarealestatecompanyuponsigningaleaseon31December2005.Thepaymentrepresentsa$4,000securitydepositand$4,000ofrentforeachofJanuary2006andFebruary2006.AssumingthatthecorrectaccountingistoreflectbothJanuaryandFebruaryrentasprepaid.ThemostlikelyeffectonHVG'

saccountingequationinDecember2005is:

A.€O.

B. €2,000.

C. €10,000.

10.TRREnterprisessoldproductstocustomerson30June2006foratotalpriceof€10,000.Thetermsofthesalearethatpaymentisduein30days.Thecostoftheproductswas€8,000.ThemostlikelynetchangeinTRR'

stotalassetson30June2006relatedtothistransactionis:

A.Noeffectonliabilities.

B.Adecreaseinassetsof$30,000.

C.Anincreaseinliabilitiesof$30,000.

11.On30April2006,PintoProductsreceivedacashpaymentof$30,000asadepositonproductionofacustommachinetobedeliveredinAugust2006thistransactionwouldmostlikelyresultinwhichofthefollowingon30April2006?

12.Squires&

Johnson,Ltd.,recorded€250,000ofdepreciationexpenseinDecember2005.Themostlikelyeffectonthecompany'

saccountingequationis:

A.noeffectonassets.

B.adecreaseinassetsof€250,000.

C.anincreaseinliabilitiesof€250,000.

13.Ananalystwhoisinterestedinassessingacompany'

sfinancialpositionismostlikelytofocusonwhichfinancialstatement?

A.Balancesheet.

B.Incomestatement.

C.Statementofcashflows.

14.Thestatementofcashflowspresentstheflowsintowhichthreegroupsofbusinessactivities?

A.Operating,Nonoperating,andFinancing.

B.Operating,Investing,andFinancing.

C.Operating.Nonoperating,andInvesting.

A.deferredrevenue,anasset.

B.accruedrevenue,aliability.

C.deferredrevenue,aliability.

15.Whichofthefollowingstatementsaboutcashreceivedpriortotherecognitionofrevenueinthefinancialstatementsismostaccurate?

Thecashisrecordedas;

16.When,attheendofanaccountingperiod,arevenuehasbeenrecognizedinthefinancialstatementsbutnobillinghasoccurredandnocashhasbeenreceived,theaccrualisto:

A.unbilled（accrued）revenue,anasset.

B.deferredrevenue,anasset.

C.unbilled（accrued）revenue,aliability

17.Whenattheendofanaccountingperiod.cashhasbeenpaidwithrespecttoanexpense,thebusinessshouldthenrecord:

A.anaccruedexpense,anasset.

B.aprepaidexpense,anasset.

C.anaccruedexpense,aliability

18.When,attheendofanaccountingperiod,cashhasnotbeenpaidwithrespecttoanexpensethathasbeenincurred,thebusinessshouldthenrecord:

B.aprepaidexpense,anasset.

C.anaccruedexpense.aliabilitv.

A.atrialbalance.

B.ageneralledger.

C.ageneraljournal.

19.Thecollectionofallbusinesstransactionssortedbyaccountinanaccountingsystemisreferredtoas:

A.decreasingassets.

B.increasingliabilities.

C.creatingafictitiousasset.

20.Ifacompanyreportedfictitiousrevenue,itcouldtrytocoverupitsfraudby:

Reading23.FinancialReportingMechanics试题答案整理

1.Ciscorrect.Salesofproducts,aprimarybusinessactivity,areclassifiedasanoperatingactivity.Issuanceofdebtwouldbeafinancingactivity.Acquisitionofacompetitorandthesaleofsurplusequipmentwouldbothbeclassifiedasinvestingactivities.

2.Aiscorrect.Issuanceofdebtwouldbeclassifiedasafinancingactivity.Bisincorrectbecausepaymentofincometaxeswouldbeclassifiedasanoperatingactivity.Cisincorrectbecauseinvestmentsincommonstockwouldbegenerallyclassifiedasinvestingactivities.

3.Aiscorrect.Anassetisaneconomicresourceofanentitythatwilleitherbeconvertedintocashorconsumed.

4.Ciscorrect.Owners'

equityisaresidualclaimontheresourcesofabusiness.

5.Aiscorrect.Assetsmustequalliabilitiesplusowners'

equityand,therefore,€2,000=€1,200+Owners'

equity.Owners'

equitymustbe€800.

6.Biscorrect.

$l，400

+Netincome

200

-Distributionstoowners

（100）

=Endingretainedearnings $l,500

7.Ciscorrect.

Assets=Liabilities+Contributedcapital+Beginningretainedearnings-Distributionstoowners+

Revenues-Expenses

Liabilities $l,000

+Contributedcapital 500

+Beginningretainedearnings 600

-Distributionstoowners （0）

+Revenues 5,000

-Expenses （4,300）

=Assets $2,800

8.Ciscorrect.Thisisacontributionofcapitalbytheowners.AssetswouldIincreaseby$500,000and

contributedcapitalwouldincreaseby$500,000,maintainingthebalanceoftheaccountingequation.

9.Ai