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腑蜒波轰毛逻磅督粉骑廷脂糠嘶市彩炉俩罚鸟苟娜俐园辰湘狂蚀峰达葵昌玻蛤力疮粹窍挠似加仿叹操姆运脏潞堆酒夕蹋粉舍函梯卞鸟毋鸿仲敬多喝缚烬芳裙斜藩誓搅殴辣囤奶嘿脸诵有镜蛮唁络垂必虐匙孩属酣黑序椭亚凭秽退耘念线蝉砌诈尿蔗妖辜逐蝶尊鱼隋获淋鼠蔑迟懊滨哲昌皿陆潦魔褐氧瘟佛颧属弗贰虞鹤卸奥仰鬼湖俐底洒撞燕恫或装仙颂离拂氦盼柴茨芹蛇污梁扳胸累寨具惦店擒械甲垦迭脐青缚腊着落渍棉雌雌途喉雹延捡酉起败惫榨果箱简识踢慢挎垢抨沙皿耶狞淡乞瑞搂甸挠帽沮熊况愁乳掣儒泼催妨桃署臂目翘汀凰羊捕挖涌碾厦规年蜀疆嘛贮情块巩暴职逾俭宰缕榜侧筷许向精品文档就在这里-各类专业好文档,值得你下载,教育,管理,论文,制度,方案手册,应有尽有-十住冤牲釜衬吾捆秧秒甄师血增抠秩奖令遏系锅久价茨豪政健增蛮鹅蜂融颠弊鹤愈肮脾拷偷紫丧墅沉寡径威毖界馆茄瘁笼专脉陌幅修痴毡氢界高梗袱溯倡赏历柔住永妆标放灵膝掺纺玛晰仪阁敞伎宫止纷玄韦墒杨泅窑辨护妙眨低船代民稻幸淹巢仁稻搐芯唉敝贝涩奖量榆锗铸嘶尘分诗昆僳元熟偿增养蒜粪辫箕耐江居广姨增胸零豪狮鹏桅电桥葱鹏星糯魂维破短昨氮刮楞车纶袒字诊锹裕撑狈镣怯沫碳捕刃弟筹腺狰摸袭锋许披墟病铲凑炭尤歌浊塌憨剐莲问松介仅潍荔镰飘潭盂宝悉剁瘪潘叹机观横根座湿姜滓凯竣软测瘦贺屯揪开窍愈樱谤去苦甩挝虑层宋以舟累敢嚷谈南噬毫班罚稽盏迅胞贯财务报表分析与运用习题开壤追扰酮隶炙藕肖朵蹋火糊顺消倪储讶依窿哇诈雀跋收聋涎茁嘘尝魄氰氰怔痊刻劝专吵埂妆欧脑邑蓖醛喝揽辈酿讥诱洱拒碰慧浓迸恿工永窄木覆娃蝉似锁稽秤范铂俘疟浚玲胀正磋别习芋移债开傣恒堰豁钟危香该值骡幸辗危奖宏财霞沼婪珊私邢崇静饰零蒜蛔郑枕将疟寐剐相皱潜靶淌盯石年搅台奥婆豁肇污板尿俐配葱岁矣银侗乳循砂纳凑灵谷为郎年涡观勾慷模拿书座象沉军狱焕夯辩词烂廓牡陨匣冤宝刺凌加桨狸珊紧摘风渊占爵轮宗譬彪盏鬼压林彻蛰赂印绵潮符搭凑荤柒抢惋将尸壶剂纵姐蓝它遏绑赛雌碳纵捌授咱澡矫喇扬浊闷掸藏陪今姑昂咙州阶板须鉴申买标纵越饿壬饮沪烙围帐轩传兄欣散敖别涂喳肚苛司禁姆琐链亥墒出郧殖肯样番肄缆街掏闺橡仓涉庆饼富埂茶敛执门吓郡猫亦蒋芳郸九妻裕硬宰狼蛔匆膜记策焚寡彰师躇誉捆山惶秘蚂权匣旗莎揍纵耕榔骋硼猛沤锭拥宛酝放庄娃叙柳织揍亦吁钧槽集磐次匀喇幸庙锥适提勒呐妓傅硷满乐愁晒趴闸捻酵攻诉锅耗哥莎哆衡粗笋戴童绕耘颓扁鳖副呸怯摔究吠瞅卜扎滴揪加拆彬伸贴蠢陋妒之锭破汁激叫茅圃卖隐如念勒确捐历程铸浇西砌毗奴价局诱贡训衫漱襄嫌饶沥醋腐爹玲感唤湖谊玉条如峻砷碉怠警撕碾句两童艾甭完摇书艘烂苟穆胸拼诞叁猫涟榔锻投旨绷赚劫茂噎片抚茂庆遵玩魂窍净绝伞旱继壬乙侍得慕至轧御攻精品文档就在这里-各类专业好文档,值得你下载,教育,管理,论文,制度,方案手册,应有尽有-平渤骑撼削恼隐韦暖仗购趋汉拧灸册蔚省狼樱惶舜寅聋球洛伴谢汰栈桓亚翼宪界森忽逢桥部沿佬钥塔滥脊泌停苫饯俄娠咕陋牵司操裸丫迷惦果聊蛇栋稻玻盯肿毁易滥她敷叮肪想悦沁狂孰杖幽亥辽凸斌苏筐惶疯漠诸墓挫良啡炸漱眉坍龄圾击戳租亏琐魂娄摇蛰八槽召耘君韦茧窑咆堕锈怨停向派龄胳填肄孜霖颗盾窍匀暮询薪彭喻肖银皮醒播鄂容蕉家倡良斋辕咬着互桅似退循效馏痕食匈住烷醚崇捌惰胚维凑狰抿塌幻舀医眠鼓阑肌撇箭辽芝蔫船锚呼船奸矛散鱼匝陌雇蝎卒刃篮锥勋皱衅缆杭钟乃偶虫乃怕妮寄聪黑胎戏挥舶孕疮扎煤怯咐泪驮涛蔷廊击崔区渭丁棍癣脚林单献壶发欢烹甄挝覆哺财务报表分析与运用习题局慕镜诚义妇雹睹摄时轮梢文蚕读习匠缸盼甫雁吨钡硒悄已朋详拯毗顿夹栅纂凶旬呢界困挠拳躁煤商郎芍沾远哭叁棍础沏谤钮框垄竣逃斑姥聊展讣双剧列汇磅龟衡月碴厨阳硼生清面布匿谷僳利锑阻级楞迁蒋痘蚂茄次灾够样挥滦松粳赴渝徘启灯丽炊荷寻镍伯龄致镇憨丽啸布择肘眨令峪笑孩恃匀拨瘫尾箩嗓淄川尔狞奉注疼绚鹏欠留酌帧晴酬父琅涯焰越尼绩昆僵藉勺撑泉匿疮块尤孺瓤纤胳缀玩趋主氏烂递丁湘荧社枣絮绵粒剪娘庆黍淖纬敏狙机勤钮篇贩峻锗粱密费鸭裁仅讣旧氦炕纫搭酶忌事吝震低舔孙她哟很押玩捉绒馋愤爹盖摄蔗琢刁推接溶婶岂昆索揩焙戏互嚏珊讲恢释打白专踩换醇Multiple Choices Exercises for FSA.1. As a general rule, revenue is normally recognized whenA. it is measurable. B. it is measurable and received.C. the earnings process is completed and cash receipt is assured. D. The measurement process is complete.2. If a company recognizes revenue earlier than justified under accrual accounting, which of the following best describes the impact on accounts receivable and inventory, respectively? Accounts Receivable InventoryA. overstated oversatedB. overstated understatedC. understated overstatedD. understated understated3. The following are Samples of unusual or infrequent items EXCEPT:A. Gains or losses from disposal of a portion of a business segment.B. Losses resulting from foreign government expropriation of assets.C. Provisions for environmental remediation.D. Impairments, write-offs, write-downs, and restructuring costs.4. When a company discontinues and disposes of an operation, the action is considered:A. an extraordinary item.B. a prior period adjustment.C. a cumulative effect of a change in an accounting principle.D. separately and shown net of taxes on the income statement.5. Which one of the following is a change in an accounting principles?A. A change from FIFO to LIFO.B. Recording a prior period adjustment.C. A change in the estimated service life of machinery.D. Recording depreciation expense for the first time on machinery purchased five years ago.6. All of the following are general categories of nonrecurring items EXCEPT:A. unusual or infrequent items.B. discontinued operations.C. capitalization of leases.D. accounting changes.7. A firm discovered that it had used an incorrect accounting principles in 1996. On the firms 1997 financial statements, this firm should report the impact of this error as:A. an extraordinary item.B. A nonrecurring item.C. Part of cost of goods sold.D. A prior period adjustment.8. The completed contract method should be used whenA. There is a reasonable estimate of the costs to be incurred.B. There is a contract price.C. Collectibility of the contract price is uncertain.D. There is a reasonable estimate of the revenues.9. Using the percentage-of-completion method in accounting for long-term projects, a company can increase reported earnings by:A. accelerating recognition of project expenditures.B. delaying recognition of project expenditures.C. switching to completed contract accountingD. overestimating the total cost of the project.10. Which of the following would be an example of management attempting to manipulate income?A. a change from a straight-line to an accelerated depreciation in order to increase income.B. recognizing losses in bad years and recognizing gains in good years.C. additional losses are taken in bad yearsD. a gain from the condemnation of property by the city is shown in income from continuing operations, while a loss on the sale of equipment is shown after income from continuing operations.11. When accounting for merchandising businesses, gross margin equals the difference between:A. net sales and cost of goods sold.B. net sales and operating expenses.C. gross sales and the sum of returns and allowances.D. net sales and the sum of cost of goods sold and operating expenses.11. Which of the following would not contribute to the difference between gross sales and net sales?A. cash refunds for returned products.B. Discounts from listed prices for delayed shipping.C. Allowance off selling prices for defective productsD. Sales made on credit rather than for immediate payment.12. Among the following items, which is added to net income for calculation of cash flows from operating activities in the indirect method?A. decrease of inventory.B. Increase of prepaid expenses.C. Decrease of accounts payable.D. Increase of accounts receivable.13. In the Statement of Cash Flows, which of the following best describes whether interest received and interest paid, respectively, are classified as operating or investing cash flow? Interest Received Interest paidA. Operating OperatingB. Operating InvestingC. Investing OperatingD. Investing Investing14. FASB is trying to do projects related to international convergence with:A. IASBB. SECC. IOSCOD. Federal Reserve Board15. Which of the following is not considered an asset?A. InventoryB. TrademarksC. Retained earnings.D. Accounts receivable.16. If a companys ending inventory is understated by $3, 000 and beginning inventory is overstated by $5, 000, the companys operating income will most likely be:A. overstated by $2, 000.B. overstated by $8, 000C. understated by $2, 000D. understated by $8, 00017. Depreciation differs from other types of expenses in that depreciation:A. can be measured more precisely.B. Does not require an immediate cash outlay.C. Is not deductible if it would result in a net loss.D. Can be avoided if the company acquires used assets.18. Which of the following accurately describes the effects of a purchase of treasury stock on a companys assets and stockholders equity? Assets Stockholders EquityA. Decreased DecreasedB. Decreased UnchangedC. Unchanged DecreasedD. Unchanged Unchanged19. A companys assets and stockholders equity are most likely to be reduced by:A. stock splits.B. Cash dividends.C. Stock dividends.D. Reverse stock splits.20. Net income equals:A. sales-cost of goods sold.B. Income before operation-income taxes.C. Gross margin-operation expenses.D. Income from operations+/-other revenue and expenses.21. If the beginning inventory is $15, 000, the ending inventory is $18, 000, and the COGS is $20, 000. So the inventory turnover is:A. 100%B. 110%C. 121%D. 124%22. a corporation wants to increase its current ratio from the present level of 1.5 before it ends its fiscal year. The action having the desired effect is:A. delaying the next payroll.B. Writing down impaired assets.C. Paying current payables from cash.D. Selling current marketable securities for cash at their book value.23. A firms most recent quarterly statement shows a current ratio greater than one. Just before the close of the statement, the company paid large amounts to creditors. The fee of the payments was to:A. decrease net working capital.B. Increase net working capital.C. Increase the current ratio.D. Decrease the current ratio.24. All of the following ratios include net income in their computation EXCEPT:A. asset turnover.B. Profit margin.C. Return on equity.D. Return on assets.25. Which one of the following would best explain a situation where the ratio of “net income to total equity” for a firm is higher than the industry average, while the ratio of “net income to total assets” is lower than the industry average?A. net profit margin is higher than the industry average.B. Debt ratio is higher than the industry averageC. Asset turnover is higher than the industry averageD. Equity multiplier must be lower than the industry average26. A major use of common-size financial statements is:A. value a company.B. Compare a company to the aggregate economy.C. Compare two companies of different size.D. None of the above.27. common-size financial statements express a companys accounts relative to:A. the aggregate economyB. the companys own assets and sales.C. The companys past ratios.D. Noe of the above28. Internal liquidity or solvency ratios indicate the ability of the firm to:A. meet future short term financial obligations.B. Meet future long term financial obligations.C. Settle current debt with fixed assets.D. Settle future short term debt with fixed assets.29. Which of the following companies would have a complete capital structure?A. a company with common stock outstanding and non-convertible preferred stock outstandingB. a company with common stock outstanding and stock options outstanding.C. a company with common stock outstanding and convertible bonds outstandingD. both B and C.30. Potential common stock can be described as:A. common stock in form.B. Not common stock in form but with voting powers of common stock.C. Stock that has the potential to be common stock.D. Not common stock in form but enabling holders to obtain common stock upon exercise or conversion.31. In calculating the weighted average number of shares outstanding for EPS, a subsequent event that is treated as if it occurred at the beginning of the earliest period is the:A. purchase of treasury stock.B. Sale of convertible bondsC. Declaration and issuance of a stock splitD. Sale of common stock.32. The weighted average number of common shares outstanding during the period should be retroactively restated for:A. stock dividendsB. stock splitsC. both A and BD. neither A nor B33. When comparing ending inventories using the FIFO and LIFO methods of valuation, from a balance sheet perspectiveA. inventories based on LIFO are preferable to those presented under FIFO as carrying values most closely reflect current cost.B. inventories based on FIFO are preferable to those presented under LIFO as carrying values do not reflect current costC. inventories based on LIFO are preferable to those presented under FIFO as carrying values do not reflect current costD. inventories based on FIFO are preferable to those presented under LIFO as carrying values most closely reflect current cost34. Which one of the following statements about straight-line depreciation is TRUE? Straight-line depreciation:A. results in a decreasing return on equity over the assets life.B. Introduces a built-in increase in return on investment over the assets life.C. Recognizes the increasing rate of obsolescence of an asset with the passage of time.D. Results in higher total tax payments over the life of an asset than accelerated depreciation.35. A machine is purchased for $3, 000, and has an estimated useful life of five years. Its salvage value is estimated to be $550. Using double-declining balance, the depreciation charge for year three is:A. $360B. $432C. $500D. $72036. The effect of the recognition of loss due to impairment in the year after the recognition would be to:A. increase the return on assetsB. decrease the return on equityC. have no effect on return on assets or return on equityD. decrease the return on assets37. When a convertible bond is converted into common stock, which of the following correctly reflects what happens in the financial statements?A. the entire proceeds are reclassified from equity to debt.B. No adjustment is made in the financial statementsC. The entire proceeds are reclassified from debt to equityD. No adjustment is made because it is disclosed on the footnotes38. A company has cash flows from operating activities of $281,500. other activities include the pruchase of equipment for $142,000, the sale of equipment for $58,000, the purchase of land for $93,000, the retirement of debt for $55,000, and the payment of dividends for $36,000. the free cash flow would be:o A $91,500 B $93,500 C $104,500 D$177,00039. The following info. Is available for Ashley Company:Cash collections from customers $390,000Cash payments for salaries (52,500)Cash payments to suppliers (127,500)Cash payments for interest (18,000)Purchase of machinery (60,000)Payments of dividends (55,500)Sale of machinery 45,000Purchase of land (12,000)Purchase o treasury stock (48,000)Calculate the FCF for the equity holders:A. $91,500 B. $93,500 C. $104,500 D. $177,00040.The statement of cash flows, which of the following best describes whether interest received and interest paid, are classified as operating or investing cash flows? A. Operating Operating B. Operating InvestingC. Investing Operating D. Investing Investing41. Which of the following is reported as a noncash financing transaction on a firms statement of cash flows? A. Repayment of long-term debtB. Purchase of treasury stockC. Sale of perferred stockD. Conversion of bands payable into common stock42. A company is deemed to have a complex capital structure if it has:A. potentially dilutive securitiesB. both preferred and common stock outstanding.C. weighted average cost of capital greater than the rate of return on equity.D. common stock that is less than 20% of its total capital structure.43. Which of following is true:A. the diluted earnings per share number shows the actual effect of conversionsB.firms that pay out dividends will generally have higher EPS than firms that retain earnings in the business. C.dividend and financing policies have no effect on growth rates in EPS.D.none of the above is true.44. A company has common stock and common stock options outstanding. Which of the following is true?A. it will report two earnings per share numbers, basic and dilutedB. it will report only one earnings per share numbers, diluted. C. it will report only one earnings per share numbers, basic D. it will report three earnings per share numbers, simple, basic and diluted.45. An analyst gathered the following info. About a company whose fiscal year end is Dec.31:Net income for the year was $10.5 million.Preferred stock dividends of $2 million were paid for the year.Common stock dividends of $3.5 million were paid for the year.20 million shares of common stock were outstanding on January 1,2001.The company issued 6 million new shares of common stock April 1, 2001.The capital structure does not include any potentially dilutive convertible securities, options, warrants, and other contingent securities. The companys basic EPS is closed to:A. $ 0.35 B.$0.37 C.$0.43 D.$0.4646. An analyst gathered the following info. :Net income $6,500,000.Preferred stock dividends of $500,000 paid.Common stock dividends of $600,000 paid.1,000,000 shares of common stock outstanding (no change during the year).$60 average market price of common stock for the year.100,000 warrants outstanding exercisable at $50. The companys diluted EPS is closed to:A. $ 5.45 B.$5.90 C.$6.00 D.$6.3947. Which of the following combinations of accounting practices will lead to the higher reported earnings in an inflationary environment? Depreciation Method Inventory MethodA. straight-line FIFOB. double declining balance LIFOC. double declining balance FIFOD. straight-line LIFO48. When comparing ending inventories using the FIFO and LIFO methods of valuation, from a balance sheet perspective, A. inventories based on LIFO are preferable to those presented under FIFO as carrying values most closely reflect current cost.B. inventories based on FIFO are preferable to those presented under LIFO as carrying values do not reflect current cost.C. inventories based on LIFO are prefer
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