Financial Reporting, Finance And Accounting

Question: What does GAAP stand for?
A
General Accounting Accrual Procedures

B
Generally Accepted Accounting Principles

C
Gap Accounts receivable Accounting Practices

D
General Accounting Accounts Payable

Note: Not available
1. Report
Question: Which financial statement best allows a firm to assess its ability to pay dividends?
A
Statement of Cash Flows

B
Income Statement

C
Balance Sheet

D
Statement of Operations

Note: Not available
1. Report
Question: What is one possible use employees would have of the company financial statements?
A
It helps the unionized workers to determine their collective bargaining agreements

B
It helps the employees to buy shares of the company before a big news release hits

C
It helps the employees to demonstrate their own personal contribution to the company

D
It helps in creating human resource policies

Note: Not available
1. Report
Question: Which of the following are the 3 main sections of Statement of Cash Flows?
A
Current, Long term, Near Term

B
Net Income, Gross Margin, Revenues

C
Assets, Liabilities, Equity

D
Operating, Investing, Financing

Note: Not available
1. Report
Question: Which of the following does the cash flow cycle measure?
A
The time between purchase of raw materials and collection of cash

B
The time it takes to invest liquid funds

C
The time it takes for a check to get cleared in the bank

D
The maturity date of corporate bonds

E
The time between offering a marketable security and receiving funds from sale of one

Note: Not available
1. Report
Question: Which of the following transactions would have no impact on the stockholder's equity?
A
Purchase of land from the proceeds of a bank loan

B
Dividends to stockholders

C
Net loss

D
Investments in cash by stockholders

Note: Not available
1. Report
Question: Which of the following transactions is a non cash event but would be disclosed in the notes of the Statement of Cash Flows?
A
Exchange of shares for cash

B
Investment of cash in exchange for a note receivable

C
Exchange of shares for an asset

D
Payment of accounts payable

Note: Not available
1. Report
Question: What does the Balance Sheet reflect?
A
Net changes over a period of time

B
Only annual balances

C
Net Income over a period of 1 month

D
A specific point in time

Note: Not available
1. Report
Question: How does Gross Income differ from Net Income?
A
Gross Income determines the company's cash flow, Net Income does not

B
Gross Income includes several fixed costs, Net Income does not

C
Gross Income includes all fixed costs, Net Income does not include any

D
Gross Income measures profitability before operating expenses, whereas Net Income is calculated after all operating expenses

Note: Not available
1. Report
Question: What is historical value?
A
Prices adjusted for inflation

B
The current sale value of an asset

C
The original cost or price paid for an asset

D
The average value of an asset

Note: Not available
1. Report

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Question: What does GAAP stand for?

Question: Which financial statement best allows a firm to assess its ability to pay dividends?

Question: What is one possible use employees would have of the company financial statements?

Question: Which of the following are the 3 main sections of Statement of Cash Flows?

Question: Which of the following does the cash flow cycle measure?

Question: Which of the following transactions would have no impact on the stockholder's equity?

Question: Which of the following transactions is a non cash event but would be disclosed in the notes of the Statement of Cash Flows?

Question: What does the Balance Sheet reflect?

Question: How does Gross Income differ from Net Income?

Question: What is historical value?