Financial Reporting, Finance And Accounting

Question: When a company files a statement of their financial plans for the next two years with the SEC, it is called a ______.
A
Market plan

B
Shelf registration

C
Stock plan

D
Statement of intent

E
Prospectus

Note: Not available
1. Report
Question: What does Treasury Stock appear on the balance sheet as?
A
As a reduction of opening Retained Earnings

B
As a positive entry in the equity section

C
As Dividends Paid

D
As a negative entry in the equity section

Note: Not available
1. Report
Question: What are the main categories of a balance sheet?
A
Sales, COGS, Operating Expenses, Net Income

B
Assets, Liabilities, Equity

C
Retained Earnings, Current Assets, Current Liabilities

D
Cash, Accounts Receivable, Fixed Assets, Long Term Assets

Note: Not available
1. Report
Question: What way is government accounting different from public company accounting?
A
Government accounting has far more rules than public company accounting

B
Government accounting occurs only once per decade

C
The chart of accounts and financial statements are classified and organized differently

D
Governments trade their shares in a different market than Public companies and thus report differently

Note: Not available
1. Report
Question: What is the one problem while comparing financial statements with companies based in different countries?
A
Countries use different accounting standards, comparisons can only be made directly with countries using GAAP

B
The exchange rate needs to be applied

C
Other countries do not audit their financial statements as thoroughly

D
Product lines are completely different making a comparison unusable

Note: Not available
1. Report
Question: Which is the primary financial statement used to measure profitability?
A
Balance Sheet

B
Income Statement

C
Cash Flow Statement

D
None of these

Note: Not available
1. Report
Question: How are the income statement and balance sheet linked?
A
Cash from the balance sheet transfers to the income statement

B
They are not linked directly

C
All debt payments show on both the income statement and balance sheet

D
Net income from the income statement transfers to the balance sheet equity section

Note: Not available
1. Report
Question: Which method of preparing the statement of cash flows begins with Net Income?
A
Direct

B
Indirect

C
Current Period

D
Accrual

Note: Not available
1. Report
Question: By doing/issuing which of the following could a company raise short-term funds by selling receivables and inventory?
A
By factoring

B
By pledging inventory

C
By line of credit

D
By Notes

E
By term loan

Note: Not available
1. Report
Question: How would the financial statements be useful for a Company Manager?
A
To decide whether to buy more stock or sell off the stock they own before financial reports become public

B
To compete against other departments for best sales

C
To make operational decisions based on comparing past and current results

D
To decide whether to double fixed assets in the next period

Note: Not available
1. Report

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Question: When a company files a statement of their financial plans for the next two years with the SEC, it is called a ______.

Question: What does Treasury Stock appear on the balance sheet as?

Question: What are the main categories of a balance sheet?

Question: What way is government accounting different from public company accounting?

Question: What is the one problem while comparing financial statements with companies based in different countries?

Question: Which is the primary financial statement used to measure profitability?

Question: How are the income statement and balance sheet linked?

Question: Which method of preparing the statement of cash flows begins with Net Income?

Question: By doing/issuing which of the following could a company raise short-term funds by selling receivables and inventory?

Question: How would the financial statements be useful for a Company Manager?