Financial Statement Analysis

Financial Statement Analysis Quiz

Financial Statement Analysis Mcqs with answers

Financial Statement Analysis MCQs with Answers

Here you will find important MCQs with Answers

 

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Which of the following is a recurring item?

Correct! Wrong!

Which of the following statements is incorrect?

Correct! Wrong!

Which of the following would be classified as an extraordinary item on the income statement?

Correct! Wrong!

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Management is a user of financial analysis. Which of the following comments does not represent a fair statement as to the management perspective?

Correct! Wrong!

If assets are $40,000 and stockholders’ equity is $10,000, how much are liabilities?

Correct! Wrong!

Which party has the primary responsibility for the financial statements?

Correct! Wrong!

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If a firm has a high current ratio but a low acid-test ratio, one can conclude that:

Correct! Wrong!

Which of the following items would be classified as operating revenue or expense on an income statement of a manufacturing firm?

Correct! Wrong!

A figure from this year’s statement is compared with a base selected from the current year.

Correct! Wrong!

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Which of the following is true when a cash dividend is declared and paid?

Correct! Wrong!

Which of the following is true when a 10% stock dividend is declared and distributed?

Correct! Wrong!

Selected year-end data for Bayer Company are as follows: Current liabilities $600,000 Acid-test ratio 2.5 Current ratio 3.0 Cost of sales $500,000 Bayer Company’s inventory turnover based on these year-end data is:

Correct! Wrong!

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From the point of view of analysis, which classification of an audit opinion indicates that the financial statements carry the highest degree of reliability.

Correct! Wrong!

Which analysis compares each amount with a base amount for a selected base year?

Correct! Wrong!

If the investor company owns 30% of the stock of the investee company and the investee company reports profits of $150,000, then the investor company reports equity income of :

Correct! Wrong!

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A firm requires short-term funds to cover payroll expenses. These funds can come from:

Correct! Wrong!

The primary objective in the management of accounts receivable is

Correct! Wrong!

Investment instruments used to invest temporarily idle cash balances should have which of the following characteristics?

Correct! Wrong!

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