1|Page
FMVA FINAL EXAM NEWEST 2026 ACTUAL VERIFIED
EXAM WITH COMPLETE QUESTIONS AND CORRECT
DETAILED ANSWERS (100% VERIFIED ANSWERS)
|ALREADY GRADED A+| ||NEWEST EXAM!!!||
Where would 'accounts payable' most likely appear on a
set of financial statements? - Answer-On the balance
sheet under 'current liabilities'
Which is not a type of note found in a set of financial
statements? - Answer-Significant internal controls
What is the correct syntax for the =YEARFRAC function? -
Answer-=YEARFRAC(start_date,end_date,[basis])
Which of the following is NOT a form of subordinated
debt? - Answer-Revolver
Which of the following is not a function of public
accounting firms? - Answer-Due dilligence
,2|Page
Which ratio would you use to determine the profitability of
the goods sold by a company? - Answer-Gross Profit
Margin
Horizontal analysis allows us to analyze performance
over: - Answer-Time
If a company wanted to finance the purchase of equipment
without diluting shareholders equity, which of the following
operation could it consider? - Answer-Issuing convertible
bonds
When calculating the quick ratio or "acid test" which
current asset or liability is omitted? - Answer-Inventory
Using the PEST analysis, which of the following should a
company like Apple Inc. worry about the most? - Answer-
Technological forecasting and trends
Identify which of the following is NOT a good way for
managers to use a budget. - Answer-Managers can use
budgets alone to estimate how well they perform over a
period of time
,3|Page
Which of the following components is not necessary to
have in every master budget? - Answer-Direct material
purchase budget
What does variable cost with economies of scale mean? -
Answer-The higher the volume of output, the less it costs
to produce one extra unit
Before protecting a worksheet to avoid people from editing
the formulas, you must - Answer-unlock the input cells
The annual accounts receivable is 3,000; the annual sales
40,000, and the gross profit margin is 40%.
The receivable days estimated from the data above is
_____. - Answer-27.4
The PP&E gross book value at the start of the month is
60,000, and the CAPEX of the month is 12,000. The
accumulated depreciation at the start of the month is
25,000; the depreciation expense of the month is 750. The
net book value of PP&E calculated from the data above is
_____. - Answer-46,250
, 4|Page
Simple interest is important framework to start learning
about Time value of MoneyIf you are going to receive
$2,000 in six years from now, how much is that worth
today, assuming 5% annual simple interest? - Answer-
$1,538.46
The formula contained in the yellow highlighted cell (I39) is
= ( , I9,I24). This formula can be copied over to the entire
live scenario section without any manual modification.
(Hint: do not forget to use absolute references.) - Answer-
You should perform sensitivity analysis when: - Answer-
You need to determine which assumptions matter the most
Which charts would be better choices to visualize a
company's actual performance ratio in comparison to a
target ratio? Select TWO best answers. - Answer-Two-
series line chart, column and marker chart
Building a heat map would be an appropriate way to
visualize data in which of the following? - Answer-
Sensitivity Analysis
FMVA FINAL EXAM NEWEST 2026 ACTUAL VERIFIED
EXAM WITH COMPLETE QUESTIONS AND CORRECT
DETAILED ANSWERS (100% VERIFIED ANSWERS)
|ALREADY GRADED A+| ||NEWEST EXAM!!!||
Where would 'accounts payable' most likely appear on a
set of financial statements? - Answer-On the balance
sheet under 'current liabilities'
Which is not a type of note found in a set of financial
statements? - Answer-Significant internal controls
What is the correct syntax for the =YEARFRAC function? -
Answer-=YEARFRAC(start_date,end_date,[basis])
Which of the following is NOT a form of subordinated
debt? - Answer-Revolver
Which of the following is not a function of public
accounting firms? - Answer-Due dilligence
,2|Page
Which ratio would you use to determine the profitability of
the goods sold by a company? - Answer-Gross Profit
Margin
Horizontal analysis allows us to analyze performance
over: - Answer-Time
If a company wanted to finance the purchase of equipment
without diluting shareholders equity, which of the following
operation could it consider? - Answer-Issuing convertible
bonds
When calculating the quick ratio or "acid test" which
current asset or liability is omitted? - Answer-Inventory
Using the PEST analysis, which of the following should a
company like Apple Inc. worry about the most? - Answer-
Technological forecasting and trends
Identify which of the following is NOT a good way for
managers to use a budget. - Answer-Managers can use
budgets alone to estimate how well they perform over a
period of time
,3|Page
Which of the following components is not necessary to
have in every master budget? - Answer-Direct material
purchase budget
What does variable cost with economies of scale mean? -
Answer-The higher the volume of output, the less it costs
to produce one extra unit
Before protecting a worksheet to avoid people from editing
the formulas, you must - Answer-unlock the input cells
The annual accounts receivable is 3,000; the annual sales
40,000, and the gross profit margin is 40%.
The receivable days estimated from the data above is
_____. - Answer-27.4
The PP&E gross book value at the start of the month is
60,000, and the CAPEX of the month is 12,000. The
accumulated depreciation at the start of the month is
25,000; the depreciation expense of the month is 750. The
net book value of PP&E calculated from the data above is
_____. - Answer-46,250
, 4|Page
Simple interest is important framework to start learning
about Time value of MoneyIf you are going to receive
$2,000 in six years from now, how much is that worth
today, assuming 5% annual simple interest? - Answer-
$1,538.46
The formula contained in the yellow highlighted cell (I39) is
= ( , I9,I24). This formula can be copied over to the entire
live scenario section without any manual modification.
(Hint: do not forget to use absolute references.) - Answer-
You should perform sensitivity analysis when: - Answer-
You need to determine which assumptions matter the most
Which charts would be better choices to visualize a
company's actual performance ratio in comparison to a
target ratio? Select TWO best answers. - Answer-Two-
series line chart, column and marker chart
Building a heat map would be an appropriate way to
visualize data in which of the following? - Answer-
Sensitivity Analysis
