CMA EXAM PART 1: SECTION A 2026
STUDY GUIDE | CERTIFIED MEDICAL
ASSISTANT PRACTICE QUESTIONS &
RATIONALES
| GRADED A+ | GUARANTEED SUCCESS
Updated 2026 Questions and Answers
100% Verified Exam Prep and Comprehensive
Rationales Included
, Secondary users of financial statements - Customers
- Employees
- Gov. and Regulatory Agencies
- the general public
Statement of financial position (balance sheet) An accounting statement that records the values of a business's assets, liabilities
and shareholders' equity at one point in time
Income Statement A financial statement that reports a company's revenues and expenses and
resulting net income or net loss for a specific period of time.
Statement of Cash Flows Financial statement that reports cash receipts and disbursements related to a
firm's three major activities: operations, investments, and financing.
Operating Cash Flow (OCF) the cash flow a firm generates from normal operations—from the production and
sale of its goods and services.
investing cash flows cash transactions involving purchase and sale of long-term assets
financing cash flows include cash transactions with lenders, such as borrowing money and repaying
debt, and with stockholders, such as issuing stock and paying dividends
Statement of Comprehensive Income An income statement in which a company also reports other comprehensive
income.
Including:
- foreign currency translation
- gains or losses prior service costs or credits related to a defined pension plan
- unrealized holding gains or losses on available for sale securities
- the effective portion of the gain or loss on a derivative
statement of stockholders' equity Summarizes the changes in the balance in each stockholders' equity account over
a period of time.
Including:
- capital stock
- APIC
- retained earnings
Assets Economic resources (things of value) owned by a firm for future economic
benefits.
Liabilities what a company owes
STUDY GUIDE | CERTIFIED MEDICAL
ASSISTANT PRACTICE QUESTIONS &
RATIONALES
| GRADED A+ | GUARANTEED SUCCESS
Updated 2026 Questions and Answers
100% Verified Exam Prep and Comprehensive
Rationales Included
, Secondary users of financial statements - Customers
- Employees
- Gov. and Regulatory Agencies
- the general public
Statement of financial position (balance sheet) An accounting statement that records the values of a business's assets, liabilities
and shareholders' equity at one point in time
Income Statement A financial statement that reports a company's revenues and expenses and
resulting net income or net loss for a specific period of time.
Statement of Cash Flows Financial statement that reports cash receipts and disbursements related to a
firm's three major activities: operations, investments, and financing.
Operating Cash Flow (OCF) the cash flow a firm generates from normal operations—from the production and
sale of its goods and services.
investing cash flows cash transactions involving purchase and sale of long-term assets
financing cash flows include cash transactions with lenders, such as borrowing money and repaying
debt, and with stockholders, such as issuing stock and paying dividends
Statement of Comprehensive Income An income statement in which a company also reports other comprehensive
income.
Including:
- foreign currency translation
- gains or losses prior service costs or credits related to a defined pension plan
- unrealized holding gains or losses on available for sale securities
- the effective portion of the gain or loss on a derivative
statement of stockholders' equity Summarizes the changes in the balance in each stockholders' equity account over
a period of time.
Including:
- capital stock
- APIC
- retained earnings
Assets Economic resources (things of value) owned by a firm for future economic
benefits.
Liabilities what a company owes
