CFI FMVA FINAL EXAM WITH COMPLETE
QUESTIONS AND ANSWERS
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
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
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
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
QUESTIONS AND ANSWERS
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
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
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
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
