ACC 573 Financial Reporting & Analysis Midterm Exam (Summer 2017) Strayer
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<strong>ACC</strong> <strong>573</strong> <strong>Financial</strong> <strong>Reporting</strong> &<br />
<strong>Analysis</strong> <strong>Midterm</strong> <strong>Exam</strong> (<strong>Summer</strong><br />
<strong>2017</strong>) <strong>Strayer</strong><br />
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<strong>573</strong>-financial-reporting-analysismidterm-exam-summer-<strong>2017</strong>-strayer/<br />
<strong>ACC</strong> <strong>573</strong> <strong>Midterm</strong> <strong>Exam</strong> (<strong>Summer</strong> <strong>2017</strong>) <strong>Strayer</strong><br />
1. Which of the following economic characteristics is consistent with a pharmaceutical company?<br />
2. Which SEC form may be the best place to start learning about the economics of an industry and the<br />
particular strategy a firm has selected for competing in the industry/<br />
The primary purpose of the balance sheet is to:<br />
Which financial statement would you look at to determine whether a company will be able to pay for the<br />
goods when payment is due in 30 d ays?<br />
Why might income tax expense on the income statement differ from actual income taxes paid to the<br />
government?<br />
The traditional accounting model delays the recognition of value changes of assets and liabilities until<br />
what event occurs?<br />
What level are inputs for estimating fair values are those inputs include quoted prices for similar assets or<br />
liabilities in active or inactive markets, other observable information such as yield curves and price<br />
indexes, and other observable data such as market-based correlation estimates?<br />
If a firm is growing and expanding its accounts receivable and inventories faster than its current operating<br />
liabilities its cash flow from operation will normally be<br />
Which of the following is the correct formula for calculating cash collections from customers ?<br />
Which of the following is an adjustment that would need to be made to net income when calculating cash<br />
flows from operations under the indirect method?<br />
When preparing the statement of cash flows using the indirect method, the purchase of equipment would<br />
appear as<br />
One important difference between return on assets (ROA) and return on common shareholder’s equity<br />
(ROCE) is<br />
Multiples of EPS to value firms are referred to as.<br />
Hall and Porter argue that firms have two generic alternative strategies for any particular product. These<br />
strategies are<br />
Which of the following is the primary objective in most financial statement analysis?<br />
Which of the following states of financial distress would be considered the most troubling for an investor<br />
or creditor?<br />
All of the following are common industry risks faced by companies except:<br />
Which of the following is a measure of market equity risk?<br />
Which is the date when employees elect to exchange the option and cash for shares of common stock?<br />
Under U.S. GAAP, which of the following items would require a lessee to classify a lease of equipment as<br />
a capital lease?<br />
Which kind of dividends typically pay dividends with additional shares of the corporation’s stock?<br />
Focus Company’s accounting manager decided to start capitalizing the company’s routine repairs and<br />
maintenance expense, starting in 2011. What effect will this change have on the company’s 2012 income<br />
and assets respectively?
An analyst can estimate the average total life of depreciable assets by<br />
Under IFRS, when an asset is revalued upwards, subsequent depreciation is based on<br />
The term used to describe the amount of a company’s annual interest cost that should be capitalized is<br />
known as:
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