Question 1

Which of the following are placed on the right-hand side of the balance sheet?

Accepted Answer

A) Credit card debts. 
B) Taxes outstanding. 
C) Mortgage debt. 
D) All of the above. 
E) None of the above. 
A) Credit card debts. 
B) Taxes outstanding. 
C) Mortgage debt. 
D) All of the above. 
E) None of the above.

Question 2

How is the performance for period recorded according to GAAP business?

Accepted Answer

A) As a "fair" presentation of results for the period. 
B) As a capitalized as asset on balance sheet,not as an expense on income statement. 
C) As a proper matching of revenues and costs for the period in an income statement. 
D) All of the above. 
E) None of the above. 
A) As a "fair" presentation of results for the period. 
B) As a capitalized as asset on balance sheet,not as an expense on income statement. 
C) As a proper matching of revenues and costs for the period in an income statement. 
D) All of the above. 
E) None of the above.

Question 3

What is a traditional cash flow statement?

Accepted Answer

A) A cash flow statement that groups all inflows and outflows together. 
B) A cash flow statement that distinguishes between flows based on operating,capital expenditures,and debt repayment. 
C) A cash flow statement that lumps together paydown of debt and interest payments. 
D) All of the above. 
E) Both a and c above. 
A) A cash flow statement that groups all inflows and outflows together. 
B) A cash flow statement that distinguishes between flows based on operating,capital expenditures,and debt repayment. 
C) A cash flow statement that lumps together paydown of debt and interest payments. 
D) All of the above. 
E) Both a and c above.

Question 4

Which of the following is not applicable to a functional household statement of cash flows?

Accepted Answer

A) Resembles business cash flow statement. 
B) Calculates net cash flows properly. 
C) Handles revenues properly. 
D) It is simpler than a traditional household statement of cash flows. 
E) All of the above are applicable to a traditional household statement of cash flows. 
A) Resembles business cash flow statement. 
B) Calculates net cash flows properly. 
C) Handles revenues properly. 
D) It is simpler than a traditional household statement of cash flows. 
E) All of the above are applicable to a traditional household statement of cash flows.

Question 5

How is depreciation recorded according to GAAP business?

Accepted Answer

A) As a "fair" presentation of results for the period. 
B) As a capitalized as asset on balance sheet,not as an expense on income statement. 
C) As an expense on income statement based on original cost,and deducted from asset on balance sheet. 
D) All of the above. 
E) None of the above. 
A) As a "fair" presentation of results for the period. 
B) As a capitalized as asset on balance sheet,not as an expense on income statement. 
C) As an expense on income statement based on original cost,and deducted from asset on balance sheet. 
D) All of the above. 
E) None of the above.

Question 6

Which of the following best defines a functional cash flow statement?

Accepted Answer

A) A detailed cash flow statement that separates cash flows by type of household activity. 
B) A detailed cash flow statement that separates cash flows by household member. 
C) A detailed cash flow statement that separates cash flows by discretionary and nondiscretionary expenses. 
D) A summary of the household's actual cash flow statement,used to simplify analysis. 
E) None of the above. 
A) A detailed cash flow statement that separates cash flows by type of household activity. 
B) A detailed cash flow statement that separates cash flows by household member. 
C) A detailed cash flow statement that separates cash flows by discretionary and nondiscretionary expenses. 
D) A summary of the household's actual cash flow statement,used to simplify analysis. 
E) None of the above.

Question 7

Which of the following are not placed on the left-hand side of the balance sheet?

Accepted Answer

A) Bonds and bond funds. 
B) IRAs. 
C) Furniture and fixtures. 
D) Household equity. 
E) All of the above are placed on the left-had side of the balance sheet. 
A) Bonds and bond funds. 
B) IRAs. 
C) Furniture and fixtures. 
D) Household equity. 
E) All of the above are placed on the left-had side of the balance sheet.

Question 8

The treating of repayment of debt as an expense in the cash flow statement is an example of:

Accepted Answer

A) The blurring or elimination of the distinctions between assets and liabilities,income and expenses,and cash inflows and outflows. 
B) The underestimation of expenses. 
C) The overestimation of expenses. 
D) None of the above. 
E) Both a and b above. 
A) The blurring or elimination of the distinctions between assets and liabilities,income and expenses,and cash inflows and outflows. 
B) The underestimation of expenses. 
C) The overestimation of expenses. 
D) None of the above. 
E) Both a and b above.

Question 9

What is the common rate?

Accepted Answer

A) The rate of annual increase that many household expenses share. 
B) The inverse of the assumed future inflation rate. 
C) Investment projections based on an assumed return. 
D) All of the above. 
E) None of the above. 
A) The rate of annual increase that many household expenses share. 
B) The inverse of the assumed future inflation rate. 
C) Investment projections based on an assumed return. 
D) All of the above. 
E) None of the above.

Question 10

Which of the following tells you how you are doing today and sets the stage for any steps that need be taken to alter future activities?

Accepted Answer

A) Balance sheet. 
B) Cash flow statement. 
C) Projected cash flow statement. 
D) Income statement. 
E) None of the above. 
A) Balance sheet. 
B) Cash flow statement. 
C) Projected cash flow statement. 
D) Income statement. 
E) None of the above.

Which of the following are placed on the right-hand side of the balance sheet?

How is the performance for period recorded according to GAAP business?

What is a traditional cash flow statement?

Which of the following is not applicable to a functional household statement of cash flows?

How is depreciation recorded according to GAAP business?

Which of the following best defines a functional cash flow statement?

Which of the following are not placed on the left-hand side of the balance sheet?

The treating of repayment of debt as an expense in the cash flow statement is an example of:

What is the common rate?

Which of the following tells you how you are doing today and sets the stage for any steps that need be taken to alter future activities?

Introduction to PFP

Time Value of Money

Beginning the Planning Process

Household Finance

Cash Flow Planning

Debt

Non Financial Investments

Financial Investments

Risk Management

Other Insurance

Retirement Planning

Educational Planning

Tax Planning

Estate Planning

Stocks, Bonds and Mutual Funds

Background Topics

Capital Needs Analysis

Behavioral Financial Planning

Modern Investment Theory

Employee Benefits

Behavioral Finance-Applications

Comprehensive Financial Plan-Dan and Laura

Examining Financial Regulation and Ethics

Filters

Exam 5: Financial Statements Analysis

Which of the following are placed on the right-hand side of the balance sheet?

How is the performance for period recorded according to GAAP business?

What is a traditional cash flow statement?

Which of the following is not applicable to a functional household statement of cash flows?

How is depreciation recorded according to GAAP business?

Which of the following best defines a functional cash flow statement?

Which of the following are not placed on the left-hand side of the balance sheet?

The treating of repayment of debt as an expense in the cash flow statement is an example of:

What is the common rate?

Which of the following tells you how you are doing today and sets the stage for any steps that need be taken to alter future activities?

Introduction to PFP

Time Value of Money

Beginning the Planning Process

Household Finance

Cash Flow Planning

Debt

Non Financial Investments

Financial Investments

Risk Management

Other Insurance

Retirement Planning

Educational Planning

Tax Planning

Estate Planning

Stocks, Bonds and Mutual Funds

Background Topics

Capital Needs Analysis

Behavioral Financial Planning

Modern Investment Theory

Employee Benefits

Behavioral Finance-Applications

Comprehensive Financial Plan-Dan and Laura

Examining Financial Regulation and Ethics

Filters