Exam 7: Financial Statements Ii: the Balance Sheet and the Statement of Cash Flows

On a balance sheet, what is the preferable presentation of notes or accounts receivable from officers, employees, or affiliated companies?

The calculation net income/sales is the formula for which of the following ratios

A transaction that would appear as an application of funds on a conventional funds statement using the all-financial-resources concept, but not on a statement using the traditional working capital concept would be the

Obtain a company's financial statements and ask the students to compute the following: a. Return on investment b. Adjusted return on investment c. Profit margin ratio d. Asset turnover ratio e. Free cash flow

When preparing a funds statement using the all financial resources concept, the retirement of long-term debt by the issuance of common stock should be presented in a statement of changes in financial position as a Source of Funds $\quad$ Use of Funds

A basic objective of the statement of cash flows is to

The calculation sales/average total assets is the formula for which of the following ratios

After considering the significance and relevance of each of the factors that indicate the volume and level of activity for an asset or liability is not orderly, judgment must be used to determine whether the market is active and if a significant adjustment to the transactions or quoted prices may be necessary to estimate fair value. What are some circumstances identified in FSP FAS 157-4 that might indicate that a transaction is not orderly?

The firm's ability to convert an asset to cash or to pay a current liability change is the definition of

The SFAS No 157 (FASB ASC 820) fair value hierarchy contains

Which of the following is not an important aspect of SFAS No. 157 (FASB ASC 820)?

The financial statement which summarizes operating, investing, and financing activities of an entity for a period of time is the

The firm's ability to use its financial resources to adapt to change is the definition of

The balance sheet can be used to analyze all of the following except

Define and discuss the three major sections of the statement of cash flows.

Which of the following is not a balance sheet element?

Discuss the direct versus indirect methods of preparing the statement of cash flows.

When preparing a statement of changes in financial position using the cash basis for defining funds, an increase in ending inventory over beginning inventory will result in an adjustment to reported net earnings because

Describe the fair value hierarchy as defined in SFAS No.157(FASB ASC 820).

A measure of a company's financial flexibility is