Exam 1: Overview of Financial Reporting, Financial Statement Analysis, and Valuation

The _____________________________________________ defines more clearly the explicit responsibility of managers for financial statements, the relation between the independent auditor and the firm audited and the kinds of services permitted and not permitted.

Which forces typically represent horizontal competition in a value chain?

Which of the following economic characteristics is consistent with a grocery store chain?

___________________________________ equals net income for a period plus or minus the changes in shareholders' equity accounts other than from net income and transactions with owners.

Which of the following would not appear as a liability on the balance sheet?

All of the following are principal provisions of the Sarbanes-Oxley Act of 2002 except :

Which of the following economic characteristics is consistent with a pharmaceutical company?

The prospectus must be filed with the ________ before the company can sell new issues of stocks or bonds.

Labor contracts and purchase order commitments are examples of ____________________ contracts.

The tools for studying industry economics does not include:

An example of an intangible asset is:

Which SEC form may be the best place to start learning about the economics of an industry and the particular strategy a firm has selected for competing in the industry?

The tools of effective financial statement analysis are useful for assessing whether to extend ____________________ to a firm, either for a short-term or for a long-term.

Nonmonetary assets include assets that are ____________________, such as inventories, and assets that are ____________________ such as brand names.

Under the Sarbanes-Oxley Act ____________________ assumes responsibility for establishing and maintaining adequate internal control structure and procedures.

Which of the following is not one of Porter's five forces?

When attempting to identify the economic characteristics of the industry in which a particular firm participates an analyst might ask which of the following questions?

Which form does the balance sheet equation take in the United Kingdom?

How easily can customers switch to substitute products is a question one might ask when assessing the ___________________________________.

Under the ____________________ basis of accounting, a firm recognizes revenue when it performs all or a substantial portion, of the services it expects to perform and receives either cash or a receivable.