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

Resources that have the potential for providing a firm with future economic benefits are called ____________________.

Which forces typically represent vertical competition in a value chain?

Accounts payable represent: 

Prepare an analysis of the automobile manufacturing industry using Porter's five forces framework.For each component force provide support for your conclusion.In addition,at the completion of your analysis provide a conclusion,along with support,of whether you expect the automobile industry to report high or low profitability in the near future.

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

Identify Porters' Five Forces?

Statements that express all items in a particular financial statement as a percentage of some common base are called _________________________ statements.

____________________ assets include the rights established by law or contract to the future use of property.

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

Prepare an analysis of the grocery industry using Porter's Five Forces framework.For each component force provide support for your conclusion.In addition,at the completion of your analysis provide a conclusion,along with support,of whether you expect the grocery industry to report high or low profitability in the near future.

The primary purpose of the balance sheet is to: 

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

Which of the following is not considered to be a liability? 

The tools for studying industry economics does not include:

The five economic attributes that are normally studied are demand,supply,manufacturing,____________________,and investing and financing.

Under the Sarbanes-Oxley Act of 2002,financial statements must include both a Management Assessment and an Assurance Opinion.What information do the Management Assessment and an Assurance Opinion provide to financial statement users?

Tremble Company manufactures outdoors wear for women.During 2014,the company reported the following items that affected cash. Required: Indicate whether each of these items is a cash flow from operating activities (O),investing activities (I),or financing activities (F). _____A.Paid cash for supplies _____B.Purchased equipment by paying cash _____C.Collected cash on account from customers _____D.Paid dividends to stockholders _____E.Paid suppliers for fabric _____F.Borrowed money from a bank on a long-term note _____G.Paid interest to bank on the note _____H.Paid wages to employees _____I.Sold shares of common stock to new stockholders

Many people view the balance sheet as being a representation of a firm's economic position.What are some issues that reduce the quality of this representation?

What are three activities reported in the statement of cash flows and what information does each activity provide?

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