Selected comparative income statement amounts for a company are shown below.Using 2013 as the base year for a horizontal analysis,compute the account with the most significant change. \[\begin{array} { | l | r | r | } \hline & { 2013 } & { 2014 } \\ \hline \text { Sales } & \$ 400,000 & \$ 520,000 \\ \hline \text { General arid adrriristrative experises } & \$ 27,000 & \$ 29,700 \\ \hline \text { Irterest expense } & \$ 1,000 & \$ 1,700 \\ \hline \text { Miscellarreous experse } & \$ 100 & \$ 200 \\ \hline \end{array}\]

A) Sales. B) General and administrative expenses. C) Interest expense. D) Miscellaneous expense. E) Cannot be determined from the given data. A) Sales. B) General and administrative expenses. C) Interest expense. D) Miscellaneous expense. E) Cannot be determined from the given data.

Exam 13: Analyzing and Interpreting Financial Statements

A company had a market price of $37.50 per share,earnings per share of $1.25,and dividends per share of $0.40.Its price-earnings ratio is equal to:

(Multiple Choice)

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Question 101

General-purpose financial statements include the (1) _________, (2) _, (3) _, (4) and (5) _________.

(Essay)

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Question 102

Reporting of discontinued segments includes:

(Multiple Choice)

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Question 103

Selected comparative income statement amounts for a company are shown below.Using 2013 as the base year for a horizontal analysis,compute the account with the most significant change. 2013 2014 Sales \ 400,000 \ 520,000 General arid adrriristrative experises \ 27,000 \ 29,700 Irterest expense \ 1,000 \ 1,700 Miscellarreous experse \ 100 \ 200

(Multiple Choice)

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Question 104

A company had a market price of $83.12 per share,dividends per share of $5.40,and earnings per share of $4.87.Its price-earnings ratio is equal to:

(Multiple Choice)

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Question 105

A rough guideline states that for a company with no discounts offered,days' sales uncollected should not exceed 1⅓ times the days in its credit period,if discounts are not offered.

(True/False)

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Question 106

A good financial statement analysis report often includes the following sections: Executive summary,analysis overview,evidential matter,assumptions,key factors,and inferences.

(True/False)

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Question 107

Annual cash dividends per share divided by market price per share is equal to the:

(Multiple Choice)

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Question 108

Internal users of financial information:

(Multiple Choice)

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Question 109

Net income divided by average total assets is equal to the:

(Multiple Choice)

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Question 110

The ability to meet short-term obligations and to generate revenues using the least amount of resources is called:

(Multiple Choice)

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Question 111

A _____________________________ is a part of a company's operations that serves a particular line of business or class of customers.

(Short Answer)

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Question 112

The common-size percent is computed by:

(Multiple Choice)

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Question 113

Ratios analysis eliminates all of the differences of GAAP versus IFRS financial reporting.

(True/False)

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Question 114

A component of operating efficiency and profitability,calculated by expressing net income as a percent of net sales,is equal to the:

(Multiple Choice)

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Question 115

The three most common tools of financial analysis are:

(Multiple Choice)

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Question 116

Industry standards for financial statement analysis:

(Multiple Choice)

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Question 117

Information from a manufacturing company's current year income statement follows: Calculate the company's times interest earned.

(Short Answer)

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Question 118

If a company's activities include operations that are being discontinued,the income or loss from the discontinued operations are included on the income statement as part of income from continuing operations.

(True/False)

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Question 119

A good financial statement analysis report usually includes the following six sections: (1) __________, (2) , (3) _, (4) (5) and (6) ____________.

(Essay)

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Question 120

A company had a market price of $37.50 per share,earnings per share of $1.25,and dividends per share of $0.40.Its price-earnings ratio is equal to:

General-purpose financial statements include the (1) _________, (2) _, (3) _, (4) and (5) _________.

Reporting of discontinued segments includes:

A company had a market price of $83.12 per share,dividends per share of $5.40,and earnings per share of $4.87.Its price-earnings ratio is equal to:

A rough guideline states that for a company with no discounts offered,days' sales uncollected should not exceed 1⅓ times the days in its credit period,if discounts are not offered.

A good financial statement analysis report often includes the following sections: Executive summary,analysis overview,evidential matter,assumptions,key factors,and inferences.

Annual cash dividends per share divided by market price per share is equal to the:

Internal users of financial information:

Net income divided by average total assets is equal to the:

The ability to meet short-term obligations and to generate revenues using the least amount of resources is called:

A _____________________________ is a part of a company's operations that serves a particular line of business or class of customers.

The common-size percent is computed by:

Ratios analysis eliminates all of the differences of GAAP versus IFRS financial reporting.

A component of operating efficiency and profitability,calculated by expressing net income as a percent of net sales,is equal to the:

The three most common tools of financial analysis are:

Industry standards for financial statement analysis:

Information from a manufacturing company's current year income statement follows: Calculate the company's times interest earned.

If a company's activities include operations that are being discontinued,the income or loss from the discontinued operations are included on the income statement as part of income from continuing operations.

A good financial statement analysis report usually includes the following six sections: (1) __________, (2) , (3) _, (4) (5) and (6) ____________.

Introducing Financial Accounting

Accounting System and Financial Statements

Adjusting Accounts for Financial Statements

Reporting and Analyzing Merchandising Operations

Reporting and Analyzing Inventories

Reporting and Analyzing Cash and Internal Controls

Reporting and Analyzing Receivables

Reporting and Analyzing Long-Term Assets

Reporting and Analyzing Current Liabilities

Reporting and Analyzing Long-Term Liabilities

Reporting and Analyzing Equity

Reporting and Analyzing Cash Flows

Applying Present and Future Values

Investments and International Operations

Accounting for Partnerships

Accounting With Special Journals

Filters

Exam 13: Analyzing and Interpreting Financial Statements

A company had a market price of $37.50 per share,earnings per share of $1.25,and dividends per share of $0.40.Its price-earnings ratio is equal to:

General-purpose financial statements include the (1) ___________________, (2) ___________________, (3) _____________________________, (4) ________________________ and (5) _____________________________.

Reporting of discontinued segments includes:

A company had a market price of $83.12 per share,dividends per share of $5.40,and earnings per share of $4.87.Its price-earnings ratio is equal to:

A rough guideline states that for a company with no discounts offered,days' sales uncollected should not exceed 1⅓ times the days in its credit period,if discounts are not offered.

A good financial statement analysis report often includes the following sections: Executive summary,analysis overview,evidential matter,assumptions,key factors,and inferences.

Annual cash dividends per share divided by market price per share is equal to the:

Internal users of financial information:

Net income divided by average total assets is equal to the:

The ability to meet short-term obligations and to generate revenues using the least amount of resources is called:

A _____________________________ is a part of a company's operations that serves a particular line of business or class of customers.

The common-size percent is computed by:

Ratios analysis eliminates all of the differences of GAAP versus IFRS financial reporting.

A component of operating efficiency and profitability,calculated by expressing net income as a percent of net sales,is equal to the:

The three most common tools of financial analysis are:

Industry standards for financial statement analysis:

Information from a manufacturing company's current year income statement follows: Calculate the company's times interest earned.

If a company's activities include operations that are being discontinued,the income or loss from the discontinued operations are included on the income statement as part of income from continuing operations.

A good financial statement analysis report usually includes the following six sections: (1) ________________________, (2) ______________________, (3) _________________, (4) __________________ (5) ____________________ and (6) ______________________.

Introducing Financial Accounting

Accounting System and Financial Statements

Adjusting Accounts for Financial Statements

Reporting and Analyzing Merchandising Operations

Reporting and Analyzing Inventories

Reporting and Analyzing Cash and Internal Controls

Reporting and Analyzing Receivables

Reporting and Analyzing Long-Term Assets

Reporting and Analyzing Current Liabilities

Reporting and Analyzing Long-Term Liabilities

Reporting and Analyzing Equity

Reporting and Analyzing Cash Flows

Applying Present and Future Values

Investments and International Operations

Accounting for Partnerships

Accounting With Special Journals

Filters

General-purpose financial statements include the (1) _________, (2) _, (3) _, (4) and (5) _________.

A good financial statement analysis report usually includes the following six sections: (1) __________, (2) , (3) _, (4) (5) and (6) ____________.