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1、-CMAPart2–FinancialDecisionMakingExaminationPracticeQuestionsSectionA:FinancialStatementAnalysis1.CSO:2A1aLOS:2A1gGordonhashadthefollowingfinancialresultsforthelastfouryears.Year1Year2Year3Year4Sales$1,250,000$1,300,000$1,359,000$1,400,000Costofgoodssold750,000785
2、,000825,000850,000Grossprofit500,000515,000534,000550,000Inflationfactor1.001.031.071.10Gordonhasanalyzedtheseresultsusingverticalcommon-sizeanalysistodeterminetrends.TheperformanceofGordoncanbestbecharacterizedbywhichoneofthefollowingstatements?a.Thecommon-sizegr
3、ossprofitpercentagehasdecreasedasaresultofanincreasingcommon-sizetrendincostofgoodssold.b.Thecommon-sizetrendinsalesisincreasingandisresultinginanincreasingtrendinthecommon-sizegrossprofitmargin.c.Thecommon-sizetrendincostofgoodssoldisdecreasingwhichisresultingina
4、nincreasingtrendinthecommon-sizegrossprofitmargin.d.Theincreasedtrendinthecommon-sizegrossprofitpercentageistheresultofboththeincreasingtrendinsalesandthedecreasingtrendincostofgoodssold.2.CSO:2A1dLOS:2A1aThefinancialstatementsincludedintheannualreporttotheshareho
5、ldersareleastusefultowhichoneofthefollowing?a.Stockbrokers.b.Bankerspreparingtolendmoney.c.Competingbusinesses.d.Managersinchargeofoperatingactivities.3.CSO:2A1dLOS:2A1fWhichoneofthefollowingwouldresultinadecreasetocashflowintheindirectmethodofpreparingastatemento
6、fcashflows?a.Amortizationexpense.b.Decreaseinincometaxespayable.c.Proceedsfromtheissuanceofcommonstock.d.Decreaseininventories.4.CSO:2A1dLOS:2A1bThestatementofshareholders’equityshowsaa.reconciliationofthebeginningandendingbalancesinshareholders’equityaccounts.b.l
7、istingofallshareholders’equityaccountsandtheircorrespondingdollaramounts.c.computationofthenumberofsharesoutstandingusedforearningspersharecalculations.d.reconciliationofthebeginningandendingbalancesintheRetainedEarningsaccount.5.CSO:2A1dLOS:2A1bWhenusingthestatem
8、entofcashflowstoevaluateacompany’scontinuingsolvency,themostimportantfactortoconsideristhecasha.balanceattheendoftheperiod.b.flowsfrom(usedfor)operating
