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1、CMAPart2–FinancialDecisionMakingExaminationPracticeQuestions©Copyright2014InstituteofCertifiedManagementAccountantsCMAPart2–FinancialDecisionMakingExaminationPracticeQuestionsSectionA:FinancialStatementAnalysis1.CSO:2A1aLOS:2A1aGordonhashadthefollowingfinanci
2、alresultsforthelastfouryears.Year1Year2Year3Year4Sales$1,250,000$1,300,000$1,359,000$1,400,000Costofgoodssold750,000785,000825,000850,000Grossprofit500,000515,000534,000550,000Inflationfactor1.001.031.071.10Gordonhasanalyzedtheseresultsusingverticalcommon-siz
3、eanalysistodeterminetrends.TheperformanceofGordoncanbestbecharacterizedbywhichoneofthefollowingstatements?a.Thecommon-sizegrossprofitpercentagehasdecreasedasaresultofanincreasingcommon-sizetrendincostofgoodssold.b.Thecommon-sizetrendinsalesisincreasingandisre
4、sultinginanincreasingtrendinthecommon-sizegrossprofitmargin.c.Thecommon-sizetrendincostofgoodssoldisdecreasingwhichisresultinginanincreasingtrendinthecommon-sizegrossprofitmargin.d.Theincreasedtrendinthecommon-sizegrossprofitpercentageistheresultofboththeincr
5、easingtrendinsalesandthedecreasingtrendincostofgoodssold.2.CSO:2A2aLOS:2A2aBroomallCorporationhasdecidedtoincludecertainfinancialratiosinitsyear-endannualreporttoshareholders.Selectedinformationrelatingtoitsmostrecentfiscalyearisprovidedbelow.·Cash$10,000·Acc
6、ountsreceivable20,000·Prepaidexpenses8,000·Inventory30,000·Available-for-salesecurities-Atcost9,000-Fairvalueatyearend12,000·Accountspayable15,000·Notespayable(duein90days)25,000·Bondspayable(duein10years)35,000·Netcreditsalesforyear220,000·Costofgoodssold140
7、,000Broomall’sworkingcapitalatyearendisa.$40,000.b.$37,000.c.$28,000.d.$10,000.3.CSO:2A2aLOS:2A2bAllofthefollowingareaffectedwhenmerchandiseispurchasedoncreditexcepta.totalcurrentassets.b.networkingcapital.c.totalcurrentliabilities.d.currentratio.4.CSO:2A2aLO
8、S:2A2aBirchProductsInc.hasthefollowingcurrentassets.Cash$250,000Marketablesecurities100,000Accountsreceivable800,000Inventories1,450,000Totalcurrentassets$2,600,000IfBirch’scurrentliabili
