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1、CHAPTER4ANALYSISOFFINANCIALSTATEMENTS(DifficultyLevels:Easy,Easy/Medium,Medium,Medium/Hard,andHard)Tokeepthischapterfrominvolvingtoomuchmemorization,weprovideourstudentswithaformulasheetforuseonexams.Thatmakesafewofthequestionstriviallyeasy,butmostrequiresomethought,an
2、dsomearedownrightchallenging.Eventheveryeasyonesmakestudentsthinkabouttheratios.ThechallengingquestionsarelabeledHARD,andmoststudentswillagreewiththatdesignation.Someofthesequestionsarejustdefinitions,butothersrequirerealthoughtaboutthemake-upoftheratiosandrelationship
3、samongtheratios.Wetellourstudentsthattoanswersomeofthesequestionsitisuseful(1)towriteouttherelevantratioorratios,(2)thentothinkabouthowtheratioswouldchangeiftheaccountingdatachanged,and(3)occasionallytomakeupillustrativedatatotesttheirconclusions.Notethatthereissomeove
4、rlapbetweentheT/Fandthemultiplechoicequestions,assomeT/FstatementsareusedintheMCquestions.SeetheprefaceforinformationontheAACSBletterindicators(F,M,etc.)onthesubjectlines.MultipleChoice:True/False(4-1)RatioanalysisCFKAnswer:aEASY.(4-1)RatioanalysisCFKAnswer:aEASY.Ratio
5、analysisinvolvesanalyzingfinancialstatementstohelpappraiseafirm'sfinancialpositionandstrength.a.Trueb.False(4-2)LiquidityratiosCFKAnswer:aEASY.(4-2)LiquidityratiosCFKAnswer:aEASY.Thecurrentandquickratiosbothhelpusmeasureafirm'sliquidity.Thecurrentratiomeasurestherelati
6、onshipofthefirm'scurrentassetstoitscurrentliabilities,whilethequickratiomeasuresthefirm’sabilitytopayoffshort-termobligationswithoutrelyingonthesaleofinventories.a.Trueb.False(4-2)LiquidityratiosCFKAnswer:aEASY.(4-2)LiquidityratiosCFKAnswer:aEASY.Althoughafullliquidity
7、analysisrequirestheuseofacashbudget,thecurrentandquickratiosprovidefastandeasy-to-useestimatesofafirm'sliquidityposition.a.Trueb.FalseChapter4:StatementAnalysisTrue/FalsePage99©2013CengageLearning.AllRightsReserved.Maynotbecopied,scanned,orduplicated,inwholeorinpart,ex
8、ceptforuseaspermittedinalicensedistributedwithacertainproductorserviceorotherwiseonapassword-protectedwebsiteforclass
