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1、CHAPTER6—ACCOUNTINGFORFINANCIALMANAGEMENT1. Theannualreportcontainsfourbasicfinancialstatements:theincomestatement,balancesheet,statementofcashflows,andstatementofstockholders'equity. a. True b. FalseANSWER: TruePOINTS: 1DIFFICULTY: Difficulty:EasyLEARNIN
2、G OBJECTIVES: INTE.GENE.16.36-LO:6-1NATIONAL STANDARDS: UnitedStates-BUSPROG:ReflectiveThinkingSTATE STANDARDS: UnitedStates-AK-DISC:Financialstatements,anal-DISC:Financialstatements,analysis,forecasting,andcashflowsLOCAL STANDARDS: UnitedStates-OH-Defau
3、ltCity-TBATOPICS: AnnualreportKEYWORDS: Bloom’s:Knowledge2. Theprimaryreasontheannualreportisimportantinfinanceisthatitisusedbyinvestorswhentheyformexpectationsaboutthefirm'sfutureearningsanddividends,andtheriskinessofthosecashflows. a. True b. FalseANSWER
4、: TruePOINTS: 1DIFFICULTY: Difficulty:EasyLEARNING OBJECTIVES: INTE.GENE.16.36-LO:6-1NATIONAL STANDARDS: UnitedStates-BUSPROG:ReflectiveThinkingSTATE STANDARDS: UnitedStates-AK-DISC:Financialstatements,anal-DISC:Financialstatements,analysis,forecasting
5、,andcashflowsLOCAL STANDARDS: UnitedStates-OH-DefaultCity-TBATOPICS: AnnualreportandexpectationsKEYWORDS: Bloom’s:Knowledge3. ConsiderthebalancesheetofWilkesIndustriesasshownbelow.BecauseWilkeshas$800,000ofretainedearnings,thecompanywouldbeabletopaycashto
6、buyanassetwithacostof$200,000.Cash$ 50,000Accountspayable$ 100,000Inventory200,000Accruals 100,000Accountsreceivable 250,000TotalCL$ 200,000TotalCA$ 500,000Debt200,000Netfixedassets$ 900,000Commonstock200,000 _________Retainedearnings 800,000
7、Totalassets$1,400,000TotalL&E$1,400,000 a. True b. FalseANSWER: FalsePOINTS: 1DIFFICULTY: Difficulty:EasyLEARNING OBJECTIVES: INTE.GENE.16.37-LO:6-2CengageLearningTesting,PoweredbyCogneroPage 40CHAPTER6—ACCOUNTINGFORFINANCIALMANAGEMENTNATIONAL STANDARDS:
8、 UnitedStates-BUSPROG:AnalyticSTATE STANDARDS: UnitedStates-AK-DISC:Financialstatements,anal-DISC:Financialstatements,analysis,forecasting,andcashflowsLOCAL STANDARDS: UnitedStates-OH-Default
