CFI FMVA Final Exam || Faultless Answers 100%.
Where would 'accounts payable' most likely appear on a set of financial statements? correct
answers On the balance sheet under 'current liabilities'
Which is not a type of note found in a set of financial statements? correct answers Significant
internal controls
What is the correct syntax for the =YEARFRAC function? correct answers
=YEARFRAC(start_date,end_date,[basis])
Which of the following is NOT a form of subordinated debt? correct answers Revolver
Which of the following is not a function of public accounting firms? correct answers Due
dilligence
Which ratio would you use to determine the profitability of the goods sold by a company?
correct answers Gross Profit Margin
Horizontal analysis allows us to analyze performance over: correct answers Time
If a company wanted to finance the purchase of equipment without diluting shareholders equity,
which of the following operation could it consider? correct answers Issuing convertible bonds
When calculating the quick ratio or "acid test" which current asset or liability is omitted? correct
answers Inventory
Using the PEST analysis, which of the following should a company like Apple Inc. worry about
the most? correct answers Technological forecasting and trends
, Identify which of the following is NOT a good way for managers to use a budget. correct
answers Managers can use budgets alone to estimate how well they perform over a period of
time
Which of the following components is not necessary to have in every master budget? correct
answers Direct material purchase budget
What does variable cost with economies of scale mean? correct answers The higher the volume
of output, the less it costs to produce one extra unit
Before protecting a worksheet to avoid people from editing the formulas, you must correct
answers unlock the input cells
The annual accounts receivable is 3,000; the annual sales 40,000, and the gross profit margin is
40%.
The receivable days estimated from the data above is _____. correct answers 27.4
The PP&E gross book value at the start of the month is 60,000, and the CAPEX of the month is
12,000. The accumulated depreciation at the start of the month is 25,000; the depreciation
expense of the month is 750. The net book value of PP&E calculated from the data above is
_____. correct answers 46,250
Simple interest is important framework to start learning about Time value of MoneyIf you are
going to receive $2,000 in six years from now, how much is that worth today, assuming 5%
annual simple interest? correct answers $1,538.46
The formula contained in the yellow highlighted cell (I39) is = ( , I9,I24). This formula can be
copied over to the entire live scenario section without any manual modification. (Hint: do not
forget to use absolute references.) correct answers
You should perform sensitivity analysis when: correct answers You need to determine which
assumptions matter the most
Where would 'accounts payable' most likely appear on a set of financial statements? correct
answers On the balance sheet under 'current liabilities'
Which is not a type of note found in a set of financial statements? correct answers Significant
internal controls
What is the correct syntax for the =YEARFRAC function? correct answers
=YEARFRAC(start_date,end_date,[basis])
Which of the following is NOT a form of subordinated debt? correct answers Revolver
Which of the following is not a function of public accounting firms? correct answers Due
dilligence
Which ratio would you use to determine the profitability of the goods sold by a company?
correct answers Gross Profit Margin
Horizontal analysis allows us to analyze performance over: correct answers Time
If a company wanted to finance the purchase of equipment without diluting shareholders equity,
which of the following operation could it consider? correct answers Issuing convertible bonds
When calculating the quick ratio or "acid test" which current asset or liability is omitted? correct
answers Inventory
Using the PEST analysis, which of the following should a company like Apple Inc. worry about
the most? correct answers Technological forecasting and trends
, Identify which of the following is NOT a good way for managers to use a budget. correct
answers Managers can use budgets alone to estimate how well they perform over a period of
time
Which of the following components is not necessary to have in every master budget? correct
answers Direct material purchase budget
What does variable cost with economies of scale mean? correct answers The higher the volume
of output, the less it costs to produce one extra unit
Before protecting a worksheet to avoid people from editing the formulas, you must correct
answers unlock the input cells
The annual accounts receivable is 3,000; the annual sales 40,000, and the gross profit margin is
40%.
The receivable days estimated from the data above is _____. correct answers 27.4
The PP&E gross book value at the start of the month is 60,000, and the CAPEX of the month is
12,000. The accumulated depreciation at the start of the month is 25,000; the depreciation
expense of the month is 750. The net book value of PP&E calculated from the data above is
_____. correct answers 46,250
Simple interest is important framework to start learning about Time value of MoneyIf you are
going to receive $2,000 in six years from now, how much is that worth today, assuming 5%
annual simple interest? correct answers $1,538.46
The formula contained in the yellow highlighted cell (I39) is = ( , I9,I24). This formula can be
copied over to the entire live scenario section without any manual modification. (Hint: do not
forget to use absolute references.) correct answers
You should perform sensitivity analysis when: correct answers You need to determine which
assumptions matter the most
