CFI FMVA Final Exam NEWEST 2025-2026 COMPLETE
QUESTIONS AND CORRECT DETAILED ANSWERS (VERIFIED
ANSWERS) |ALREADY GRADED A+||BRAND NEW VERSION!!
Which of the following is NOT a form of subordinated debt? - CORRECT ANSWER-
Revolver
Which of the following is not a function of public accounting firms? - CORRECT
ANSWER- Due dilligence
Which ratio would you use to determine the profitability of the goods sold by a
company? - CORRECT ANSWER- Gross Profit Margin
Horizontal analysis allows us to analyze performance over: - CORRECT ANSWER- Time
If a company wanted to finance the purchase of equipment without diluting
shareholders equity, which of the following operation could it consider? - CORRECT
ANSWER- Issuing convertible bonds
When calculating the quick ratio or "acid test" which current asset or liability is
omitted? - CORRECT ANSWER- Inventory
, Where would 'accounts payable' most likely appear on a set of financial
statements? - CORRECT ANSWER- On the balance sheet under 'current liabilities'
Which is not a type of note found in a set of financial statements? - CORRECT ANSWER-
Significant internal controls
What is the correct syntax for the =YEARFRAC function? - CORRECT ANSWER-
=YEARFRAC(start_date,end_date,[basis])
Using the PEST analysis, which of the following should a company like Apple Inc.
worry about the most? - CORRECT ANSWER- Technological forecasting and trends
Identify which of the following is NOT a good way for managers to use a budget. -
CORRECT ANSWER- 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 ANSWER- Direct material purchase budget
What does variable cost with economies of scale mean? - CORRECT ANSWER- 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 ANSWER- unlock the input cells
QUESTIONS AND CORRECT DETAILED ANSWERS (VERIFIED
ANSWERS) |ALREADY GRADED A+||BRAND NEW VERSION!!
Which of the following is NOT a form of subordinated debt? - CORRECT ANSWER-
Revolver
Which of the following is not a function of public accounting firms? - CORRECT
ANSWER- Due dilligence
Which ratio would you use to determine the profitability of the goods sold by a
company? - CORRECT ANSWER- Gross Profit Margin
Horizontal analysis allows us to analyze performance over: - CORRECT ANSWER- Time
If a company wanted to finance the purchase of equipment without diluting
shareholders equity, which of the following operation could it consider? - CORRECT
ANSWER- Issuing convertible bonds
When calculating the quick ratio or "acid test" which current asset or liability is
omitted? - CORRECT ANSWER- Inventory
, Where would 'accounts payable' most likely appear on a set of financial
statements? - CORRECT ANSWER- On the balance sheet under 'current liabilities'
Which is not a type of note found in a set of financial statements? - CORRECT ANSWER-
Significant internal controls
What is the correct syntax for the =YEARFRAC function? - CORRECT ANSWER-
=YEARFRAC(start_date,end_date,[basis])
Using the PEST analysis, which of the following should a company like Apple Inc.
worry about the most? - CORRECT ANSWER- Technological forecasting and trends
Identify which of the following is NOT a good way for managers to use a budget. -
CORRECT ANSWER- 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 ANSWER- Direct material purchase budget
What does variable cost with economies of scale mean? - CORRECT ANSWER- 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 ANSWER- unlock the input cells
