Finance Applications and Theory 15th Edition Cornett Solutions.pdf

DOWNLOAD THE Test Bank for Finance Applications and Theory 5th Edition
Cornett


Finance,b5eb(Cornett)
Chapterb2 ReviewingbFinancialbStatements

1) Whichbfinancialbstatementbreportsbabfirm'sbassets,bliabilities,bandbequitybatbabparticularbpointbinbti
me?
A) balancebsheet
B) incomebstatement
C) statementbofbretainedbearnings
D) statementbofbcashbflows

Answer:b AbDifficulty
:b1bEasybTopic:b Balan
cebsheetbBloom's:b b Un
derstand
AACSB:b ReflectivebThinkingbAccessi
bility:b KeyboardbNavigation
LearningbGoal:b 02-01bRecallbthebmajorbfinancialbstatementsbthatbfirmsbmustbpreparebandbprovide.

2) Whichbfinancialbstatementbshowsbthebtotalbrevenuesbthatbabfirmbearnsbandbthebtotalbexpensesbthebf
irmbincursbtobgeneratebthosebrevenuesboverbabspecificbperiodbofbtime–generallybonebyear?
A) balancebsheet
B) incomebstatement
C) statementbofbretainedbearnings
D) statementbofbcashbflows

Answer:b BbDifficulty
:b1bEasy
Topic:b IncomebstatementbBloo
m's:b UnderstandbAACSB:b Re
flectivebThinking
Accessibility:b b KeyboardbNavigation
LearningbGoal:b 02-01bRecallbthebmajorbfinancialbstatementsbthatbfirmsbmustbpreparebandbprovide.




1
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,DOWNLOAD THE Test Bank for Finance Applications and Theory 5th Edition
Cornett


3) Whichbfinancialbstatementbreportsbthebamountsbofbcashbthatbthebfirmbgeneratedbandbdistributedbd
uringbabparticularbtimebperiod?
A) balancebsheet
B) incomebstatement
C) statementbofbretainedbearnings
D) statementbofbcashbflows

Answer:b DbDifficult
y:b1bEasy
Topic:b StatementbofbcashbflowsbBloom'
s:b Understand
AACSB:b ReflectivebThinkingbAccessi
bility:b KeyboardbNavigation
LearningbGoal:b 02-01bRecallbthebmajorbfinancialbstatementsbthatbfirmsbmustbpreparebandbprovide.

4) Whichbfinancialbstatementbreconcilesbnetbincomebearnedbduringbabgivenbperiodbandbanybcashbd
ividendsbpaidbwithinbthatbperiodbusingbthebchangebinbretainedbearningsbbetweenbthebbeginningban
dbendbofbthebperiod?
A) balancebsheet
B) incomebstatement
C) statementbofbretainedbearnings
D) statementbofbcashbflows

Answer:b CbDifficulty
:b1bEasy
Topic:b Statementbofbretainedbearningsb
Bloom's:b Understand
AACSB:b ReflectivebThinkingbAccessi
bility:b KeyboardbNavigation
LearningbGoal:b 02-01bRecallbthebmajorbfinancialbstatementsbthatbfirmsbmustbpreparebandbprovide.




2
Copyright 2020 © McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior
written consent of McGraw-Hill Education.
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,DOWNLOAD THE Test Bank for Finance Applications and Theory 5th Edition
Cornett


5) Onbwhichbofbthebfourbmajorbfinancialbstatementsbwouldbyoubfindbthebcommonbstockbandbpaid-
inbsurplus?
A) balancebsheet
B) incomebstatement
C) statementbofbcashbflows
D) statementbofbretainedbearnings

Answer:b AbDifficulty
:b1bEasybTopic:b Balan
cebsheetbBloom's:b b Un
derstand
AACSB:b ReflectivebThinkingbAccessi
bility:b KeyboardbNavigation
LearningbGoal:b 02-01bRecallbthebmajorbfinancialbstatementsbthatbfirmsbmustbpreparebandbprovide.

6) Onbwhichbofbthebfourbmajorbfinancialbstatementsbwouldbyoubfindbthebincreasebinbinventory?
A) balancebsheet
B) incomebstatement
C) statementbofbcashbflows
D) statementbofbretainedbearnings

Answer:b CbDifficulty
:b1bEasy
Topic:b StatementbofbcashbflowsbBloom'
s:b Understand
AACSB:b ReflectivebThinkingbAccessi
bility:b KeyboardbNavigation
LearningbGoal:b 02-01bRecallbthebmajorbfinancialbstatementsbthatbfirmsbmustbpreparebandbprovide.

7) Onbwhichbofbthebfourbmajorbfinancialbstatementsbwouldbyoubfindbnetbplantbandbequipment?
A) balancebsheet
B) incomebstatement
C) statementbofbcashbflows
D) statementbofbretainedbearnings

Answer:b AbDifficulty
:b1bEasybTopic:b Balan
cebsheetbBloom's:b b Un
derstand
AACSB:b ReflectivebThinkingbAccessi
bility:b KeyboardbNavigation
LearningbGoal:b 02-01bRecallbthebmajorbfinancialbstatementsbthatbfirmsbmustbpreparebandbprovide.




3
Copyright 2020 © McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior
written consent of McGraw-Hill Education.
mynursytest.store

, DOWNLOAD THE Test Bank for Finance Applications and Theory 5th Edition
Cornett


8) Financialbstatementsbofbpubliclybtradedbfirmsbcanbbebfoundbinbabnumberbofbplaces.bWhichbofbthebf
ollowingbisbNOTbanboptionbforbfindingbpubliclybtradedbfirms'bfinancialbstatements?
A) Facebook
B) abfirm'sbwebsite
C) SecuritiesbandbExchangebCommission'sb(SEC)bwebsite
D) websitesbsuchbasbfinance.yahoo.com

Answer:b AbDifficult
y:b1bEasy
Topic:b FinancialbstatementsbB
loom's:b Rememberb AACSB:
b ReflectivebThinking

Accessibility:b b KeyboardbNavigation
LearningbGoal:b 02-01bRecallbthebmajorbfinancialbstatementsbthatbfirmsbmustbpreparebandbprovide.

9) WhichbofbthebfollowingbchangesbarebtruebofbthebTaxbCutbandbJobsbActb(TCJA)bofb2017?
A) Businessesbareballowedbtobimmediatelybdeductb100%bofbthebcostbofbeligiblebpropertybinbtheby
earbitbisbplacedbintobservicebthroughb2022.
B) Allowablebbonusbdepreciationsbwillbphasebdownboverbfourbyears.
C) BothbAbandbBbarebtrue.
D) Nonebofbthebabovebarebtrue.

Answer:b CbDifficulty
:b1bEasy
Topic:b FinancialbstatementsbB
loom's:b Rememberb AACSB:
b ReflectivebThinking

Accessibility:b b KeyboardbNavigation
LearningbGoal:b 02-01bRecallbthebmajorbfinancialbstatementsbthatbfirmsbmustbpreparebandbprovide.




4
Copyright 2020 © McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior
written consent of McGraw-Hill Education.
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