- Study guides, Revision notes & Summaries

Mock Exam #1 – CMA Part 2 NOTE: Present value tables are provided on the final pages of this exam. Question 1: Which of the following is true concerning the calculation of operating income? a) b) c) d) Operating income is calculated as sales revenue minus cost of goods sold minus selling, general, and administrative expenses, plus earned interest and dividend income. Operating income is calculated as sales revenue minus cost of goods sold minus selling, general, and administrative ex...

sample Part 2 Mock 2 answers

Mock Exam #1 – CMA Part 2 Question 1: Birch Corporation had income available to common shareholders for the year of $101,504 and a simple capital structure. At the beginning of the year, there were 24,000 shares outstanding. On March 1, 5,400 new shares were issued for cash. On July 1, 6,600 new shares were issued for cash. On December 1, the company reacquired 960 Treasury shares. Basic Earnings Per Share, rounded to the nearest cent, were a) $3.20 b) $3.45 c) $3.26 d) $2.90 Question 2:...

Part2 Mock1 Answer