CFI FMVA FINAL EXAM QUESTIONS AND CORRECT
ANSWERS LATEST UPDTAE 2026/2027 | GRADED A+ | 100%
GUARANTEED PASS.
Where would 'accounts payable' most likely appear on a set of financial
statements? - ANSWER On the balance sheet under 'current liabilities'
Which is not a type of note found in a set of financial statements? - ANSWER
Significant internal controls
What is the correct syntax for the =YEARFRAC function? - ANSWER
=YEARFRAC(start_date,end_date,[basis])
When calculating the quick ratio or "acid test" which current asset or liability is
omitted? - ANSWER Inventory
Which of the following is not a function of public accounting firms? -
ANSWER Due dilligence
Using the PEST analysis, which of the following should a company like Apple
Inc. worry about the most? - ANSWER Technological forecasting and trends
Identify which of the following is NOT a good way for managers to use a
budget. - 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? - ANSWER Direct material purchase budget
What does variable cost with economies of scale mean? - ANSWER The
higher the volume of output, the less it costs to produce one extra unit
, CFI FMVA FINAL EXAM QUESTIONS AND CORRECT
ANSWERS LATEST UPDTAE 2026/2027 | GRADED A+ | 100%
The annual accounts PASS.
GUARANTEED 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 _____. - ANSWER 27.4
Which of the following is NOT a form of subordinated debt? - ANSWER
Revolver
Which ratio would you use to determine the profitability of the goods sold by a
company? - ANSWER Gross Profit Margin
Horizontal analysis allows us to analyze performance over: - ANSWER Time
If a company wanted to finance the purchase of equipment without diluting
shareholders equity, which of the following operation could it consider? -
ANSWER Issuing convertible bonds
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 _____. - ANSWER 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? - ANSWER $1,538.46
Before protecting a worksheet to avoid people from editing the formulas, you
must - ANSWER unlock the input cells
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.) -
ANSWER
You should perform sensitivity analysis when: - ANSWER You need to
determine which assumptions matter the most
ANSWERS LATEST UPDTAE 2026/2027 | GRADED A+ | 100%
GUARANTEED PASS.
Where would 'accounts payable' most likely appear on a set of financial
statements? - ANSWER On the balance sheet under 'current liabilities'
Which is not a type of note found in a set of financial statements? - ANSWER
Significant internal controls
What is the correct syntax for the =YEARFRAC function? - ANSWER
=YEARFRAC(start_date,end_date,[basis])
When calculating the quick ratio or "acid test" which current asset or liability is
omitted? - ANSWER Inventory
Which of the following is not a function of public accounting firms? -
ANSWER Due dilligence
Using the PEST analysis, which of the following should a company like Apple
Inc. worry about the most? - ANSWER Technological forecasting and trends
Identify which of the following is NOT a good way for managers to use a
budget. - 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? - ANSWER Direct material purchase budget
What does variable cost with economies of scale mean? - ANSWER The
higher the volume of output, the less it costs to produce one extra unit
, CFI FMVA FINAL EXAM QUESTIONS AND CORRECT
ANSWERS LATEST UPDTAE 2026/2027 | GRADED A+ | 100%
The annual accounts PASS.
GUARANTEED 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 _____. - ANSWER 27.4
Which of the following is NOT a form of subordinated debt? - ANSWER
Revolver
Which ratio would you use to determine the profitability of the goods sold by a
company? - ANSWER Gross Profit Margin
Horizontal analysis allows us to analyze performance over: - ANSWER Time
If a company wanted to finance the purchase of equipment without diluting
shareholders equity, which of the following operation could it consider? -
ANSWER Issuing convertible bonds
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 _____. - ANSWER 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? - ANSWER $1,538.46
Before protecting a worksheet to avoid people from editing the formulas, you
must - ANSWER unlock the input cells
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.) -
ANSWER
You should perform sensitivity analysis when: - ANSWER You need to
determine which assumptions matter the most
