CFI CBCA CORE COURSE ASSESSMENTS & QUIZZES AND ANSWERS WITH SOLUTIONS 2024

CFI CBCA CORE COURSE
ASSESSMENTS & QUIZZES AND
ANSWERS WITH SOLUTIONS 2024
WhatOisOtheOmainOgoalOofOusingObusinessOwritingOfundamentals?O-OANSWEROToOreduceOmentalOeffort



WhichOofOtheOfollowingOstatementsOdescribesOaO"Capacity"OstrengthOorOweaknessOforOaOcompanyOinOtheO
5OCsOofOcreditOframework?O-OANSWEROTheOnetOprofitOmarginOratioOisOhigh.



WhichOofOtheOfollowingOstatementsOdescribesOaO"Condition"OstrengthOorOweaknessOforOaOcompanyOinOthe
O5OCsOofOcreditOframework?O-OANSWEROTheOrisksOassociatedOwithOtheOindustryOareOhigh.




WhichOofOtheOfollowingOscenariosOwouldONOTObeOconsideredOaOstrengthOwhenOassessingOtheOmanageme
ntOteamOasOpartOofOevaluatingOaOcompany'sOcharacter?O-
OANSWEROFinancialOreportsOareOnotOwidelyOsharedOandOperformanceOmeasuresOhaveOnotObeenOidentified

.



WhichOofOtheOfollowingOratiosOmostOlikelyOindicatesOstrongO"Capacity"OforOaOcompany?O-
OANSWEROHighOassetOturnoverOratio




SelectOtheOcorrectOformulaOtoOcalculateOtheOoperatingOmarginOratio.O-
OANSWEROOperatingOMarginORatioO=OEBITO/ORevenue




SelectOtheOcorrectOformulaOtoOcalculateOtheOinventoryOturnoverOratio.O-
OANSWEROInventoryOTurnoverORatioO=OCostOofOGoodsOSoldO/OAverageOInventory




WhichOofOtheOfollowingOmostOlikelyOindicatesOstrongO"Capital"OforOaOcompany?O-
OANSWEROUnutilizedOlinesOofOcreditOorOloans




WhichOofOtheOfollowingOstatementsOonOcollateralOisONOTOcorrect?O-
OANSWEROCollateralOcanObeOusedOasOtheOmainOdeterminantOofOaOcreditOdecision.

,WhichOofOtheOfollowingOtoolsOorOmethodsOisOusedOtoOassessOtheOgeneralObusinessOenvironment?O-
OANSWEROPESTOanalysis




SelectOtheOloanOcontractOwithOtheOlowestOrisk.O-
OANSWEROAOdemandOloanOwithOmonthlyOpaymentsOsecuredObyOassets




WhichOisOnotOoneOofOtheOthreeOmainOfinancialOstatements?O-OANSWEROStatementOofOequity



WhatOdoesOtheObalanceOsheetOindicate?O-OANSWEROTheOfinancialOstrengthOofOtheObusiness



FinancingOactivitiesO-OANSWEROIssuingOsharesOandObonds



OperatingOactivitiesO-OANSWEROPaymentsOtoOsuppliers;ODepreciationOandOamortizationOexpense



InvestingOactivitiesO-OANSWEROBuyingOandOsellingOequipment



WhichOisOnotOaOsectionOinOtheOfinancialOstatementOnoteOdisclosures?O-
OANSWEROManagementOdiscussionOandOanalysis




BalanceOSheetO-OANSWERORetainedOearnings;OShareOcaptial



IncomeOStatementO-OANSWERORentOexpense



CashOFlowOStatementO-OANSWEROSaleOofOproperty,OplantOandOequipment



IfOaOcompanyOhasOnetOassetsOequalOtoO$3.25OmillionObutOisOsoldOforO$5.35Omillion,OhowOmuchOgoodwillOdo
esOtheOacquirerOrecordOonOtheirObalanceOsheet?O-OANSWERO$2.1Omillion



IntangibleOassetsO-
OANSWEROItemsOofOvalue,OwhichOhaveOnoOphysicalOsubstance,OthatOareOusedOtoOgenerateOrevenues

, AuthorizedOsharesO-OANSWEROTheOtotalOnumberOofOsharesOaOcompanyOcanOsell



ContingenciesO-OANSWEROEventsOthatOmayOorOmayOnotOhappen,OdependingOonOcertainOcircumstances



CommitmentsO-OANSWEROFutureOobligationsOthatOaOcompanyOhasOagreedOto



IfOaOcompanyOissuesO60,000OsharesOatO$0.25OeachObutOtheOsharesOhaveOaOparOvalueOofO$0.20Oeach,OwhatOi
sOtheOresultingOcontributedOsurplus?O-OANSWERO$3,000



WhatOlineOitemOisOnotOfoundOinOtheOstatementOofOshareholders'Oequity?O-
OANSWERODebtOissuedOorOrepurchased




WhatOisOnotOtrueOaboutOaOpartnership?O-OANSWEROPartnersOcannotObeOheldOliableOforOaOdebt



WhichOlineOitemOusuallyOaccountsOforOdirectOlabor?O-OANSWEROCostOofOgoodsOsold



SelectOtheOstatementsObelowOwhichOareOtrue.OSelectOallOthatOapply.O-
OANSWERODepreciationOandOamortizationOareOnon-

cashOexpenses;OAOcompanyOcanObeOprofitableObutOexperienceOnegativeOcashOflows



WhatOareOtheO4OtypesOofOauditOopinions?O-
OANSWEROAdverse,Ounqualified,Oqualified,OandOdisclaimerOofOopinion




WhichOofOtheOfollowingOstatementsOregardingOaOreviewOengagementOisOfalse?O-
OANSWEROAOreviewOengagementOisOusedOforOfinancialOstatementsOpreparedOforOinternalOuse




SelectOtheOfollowingOkeyOlendingOratiosOusedOtoOevaluateOtheOfinancialOcapacityOofOaObusinessO(selectOallOt
hatOapply).O-OANSWERODebtOtoOequityOratio;OWorkingOcapitalOratio



WhichOofOtheOfollowingOtoolsOisONOTOusedOtoOanalyzeOaOcompany?O-OANSWEROPorter'sOfiveOforces