FIN 461 QUESTIONS WITH 100% VERIFIED ANSWERS!!
Which of the following organizations write accounting rules?
FASB, SEC, IASB
The Federal Reserve's goal is to reduce inflation to an annualized rate of:
%2
Jerome Powell, the Federal Reserve chair, just announced that the board plans to
____________ interest rates given that the upside risks of inflation have diminished but the
downside risks to employment have increased.
lower
What are the basic financial statements provided in an annual report:
balance sheet, combined statment of comprehensive income, statement of cash flows, and
statement of stockholder's equity
. What items are included in the notes to the financial statements?
all of the above
Which information is hard to find or missing from the financial statements?
provisions for management succession
what is the accrual basis of accounting
recognition of revenue in the accounting period when the sale is made rather than when cash is
received
matching expenses with revenue in the appropriate accounting period
Beginning with annual reports for fiscal years ending on or after December 15, 2023, the SEC
requires disclosure of this new item:
, Item 1 Cybersecurity
where would you find the following information?
summary of significant accounting policies
notes to the financial statements
background information about nominees to the board of directors
proxy statement
discussion of the company's results of operations
management discussion and analysis
an attestation of the fairness of financial statements
auditor's reports
cash flow from operating, investing, and financing activities
financial statements
a disclaimer of opinion
auditor's report
If a company's balance sheet shows 3M in inventories, 5M in current assets, and 10M in total
assets. How would the inventories item show in the common-size balance sheet?
30%
What type of firm generally has the highest proportion of inventory to total assets?
retailers
What does the balance sheet summarize for a business?
financial position at a point in time
Which of the following organizations write accounting rules?
FASB, SEC, IASB
The Federal Reserve's goal is to reduce inflation to an annualized rate of:
%2
Jerome Powell, the Federal Reserve chair, just announced that the board plans to
____________ interest rates given that the upside risks of inflation have diminished but the
downside risks to employment have increased.
lower
What are the basic financial statements provided in an annual report:
balance sheet, combined statment of comprehensive income, statement of cash flows, and
statement of stockholder's equity
. What items are included in the notes to the financial statements?
all of the above
Which information is hard to find or missing from the financial statements?
provisions for management succession
what is the accrual basis of accounting
recognition of revenue in the accounting period when the sale is made rather than when cash is
received
matching expenses with revenue in the appropriate accounting period
Beginning with annual reports for fiscal years ending on or after December 15, 2023, the SEC
requires disclosure of this new item:
, Item 1 Cybersecurity
where would you find the following information?
summary of significant accounting policies
notes to the financial statements
background information about nominees to the board of directors
proxy statement
discussion of the company's results of operations
management discussion and analysis
an attestation of the fairness of financial statements
auditor's reports
cash flow from operating, investing, and financing activities
financial statements
a disclaimer of opinion
auditor's report
If a company's balance sheet shows 3M in inventories, 5M in current assets, and 10M in total
assets. How would the inventories item show in the common-size balance sheet?
30%
What type of firm generally has the highest proportion of inventory to total assets?
retailers
What does the balance sheet summarize for a business?
financial position at a point in time
