CFI FMVA 2025/2026 Exam Questions
and Answers 100% Guaranteed Success
| Already Rated A+
Income statement accounting - 🧠 ANSWER ✔✔Accrual - revenues & costs
recorded as a business earns or incurs them, not as it receives and pays money
It includes them in the relevant period's income statement and matches them as
closely as possible
CF makes no difference whatsoever - IS where sale happens
=> How do you decide when sale happens? RECOGNIZE REV UPON
DELIVERY OF GOOD/SERVICE PERFORMED
Why are profits and cash flow not the same thing? - 🧠 ANSWER ✔✔Accounting
differences
The idea of matching over time - 🧠 ANSWER ✔✔
CFS Accounting - 🧠 ANSWER ✔✔Only records transactions when cash is
received
COPYRIGHT©NINJANERD 2025/2026. YEAR PUBLISHED 2025. COMPANY REGISTRATION NUMBER: 619652435.
TERMS OF USE. PRIVACY STATEMENT. ALL RIGHTS RESERVED 1
,VS
IS records ALL revenues earned, whether in cash or accrued
Cash accounting method - 🧠 ANSWER ✔✔record income and expenditures at the
time the money changes hands
Cash accounting method - 🧠 ANSWER ✔✔An accounting method in which
income and expenditures are recorded at the time the money changes hands.
Accrual Accounting - 🧠 ANSWER ✔✔recording in each fiscal period applicable
expenses, whether paid or not, and income earned, whether collected or not.
Accrual Basis Accounting - 🧠 ANSWER ✔✔reporting income when it is earned
and expenses when they are incurred
Accrual Basis Accounting - 🧠 ANSWER ✔✔the method of accounting that
recognizes revenue when it is earned and matches expenses to the revenues they
helped produce
Accrual Basis Accounting - 🧠 ANSWER ✔✔Accounting basis in which companies
record, in the periods in which the events occur, transactions that change a
company's financial statements, even if cash was not exchanged.
COPYRIGHT©NINJANERD 2025/2026. YEAR PUBLISHED 2025. COMPANY REGISTRATION NUMBER: 619652435.
TERMS OF USE. PRIVACY STATEMENT. ALL RIGHTS RESERVED 2
,accrued expenses - 🧠 ANSWER ✔✔expenses incurred in one fiscal period but not
paid until a later fiscal period
accrued expenses - 🧠 ANSWER ✔✔expenses incurred but not yet paid in cash or
recorded
Cash flow from operating activities - 🧠 ANSWER ✔✔The net amount of cash
provided from operating activities.
cash flow from financing activities - 🧠 ANSWER ✔✔
The idea of matching over time - 🧠 ANSWER ✔✔
CFS Accounting - 🧠 ANSWER ✔✔Only records transactions when cash is
received
VS
IS records ALL revenues earned, whether in cash or accrued
Cash accounting method - 🧠 ANSWER ✔✔record income and expenditures at the
time the money changes hands
Cash accounting method - 🧠 ANSWER ✔✔An accounting method in which
income and expenditures are recorded at the time the money changes hands.
COPYRIGHT©NINJANERD 2025/2026. YEAR PUBLISHED 2025. COMPANY REGISTRATION NUMBER: 619652435.
TERMS OF USE. PRIVACY STATEMENT. ALL RIGHTS RESERVED 3
, Accrual Accounting - 🧠 ANSWER ✔✔recording in each fiscal period applicable
expenses, whether paid or not, and income earned, whether collected or not.
Accrual Basis Accounting - 🧠 ANSWER ✔✔reporting income when it is earned
and expenses when they are incurred
Accrual Basis Accounting - 🧠 ANSWER ✔✔the method of accounting that
recognizes revenue when it is earned and matches expenses to the revenues they
helped produce
Accrual Basis Accounting - 🧠 ANSWER ✔✔Accounting basis in which companies
record, in the periods in which the events occur, transactions that change a
company's financial statements, even if cash was not exchanged.
accrued expenses - 🧠 ANSWER ✔✔expenses incurred in one fiscal period but not
paid until a later fiscal period
accrued expenses - 🧠 ANSWER ✔✔expenses incurred but not yet paid in cash or
recorded
Cash flow from operating activities - 🧠 ANSWER ✔✔The net amount of cash
provided from operating activities.
COPYRIGHT©NINJANERD 2025/2026. YEAR PUBLISHED 2025. COMPANY REGISTRATION NUMBER: 619652435.
TERMS OF USE. PRIVACY STATEMENT. ALL RIGHTS RESERVED 4
and Answers 100% Guaranteed Success
| Already Rated A+
Income statement accounting - 🧠 ANSWER ✔✔Accrual - revenues & costs
recorded as a business earns or incurs them, not as it receives and pays money
It includes them in the relevant period's income statement and matches them as
closely as possible
CF makes no difference whatsoever - IS where sale happens
=> How do you decide when sale happens? RECOGNIZE REV UPON
DELIVERY OF GOOD/SERVICE PERFORMED
Why are profits and cash flow not the same thing? - 🧠 ANSWER ✔✔Accounting
differences
The idea of matching over time - 🧠 ANSWER ✔✔
CFS Accounting - 🧠 ANSWER ✔✔Only records transactions when cash is
received
COPYRIGHT©NINJANERD 2025/2026. YEAR PUBLISHED 2025. COMPANY REGISTRATION NUMBER: 619652435.
TERMS OF USE. PRIVACY STATEMENT. ALL RIGHTS RESERVED 1
,VS
IS records ALL revenues earned, whether in cash or accrued
Cash accounting method - 🧠 ANSWER ✔✔record income and expenditures at the
time the money changes hands
Cash accounting method - 🧠 ANSWER ✔✔An accounting method in which
income and expenditures are recorded at the time the money changes hands.
Accrual Accounting - 🧠 ANSWER ✔✔recording in each fiscal period applicable
expenses, whether paid or not, and income earned, whether collected or not.
Accrual Basis Accounting - 🧠 ANSWER ✔✔reporting income when it is earned
and expenses when they are incurred
Accrual Basis Accounting - 🧠 ANSWER ✔✔the method of accounting that
recognizes revenue when it is earned and matches expenses to the revenues they
helped produce
Accrual Basis Accounting - 🧠 ANSWER ✔✔Accounting basis in which companies
record, in the periods in which the events occur, transactions that change a
company's financial statements, even if cash was not exchanged.
COPYRIGHT©NINJANERD 2025/2026. YEAR PUBLISHED 2025. COMPANY REGISTRATION NUMBER: 619652435.
TERMS OF USE. PRIVACY STATEMENT. ALL RIGHTS RESERVED 2
,accrued expenses - 🧠 ANSWER ✔✔expenses incurred in one fiscal period but not
paid until a later fiscal period
accrued expenses - 🧠 ANSWER ✔✔expenses incurred but not yet paid in cash or
recorded
Cash flow from operating activities - 🧠 ANSWER ✔✔The net amount of cash
provided from operating activities.
cash flow from financing activities - 🧠 ANSWER ✔✔
The idea of matching over time - 🧠 ANSWER ✔✔
CFS Accounting - 🧠 ANSWER ✔✔Only records transactions when cash is
received
VS
IS records ALL revenues earned, whether in cash or accrued
Cash accounting method - 🧠 ANSWER ✔✔record income and expenditures at the
time the money changes hands
Cash accounting method - 🧠 ANSWER ✔✔An accounting method in which
income and expenditures are recorded at the time the money changes hands.
COPYRIGHT©NINJANERD 2025/2026. YEAR PUBLISHED 2025. COMPANY REGISTRATION NUMBER: 619652435.
TERMS OF USE. PRIVACY STATEMENT. ALL RIGHTS RESERVED 3
, Accrual Accounting - 🧠 ANSWER ✔✔recording in each fiscal period applicable
expenses, whether paid or not, and income earned, whether collected or not.
Accrual Basis Accounting - 🧠 ANSWER ✔✔reporting income when it is earned
and expenses when they are incurred
Accrual Basis Accounting - 🧠 ANSWER ✔✔the method of accounting that
recognizes revenue when it is earned and matches expenses to the revenues they
helped produce
Accrual Basis Accounting - 🧠 ANSWER ✔✔Accounting basis in which companies
record, in the periods in which the events occur, transactions that change a
company's financial statements, even if cash was not exchanged.
accrued expenses - 🧠 ANSWER ✔✔expenses incurred in one fiscal period but not
paid until a later fiscal period
accrued expenses - 🧠 ANSWER ✔✔expenses incurred but not yet paid in cash or
recorded
Cash flow from operating activities - 🧠 ANSWER ✔✔The net amount of cash
provided from operating activities.
COPYRIGHT©NINJANERD 2025/2026. YEAR PUBLISHED 2025. COMPANY REGISTRATION NUMBER: 619652435.
TERMS OF USE. PRIVACY STATEMENT. ALL RIGHTS RESERVED 4
