CFIN /
Chapter
/ //
2 Exam Questions With Correct Answers
// // // // //
Financial //Statements/Reports //are //used //to: //- //verified //answer(s)-
✔✔used /
/to /
/disclose /
/information /
/about /
/the /
/firm /
/to /
/investors, /
/creditors, /
/governments, /
/and /
/other /
/interested /
/parties; /
/information /
/about /
/the /
/firm /
/is /
/used /
/to /
/determine /
/what /
/has /
/been /
/accomplished //in //the //past //and //forecast //what //is //likely //to //be //accomplished //in //the //future
,Annual //Report //- //verified //answer(s)-
✔✔a /
/general /
/discussion /
/about /
/the /
/firm's /
/activities /
/during /
/the /
/past /
/year //as //well //as //developments //that //are //expected //to //be //implemented //in //the //near //future
the /
/financial //statements //of //the //firm //for //the //most //recent //years //(the //year //just //ended //and //up
//to //four //or //five //previous //years)
Balance //Sheet //- //verified //answer(s)-
✔✔records /
/the /
/financial /
/position /
/of /
/the /
/firm /
/at //
a/
/particular /
/point /
/in /
/time /
/by /
/showing //the //assets //(investments) //and //the //liabilities //and //equity //(financing) //of //the //firm
Balance //sheet //components //- //verified //answer(s)-✔✔Cash //versus //other //assets
, Liabilities //versus //stockholders' //equity
Preferred //versus //common //stock
Common //equity //account
cash //(Balance //Sheet) //- //verified //answer(s)-
✔✔on //the //assets //side //of //the //balance //sheet, //only //____ //represents
actual /
/funds /
/that /
/can /
/be /
/invested; /
/the /
/other /
/assets /
/represent /
/investments /
/made /
/in /
/the /
/past /
/that /
/are //expected //generate //(or //help //generate) //funds //in //the //future //(some //sooner //than //others
—/
/that /
/is, /
/current /
/assets); /
/the /
/values /
/reported /
/on /
/the /
/balance /
/sheet /
/do /
Chapter
/ //
2 Exam Questions With Correct Answers
// // // // //
Financial //Statements/Reports //are //used //to: //- //verified //answer(s)-
✔✔used /
/to /
/disclose /
/information /
/about /
/the /
/firm /
/to /
/investors, /
/creditors, /
/governments, /
/and /
/other /
/interested /
/parties; /
/information /
/about /
/the /
/firm /
/is /
/used /
/to /
/determine /
/what /
/has /
/been /
/accomplished //in //the //past //and //forecast //what //is //likely //to //be //accomplished //in //the //future
,Annual //Report //- //verified //answer(s)-
✔✔a /
/general /
/discussion /
/about /
/the /
/firm's /
/activities /
/during /
/the /
/past /
/year //as //well //as //developments //that //are //expected //to //be //implemented //in //the //near //future
the /
/financial //statements //of //the //firm //for //the //most //recent //years //(the //year //just //ended //and //up
//to //four //or //five //previous //years)
Balance //Sheet //- //verified //answer(s)-
✔✔records /
/the /
/financial /
/position /
/of /
/the /
/firm /
/at //
a/
/particular /
/point /
/in /
/time /
/by /
/showing //the //assets //(investments) //and //the //liabilities //and //equity //(financing) //of //the //firm
Balance //sheet //components //- //verified //answer(s)-✔✔Cash //versus //other //assets
, Liabilities //versus //stockholders' //equity
Preferred //versus //common //stock
Common //equity //account
cash //(Balance //Sheet) //- //verified //answer(s)-
✔✔on //the //assets //side //of //the //balance //sheet, //only //____ //represents
actual /
/funds /
/that /
/can /
/be /
/invested; /
/the /
/other /
/assets /
/represent /
/investments /
/made /
/in /
/the /
/past /
/that /
/are //expected //generate //(or //help //generate) //funds //in //the //future //(some //sooner //than //others
—/
/that /
/is, /
/current /
/assets); /
/the /
/values /
/reported /
/on /
/the /
/balance /
/sheet /
/do /
