test bank for finance applications and theory 5th edition by cornett

,DOWNLOADgTHEgTestgBankgforgFinancegApplicationsgandgTheoryg5thgEditiongCorn
ett


Finance,g5eg(Cornett)
Chapterg2 ReviewinggFinancialgStatements

1) Whichgfinancialgstatementgreportsgagfirm'sgassets,gliabilities,gandgequitygatgagparticulargpointgi
ngtime?
A) balancegsheet
B) incomegstatement
C) statementgofgretainedgearnings
D) statementgofgcashgflows

Answer:g AgDifficulty
:g1gEasygTopic:g Bala
ncegsheetgBloom's:g g
Understand
AACSB:g ReflectivegThinkinggAccessi
bility:g KeyboardgNavigation
LearninggGoal:g 02-
01gRecallgthegmajorgfinancialgstatementsgthatgfirmsgmustgpreparegandgprovide.

2) Whichgfinancialgstatementgshowsgthegtotalgrevenuesgthatgagfirmgearnsgandgthegtotalgexpensesgth
egfirmgincursgtoggenerategthosegrevenuesgovergagspecificgperiodgofgtime–generallygonegyear?
A) balancegsheet
B) incomegstatement
C) statementgofgretainedgearnings
D) statementgofgcashgflows

Answer:g BgDifficult
y:g1gEasy
Topic:g IncomegstatementgBlo
om's:g UnderstandgAACSB:g
ReflectivegThinking
Accessibility:g g KeyboardgNavigation
LearninggGoal:g 02-
01gRecallgthegmajorgfinancialgstatementsgthatgfirmsgmustgpreparegandgprovide.




1
Copyrightg2020g©gMcGraw-
HillgEducation.gAllgrightsgreserved.gNogreproductiongorgdistributiongwithoutgthegpriorgwrittengconsentgofgMcGr
aw-HillgEducation.
mynursytest.store

,DOWNLOADgTHEgTestgBankgforgFinancegApplicationsgandgTheoryg5thgEditiongCorn
ett


3) Whichgfinancialgstatementgreportsgthegamountsgofgcashgthatgthegfirmggeneratedgandgdistribute
dgduringgagparticulargtimegperiod?
A) balancegsheet
B) incomegstatement
C) statementgofgretainedgearnings
D) statementgofgcashgflows

Answer:g DgDifficult
y:g1gEasy
Topic:g StatementgofgcashgflowsgBloom
's:g Understand
AACSB:g ReflectivegThinkinggAccessi
bility:g KeyboardgNavigation
LearninggGoal:g 02-
01gRecallgthegmajorgfinancialgstatementsgthatgfirmsgmustgpreparegandgprovide.

4) Whichgfinancialgstatementgreconcilesgnetgincomegearnedgduringgaggivengperiodgandganygcas
hgdividendsgpaidgwithingthatgperiodgusinggthegchangegingretainedgearningsgbetweengthegbeginn
inggandgendgofgthegperiod?
A) balancegsheet
B) incomegstatement
C) statementgofgretainedgearnings
D) statementgofgcashgflows

Answer:g CgDifficult
y:g1gEasy
Topic:g Statementgofgretainedgearningsg
Bloom's:g Understand
AACSB:g ReflectivegThinkinggAccessi
bility:g KeyboardgNavigation
LearninggGoal:g 02-
01gRecallgthegmajorgfinancialgstatementsgthatgfirmsgmustgpreparegandgprovide.




2
Copyrightg2020g©gMcGraw-
HillgEducation.gAllgrightsgreserved.gNogreproductiongorgdistributiongwithoutgthegpriorgwrittengconsentgofgMcGr
aw-HillgEducation.
mynursytest.store

, DOWNLOADgTHEgTestgBankgforgFinancegApplicationsgandgTheoryg5thgEditiongCorn
ett


5) Ongwhichgofgthegfourgmajorgfinancialgstatementsgwouldgyougfindgthegcommongstockgandgpaid-
ingsurplus?
A) balancegsheet
B) incomegstatement
C) statementgofgcashgflows
D) statementgofgretainedgearnings

Answer:g AgDifficulty
:g1gEasygTopic:g Bala
ncegsheetgBloom's:g g
Understand
AACSB:g ReflectivegThinkinggAccessi
bility:g KeyboardgNavigation
LearninggGoal:g 02-
01gRecallgthegmajorgfinancialgstatementsgthatgfirmsgmustgpreparegandgprovide.

6) Ongwhichgofgthegfourgmajorgfinancialgstatementsgwouldgyougfindgthegincreaseginginventory?
A) balancegsheet
B) incomegstatement
C) statementgofgcashgflows
D) statementgofgretainedgearnings

Answer:g CgDifficult
y:g1gEasy
Topic:g StatementgofgcashgflowsgBloom
's:g Understand
AACSB:g ReflectivegThinkinggAccessi
bility:g KeyboardgNavigation
LearninggGoal:g 02-
01gRecallgthegmajorgfinancialgstatementsgthatgfirmsgmustgpreparegandgprovide.

7) Ongwhichgofgthegfourgmajorgfinancialgstatementsgwouldgyougfindgnetgplantgandgequipment?
A) balancegsheet
B) incomegstatement
C) statementgofgcashgflows
D) statementgofgretainedgearnings

Answer:g AgDifficulty
:g1gEasygTopic:g Bala
ncegsheetgBloom's:g g
Understand
AACSB:g ReflectivegThinkinggAccessi
bility:g KeyboardgNavigation
LearninggGoal:g 02-
01gRecallgthegmajorgfinancialgstatementsgthatgfirmsgmustgpreparegandgprovide.


3
Copyrightg2020g©gMcGraw-
HillgEducation.gAllgrightsgreserved.gNogreproductiongorgdistributiongwithoutgthegpriorgwrittengconsentgofgMcGr
aw-HillgEducation.
mynursytest.store