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Exam 14: Financial Statement Analysis

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Question 101

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If the accounts receivable turnover for the current year has decreased when compared with the ratio for the preceding year, there has been an acceleration in the collection of receivables.

A) True
B) False

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Question 102

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In computing the rate earned on total assets, interest expense is subtracted from net income before dividing by average total assets.

A) True
B) False

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Question 103

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Based on the above data, what is the quick ratio, rounded to one decimal point?

The excess of current assets over current liabilities is referred to as working capital.

Bradenton Company reports the following for 2012:

Short-term creditors are typically most interested in assessing

Which of the following below generally is the most useful in analyzing companies of different sizes

Interpreting financial analysis should be considered in light of conditions peculiar to the industry and the general economic conditions.

In horizontal analysis, the current year is the base year.

Reporting unusual items separately on the income statement allows investors to isolate the effects of these items on income and cash flows.

A company reports the following: Determine the company's earnings per share on common stock.

A financial statement showing each item on the statement as a percentage of one key item on the statement is called common-sized financial statements.

From the following data for Norton Company for the year ended December 31, 2012 prepare a multiple-step income statement. Show parenthetically earnings per share for the following: income from continuing operations, loss on discontinued operations (less applicable income tax), income before extraordinary item, extraordinary item (less applicable income tax), and net income.