FinancialStatementAnalysisPlanningandGrowth.docx
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FinancialStatementAnalysisPlanningandGrowth.docx
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FinancialStatementAnalysisPlanningandGrowth
CHAPTER16
FinancialStatementAnalysis,Planning,andGrowthMultipleChoiceQuestions:
I.DEFINITIONS
COMMON-SIZESTATEMENTS
1.A_____standardizesitemsontheincomestatementandbalancesheetasapercentage
oftotalsalesandtotalassets,respectively.
a.taxreconciliationstatement
b.statementofstandardization
c.statementofcashflows
d.common-baseyearstatement
e.common-sizestatement
FINANCIALRATIOS
2.Relationshipsdeterminedfromafirm’sfinancialinformationandusedforcomparison
purposesareknownas:
a.financialratios.
b.comparisonstatements.
c.dimensionalanalysis.
d.scenarioanalysis.
e.solvencyanalysis.
CURRENTRATIO
3.Thecurrentratioismeasuredas:
a.currentassetsminuscurrentliabilities.
b.currentassetsdividedbycurrentliabilities.
c.currentliabilitiesminusinventory,dividedbycurrentassets.
d.cashonhanddividedbycurrentliabilities.
e.currentliabilitiesdividedbycurrentassets.
QUICKRATIO
4.Thequickratioismeasuredas:
a.currentassetsdividedbycurrentliabilities.
b.cashonhandpluscurrentliabilities,dividedbycurrentassets.
c.currentliabilitiesdividedbycurrentassets,plusinventory.
d.currentassetsminusinventory,dividedbycurrentliabilities.
e.currentassetsminusinventoryminuscurrentliabilities.
CASHRATIO
5.Thecashratioismeasuredas:
a.currentassetsdividedbycurrentliabilities.
b.currentassetsminuscashonhand,dividedbycurrentliabilities.
c.currentliabilitiespluscurrentassets,dividedbycashonhan
d.
d.cashonhandplusinventory,dividedbycurrentliabilities.
e.cashonhanddividedbycurrentliabilities.
LONG-TERMSOLVENCYRATIOS
b6.Ratiosthatmeasureafirm’sfinancialleverageareknownas_____ratios.
a.assetmanagement
b.long-termsolvency
c.short-termsolvency
d.profitability
e.marketvalue
TOTALDEBTRATIO
7Thefinancialratiomeasuredastotalassetsminustotalequity,dividedbytotalassets,is
the:
a.totaldebtratio.
b.equitymultiplier.
c.debt-equityratio.
d.currentratio.
e.timesinterestearnedratio.
TIMESINTERESTEARNEDRATIO
8.Thefinancialratiomeasuredasearningsbeforeinterestandtaxes,dividedbyinterest
expenseisthe:
a.cashcoverageratio.
b.debt-equityratio.
c.timesinterestearnedratio.
d.grossmargin.
e.totaldebtratio.
ASSETMANAGEMENTRATIOS
a9.Ratiosthatmeasurehowefficientlyafirmusesitsassetstogeneratesalesareknownas
_____ratios.
a.assetmanagement
b.long-termsolvency
c.short-termsolvency
d.profitability
e.marketvalue
INVENTORYTURNOVER
10.Theinventoryturnoverratioismeasuredas:
a.totalsalesminusinventory.
b.inventorytimestotalsales.
c.costofgoodssolddividedbyinventory.
d.inventorytimescostofgoodssold.
e.inventorypluscostofgoodssold.
RECEIVABLESTURNOVER
b11.Thereceivablesturnoverratioismeasuredas:
a.salesplusaccountsreceivable.
b.salesdividedbyaccountsreceivable.
c.salesminusaccountsreceivable,dividedbysales.
d.accountsreceivabletimessales.
e.accountsreceivabledividedbysales.
TOTALASSETTURNOVER
12.Thetotalassetturnoverratioismeasuredas:
a.salesminustotalassets.
b.salesdividedbytotalassets.
c.salestimestotalassets.
d.totalassetsdividedbysales.
e.totalassetsplussales.
PROFITABILITYRATIOS
d13.Ratiosthatmeasur
ehowefficientlyafirm’smanagementusesitsassetsandequityto
generatebottomlinenetincomeareknownas_____ratios.
a.assetmanagement
b.long-termsolvency
c.short-termsolvency
d.profitability
e.marketvalue
PROFITMARGIN
14.Thefinancialratiomeasuredasnetincomedividedbysalesisknownasthefirm’s:
a.profitmargin.
b.returnonassets.
c.returnonequity.
d.assetturnover.
e.earningsbeforeinterestandtaxes.
RETURNONASSETS
15.Thefinancialratiomeasuredasnetincomedividedbytotalassetsisknownasthe
firm’s:
a.profitmargin.
b.returnonassets.
c.returnonequity.
d.assetturnover.
e.earningsbeforeinterestandtaxes.
RETURNONEQUITY
16.Thefinancialratiomeasuredasnetincomedividedbytotalequityisknownasthe
firm’s:
a.profitmargin.
b.returnonassets.
c.returnonequity.
d.assetturnover.
e.earningsbeforeinterestandtaxes.
DUPONTIDENTITY
a17.The_____breaksdownreturnonequityintothreecomponentparts.
a.DuPontidentity
b.returnonassets
c.statementofcashflows
d.assetturnoverratio
e.equitymultiplier
COMMON-SIZEBALANCESHEET
18.Onacommon-sizebalancesheet,all_____accountsareshownasapercentageof:
a.income;totalassets.
b.liability;netincome.
c.asset;sales.
d.liability;totalassets.
e.equity;sales.
RATIOANALYSIS
a19.Whichoneofthefollowingstatementsiscorrectconcerningratioanalysis?
a.Asingleratioisoftencomputeddifferentlybydifferentindividuals.
b.Ratiosdonotaddresstheproblemofsizedifferencesamongfirms.
c.Thereisonlyaverylimitednumberofratioswhichcanbeusedforanalyticalpurposes.
d.Eachratiohasaspecificformulathatisusedconsistentlybyallanalysts.
e.Ratioscannotbeusedforcomparisonpurposesoverperiodsoftime.
LIQUIDITYRATIOS
20.Whichofthefollowingareliquidityratios?
I.cashcoverageratio
II.currentratio
III.quickratio
IV.inventoryturnover
a.IIandIIIonly
b.IandIIonly
c.II,III,andIVonly
d.I,III,andIVonly
e.I,II,III,andIV
LIQUIDITYRATIOS
21.Anincreaseinwhichoneofthefollowingaccountsincreasesafirm’scurrentratio
withoutaffectingitsquickratio?
a.accountspayable
b.cash
c.inventory
d.accountsreceivable
e.fixedassets
LONG-TERMSOLVENCYRATIOS
22.Afirmhasatotaldebtratioof.47.Thismeansthatthatfirmhas47centsindebtfor
every:
a.$1inequity.
b.$1intotalsales.
c.$1incurrentassets.
d.$.53inequity.
e.$.53intotalassets.
LONG-TERMSOLVENCYRATIOS
23.Abankerconsideringloaningafirmmoneyfortenyearswouldmostlikelypreferthe
firmhaveadebtratioof_____andatimesinterestearnedratioof_____.
a..75;.75.
b..50;1.00.
c..45;1.75.
d..40;2.50.
e..35;3.00.
LONG-TERMSOLVENCYRATIOS
b24.Fromacashflowposition,whichoneofthefollowingratiosbestmeasuresafirm’s
abilitytopaytheinterestonitsdebts?
a.timesinterestearnedratio
b.cashcoverageratio
c.cashratio
d.quickratio
e.intervalmeasure
ASSETMANAGEMENTRATIOS
25.Thehighertheinventoryturnovermeasure,the:
a.fasterafirmsellsitsinventory.
b.fasterafirmcollectspaymentonitssales.
c.longerittakesafirmtosellitsinventory.
d.greatertheamountofinventoryheldbyafirm.
e.lessertheamountofinventoryheldbyafirm.
ASSETMANAGEMENTRATIOS
26.Atotalassetturnovermeasureof1.03meansthatafirmhas$1.03in:
a.totalassetsforevery$1incash.
b.totalassetsforevery$1intotaldebt.
c.totalassetsforevery$1inequity.
d.salesforevery$1intotalassets.
e.long-termassetsforevery$1inshort-termassets.
PROFITABILITYRATIOS
27.Puffy’sPastriesgeneratesfivecentsofnetincomeforevery$1insales.Thus,
Puffy’shasa_____of5percent.
a.returnonassets
b.returnonequity
c.profitmargin
d.DuPontmeasure
e.totalassetturnover
PROFITABILITYRATIOS
a28.Ifafirmproducesa10percentreturnonassetsandalsoa10percentreturnon
equity,thenthefirm:
a.hasnodebtofanykind.
b.isusingitsassetsasefficientlyaspossible.
c.hasnonetworkingcapital.
d.alsohasacurrentratioof10.
e.hasanequitymultiplierof2.
PROFITABILITYRATIOS
29.Ifshareholderswanttoknowhowmuchprofitafirmismakingontheirentire
investmentinthefirm,theshareholdersshouldlookatthe:
a.profitmargin.
b.returnonassets.
c.returnonequity.
d.equitymultiplier.
e.earningspershare.
COMMON-SIZESTATEMENTS
b30.Afirmhassalesof$1,200,netincomeof$200,netfixedassetsof$500,andcurrent
assetsof$300.Thefirmhas$100ininventory.Whatisthecommon-sizestatement
valueofinventory?
a.8.3percent
b.12.5percent
c.20.0percent
d.33.3percent
e.50.0percent
COMMON-SIZESTATEMENTS
a31.Afirmhassalesof$1,500,netincomeof$100,totalassetsof$1,000,andtotalequity
of$700.Interestexpenseis$50.Whatisthecommon-sizestatementvalueofthe
interestexpense?
a.3.3percent
b.5.0percent
c.7.1percent
d.16.7percent
e.50.0percent
LIQUIDITYRATIOS
b32.Jessica’sBoutiquehascashof$50,accountsreceivableof$60,accountspayableof
$200,andinventoryof$150.Whatisthevalueofthequickratio?
a..30
b..55
c..77
d.1.30
e.1.82
LONG-TERMSOLVENCYRATIOS
a33.Afirmhasadebt-equityratioof.40.Whatisthetotaldebtratio?
a..29
b..33
c..67
d.1.40
e.1.50
LONG-TERMSOLVENCYRATIOS
e34.Afirmhastotaldebto
f$1,200andadebt-equityratioof.30.Whatisthevalueofthe
totalassets?
a.$1,560
b.$3,000
c.$3,600
d.$4,000
e.$5,200
LONG-TERMSOLVENCYRATIOS
d35.Rosita’sResourcespaid$250ininterestand$130individendslastyear.Th
etimes
interestearnedratiois3.8andthedepreciationexpenseis$60.Whatisthevalueofthe
cashcoverageratio?
a.2.40
b.3.52
c.3.80
d.4.04
e.4.28
PROFITABILITYRATIOS
b36Rosita’sRestaurantehassalesof$4,500,totaldebtof$1,300,totalequityof$2,400,
andaprofitmarginof5percent.Whatisthe
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