CFA Level 1 － 模考试题(1)(AM) Q56-60 normal, 考试题, style, class, green

sunlimei

 

 

 

Question 56

The IASB states that the role of financial reporting is: “…to provide information about the financial position (and) performance…that is useful to a wide range of users…” Which of the following financial statements would best provide information about a firm’s “performance,” as used here?

A)    Balance sheet.

B)   Income statement.

C)   Cash flow statement.

D)   Statement of changes in owners' equity.

 

 

 

Question 57

Bluff, Inc.’s stock transactions during the year were as follows:

• January 1                      90,000 common shares outstanding.
      

• April 1                           20% stock dividend is declared and issued.
      

• October 1                     10,000 shares are reacquired as treasury stock.
      

What is Bluff’s weighted average number of shares outstanding during the year?

A)    98,000.

B)   101,000.

C)   105,500.

D)   103,333.

 

 

 

Question 58

Carolina Company has options outstanding for 100,000 shares that will be exercisable by the option holders in two years. The exercise price is $40 per share. The market price of Carolina shares was $30 on December 31 and averaged $32 during the year. Carolina’s dilutive earnings per share calculation should:

A)    not include the options because they are antidilutive.

B)   include the options because they could dilute earnings.

C)   not include the options because they cannot be exercised yet.

D)   include the options because the shares declined in price during the year.

 

 

 

Question 59

During periods of rising prices and stable inventories, the first-in, first-out (FIFO) method of accounting for inventory results in the following effects on COGS, taxes and working capital:

COGS Taxes Working Capital

A)    lower     lower     lower

B)   lower     higher   higher

C)   higher    lower     higher

D)   higher    higher   higher

 

 

 

Question 60

Kapustin Inc. increased its valuation allowance on certain deferred tax assets between 20X6 and 20X7. It also recognized a tax loss carryforward on its financial statements in 20X7; it did not recognized any in 20X6. Which of the following pairs shows the correct effect on Kapustin’s reported earnings in 20X7 as a result of these two transactions?

       Valuation allowance Tax loss carryforward

A)    Decrease    Decrease

B)   Increase      Increase

C)   Decrease    Increase

D)   Increase      Decrease

 

 

 

[此贴子已经被作者于2008-11-7 17:59:39编辑过]

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