2008 CFA Level 1 － Sample 样题(2)－Q28 2008, black, style

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28、Assume U.S. GAAP (generally accepted accounting principles) applies unless otherwise noted.
Which of the following trends may signal the beginning of a liquidity crisis for an entity?

A. An increase in trade debt.

B. A shift from operating debt to financing liabilities.

C. An increase in trade credit and decrease in retained earnings.

D. A shift from operating debt to increases in owners' contributed capital.

[此贴子已经被作者于2008-11-7 13:23:30编辑过]

bingning

28、Assume U.S. GAAP (generally accepted accounting principles) applies unless otherwise noted.
Which of the following trends may signal the beginning of a liquidity crisis for an entity?

A. An increase in trade debt.

B. A shift from operating debt to financing liabilities.

C. An increase in trade credit and decrease in retained earnings.

D. A shift from operating debt to increases in owners' contributed capital.

  
Correct answer = B

"Analysis of Financing Liabilities," Gerald I. White, Ashwinpaul C. Sondhi, and Dov Fried
2008 Modular Level I, Vol. 3, p. 465
Study Session 9-39-a
distinguish between operating and trade debt related to operating activities and debt generated by financing activities, and discuss the analytical implications of a shift between the two types of liabilities
A shift from operating debt to financing liabilities may indicate a company has reduced access to trade credit and may signal the beginning of a liquidity crisis. 

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