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When calculating diluted EPS, which of the following securities in the capital structure increases the weighted average number of common shares outstanding without affecting net income available to common shareholders?
AStock options
BConvertible debt that is dilutive
CConvertible preferred stock that is dilutive
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Which of the following is most likely classified as a current liability?
APayment received for a product due to be delivered at least one year after the balance sheet date
BPayments for merchandise due at least one year after the balance sheet date but still within a normal operating cycle
CPayment on debt due in six months for which the company has the unconditional right to defer settlement for at least one year after the balance sheet date
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A company recently engaged in a non-cash transaction that significantly affected its property, plant, and equipment. The transaction is:
Areported under the investing section of the cash flow statement.
Breported differently in cash flow from operations under the direct and indirect methods.
Cdisclosed as a separate note or in a supplementary schedule to the cash flow statement.
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Purple Fleur S.A., a retailer of floral products, reported cost of goods sold for the year of $75 million. Total assets increased by $55 million, but inventory declined by $6 million. Total liabilities increased by $45 million, and accounts payable increased by $2 million. The cash paid by the company to its suppliers is most likely closest to:
A$67 million.
B$79 million.
C$83 million.
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An analyst gathered the following information from a company’s 2010 financial statements (in $ millions):
Based only on the information above, the company’s 2010 statement of cash flows in the direct format would include amounts (in $ millions) for cash received from customers and cash paid to suppliers, respectively, that are closest to:Acash received from customers 249.7 cash paid to suppliers 169.7
Bcash received from customers 259.5 cash paid to suppliers 174.5
Ccash received from customers 259.5 cash paid to suppliers 182.1
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An analyst is interested in assessing both the efficiency and liquidity of Spherion PLC. The analyst has collected the following data for Spherion:
Based on this data, what is the analyst least likely to conclude?
AInventory management has contributed to improved liquidity.
BManagement of payables has contributed to improved liquidity.
CManagement of receivables has contributed to improved liquidity.
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An analyst is evaluating the solvency and liquidity of Apex Manufacturing and has collected the following data (in millions of euro):
Which of the following would be the analyst’s most likely conclusion?
AThe company is becoming increasingly less solvent, as evidenced by the increase in its debt-to-equity ratio from 0.35 to 0.50 from FY3 to FY5.
BThe company is becoming less liquid, as evidenced by the increase in its debt-to-equity ratio from 0.35 to 0.50 from FY3 to FY5.
CThe company is becoming increasingly more liquid, as evidenced by the increase in its debt-to-equity ratio from 0.35 to 0.50 from FY3 to FY5.
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An analyst observes a decrease in a company’s inventory turnover. Which of the following would most likely explain this trend?
AThe company installed a new inventory management system, allowing more efficient inventory management.
BDue to problems with obsolescent inventory last year, the company wrote off a large amount of its inventory at the beginning of the period.
CThe company installed a new inventory management system but experienced some operational difficulties resulting in duplicate orders being placed with suppliers.
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For a nonfinancial firm, are depreciation expense and interest expense includ or excluded from operating expenses in the income statement?
ADepreciation expense Interest expenseIncluded Included
BDepreciation expense Interest expenseIncluded Excluded
CDepreciation expense Interest expenseExcluded Included
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Which of the following statements about nonrecurring items is least accurate?
ADiscontinued operations are reported net of taxes at the bottom of the income statement before net income.
BUnusual or infrequent items are reported before taxes above net income from continuing operations.
CA change in accounting principle is reported in the income statement net of taxes after extraordinary items and before net income.
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Using the following information, what is the firm’s cash flow from operations? Net income $120 Decrease in accounts receivable 20 Depreciation 25 Increase in inventory 10 Increase in accounts payable 7 Decrease in wages payable 5 Increase in deferred tax liabilities 15 Profit from the sale of land 2
A$158.00
B$170.00
C$174
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If RGB, Inc. has annual sales of $100,000, average accounts payable of $30,000,and average accounts receivable of $25,000, RGB’s receivables turnover andaverage collection period are closest to:
AReceivables turnove 2.1 times Average collection period 174 days
BReceivables turnove 3.3 times Average collection period 111 days
CReceivables turnove 4.0times Average collection period 91days
The amount of cash Sweetfall Inc. paid to suppliers is: