Title Ôn trắc nghiệm C1234.pdf ✅

Trang 1/20 CHƯƠNG 1: 1. Lemon problems arise in capital market when a. Managers are better informed about the value of their business ideas than investors. b. Managers have an incentive to understate the value of their business ideas. c. Managers are better informed about the value of their business ideas than investors, Managers have an incentive to understate the value of their business ideas, and Managers and investors have conflicting interests. d. Managers are better informed about the value of their business ideas than investors and Managers and investors have conflicting interests. 2. Consider the following statement: “In countries with a model of strong legal protection of investors’ rights, information intermediaries play a bigger role in preventing lemon problems than in countries with a model of weak legal protection of investors’ rights. The statement is a. True b. False 3. Mandatory publication of audited financial statements is an imperfect solution to incentive and information problems between managers and investors because a. Accounting profits are typically less informative about firm’s economic performance than cash flows. b. The accounting standards governing the preparation of such financial statements are typically too loosely defined. c. Managers unintendedly as well as strategically introduce noise into reported accounting performance through accounting decisions. d. None of the above. 4. Consider the following statement: “The extents to which financial statements accurately reflect the consequences of managers’ operating, investment and financing decisions is a function of characteristics of the accounting the environment and mangers’ accounting strategy. This statement is a. True b. False
Trang 2/20 5. Consider the following statement: “Accounting conventions and regulations that leave management no accounting discretion lead to more useful financial statements than accounting conventions and accounting regulations that do grant accounting discretion”. The statement is a. True b. False 6. Consider the following statement: “Financial reports of publicly listed firms are prepared using accrual accounting rather than cash accounting”. The statement is a. True b. False 7. Consider the following statement: “The outcomes of business strategy analysis affect the financial and prospective analyses but have no relevance for the accounting analysis”. The statement is a. True b. False 8. Which of the following statement is correct? a. The accounting analysis follows the financial analysis. b. The prospective analysis precedes the strategy analysis. c. The prospective analysis follows the financial analysis. d. The financial analysis precedes the strategy analysis. 9. The outcomes of the strategy analysis affect the accounting analysis because A. The strategy analysis also includes an analysis of the firm’s accounting strategy B. Firms with poor strategies are more likely to have low-quality financial statements than firms with successful strategies C. A firm’s industry and competitive strategy affect which accounting choices are appropriate. D. The firm’s accounting analysis also includes an analysis of the business strategy. 10. Two reasons for why financial statements tend to be less useful in the analysis of privately held businesses than in the analysis of publicly held businesses (within the EU) is that a. Private firm’s financial statements are strongly influenced by tax rules and managers of private firms have less incentive to prepare informative financial statements than managers of public firms.
Trang 3/20 b. Private firm’s financial statements do not comply with tax rules and are not publicly available. c. Private firm’s financial reporting is unregulated and financial statement are not publicly available. d. None of the above. CHƯƠNG 2: 1. The objective of accounting analysis is typically not to A. Identify accounting choices that are most critical to a firm’s accounting performance. B. Assess whether the financial statements fully comply with accounting conventions and regulations. C. Understand management’s reporting incentives and strategy. D. Undo the financial statements from distortions. 2. Which of the following items is required component of European public firms’ financial statements? A. A comprehensive income statement (or statement of total recognized income and expense) B. An income statement C. A cash flow statement (or statement of cash flows) D. A balance sheet (or statement of financial position) E. All items are required components 3. Consider the following statement: “An economic resource whose future benefits cannot be measured with a reasonable degree of certainty is not considered to be an asset for accounting purposes.” This statement is A. True B. False 4. Which of the following statements is correct? A. Revenues cannot be recognized before cash is collected. B. Expenses cannot be recognized before the cash outflow has occurred. C. Revenues cannot be recognized if cash collection is uncertain. D. Expenses will always be recognized before or when the cash outflow occurs.
Trang 4/20 5. Consider the following statement: “International Financial Reporting Standards (IFRS) are typically considered to be more principles-based than US Generally Accepted Accounting Principles (US GAAP).” This statement is A. True B. False 6. Consider the following statement: “The use of rules-based standards rather than principles-based standards decreases the verifiability of financial statements but increases the extent to which financial statements reflect the economic substance of a firm’s transaction.” This statement is A. True B. False 7. Which of following statement is not correct? A. The purpose of accounting analysis is to eliminate the distortion the degree to which a firm’s accounting captures its underlying business economics. B. The goal of financial analysis is to use financial data to evaluate the current and past performance of a firm and to assess its sustainability. C. The purpose of business strategy analysis is to identify key profit drivers and business risks, and to assess the company’s profit potential at a qualitative level. D. Prospective analysis, which focuses on forecasting a firm’s future, is the final step in business analysis. 8. Which of following statement is not correct? A. Assets are economic resources owned by a firm that are likely to produce future economic benefits and measurable with a reasonable degree of certainty. B. Liabilities are economic obligations of a firm arising from benefits received in the current that are required to be measurable and whose timing is reasonably well defined. C. Equity is the difference between a firm’s assets and its liabilities. D. Profit is the difference between a firm’s revenues and expenses in a time period. 9. Which of the following statements is true?