Tiêu đề Bài kiểm tra cuối môn FSA - Lv1.docx.pdf ✅

Q8 Deferred tax liabilities result when: 1. taxable income in a period is less than reported financial statement income before taxes. 2. items of expense are included in financial statement income in earlier periods than those for which taxable income is reported. 3. straight-line depreciation methods are used for tax purposes and accelerated methods are employed for financial statement purposes Q9 The company’s financial leverage is closest to: A. 1.7. B. 2.2. C. 1.2. Q10 If a company issues shares in exchange for a capital asset, the transaction is most likely reported as: 1. supplementary information to the cash flow statement. 2. a financing inflow and an investing outflow in the cash flow statement. 3. an investing inflow and outflow in the cash flow statement. Q11 Which of the following is the most likely reason for an analyst to choose the direct method rather than the indirect method for analyzing a firm’s operating cash flows? 1. To understand the relationship between net income and operating cash flows 2. To identify operating cash flows by source and by use 3. To avoid making adjustments for non-cash items Q12 The following financial statement data are available for a company: The company’s cash return on assets ratio is closest to: 1. 12%. 2. 10%. 3. 13%. Q13 All else being equal, a decrease in which of the following financial metrics would most likely result in a lower return on equity (ROE)? 1. The tax rate 2. Leverage

additional processing, however, the batch could be sold for $11,000. The value of the unsold inventory, on the balance sheet of a company using International Financial Reporting Standards (IFRS), is closest to: 1. $9,000. 2. $8,000. C. $11,000. Q18 The following information is available for an asset purchased at the start of its first year of operations (Year 1): • Purchase price: $1.8 million • Estimated useful life: 5 years • Estimated residual value: $500,000 If the company uses the double declining balance method of depreciation, the depreciation expense in Year 3 will be closest to: 1. $187,200. 2. $259,200. C. $148,000. Q19 The following information is available for a company that prepares its financial statements in accordance with US GAAP: • It has production facilities with a net book value of $28.4 million. • Recently, several other companies have entered the market, and the company now estimates that it will be able to generate cash flows of only $3 million per year for the next seven years with its facilities. • The firm has a cost of capital of 10%. Reflecting these recent events related to its production facilities, the company’s financial statements will most likely report (in millions) a: 1. $13.8 impairment loss on the income statement. 2. $7.4 reduction in the balance sheet carrying amount. C. $13.8 reduction in operating cash flows. Q20 A technology company, reporting under US GAAP, has three classes of intangible assets. The table below shows information on each of the three classes: Based on the data provided, the intangible asset that has the largest absolute impairment charge for the period ended 31 December 31 2020, is: 1. computer software. 2. licenses. 3. goodwill. Q21 If a company has a deferred tax asset reported on its statement of financial position and the tax authorities reduce the tax rate, which of the following statements is most accurate concerning the effect of the change? The existing deferred tax asset will: 1. not be affected. 2. increase in value. 3. decrease in value