Edmonds 8e TB Ch 13 Revised

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1、Chapter13FinancialStatementAnalysisAnswerKeyMultipleChoiceQuestions1.Factor(s)involvedincommunicatingusefulinformationis(are):A.AttributesoftheusersB.PurposeforwhichtheinformationwillbeusedC.ProcessbywhichtheinformationisanalyzedD.Alloftheseanswersarecorrect.Answer:DLearningObject

2、ive:13-01Differentiatebetweenhorizontalandverticalanalysis.Topic:TheUsersTopic:TheTypesofDecisionsTopic:MethodsofAnalysisBlooms:RememberAACSB:KnowledgeApplicationAICPA:BBIndustryAICPA:FNMeasurementDifficulty:1Easy2.Currentfinancialreportingstandardsassumethatusersofaccountinginfor

3、mation:A.Haveanexpert'sunderstandingofeconomicandfinancialeventsandconditions.B.Haveareasonablyinformedknowledgeofbusiness.C.Havewidelydifferinglevelsofknowledgeaboutbusiness,andthatfinancialreportingmustmeetthesedifferingneeds.D.Haveonlyminimalknowledgeofbusiness.Answer:BLearning

4、Objective:13-01Differentiatebetweenhorizontalandverticalanalysis.Topic:TheUsersBlooms:Remember13-1Copyright©2017McGraw-HillEducation.Allrightsreserved.NoreproductionordistributionwithoutthepriorwrittenconsentofMcGraw-HillEducation.AACSB:KnowledgeApplicationAICPA:BBIndustryAICPA:FN

5、MeasurementDifficulty:1Easy3.Whichofthefollowingstatementsregardingtheinformationdisclosedinfinancialstatementsisincorrect?A.Thecostsofprovidingallpossibleinformationaboutafirmwouldbeprohibitivelyhighforthebusiness.B.Someinformationdisclosedinfinancialstatementsmaybeirrelevanttoso

6、meusers.C.Financialstatementsshouldbedetailedenoughtoansweranyfinancial-relatedquestionaninvestormighthave.D.Whentoomuchinformationispresentedusersmaysufferfrominformationoverload.Answer:CLearningObjective:13-01Differentiatebetweenhorizontalandverticalanalysis.Topic:TheTypesofDeci

7、sionsBlooms:RememberAACSB:KnowledgeApplicationAICPA:BBIndustryAICPA:FNMeasurementDifficulty:1EasyFeedback:Financialstatementscanprovideonlyhighlysummarizedeconomicinformation.Thecoststoacompanyofprovidingexcessivelydetailedinformationwouldbeprohibitive.4.Commonmethodsoffinancialst

8、atementanalysisincludeallofthefol