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Hala Arrabi Managerial Finance Assignment Chapter 3-Part 1 Multiple Choice Questions

This document contains a 14 question multiple choice quiz on financial accounting concepts like the definition of assets, liabilities, net profits, and the key financial statements. It reviews topics covered in Chapter 3 of a managerial finance textbook, including defining terms like gross profits, operating profits, earnings before interest and taxes, and identifying examples of current assets, fixed assets, and current liabilities. The document provides the questions, possible answer choices, and a note of good luck at the end.

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Mohamad Haytham Elturk
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© © All Rights Reserved
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48 views

Hala Arrabi Managerial Finance Assignment Chapter 3-Part 1 Multiple Choice Questions

This document contains a 14 question multiple choice quiz on financial accounting concepts like the definition of assets, liabilities, net profits, and the key financial statements. It reviews topics covered in Chapter 3 of a managerial finance textbook, including defining terms like gross profits, operating profits, earnings before interest and taxes, and identifying examples of current assets, fixed assets, and current liabilities. The document provides the questions, possible answer choices, and a note of good luck at the end.

Uploaded by

Mohamad Haytham Elturk
Copyright
© © All Rights Reserved
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
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Hala Arrabi Managerial Finance

Assignment Chapter 3- Part 1

Multiple Choice Questions:


1- Total assets less net fixed assets equal:

A. Gross assets.
B. Current assets.
C. Depreciation.
D. Liabilities and equity.

2- The ________ provides a financial summary of the firm's operating results during a
specified period.

A. Income statement
B. Balance sheet
C. Statement of cash flows
D. Statement of retained earnings

3- Gross profits are defined as:

A. Operating profits minus depreciation.


B. Operating profits minus cost of goods sold.
C. Sales revenue minus operating expenses.
D. Sales revenue minus cost of goods sold.

4- Operating profits are defined as:

A. Gross profits minus operating expenses.


B. Sales revenue minus cost of goods sold.
C. Earnings before depreciation and taxes.
D. Sales revenue minus depreciation expense.

5- Net profits after taxes are defined as:

A. Gross profits minus operating expenses.


B. Sales revenue minus cost of goods sold.
C. EBIT minus interest.
D. EBIT minus interest and taxes.

N.B. (EBIT): earnings before interest and taxes


Hala Arrabi Managerial Finance

6- Operating profits are defined as:

A. Sales revenue minus cost of goods sold.


B. Earnings before interest and taxes.
C. Earnings before depreciation and taxes.
D. Earnings after tax.

7- Earnings available to common shareholders are defined as net profits:

A. After taxes.
B. After taxes minus preferred dividends.
C. After taxes minus common dividends.
D. Before taxes.

8- All of the following are examples of current assets EXCEPT:

A. Accounts receivable.
B. Cash.
C. Accruals.
D. Inventory.

9- All of the following are examples of fixed assets EXCEPT:

A. Automobiles.
B. Buildings.
C. Marketable securities.
D. Equipment.

10- All of the following are examples of current liabilities EXCEPT:

A. Accounts receivable.
B. Accounts payable.
C. Accruals.
D. Notes payable.

11- The net value of fixed assets is also called its:

A. Market value.
B. Par value.
C. Book value.
D. Price.
Hala Arrabi Managerial Finance

12- The ________ represents a summary statement of the firm's financial position at a
given point in time.

A. Income statement
B. Balance sheet
C. Statement of cash flows
D. Statement of retained earnings

13- The ________ summarizes the firm's funds flow over a given period of time.

A. Income statement
B. Balance sheet
C. Statement of cash flows
D. Statement of retained earnings

14- The statement of cash flows may also be called the:

A. Income statement.
B. Statement of retained earnings.
C. Bank statement.
D. Funds statement.

Good Luck !

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