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Deck 14: Financial Statement Analysis
ملء الشاشة (f)
سؤال
سؤال
سؤال
A company reported the following amounts of net income:
Which of the following is the percentage change from Year 1 to Year 2?
A)150.00%
B)110.00%
C)40.00%
D)50.00%
Which of the following is the percentage change from Year 1 to Year 2?
A)150.00%
B)110.00%
C)40.00%
D)50.00%
سؤال
A company reported the following amounts of net income:
Which of the following is the percentage change from Year 2 to Year 3?
A)40.00%
B)50.00%
C)110.00%
D)150.00%
Which of the following is the percentage change from Year 2 to Year 3?
A)40.00%
B)50.00%
C)110.00%
D)150.00%
سؤال
سؤال
The Nichols Corporation data for the current year:
What would a horizontal analysis report with respect to net income before income tax expense and net income?
A)Both net income before tax expense and net income were 11.26% of net sales revenue.
B)Both net income before income tax expense and net income increased by $128,400.
C)The current ratio is 1:06.
D)There was an increase in both net income before income tax expense and net income of 14.00%.
What would a horizontal analysis report with respect to net income before income tax expense and net income?
A)Both net income before tax expense and net income were 11.26% of net sales revenue.
B)Both net income before income tax expense and net income increased by $128,400.
C)The current ratio is 1:06.
D)There was an increase in both net income before income tax expense and net income of 14.00%.
سؤال
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سؤال
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سؤال
The Nichols Corporation data for the current year:
What would a horizontal analysis report with respect to current liabilities?
A)Current liabilities saw a 30% increase from the prior year to the current year.
B)Current liabilities are 11.77% of total capital.
C)The current ratio is 1.06.
D)Current liabilities saw a 76.92% increase from the prior year to the current year.
What would a horizontal analysis report with respect to current liabilities?
A)Current liabilities saw a 30% increase from the prior year to the current year.
B)Current liabilities are 11.77% of total capital.
C)The current ratio is 1.06.
D)Current liabilities saw a 76.92% increase from the prior year to the current year.
سؤال
سؤال
سؤال
سؤال
سؤال
The McCumber Corporation data for the current year:
With respect to net sales revenue,what would a horizontal analysis report?
A)There was an increase of 20.00% in net sales revenue.
B)There is a sales return of $10.40.
C)The cost of goods sold is 77.37% of net sales revenue.
D)There is an accounts receivable turnover of 11.17 times.
With respect to net sales revenue,what would a horizontal analysis report?
A)There was an increase of 20.00% in net sales revenue.
B)There is a sales return of $10.40.
C)The cost of goods sold is 77.37% of net sales revenue.
D)There is an accounts receivable turnover of 11.17 times.
سؤال
Use the following information to do a horizontal analysis of Marcus Corporation's income statement for the current year and prior year:
What is the dollar change in selling/general expenses?
A)$(4,840)
B)$81,000
C)$22,000
D)$102,000
What is the dollar change in selling/general expenses?
A)$(4,840)
B)$81,000
C)$22,000
D)$102,000
سؤال
The Stemple Corporation data for the current year:
What would a horizontal analysis report with respect to current liabilities show?
A)Current liabilities are 6.96% of total capital.
B)Current liabilities saw a 72.46% increase from the prior year to the current year.
C)The current ratio is 1.24.
D)Current liabilities saw a 38.00% increase from the prior year to the current year.
What would a horizontal analysis report with respect to current liabilities show?
A)Current liabilities are 6.96% of total capital.
B)Current liabilities saw a 72.46% increase from the prior year to the current year.
C)The current ratio is 1.24.
D)Current liabilities saw a 38.00% increase from the prior year to the current year.
سؤال
A company reported the following amounts of net income:
Which of the following is the percentage change from Year 1 to Year 2?
A)24.00%
B)25.00%
C)124.00%
D)55.00%
Which of the following is the percentage change from Year 1 to Year 2?
A)24.00%
B)25.00%
C)124.00%
D)55.00%
سؤال
The Nichols Corporation data for the current year:
What would a horizontal analysis report with respect to net sales revenue?
A)There is a sales return of $10.23.
B)There was an increase of 18.00% in net sales revenue.
C)The cost of goods sold is 77.29% of net sales revenue.
D)There is an accounts receivable turnover of 11.26 times.
What would a horizontal analysis report with respect to net sales revenue?
A)There is a sales return of $10.23.
B)There was an increase of 18.00% in net sales revenue.
C)The cost of goods sold is 77.29% of net sales revenue.
D)There is an accounts receivable turnover of 11.26 times.
سؤال
The McCumber Corporation data for the current year:
With respect to common stock,what would a horizontal analysis report?
A)Stockholder's equity as 7.75% of total capital
B)Sales return of $11.17
C)87.72% increase from prior to current year of cost of goods sold
D)Increase of $5,880 in common stock
With respect to common stock,what would a horizontal analysis report?
A)Stockholder's equity as 7.75% of total capital
B)Sales return of $11.17
C)87.72% increase from prior to current year of cost of goods sold
D)Increase of $5,880 in common stock
سؤال
Use the following information to do a horizontal analysis of Marcus Corporation's income statement for the current year and prior year
What is the percentage change in cost of goods sold?
A)-22.00%
B)27.00%
C)127.00%
D)33.59%
What is the percentage change in cost of goods sold?
A)-22.00%
B)27.00%
C)127.00%
D)33.59%
سؤال
The Nichols Corporation data for the current year:
What would a horizontal analysis report with respect to common stock?
A)Stockholder's equity as 7.81% of total capital
B)Increase of $5,460 in common stock
C)88.50% increase from prior to current year of cost of goods sold
D)Sales return of $11.26
What would a horizontal analysis report with respect to common stock?
A)Stockholder's equity as 7.81% of total capital
B)Increase of $5,460 in common stock
C)88.50% increase from prior to current year of cost of goods sold
D)Sales return of $11.26
سؤال
A company reported the following amounts of net income:
Which of the following is the percentage change from Year 2 to Year 3?
A)24.00%
B)55.00%
C)124.00%
D)25.00%
Which of the following is the percentage change from Year 2 to Year 3?
A)24.00%
B)55.00%
C)124.00%
D)25.00%
سؤال
The Nichols Corporation data for the current year:
What would a horizontal analysis report with respect to current assets?
A)Inventory turnover of 9.17 times
B)Current ratio of 1.06
C)A 26.00% increase in current assets
D)Current assets as 40.60% of total assets
What would a horizontal analysis report with respect to current assets?
A)Inventory turnover of 9.17 times
B)Current ratio of 1.06
C)A 26.00% increase in current assets
D)Current assets as 40.60% of total assets
سؤال
The McCumber Corporation data for the current year:
With respect to selling/general expenses,what would a horizontal analysis report?
A)The current ratio is 0.92.
B)There was a 4.47% increase from prior to current year.
C)There was a 4.28% decrease from prior to current year.
D)Selling/general expenses are 7.74% of net sales revenue.
With respect to selling/general expenses,what would a horizontal analysis report?
A)The current ratio is 0.92.
B)There was a 4.47% increase from prior to current year.
C)There was a 4.28% decrease from prior to current year.
D)Selling/general expenses are 7.74% of net sales revenue.
سؤال
The McCumber Corporation data for the current year:
With respect to net income before income tax expense and net income,what would a horizontal analysis report?
A)There was an increase in both net income before income tax expense and net income of 15.00%.
B)Both net income before income tax expense and net income increased by $129,000.
C)The current ratio is 0.92.
D)Both net income before tax expense and net income were 11.17% of net sales revenue.
With respect to net income before income tax expense and net income,what would a horizontal analysis report?
A)There was an increase in both net income before income tax expense and net income of 15.00%.
B)Both net income before income tax expense and net income increased by $129,000.
C)The current ratio is 0.92.
D)Both net income before tax expense and net income were 11.17% of net sales revenue.
سؤال
The Nichols Corporation data for the current year:
What would a horizontal analysis report with respect to selling/general expenses?
A)There was a 5.62% decrease from prior to current year.
B)There was a 5.95% increase from prior to current year.
C)The current ratio is 1.06.
D)Selling/general expenses are 8.08% of net sales revenue.
What would a horizontal analysis report with respect to selling/general expenses?
A)There was a 5.62% decrease from prior to current year.
B)There was a 5.95% increase from prior to current year.
C)The current ratio is 1.06.
D)Selling/general expenses are 8.08% of net sales revenue.
سؤال
The Stemple Corporation data for the current year:
What would a horizontal analysis report with respect to net income show?
A)Both net income before tax expense and net income are 9.16% of net sales revenue.
B)There was an increase in net income of 55.71%.
C)Both net income before income tax expense and net income increased by $89,500.
D)The current ratio is 1.24.
What would a horizontal analysis report with respect to net income show?
A)Both net income before tax expense and net income are 9.16% of net sales revenue.
B)There was an increase in net income of 55.71%.
C)Both net income before income tax expense and net income increased by $89,500.
D)The current ratio is 1.24.
سؤال
The McCumber Corporation data for the current year:
With respect to current assets,what would a horizontal analysis report?
A)Inventory turnover of 9.34 times
B)Current ratio of 0.92
C)Current assets as 40.79% of total assets
D)A 27.00% increase in current assets
With respect to current assets,what would a horizontal analysis report?
A)Inventory turnover of 9.34 times
B)Current ratio of 0.92
C)Current assets as 40.79% of total assets
D)A 27.00% increase in current assets
سؤال
The Nichols Corporation data for the current year:
What would a horizontal analysis report with respect to long-term liabilities?
A)Long-term liabilities increased by $6,000.
B)Long-term liabilities decreased by 5.92%.
C)Long-term liabilities increased by 6.21%.
D)Long-term liabilities decreased by $1,500.
What would a horizontal analysis report with respect to long-term liabilities?
A)Long-term liabilities increased by $6,000.
B)Long-term liabilities decreased by 5.92%.
C)Long-term liabilities increased by 6.21%.
D)Long-term liabilities decreased by $1,500.
سؤال
The McCumber Corporation data for the current year:
With respect to long-term liabilities,what would a horizontal analysis report?
A)Long-term liabilities decreased by 6.15%.
B)Long-term liabilities increased by $8,000.
C)Long-term liabilities increased by 6.15%.
D)Long-term liabilities decreased by $1,800.
With respect to long-term liabilities,what would a horizontal analysis report?
A)Long-term liabilities decreased by 6.15%.
B)Long-term liabilities increased by $8,000.
C)Long-term liabilities increased by 6.15%.
D)Long-term liabilities decreased by $1,800.
سؤال
The McCumber Corporation data for the current year:
With respect to current liabilities,what would a horizontal analysis report?
A)The current ratio is 0.92.
B)Current liabilities are 13.35% of total capital.
C)Current liabilities saw a 50% increase from the prior year to the current year.
D)Current liabilities saw a 66.67% increase from the prior year to the current year.
With respect to current liabilities,what would a horizontal analysis report?
A)The current ratio is 0.92.
B)Current liabilities are 13.35% of total capital.
C)Current liabilities saw a 50% increase from the prior year to the current year.
D)Current liabilities saw a 66.67% increase from the prior year to the current year.
سؤال
Use the following information to do a horizontal analysis of Marcus Corporation's income statement for the current year and prior year:
What is the dollar change in gross profit?
A)$22,000
B)$(4,840)
C)$179,400
D)$25,800
What is the dollar change in gross profit?
A)$22,000
B)$(4,840)
C)$179,400
D)$25,800
سؤال
Use the following information to do a horizontal analysis of Marcus Corporation's income statement for the current year and prior year:
What is the percentage change in net income?
A)78.00%
B)-22.00%
C)16.73%
D)35.59%
What is the percentage change in net income?
A)78.00%
B)-22.00%
C)16.73%
D)35.59%
سؤال
The Stemple Corporation data for the current year:
What would a horizontal analysis report with respect to selling/general expenses show?
A)A 13.64% increase
B)Selling/general expenses as 7.39% of net sales revenue
C)A current ratio of 1.24
D)A 12% decrease
What would a horizontal analysis report with respect to selling/general expenses show?
A)A 13.64% increase
B)Selling/general expenses as 7.39% of net sales revenue
C)A current ratio of 1.24
D)A 12% decrease
سؤال
Use the following information to do a horizontal analysis of Boyce Corporation's income statement for the current year and prior year:
سؤال
سؤال
سؤال
سؤال
The Stemple Corporation data for the current year:
What would a horizontal analysis report with respect to long-term liabilities show?
A)The debt ratio is 35.32%.
B)Long-term liabilities increased by 4.47%.
C)The current ratio is 1.24.
D)Long-term liabilities decreased by $(1,400).
What would a horizontal analysis report with respect to long-term liabilities show?
A)The debt ratio is 35.32%.
B)Long-term liabilities increased by 4.47%.
C)The current ratio is 1.24.
D)Long-term liabilities decreased by $(1,400).
سؤال
سؤال
The Stemple Corporation data for the current year:
What would a horizontal analysis report with respect to current assets show?
A)Inventory turnover of 7.11 times
B)Current ratio of 1.24
C)A 22% increase in current assets
D)Current assets as 26.61% of total assets
What would a horizontal analysis report with respect to current assets show?
A)Inventory turnover of 7.11 times
B)Current ratio of 1.24
C)A 22% increase in current assets
D)Current assets as 26.61% of total assets
سؤال
Use the following information to do a horizontal analysis of Carlin Corporation's balance sheet for the end of the current and prior years.Fill in the table.
سؤال
سؤال
سؤال
سؤال
Taylor Company reported the following information for the current year:
What would a vertical analysis report with respect to current year net income before income tax and income tax expense?
A)An increase of $125,112 from prior to current year
B)An increase of both net income before income tax and income tax of 22%
C)A decrease of $29,112 in net income before tax
D)Net income before tax of 21% and income tax of 2.00% of net sales revenue
What would a vertical analysis report with respect to current year net income before income tax and income tax expense?
A)An increase of $125,112 from prior to current year
B)An increase of both net income before income tax and income tax of 22%
C)A decrease of $29,112 in net income before tax
D)Net income before tax of 21% and income tax of 2.00% of net sales revenue
سؤال
سؤال
سؤال
سؤال
The Stemple Corporation data for the current year:
What would a horizontal analysis report with respect to common stock show?
A)An increase of 6.89 in sales revenue
B)Increase of $6,000 in common stock
C)An increase of 85.37% from prior to current year
D)Sales return of $9.16
What would a horizontal analysis report with respect to common stock show?
A)An increase of 6.89 in sales revenue
B)Increase of $6,000 in common stock
C)An increase of 85.37% from prior to current year
D)Sales return of $9.16
سؤال
سؤال
The Stemple Corporation data for the current year:
What would a horizontal analysis report with respect to net sales revenue show?
A)Cost of goods sold as 80.67% of net sales revenue
B)A sales return of 9.16%
C)An increase of 19.00% in net sales revenue
D)Accounts receivable turnover of 8.06 times
What would a horizontal analysis report with respect to net sales revenue show?
A)Cost of goods sold as 80.67% of net sales revenue
B)A sales return of 9.16%
C)An increase of 19.00% in net sales revenue
D)Accounts receivable turnover of 8.06 times
سؤال
سؤال
سؤال
Taylor Company reported the following information for the current year:
What would a vertical analysis report with respect to the relationship between current year net sales revenue and COGS?
A)COGS was 60.00% of net sales revenue
B)A 8.20% decrease from prior to current year
C)An increase of $19,680 from prior to current year
D)An increase of $460,320 from prior to current year
What would a vertical analysis report with respect to the relationship between current year net sales revenue and COGS?
A)COGS was 60.00% of net sales revenue
B)A 8.20% decrease from prior to current year
C)An increase of $19,680 from prior to current year
D)An increase of $460,320 from prior to current year
سؤال
Taylor Company reported the following information for the current year:
What would a vertical analysis report with respect to current year selling and general expenses?
A)An increase of $57,768
B)19% of net sales revenue
C)A decrease of 82.80%
D)25% of net sales revenue
What would a vertical analysis report with respect to current year selling and general expenses?
A)An increase of $57,768
B)19% of net sales revenue
C)A decrease of 82.80%
D)25% of net sales revenue
سؤال
Selected information about The Staccato Company for the current year and prior year is given below.
The current year's net income percentage (as would be found on a vertical analysis of the income statement for the current year)is
A)11.00%.
B)11.98%.
C)32.74%.
D)132.74%.
The current year's net income percentage (as would be found on a vertical analysis of the income statement for the current year)is
A)11.00%.
B)11.98%.
C)32.74%.
D)132.74%.
سؤال
To follow is selected information about The Boston Company for the current year and prior year.
What is the current year's selling and general expenses percentage (as would be found on a vertical analysis of the income statement for the current year)?
A)25.05%
B)14.43%
C)159.40%
D)23.00%
What is the current year's selling and general expenses percentage (as would be found on a vertical analysis of the income statement for the current year)?
A)25.05%
B)14.43%
C)159.40%
D)23.00%
سؤال
سؤال
سؤال
Ferrero Company reported the following information for the current year:
With respect to current year net sales revenue,what would a vertical analysis report?
A)COGS would be 15.00% of net sales revenue
B)A dividend yield of $8.20
C)A decrease of 10% in net sales revenue
D)Net sales revenue would be the base amount
With respect to current year net sales revenue,what would a vertical analysis report?
A)COGS would be 15.00% of net sales revenue
B)A dividend yield of $8.20
C)A decrease of 10% in net sales revenue
D)Net sales revenue would be the base amount
سؤال
To follow is selected information about The Boston Company for the current year and prior year.
What is the current year's net income percentage (as would be found on a vertical analysis of the income statement for the current year)?
A)8.60%
B)9.80%
C)9.00%
D)108.60%
What is the current year's net income percentage (as would be found on a vertical analysis of the income statement for the current year)?
A)8.60%
B)9.80%
C)9.00%
D)108.60%
سؤال
سؤال
سؤال
سؤال
Selected information about The Staccato Company for the current year and prior year is given below.
The current year's cost of goods sold percentage (as would be found on a vertical analysis of the income statement for the current year)is
A)94.53%.
B)67.52%.
C)-5.47%.
D)62.00%.
The current year's cost of goods sold percentage (as would be found on a vertical analysis of the income statement for the current year)is
A)94.53%.
B)67.52%.
C)-5.47%.
D)62.00%.
سؤال
To follow is selected information about The Boston Company for the current year and prior year.
What is the current year's cost of goods sold percentage (as would be found on a vertical analysis of the income statement for the current year)?
A)69.70%
B)64.00%
C)-2.42%
D)97.58%
What is the current year's cost of goods sold percentage (as would be found on a vertical analysis of the income statement for the current year)?
A)69.70%
B)64.00%
C)-2.42%
D)97.58%
سؤال
سؤال
Selected information about The Staccato Company for the current year and prior year is given below.
The current year's income tax percentage (as would be found on a vertical analysis of the income statement for the current year)is
A)142.11%.
B)42.11%.
C)5.00%.
D)5.45%.
The current year's income tax percentage (as would be found on a vertical analysis of the income statement for the current year)is
A)142.11%.
B)42.11%.
C)5.00%.
D)5.45%.
سؤال
Selected information about The Staccato Company for the current year and prior year is given below.
The current year's selling and general expenses percentage (as would be found on a vertical analysis of the income statement for the current year)is
A)22.00%.
B)23.96%.
C)152.47%.
D)14.43%.
The current year's selling and general expenses percentage (as would be found on a vertical analysis of the income statement for the current year)is
A)22.00%.
B)23.96%.
C)152.47%.
D)14.43%.
سؤال
Taylor Company reported the following information for the current year:
What would a vertical analysis report with respect to current year income tax expense?
A)A decrease of $24,768
B)A decrease of 144.80% from prior to current year
C)Income tax expense is 2.00% of net sales revenue
D)A decrease of $4,344
What would a vertical analysis report with respect to current year income tax expense?
A)A decrease of $24,768
B)A decrease of 144.80% from prior to current year
C)Income tax expense is 2.00% of net sales revenue
D)A decrease of $4,344
سؤال
To follow is selected information about The Boston Company for the current year and prior year.
What is the current year's income tax percentage (as would be found on a vertical analysis of the income statement for the current year)?
A)4.00%
B)13.68%
C)113.68%
D)4.36%
What is the current year's income tax percentage (as would be found on a vertical analysis of the income statement for the current year)?
A)4.00%
B)13.68%
C)113.68%
D)4.36%
سؤال
Use the following information about The Conley Company to do a vertical analysis of the income statement for the current year.Fill in the missing components in the table.
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ملء الشاشة (f)
Deck 14: Financial Statement Analysis
1
An accurate description of horizontal analysis would be which of the following?
A)Study of percentage changes in various financial statement amounts from year to year
B)Study of changes in individual financial statement amounts as a percentage of a related base amount
C)Study of changes in key financial ratios from year to year
D)None of the above
A)Study of percentage changes in various financial statement amounts from year to year
B)Study of changes in individual financial statement amounts as a percentage of a related base amount
C)Study of changes in key financial ratios from year to year
D)None of the above
A
2
Most financial statement analysis covers trends of more than one year.
True
3
A company reported the following amounts of net income:
Which of the following is the percentage change from Year 1 to Year 2?
A)150.00%
B)110.00%
C)40.00%
D)50.00%
Which of the following is the percentage change from Year 1 to Year 2?
A)150.00%
B)110.00%
C)40.00%
D)50.00%
C
Explanation:C)
Year 1 $15,000
Year 2 21,000
Increase 6,000 /15,000 = 40%
Explanation:C)
Year 1 $15,000
Year 2 21,000
Increase 6,000 /15,000 = 40%
4
A company reported the following amounts of net income:
Which of the following is the percentage change from Year 2 to Year 3?
A)40.00%
B)50.00%
C)110.00%
D)150.00%
Which of the following is the percentage change from Year 2 to Year 3?
A)40.00%
B)50.00%
C)110.00%
D)150.00%
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5
Horizontal analysis is the study of percentage changes in comparative financial statements.
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6
The Nichols Corporation data for the current year:
What would a horizontal analysis report with respect to net income before income tax expense and net income?
A)Both net income before tax expense and net income were 11.26% of net sales revenue.
B)Both net income before income tax expense and net income increased by $128,400.
C)The current ratio is 1:06.
D)There was an increase in both net income before income tax expense and net income of 14.00%.
What would a horizontal analysis report with respect to net income before income tax expense and net income?
A)Both net income before tax expense and net income were 11.26% of net sales revenue.
B)Both net income before income tax expense and net income increased by $128,400.
C)The current ratio is 1:06.
D)There was an increase in both net income before income tax expense and net income of 14.00%.
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7
Which type of analysis includes the computation of the percentage change in total assets between two balance sheet dates?
A)Profitability
B)Vertical
C)Horizontal
D)Capital
A)Profitability
B)Vertical
C)Horizontal
D)Capital
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8
Investors and creditors generally evaluate a company by using a single year's data.
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9
Horizontal analysis and vertical analysis are used to analyze the performance of a single company.
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10
Which type of analysis compares the data of the current year to the data of the previous year in both percentage and dollar amount of increase or decrease?
A)Vertical analysis
B)Trend analysis
C)Horizontal analysis
D)Benchmarking
A)Vertical analysis
B)Trend analysis
C)Horizontal analysis
D)Benchmarking
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11
In a horizontal analysis,the earlier period is the base period.
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12
A trend percentage is computed by dividing the dollar amount of change by the base-year amount.
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13
Generally,using more than one year of data to analyze company performance is desirable.
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14
In a horizontal analysis,the actual dollar change is a better analytical tool than knowing the percentage change.
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15
The comparison of operating expenses in Year 1 and Year 2 would be included in which of the following types of analysis?
A)Profitability
B)Capital
C)Horizontal
D)Trend
A)Profitability
B)Capital
C)Horizontal
D)Trend
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16
The Nichols Corporation data for the current year:
What would a horizontal analysis report with respect to current liabilities?
A)Current liabilities saw a 30% increase from the prior year to the current year.
B)Current liabilities are 11.77% of total capital.
C)The current ratio is 1.06.
D)Current liabilities saw a 76.92% increase from the prior year to the current year.
What would a horizontal analysis report with respect to current liabilities?
A)Current liabilities saw a 30% increase from the prior year to the current year.
B)Current liabilities are 11.77% of total capital.
C)The current ratio is 1.06.
D)Current liabilities saw a 76.92% increase from the prior year to the current year.
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17
Using a base year as 100% and expressing other years as a percentage of the base year is an example of
A)trend analysis.
B)vertical analysis.
C)horizontal analysis.
D)benchmarking.
A)trend analysis.
B)vertical analysis.
C)horizontal analysis.
D)benchmarking.
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18
Which of the following types of analysis include trend percentage analysis?
A)Vertical
B)Horizontal
C)Benchmarking
D)Profitability
A)Vertical
B)Horizontal
C)Benchmarking
D)Profitability
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19
The study of percentage changes in comparative financial statements is an example of
A)vertical analysis.
B)trend analysis.
C)benchmarking.
D)horizontal analysis.
A)vertical analysis.
B)trend analysis.
C)benchmarking.
D)horizontal analysis.
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20
Which type of analysis would reveal a sales increase of $5000 from Year 1 to Year 2?
A)Horizontal
B)Capital
C)Profitability
D)Vertical
A)Horizontal
B)Capital
C)Profitability
D)Vertical
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21
The McCumber Corporation data for the current year:
With respect to net sales revenue,what would a horizontal analysis report?
A)There was an increase of 20.00% in net sales revenue.
B)There is a sales return of $10.40.
C)The cost of goods sold is 77.37% of net sales revenue.
D)There is an accounts receivable turnover of 11.17 times.
With respect to net sales revenue,what would a horizontal analysis report?
A)There was an increase of 20.00% in net sales revenue.
B)There is a sales return of $10.40.
C)The cost of goods sold is 77.37% of net sales revenue.
D)There is an accounts receivable turnover of 11.17 times.
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22
Use the following information to do a horizontal analysis of Marcus Corporation's income statement for the current year and prior year:
What is the dollar change in selling/general expenses?
A)$(4,840)
B)$81,000
C)$22,000
D)$102,000
What is the dollar change in selling/general expenses?
A)$(4,840)
B)$81,000
C)$22,000
D)$102,000
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23
The Stemple Corporation data for the current year:
What would a horizontal analysis report with respect to current liabilities show?
A)Current liabilities are 6.96% of total capital.
B)Current liabilities saw a 72.46% increase from the prior year to the current year.
C)The current ratio is 1.24.
D)Current liabilities saw a 38.00% increase from the prior year to the current year.
What would a horizontal analysis report with respect to current liabilities show?
A)Current liabilities are 6.96% of total capital.
B)Current liabilities saw a 72.46% increase from the prior year to the current year.
C)The current ratio is 1.24.
D)Current liabilities saw a 38.00% increase from the prior year to the current year.
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24
A company reported the following amounts of net income:
Which of the following is the percentage change from Year 1 to Year 2?
A)24.00%
B)25.00%
C)124.00%
D)55.00%
Which of the following is the percentage change from Year 1 to Year 2?
A)24.00%
B)25.00%
C)124.00%
D)55.00%
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25
The Nichols Corporation data for the current year:
What would a horizontal analysis report with respect to net sales revenue?
A)There is a sales return of $10.23.
B)There was an increase of 18.00% in net sales revenue.
C)The cost of goods sold is 77.29% of net sales revenue.
D)There is an accounts receivable turnover of 11.26 times.
What would a horizontal analysis report with respect to net sales revenue?
A)There is a sales return of $10.23.
B)There was an increase of 18.00% in net sales revenue.
C)The cost of goods sold is 77.29% of net sales revenue.
D)There is an accounts receivable turnover of 11.26 times.
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26
The McCumber Corporation data for the current year:
With respect to common stock,what would a horizontal analysis report?
A)Stockholder's equity as 7.75% of total capital
B)Sales return of $11.17
C)87.72% increase from prior to current year of cost of goods sold
D)Increase of $5,880 in common stock
With respect to common stock,what would a horizontal analysis report?
A)Stockholder's equity as 7.75% of total capital
B)Sales return of $11.17
C)87.72% increase from prior to current year of cost of goods sold
D)Increase of $5,880 in common stock
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27
Use the following information to do a horizontal analysis of Marcus Corporation's income statement for the current year and prior year
What is the percentage change in cost of goods sold?
A)-22.00%
B)27.00%
C)127.00%
D)33.59%
What is the percentage change in cost of goods sold?
A)-22.00%
B)27.00%
C)127.00%
D)33.59%
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28
The Nichols Corporation data for the current year:
What would a horizontal analysis report with respect to common stock?
A)Stockholder's equity as 7.81% of total capital
B)Increase of $5,460 in common stock
C)88.50% increase from prior to current year of cost of goods sold
D)Sales return of $11.26
What would a horizontal analysis report with respect to common stock?
A)Stockholder's equity as 7.81% of total capital
B)Increase of $5,460 in common stock
C)88.50% increase from prior to current year of cost of goods sold
D)Sales return of $11.26
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29
A company reported the following amounts of net income:
Which of the following is the percentage change from Year 2 to Year 3?
A)24.00%
B)55.00%
C)124.00%
D)25.00%
Which of the following is the percentage change from Year 2 to Year 3?
A)24.00%
B)55.00%
C)124.00%
D)25.00%
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30
The Nichols Corporation data for the current year:
What would a horizontal analysis report with respect to current assets?
A)Inventory turnover of 9.17 times
B)Current ratio of 1.06
C)A 26.00% increase in current assets
D)Current assets as 40.60% of total assets
What would a horizontal analysis report with respect to current assets?
A)Inventory turnover of 9.17 times
B)Current ratio of 1.06
C)A 26.00% increase in current assets
D)Current assets as 40.60% of total assets
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31
The McCumber Corporation data for the current year:
With respect to selling/general expenses,what would a horizontal analysis report?
A)The current ratio is 0.92.
B)There was a 4.47% increase from prior to current year.
C)There was a 4.28% decrease from prior to current year.
D)Selling/general expenses are 7.74% of net sales revenue.
With respect to selling/general expenses,what would a horizontal analysis report?
A)The current ratio is 0.92.
B)There was a 4.47% increase from prior to current year.
C)There was a 4.28% decrease from prior to current year.
D)Selling/general expenses are 7.74% of net sales revenue.
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32
The McCumber Corporation data for the current year:
With respect to net income before income tax expense and net income,what would a horizontal analysis report?
A)There was an increase in both net income before income tax expense and net income of 15.00%.
B)Both net income before income tax expense and net income increased by $129,000.
C)The current ratio is 0.92.
D)Both net income before tax expense and net income were 11.17% of net sales revenue.
With respect to net income before income tax expense and net income,what would a horizontal analysis report?
A)There was an increase in both net income before income tax expense and net income of 15.00%.
B)Both net income before income tax expense and net income increased by $129,000.
C)The current ratio is 0.92.
D)Both net income before tax expense and net income were 11.17% of net sales revenue.
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33
The Nichols Corporation data for the current year:
What would a horizontal analysis report with respect to selling/general expenses?
A)There was a 5.62% decrease from prior to current year.
B)There was a 5.95% increase from prior to current year.
C)The current ratio is 1.06.
D)Selling/general expenses are 8.08% of net sales revenue.
What would a horizontal analysis report with respect to selling/general expenses?
A)There was a 5.62% decrease from prior to current year.
B)There was a 5.95% increase from prior to current year.
C)The current ratio is 1.06.
D)Selling/general expenses are 8.08% of net sales revenue.
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34
The Stemple Corporation data for the current year:
What would a horizontal analysis report with respect to net income show?
A)Both net income before tax expense and net income are 9.16% of net sales revenue.
B)There was an increase in net income of 55.71%.
C)Both net income before income tax expense and net income increased by $89,500.
D)The current ratio is 1.24.
What would a horizontal analysis report with respect to net income show?
A)Both net income before tax expense and net income are 9.16% of net sales revenue.
B)There was an increase in net income of 55.71%.
C)Both net income before income tax expense and net income increased by $89,500.
D)The current ratio is 1.24.
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35
The McCumber Corporation data for the current year:
With respect to current assets,what would a horizontal analysis report?
A)Inventory turnover of 9.34 times
B)Current ratio of 0.92
C)Current assets as 40.79% of total assets
D)A 27.00% increase in current assets
With respect to current assets,what would a horizontal analysis report?
A)Inventory turnover of 9.34 times
B)Current ratio of 0.92
C)Current assets as 40.79% of total assets
D)A 27.00% increase in current assets
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36
The Nichols Corporation data for the current year:
What would a horizontal analysis report with respect to long-term liabilities?
A)Long-term liabilities increased by $6,000.
B)Long-term liabilities decreased by 5.92%.
C)Long-term liabilities increased by 6.21%.
D)Long-term liabilities decreased by $1,500.
What would a horizontal analysis report with respect to long-term liabilities?
A)Long-term liabilities increased by $6,000.
B)Long-term liabilities decreased by 5.92%.
C)Long-term liabilities increased by 6.21%.
D)Long-term liabilities decreased by $1,500.
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37
The McCumber Corporation data for the current year:
With respect to long-term liabilities,what would a horizontal analysis report?
A)Long-term liabilities decreased by 6.15%.
B)Long-term liabilities increased by $8,000.
C)Long-term liabilities increased by 6.15%.
D)Long-term liabilities decreased by $1,800.
With respect to long-term liabilities,what would a horizontal analysis report?
A)Long-term liabilities decreased by 6.15%.
B)Long-term liabilities increased by $8,000.
C)Long-term liabilities increased by 6.15%.
D)Long-term liabilities decreased by $1,800.
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38
The McCumber Corporation data for the current year:
With respect to current liabilities,what would a horizontal analysis report?
A)The current ratio is 0.92.
B)Current liabilities are 13.35% of total capital.
C)Current liabilities saw a 50% increase from the prior year to the current year.
D)Current liabilities saw a 66.67% increase from the prior year to the current year.
With respect to current liabilities,what would a horizontal analysis report?
A)The current ratio is 0.92.
B)Current liabilities are 13.35% of total capital.
C)Current liabilities saw a 50% increase from the prior year to the current year.
D)Current liabilities saw a 66.67% increase from the prior year to the current year.
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39
Use the following information to do a horizontal analysis of Marcus Corporation's income statement for the current year and prior year:
What is the dollar change in gross profit?
A)$22,000
B)$(4,840)
C)$179,400
D)$25,800
What is the dollar change in gross profit?
A)$22,000
B)$(4,840)
C)$179,400
D)$25,800
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40
Use the following information to do a horizontal analysis of Marcus Corporation's income statement for the current year and prior year:
What is the percentage change in net income?
A)78.00%
B)-22.00%
C)16.73%
D)35.59%
What is the percentage change in net income?
A)78.00%
B)-22.00%
C)16.73%
D)35.59%
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41
The Stemple Corporation data for the current year:
What would a horizontal analysis report with respect to selling/general expenses show?
A)A 13.64% increase
B)Selling/general expenses as 7.39% of net sales revenue
C)A current ratio of 1.24
D)A 12% decrease
What would a horizontal analysis report with respect to selling/general expenses show?
A)A 13.64% increase
B)Selling/general expenses as 7.39% of net sales revenue
C)A current ratio of 1.24
D)A 12% decrease
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42
Use the following information to do a horizontal analysis of Boyce Corporation's income statement for the current year and prior year:
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43
Trend analysis is the same thing as a vertical analysis.
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44
In performing a vertical analysis of an income statement,which of the following is generally used as the base amount?
A)Net sales
B)Total expenses
C)Gross sales
D)Gross profit
A)Net sales
B)Total expenses
C)Gross sales
D)Gross profit
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45
Which of the following terms is defined as an analysis of a financial statement that reveals the relationship of each statement item to a specific base?
A)Benchmarking
B)Horizontal analysis
C)Vertical analysis
D)Capital analysis
A)Benchmarking
B)Horizontal analysis
C)Vertical analysis
D)Capital analysis
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46
The Stemple Corporation data for the current year:
What would a horizontal analysis report with respect to long-term liabilities show?
A)The debt ratio is 35.32%.
B)Long-term liabilities increased by 4.47%.
C)The current ratio is 1.24.
D)Long-term liabilities decreased by $(1,400).
What would a horizontal analysis report with respect to long-term liabilities show?
A)The debt ratio is 35.32%.
B)Long-term liabilities increased by 4.47%.
C)The current ratio is 1.24.
D)Long-term liabilities decreased by $(1,400).
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47
In vertical analysis,the base used for comparison on the balance sheet is
A)total stockholders' equity.
B)total liabilities.
C)total liabilities plus total stockholders' equity or total assets.
D)none of the above
A)total stockholders' equity.
B)total liabilities.
C)total liabilities plus total stockholders' equity or total assets.
D)none of the above
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48
The Stemple Corporation data for the current year:
What would a horizontal analysis report with respect to current assets show?
A)Inventory turnover of 7.11 times
B)Current ratio of 1.24
C)A 22% increase in current assets
D)Current assets as 26.61% of total assets
What would a horizontal analysis report with respect to current assets show?
A)Inventory turnover of 7.11 times
B)Current ratio of 1.24
C)A 22% increase in current assets
D)Current assets as 26.61% of total assets
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49
Use the following information to do a horizontal analysis of Carlin Corporation's balance sheet for the end of the current and prior years.Fill in the table.
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50
Vertical analysis would rarely be performed on which of the following?
A)Income statement
B)Schedule of depreciation
C)Balance sheet
D)All of the above are common targets of vertical analysis.
A)Income statement
B)Schedule of depreciation
C)Balance sheet
D)All of the above are common targets of vertical analysis.
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51
Net income is used as the base for vertical analysis percentages on the income statement.
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52
Trend percentages are not a form of vertical analysis.
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53
Taylor Company reported the following information for the current year:
What would a vertical analysis report with respect to current year net income before income tax and income tax expense?
A)An increase of $125,112 from prior to current year
B)An increase of both net income before income tax and income tax of 22%
C)A decrease of $29,112 in net income before tax
D)Net income before tax of 21% and income tax of 2.00% of net sales revenue
What would a vertical analysis report with respect to current year net income before income tax and income tax expense?
A)An increase of $125,112 from prior to current year
B)An increase of both net income before income tax and income tax of 22%
C)A decrease of $29,112 in net income before tax
D)Net income before tax of 21% and income tax of 2.00% of net sales revenue
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54
The formula used in vertical analysis of the balance sheet is: (each balance sheet line item/total assets)= vertical %.
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55
In a vertical analysis of an income statement,sales revenue is assigned a percentage of 100.
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56
In performing a vertical analysis of a balance sheet,which of the following is generally used as the base amount?
A)Total liabilities
B)Net assets
C)Total assets
D)Total stockholder's equity
A)Total liabilities
B)Net assets
C)Total assets
D)Total stockholder's equity
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57
The Stemple Corporation data for the current year:
What would a horizontal analysis report with respect to common stock show?
A)An increase of 6.89 in sales revenue
B)Increase of $6,000 in common stock
C)An increase of 85.37% from prior to current year
D)Sales return of $9.16
What would a horizontal analysis report with respect to common stock show?
A)An increase of 6.89 in sales revenue
B)Increase of $6,000 in common stock
C)An increase of 85.37% from prior to current year
D)Sales return of $9.16
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58
In a vertical analysis of a balance sheet,total liabilities is assigned a percentage of 100.
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59
The Stemple Corporation data for the current year:
What would a horizontal analysis report with respect to net sales revenue show?
A)Cost of goods sold as 80.67% of net sales revenue
B)A sales return of 9.16%
C)An increase of 19.00% in net sales revenue
D)Accounts receivable turnover of 8.06 times
What would a horizontal analysis report with respect to net sales revenue show?
A)Cost of goods sold as 80.67% of net sales revenue
B)A sales return of 9.16%
C)An increase of 19.00% in net sales revenue
D)Accounts receivable turnover of 8.06 times
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60
Vertical analysis is the analysis of a financial statement that reveals the relationship of each statement item to a specified base.
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61
The common size statement percentages are different from those that appear in horizontal analysis.
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62
Taylor Company reported the following information for the current year:
What would a vertical analysis report with respect to the relationship between current year net sales revenue and COGS?
A)COGS was 60.00% of net sales revenue
B)A 8.20% decrease from prior to current year
C)An increase of $19,680 from prior to current year
D)An increase of $460,320 from prior to current year
What would a vertical analysis report with respect to the relationship between current year net sales revenue and COGS?
A)COGS was 60.00% of net sales revenue
B)A 8.20% decrease from prior to current year
C)An increase of $19,680 from prior to current year
D)An increase of $460,320 from prior to current year
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63
Taylor Company reported the following information for the current year:
What would a vertical analysis report with respect to current year selling and general expenses?
A)An increase of $57,768
B)19% of net sales revenue
C)A decrease of 82.80%
D)25% of net sales revenue
What would a vertical analysis report with respect to current year selling and general expenses?
A)An increase of $57,768
B)19% of net sales revenue
C)A decrease of 82.80%
D)25% of net sales revenue
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64
Selected information about The Staccato Company for the current year and prior year is given below.
The current year's net income percentage (as would be found on a vertical analysis of the income statement for the current year)is
A)11.00%.
B)11.98%.
C)32.74%.
D)132.74%.
The current year's net income percentage (as would be found on a vertical analysis of the income statement for the current year)is
A)11.00%.
B)11.98%.
C)32.74%.
D)132.74%.
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65
To follow is selected information about The Boston Company for the current year and prior year.
What is the current year's selling and general expenses percentage (as would be found on a vertical analysis of the income statement for the current year)?
A)25.05%
B)14.43%
C)159.40%
D)23.00%
What is the current year's selling and general expenses percentage (as would be found on a vertical analysis of the income statement for the current year)?
A)25.05%
B)14.43%
C)159.40%
D)23.00%
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66
Benchmarking is a valid analysis measure of performance.
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67
Horizontal analysis allows the comparison of companies with different amounts of net sales and net assets.
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68
Ferrero Company reported the following information for the current year:
With respect to current year net sales revenue,what would a vertical analysis report?
A)COGS would be 15.00% of net sales revenue
B)A dividend yield of $8.20
C)A decrease of 10% in net sales revenue
D)Net sales revenue would be the base amount
With respect to current year net sales revenue,what would a vertical analysis report?
A)COGS would be 15.00% of net sales revenue
B)A dividend yield of $8.20
C)A decrease of 10% in net sales revenue
D)Net sales revenue would be the base amount
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69
To follow is selected information about The Boston Company for the current year and prior year.
What is the current year's net income percentage (as would be found on a vertical analysis of the income statement for the current year)?
A)8.60%
B)9.80%
C)9.00%
D)108.60%
What is the current year's net income percentage (as would be found on a vertical analysis of the income statement for the current year)?
A)8.60%
B)9.80%
C)9.00%
D)108.60%
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70
The data provided by the horizontal or vertical analysis of the financial statements can be used in benchmarking.
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71
A common size statement reports only percentages.
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72
Comparing the horizontal analysis of McDonald's financial statements to the horizontal analysis of Burger King's financial statements in percentages of increase or decrease from 2010 to 2011 would be
A)vertical analysis.
B)benchmarking.
C)ratio analysis.
D)horizontal analysis.
A)vertical analysis.
B)benchmarking.
C)ratio analysis.
D)horizontal analysis.
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73
Selected information about The Staccato Company for the current year and prior year is given below.
The current year's cost of goods sold percentage (as would be found on a vertical analysis of the income statement for the current year)is
A)94.53%.
B)67.52%.
C)-5.47%.
D)62.00%.
The current year's cost of goods sold percentage (as would be found on a vertical analysis of the income statement for the current year)is
A)94.53%.
B)67.52%.
C)-5.47%.
D)62.00%.
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74
To follow is selected information about The Boston Company for the current year and prior year.
What is the current year's cost of goods sold percentage (as would be found on a vertical analysis of the income statement for the current year)?
A)69.70%
B)64.00%
C)-2.42%
D)97.58%
What is the current year's cost of goods sold percentage (as would be found on a vertical analysis of the income statement for the current year)?
A)69.70%
B)64.00%
C)-2.42%
D)97.58%
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75
Common size statements allow the comparison of two or more companies with different amounts of net sales and net assets.
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76
Selected information about The Staccato Company for the current year and prior year is given below.
The current year's income tax percentage (as would be found on a vertical analysis of the income statement for the current year)is
A)142.11%.
B)42.11%.
C)5.00%.
D)5.45%.
The current year's income tax percentage (as would be found on a vertical analysis of the income statement for the current year)is
A)142.11%.
B)42.11%.
C)5.00%.
D)5.45%.
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77
Selected information about The Staccato Company for the current year and prior year is given below.
The current year's selling and general expenses percentage (as would be found on a vertical analysis of the income statement for the current year)is
A)22.00%.
B)23.96%.
C)152.47%.
D)14.43%.
The current year's selling and general expenses percentage (as would be found on a vertical analysis of the income statement for the current year)is
A)22.00%.
B)23.96%.
C)152.47%.
D)14.43%.
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78
Taylor Company reported the following information for the current year:
What would a vertical analysis report with respect to current year income tax expense?
A)A decrease of $24,768
B)A decrease of 144.80% from prior to current year
C)Income tax expense is 2.00% of net sales revenue
D)A decrease of $4,344
What would a vertical analysis report with respect to current year income tax expense?
A)A decrease of $24,768
B)A decrease of 144.80% from prior to current year
C)Income tax expense is 2.00% of net sales revenue
D)A decrease of $4,344
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79
To follow is selected information about The Boston Company for the current year and prior year.
What is the current year's income tax percentage (as would be found on a vertical analysis of the income statement for the current year)?
A)4.00%
B)13.68%
C)113.68%
D)4.36%
What is the current year's income tax percentage (as would be found on a vertical analysis of the income statement for the current year)?
A)4.00%
B)13.68%
C)113.68%
D)4.36%
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80
Use the following information about The Conley Company to do a vertical analysis of the income statement for the current year.Fill in the missing components in the table.
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