CFA特許金融分析師-CFA一級(jí)-財(cái)報(bào)

CFA特許金融分析師-CFA一級(jí)-財(cái)報(bào)

［單選題］1.Ifatthebeginningtheentryrecordedwasprepaidexpense,

aftertheproducts(江南博哥)aredeliveredortheserviceis

rendered,theadjustingentrywillmostlikelyresultsin:

A.thereductionofanassetandtherecordingofanexpense.

B.theadditionofanassetandtherecordingofanexpense.

C.thereductionofanassetandthereductionofandebt.

正確答案：A

參考解析：Theadjustingentrytorecordtheexpiryofaprepaid

expenseisthereductionofanasset(theprepaid)andthe

recognitionoftheexpense.

［單選題］2.CellServicesInc.(CSI)had1,000,000averageshares

outstandingduringallof2009.During2009,CSIalsohad10,000

optionsoutstandingwithexercisepricesof$10each.Theaverage

stockpriceofCSIduring2009was$15.Forpurposesofcomputing

dilutedearningspershare,howmanyshareswouldbeusedinthe

denominator?

A.1,003,333.

B.1,006,667.

C.1,010,000.

正確答案：A

參考解析：：Aiscorrect.Withstockoptions,thetreasurystock

methodmustbeused.Underthatmethod,thecompanywou1clreceive

$100,000(10,000X$10)andwouldrepurchase6,667shares

($100,000/$15).Thesharesforthedenominatorwould

E

Sharesoutstanding1,000,000

Optionsexercises10,000

Treasurysharespurchased(6,667)

Denominator1,003,333

be:

［單選題］3.Interestpaidisclassifiedasanoperatingcashflowunder:

A.USGAAPbutmaybeclassifiedaseitheroperatingorinvestingcash

flowsunderIFRS.

B.IFRSbutmaybeclassifiedaseitheroperatingorinvestingcash

flowsunderUSGAAP.

C.USGAAPbutmaybeclassifiedaseitheroperatingorfinancingcash

flowsunderIFRS.

正確答案：C

參考解析：：Ciscorrect.Interestexpenseisalwaysclassifiedas

anoperatingcashflowunderUSGAAPbutmaybeclassifiedaseither

anoperatingorfinancingcashflowunderIFRS.

［單選題］4.Abenefitofusingthedirectmethodratherthanthe

indirectmethodwhenreportingoperatingcashflowsisthatthe

directmethod:

A.iniiioisafoiecasLingapproach.

B.iseasierandlesscostly.

C.providesspecificinformationonthesourcesofoperatingcash

flows.

正確答案：C

參考解析：：Ciscorrect.Theprimaryargumentinfavorofthe

directmethodisthatitprovidesinformationonthespecificsources

ofoperatingcashreceiptsandpayments.Argumentsfortheindirect

methodincludethatitmirrorsaforecastingapproachanditis

easierandlesscostly

［單選題］5.Theincomestatementisbestusedtoevaluateacompany's:

A.financialposition.

B.sourcesofcashflow.

C.financialresultsfrombusinessactivities.

正確答案：C

參考解析：：Ciscorrect.Acompany?srevenuesandexpensesare

presentedontheincomestatement,whichisusedtoevaluatea

companyJsfinancialresults(orprofitability)frombusiness

activitiesoveraperiodoftime.Acompanyysfinancialpositionis

bestevaluatedbyusingthebalancesheet.Acompany?ssourcesof

cashflowarebestevaluatedusingthecashflowstatement.

［單選題］6.Cashflowsfromtaxesonincomemustbeseparately

disclosedunder:

A.IFRSonly.

B.USGAAPonly.

C.bothIFRSandUSGAAP.

正確答案：C

參考解析：：Ciscorrect.Taxesonincomearerequiredtobe

separatelydisclosedunderIFRSandUSGAAP.Thedisclosuremaybein

thecashflowstatementorelsewhere.

［單選題］7.WhencalculatingdilutedEPS,whichofthefollowing

securitiesinthecapitalstructureincreasestheweightedaverage

numberofcommonsharesoutstandingwithoutaffectingnetincome

availabletocommonshareholders?

A.Stockoptions

B.Convertibledebtthatisdilutive

C.Convertiblepreferredstockthatisdilutive

正確答案：A

參考解析：：AiscoiiecL.Whenacompanyhasslockoptions

outstanding,dilutedEPSiscalculatedasifthefinancial

instrumentshadbeenexercisedandthecompanyhadusedtheproceeds

fromtheexercisetorepurchaseasmanysharespossibleatthe

weightedaveragemarketpriceofcommonstockduringtheperiod.Asa

result,theconversionofstockoptionsincreasesthenumberof

commonsharesoutstandingbuthasnoeffectonnetincomeavailable

tocommonshareholders.Theconversionofconvertibledebtincreases

thenetincomeavailabletocommonshareholdersbytheafter-tax

amountofinterestexpensesaved.Theconversionofconvertible

preferredsharesincreasesthenetincomeavailabletocommon

shareholdersbytheamountofpreferreddividendspaid;thenumerator

becomesthenetincome.

［單選題］8.Neutralityofinformationinthefinancialstatementsmost

closelycontributestowhichqualitativecharacteristic?

A.Relevance.

B.Understandabi1ity.

C.Faithfulrepresentation.

正確答案：C

參考解析：：Ciscorrect.Thefundamentalqualitativecharacteristic

offaithfulrepresentationiscontributedtobycompleteness,

neutrality,andfreedomfromerror.

［單選題］9.Tnaccrualaccounting,ifanadjustingentryresultsinthe

reductionofanassetandtherecordingofanexpense,the

originatingentryrecordedwasmostlikelya(n):

A.prepaidexpense

B.accruedexpense

C.unearnedrevenue

正確答案：A

參考解析：Theadjustingentrytorecordtheexpiryofaprepaid

expenseisthereductionofanasset(theprepaid)andthe

recognitionoftheexpense.

［單選題］10.Acompanyhastotalliabilitiesof￡35millionandtotal

stockholdersJequityof￡55million.Totalliabilitiesare

representedonaverticalcommon-sizebalancesheetbyapercentage

closestto:

A.35%.

B.39%.

C.64%.

正確答案：B

參考解析：：Biscorrect.Verticalcommon-sizeanalysisinvolves

statingeachbalancesheetitemasapercentageoftotalassets.

Totalassetsarethesumoftotalliabilities(￡35million)and

totalstockholders?equity(￡55million),or￡90million.Total

liabilitiesareshownonaverticalcommon-sizebalancesheetas

(￡35million/￡90million)39%.

［單選題］11.Fairplayhadthefollowinginformationrelatedtothesale

ofitsproductsduring2009,whichwasitsfirstyearofbusiness:

Revenue$1,000,000

Returnsofgoodssold$100,000

Cashcollected$800,000

Costofgoodssold$700,000

Undertheaccrualbasisof

accounting,howmuchnotrevenuewouldbereportedonFairplay?s

2009incomestatement?

A.$200,000.

B.$900,000.

C.$1,000,000.

正確答案：B

參考解析：：Biscorrect.Netrevenueisrevenueforgoodssold

duringtheperiodlessanyreturnsandallowances,or$1,000,000

minus$100,000=$900,000.

［單選題］12.USgenerallyacceptedaccountingprinciplesarecurrently

developedbywhichentity?

A.TheSecuritiesandExchangeCommission.

B.TheFinancialAccountingStandardsBoard.

C.ThePublicCompanyAccountingOversightBoard.

正確答案：B

參考解析：：Biscorrect.TheFASBisresponsiblefortheAccounting

StandardsCodification?,thesinglesourceofnongovernmental

authoritativeUSgenerallyacceptedaccountingprinciples.

［單選題］13.Moneyreceivedfromcustomersforproductstobedelivered

inthefutureisrecordedas:

A.revenueandanasset.

B.anassetandaliability.

C.revenueandaliability.

正確答案：B

參考解析：：Biscorrect.Thecashreceivedfromcustomers

representsanasset.Theobligationtoprovideaproductinthe

futureisaliabilitycalleduunearnedincome,,oruunearned

revenue.Astheproductisdelivered,revenuewillberecognized

andtheliabilitywillbereduced.

［單選題］14.Whichofthefollowingsourcesofinformationusedby

analystsisfoundoutsideacompanyysannualreport?

A.Auditor'sreport

B.Peercompanyanalysis

C.ManagementJsdiscussionandanalysis

正確答案：B

參考解析：：Biscorrect.Whenperformingfinancialstatement

analysis,analystsshouldreviewallcompanysourcesofinformation

aswellasinformationfromexternalsourcesregardingtheeconomy,

theindustry,thecompany,andpeer(comparable)companies.

［單選題］15.Whenacompanybuyssharesofitsownstocktobeheldin

treasury,itrecordsareductionin:

A.bothassetsandliabilities.

B.bothassetsandshareholders?equity.

C.assetsandanincreaseinshareholdersJequity.

正確答案：B

參考解析：：Biscorrect.Sharerepurchasesreducethecompany's

cash(anasset).Shareholdersequityisreducedbecausethereare

fewersharesoutstandingandtreasurystockisanoffsettoowners'

equity.

［單選題］16.Acompany?sprofitabilityoveraperiodoftimeisbest

evaluatedusingthe:

A.balancesheet.

B.incomestatement.

C.cashflowstatement.

正確答案：B

參考解析：：Biscorrect.AcompanyJsprofitabilityisbest

evaluatedusingtheincomestatement.Theincomestatementpresents

informationonthefinancialresultsofacompany'sbusiness

activitiesoveraperiodoftimebycommunicatinghowmuchrevenue

wasgeneratedandtheexpensesincurredtogeneratethatrevenue.

［單選題］17,Whichofthefollowingisnotaconstraintonthe

financialslaleinenlsaccoidingtoLlieConuepLucilFiamework?

A.Understandabi1ity.

B.Benefitversuscost.

C.Balancingofqualitativecharacteristics.

正確答案：A

參考解析：：Aiscorrect.Understandabilityisanenhancing

qualitativecharacteristicoffinancialinformation—notaconstraint.

［單選題］18.Whichofthefollowingisnotarequiredfinancial

statementaccordingtoIASNo.1?

A.Statementoffinancialposition.

B.Statementofchangesinincome.

C.Statementofcomprehensiveincome.

正確答案：B

參考解析：：Biscorrect.Thereisnostatementofchangesinincome.

UnderIASNo.1,acompletesetoffinancialstatementsincludesa

statementoffinancialposition,astatementofcomprehensiveincome,

astatementofchangesinequity,astatementofcashflows,and

notescomprisingasummaryofsignificantaccountingpoliciesand

otherexplanatoryinformation.

［單選題］19.AcoreobjectiveoftheInternationalOrganizationof

SecuritiesCommissionsisto:

A.eliminatesystemicrisk.

B.protectusersoffinancialstatements.

C.ensurethatmarketsarefair,efficient,andtransparent.

正確答案：C

參考解析：：Ciscorrect.AcoreobjectiveofIOSCOistoensure

thatmarketsarefair,efficient,andtransparent.Theothercore

objectivesaretoreduce,noteliminate,systemicriskandtoprotect

investors,notallusersoffinancialstatements.

［單選題］20.GoldenCumulusCorp.,acommoditiestradingcompany,

reportedinterestexpenseof$19millionandtaxesof$6million.

Interestpayableincreasedby$3million,andtaxespayabledecreased

by$4millionovertheperiod.Howmuchcashdidthecompanypayfor

interestandtaxes?

A.$22millionforinterestand$10millionfortaxes,

B.$16millionforinterestand$2millionfortaxes,

C.$16millionforinterestand$10millionfortaxes.

正確答案：C

參考解析:CiscoirecI.Interestexpenseof$19millionlessihe

increaseininterestpayableof$3millionequalsinterestpaidof

$16million.Taxexpenseof$6millionplusthedecreaseintaxes

payableof$4millionequalstaxespaidof$10million.

［單選題］21.DenaliLimited,amanufacturingcompany,hadthefollowing

incomestatementinformation:

Revenue$4,000,000

Costofgoodssold$3,000,000

Otheroperatingexpenses$500,000

Interestexpense$100,000

Taxexpense

$120,000Denali,sgrossprofitis

equalto:

A.$280,000.

B.$500,000.

C.$1,000,000.

正確答案：C

參考解析：：Ciscorrect.Grossmarginisrevenueminuscostof

goodssold.AnswerArepresentsnetincomeandBrepresentsoperating

income.

［單選題］22.Forfinancialassetsclassifiedasavailableforsale,how

areunrealizedgainsandlossesreflectedinshareholders?equity?

A.Theyarenotrecognized.

B.Theyflowthroughretainedearnings.

C.Theyareacomponentofaccumulatedothercomprehensiveincome.

正確答案：C

參考解析：：Ciscorrect.Forfinancialassetsclassifiedas

availableforsale,unrealizedgainsandlossesarenotrecordedon

theincomestatementandinsteadarepartofothercomprehensive

income.Accumulatedothercomprehensiveincomeisacomponentof

Shareholders?equity

［單選題］23.When,attheendofanaccountingperiod,cashhasbeen

paidwithrespecttoanexpenseincurredbutnotyetrecognizedin

thefinancialstatements,thebusinessshouldthenrecord:

A.anaccruedexpense,anasset.

B.aprepaidexpense,anasset.

C.anaccruedexpense,aliability.

正確答案：B

參考解析:Paymenlofexpensesinadvanceiscalledaprepaidexpense,

whichisclassifiedasanasset.

［單選題］24.Anauditordeterminesthatacompany?sfinancial

statementsarepreparedinaccordancewithapplicableaccounting

standardsexceptwithrespecttoinventoryreporting.Thisexception

ismostlikelytoresultinanauditopinionthatis:

A.adverse.

B.qualified.

C.unqualified.

正確答案：B

參考解析：：Biscorrect.Aqualifiedauditopinionisoneinwhich

thereissomescopelimitationorexceptiontoaccountingstandards.

Exceptionsaredescribedintheauditreportwithadditional

explanatoryparagraphssothattheanalystcandeterminethe

importanceoftheexception.

［單選題］25.Debtduewithinoneyearisconsidered:

A.current.

B.preferred.

C.convertible.

正確答案：A

參考解析：：Aiscorrect.Currentliabilitiesarethoseliabilities,

includingdebt,duewithinoneyear.Preferredreferstoaclassof

stock.Convertiblereferstoafeatureofbonds(orpreferredstock)

allowingtheholdertoconverttheinstrumentintocommonstock.

［單選題］26.Acompanypaysitsworkersonthe1standthe15thofeach

monthfortheirserviceinthepreviousmonth.Thewagesearnedfrom

the15thtothe30thofSeptemberbytheemployeesarebestdescribed

asa(n):

A.unearnedexpense.

B.accruedexpense.

C.prepaidexpense.

正確答案：B

參考解析：Wageexpensesthathavebeenincurredbutnotyetpaidare

anexampleofanaccruedexpense:aliabilitythathasnotyet

resultedinacashpayment.

［單選題］27.Themost1ikelycompanytousealiquidity-basedbalance

sheetpresentationisa:

A.bank.

B.conipulei,inaiiufcicluiei-holdinginveiiloiies.

C.softwarecompanywithtradereceivablesandpayables.

正確答案：A

參考解析：：Aiscorrect.Aliquidity-basedpresentation,rather

thanacurrent/non-currentpresentation,maybeusedbysuchentities

asbanksifbroadlypresentingassetsandliabilitiesinorderof

liquidityisreliableandmorerelevant.

［單選題］28.When,attheendofanaccountingperiod,arevenuehas

beenrecognizedinthefinancialstatementsbutnocashhasbeen

received,theamountshouldberecordedas:

A.accruedrevenue,anasset.

B.deferredrevenue,anasset.

C.accruedrevenue,aliability.

正確答案：A

參考解析：Cashistobereceivedafterrevenuehasbeenrecognized

butnobillinghasactuallyoccurred,anunbi1led(accrued)revenue

isrecorded.Suchaccrualswouldusuallyoccurwhenanaccounting

periodendspriortoacompanybillingitscustomer.Thistypeof

accrualcanbecontrastedwithasimplecreditsale,whichis

reflectedasanincreaseinrevenueandanincreaseinaccounts

receivable.Noaccrualisnecessary.

［單選題］29.Acompanypreviouslyexpensedtheincrementalcostsof

obtainingacontract.Al1elsebeingequal,adoptingtheMay2014

1ASBandFASBconvergedaccountingstandardsonrevenuerecognition

makesthecompanyJsprofitabilityinitiallyappear:

A.lower.

B.unchanged.

C.higher.

正確答案：C

參考解析：：Ciscorrect.Undertheconvergedaccountingstandards,

theincrementalcostsofobtainingacontractandcertaincosts

incurredtofulfillacontractmustbecapitalized.Ifacompany

expensedtheseincrementalcostsintheyearspriortoadoptingthe

convergedstandards,allelsebeingequal,itsprofitabilitywill

appearhigherundertheconvergedstandards.

［單選題］30.LaurelliBuilders(LB)reportedthefollowingfinancial

dataforyear-end31December:

E▲一J

Commonsharesoutstanding,1January2,020,000

Commonsharesissuedasstockdividend,1June380,000

Warrantsoutstanding,1January500,000

Netincome$3,350,000

Preferredstockdividendspaid$430,000

Commonstockdividendspaid$240,000

Whichstatement

aboutthecalculationofLB'sEPSismostaccurate?

A.LB'sbasicEPSis$1.12.

B.LB'sdilutedEPSisequaltoorlessthanitsbasicEPS.

C.Theweightedaveragenumberofsharesoutstandingis2,210,000.

正確答案：B

參考解析：：Biscorrect.LBhaswarrantsinitscapitalstructure;

iftheexercisepriceislessthantheweightedaveragemarketprice

duringtheyear,theeffectoftheirconversionistoincreasethe

weightedaveragenumberofcommonsharesoutstanding,causingdiluted

EPStobe1owerthanbasicEPS.Tftheexercisepriceisequaltothe

weightedaveragemarketprice,thenumberofsharesissuedequalsthe

numberofsharesrepurchased.Therefore,theweightedaveragenumber

ofcommonsharesoutstandingisnotaffectedanddilutedEPSequals

basicEPS.Iftheexercisepriceisgreaterthantheweightedaverage

marketprice,theeffectoftheirconversionisanti-dilutive.As

such,theyarenotincludedinthecalculationofbasicEPS.LB's

basicEPSis$1.22［=($3,350,000-$430,000)/2,400,000］.Stock

dividendsaretreatedashavingbeenissuedretroactivelytothe

beginningoftheperiod.

［單選題］31.Theassumptionthattheeffectsoftransactionsandother

eventsarerecognizedwhentheyoccur,notwhenthecashflowsoccur,

iscalled:

A.relevance.

B.accrualbasis.

C.goingconcern.

正確答案：B

參考解析：：Biscorrect.Accrualbasisreflectstheeffectsof

transactionsandothereventsbeingrecognizedwhentheyoccur,not

whenthecashflows.Theseeffectsarerecordedandreportedinthe

financialstatementsoftheperiodstowhichtheyrelate.

［單選題］32.Forfinancialassetsclassifiedasheldtomaturity,how

areunrealizedgainsandlossesreflectedinshareholders?equity?

A.Theyarenotlecognized.

B.Theyflowthroughretainedearnings.

C.Theyareacomponentofaccumulatedothercomprehensiveincome.

正確答案：A

參考解析：：Aiscorrect.Financialassetsclassifiedasheldto

maturityaremeasuredateimortisedcost.Gainsandlossesare

recognizedonlywhenrealized.

［單選題］33.SilveragoIncorporated,aninternationalmetalscompany,

reportedalossonthesaleofequipmentof$2millionin2018.In

addition,thecompany'sincomestatementshowsdepreciationexpense

of$8millionandthecashflowstatementshowscapitalexpenditure

of$10million,allofwhichwasforthepurchaseofnewequipment.

Usingthefollowinginformationfromthecomparativebalancesheets,

howmuchcashdidthecompanyreceivefromtheequipment

BalanceSheetItem1231/20171231/2018Change

Equipment$100millionS105million$5million

sale?Accumulateddepreciation-equipment$40million$46million$6million

A.$1million.

B.$2million.

C.$3million.

正確答案：A

參考解析：：Aiscorrect.Sellingprice(cashinflow)minusbook

valueequalsgainorlossonsale;therefore,gainorlossonsale

plusbookvalueequalssellingprice(cashinflow).Theamountof

lossisgiven一$2million.Tocalculatethebookvalueofthe

equipmentsold,findthehistoricalcostoftheequipmentandthe

accumulateddepreciationontheequipment.Beginningbalanceof

equipmentof$100millionplusequipmentpurchasedof$10million

minusendingbalanceofequipmentof$105millionequalsthe

historicalcostofequipmentsold,or$5million.Beginning

accumulateddepreciationof$40millionplusdepreciationexpensefor

theyearof$8millionminusendingbalanceofaccumulated

depreciationof$46millionequalsaccumulateddepreciationonthe

equipmentsold,or$2million.Therefore,thebookvalueofthe

equipmentsoldwas$5millionminus$2million,or$3million.

Becausethelossonthesaleofequipmentwas$2million,theamount

ofcashreceivedmusthavebeen$1million.

［單選題］34.Shureholdeis'equityrep3rlec1onthebalancesheetis

mostlikelytodifferfromthemarketvalueofshareholders?equity

because:

A.historicalcostbasisisusedforallassetsandliabilities.

B.somefactorsthataffectthegenerationoffuturecashflowsare

excluded.

C.shareholders?equityreportedonthebalancesheetisupdated

continuously.

正確答案：B

參考解析：：Biscorrect.Thebalancesheetomitsimportantaspects

ofacompany'sabilitytogeneratefuturecashflows,suchasits

reputationandmanagementskills.Thebalancesheetmeasuressome

assetsandliabilitiesbasedonhistoricalcostandmeasuresothers

basedoncurrentvalue.Marketvalueofshareholdersyequityis

updatedcontinuously.ShareholdersJequityreportedonthebalance

sheetisupdatedforreportingpurposesandrepresentsthevaluethat

wascurrentattheendofthereportingperiod.

［單選題］35.Whichstatementismostaccurate?Acommon-sizeincome

statement:

A.restateseachlineitemoftheincomestatementasapercentageof

netincome.

B.allowsananalysttoconductcross-sectionalanalysisbyremoving

theeffectofcompanysize.

C.standardizeseachlineitemoftheincomestatementbutfailsto

helpananalystidentifydifferencesincompanies'strategies.

正確答案：B

參考解析：：Biscorrect.Commonsizeincomestatementsfacilitate

comparisonacrosstimeperiods(time-seriesanalysis)andacross

companies(cross-sectionalanalysis)bystatingeachlineitemofthe

incomestatementasapercentageofrevenue.Therelativeperformance

ofdifferentcompaniescanbemoreeasilyassessedbecausescaling

thenumbersremovestheeffectofsize.Acommonsizeincome

statementstateseachlineitemontheincomestatementasa

percentageofrevenue.Thestandardizationofeachlineitemmakesa

commonsizeincomestatementusefulforidentifyingdifferencesin

companies'strategies.

［單選題］36.Adecreaseinassetswouldleastlikelybeconsistentwith

a(n):

A.increaseinexpenses.

B.decreaseinrevenues.

C.increaseincontributedcapital.

正確答案：C

參考解析：Theexpandedaccountingequationshowsthatassets=

liabilitiescontributedcapitalbeginningretainedearningsrevenue-

expenses-dividends.Adecreaseinassetsisconsistentwithan

increaseinexpensesoradecreaseinrevenuesbutnotwithan

increaseincontributedcapital.

［單選題］37,Ananalystgatheredthefollowinginformationfroma

companyJs2018financialstatements(in$millions):

Yearended31December*32017c2018/

Netsales*3245.8-254.6一

Costofsoodssold*1168.3P175.9-

Accountsreceivable^73.2368.3-

Inventory/39647.8-

Accountspayable^20.3"22.9PBasedonlyonthe

informationabove,thecompany?s2018statementofcashflowsinthe

directformatwouldincludeamounts(in$millions)forcashreceived

fromcustomersandcashpaidtosuppliers,respectively,thatare

closestto:

A.cashreceivedfromcustomers：249.7,cashpaidtosuppliers：

169.7

B.cashreceivedfromcustomers：259.5,cashpaidtosuppliers：

174.5

C.cashreceivedfromcustomers：259.5，cashpaidtosuppliers182.1

正確答案：C

參考解析：：Ciscorrect.Cashreceivedfromcustomers=Sales+

Decreaseinaccountsreceivable=254.6+4.9=259.5.Cashpaidto

suppliers=Costofgoodssold+Increaseininventory-Increasein

accountspayable=175.9+8.8-2.6=182.1.

［單選題］38.Whichofthefollowingcomponentsofthecashflow

statementmaybepreparedundertheindirectmethodunderbothIFRS

andUSGAAP?

A.Operating.

B.Investing.

C.Financing.

正確答案：A

參考解析：：Aiscorrect.Theoperatingsectionmaybeprepared

undertheindirectmethod.Theothersectionsarealwaysprepared

underthedirectmethod.

［單選題］39.Accruedexpenses(accruedliabilities)are:

A.expensesthathavebeenpaid.

B.createdwhenanotherliabilityisreduced.

C.expensesthathavebeenreportedontheincomestatementbutnot

yetpaid.

正確答案：C

參考解析：：Ciscorrect.Accruedliabilitiesareexpensesthathave

beenreportedonacompanyysincomestatementbuthavenotyetbeen

paid.

［單選題］40.MabelCorporation(MC)reportedaccountsreceivableof$66

millionattheendofitssecondfiscalquarter.MChadrevenuesof

$72millionforitsthirdfiscalquarterandreportedaccounts

receivableof$55millionattheendofitsthirdfiscalquarter.

Basedonthisinformation,theamountofcashMCcollectedfrom

customersduringthethirdfiscalquarteris:

A.$61million.

B.$72million.

C.$83million.

正確答案：C

參考角星析：：Ciscorrect.Theamountofcashcollectedfrom

customersduringthequarterisequaltobeginningaccounts

receivableplusrevenuesminusendingaccountsreceivable:$66

million+$72million-$55million=$83million.Areductionin

accountsreceivableindicatesthatcashcollectedduringthequarter

wasgreaterthanrevenueonanaccrualbasis.

［單選題］41.BasedonthefollowinginformationforStarInc.,whatare

thetotalnetadjustmentsthatthecompanywouldmaketonetincome

inordertoderiveoperatingcash

YearEnded

IncomeStatementItem12-31/2018

Netincome$20million

Depreciation$2million

BalanceSheetItem12-31/20171231/2018Change

Accountsreceivable$25million$22million($3million)

Inventory$10million$14million$4million

flow?Accountspayable$8million$13million$5million

A.Add$2million,

B.Add$6million.

C.Subtract$6million.

正確答案：B

參考解析；：Biscorrect.Toderiveoperatingcashflow,thecompany

wouldmakethefollowingadjustmentstonetincome:Adddepreciation

(anon-cashexpense)of$2million;addthedecreaseinaccounts

receivableof$3million;addtheincreaseinaccountspayableof$5

million;andsubtracttheincreaseininventoryof$4million.Total

additionswouldbe$10million,andtotalsubtractionswouldbe$4

million,whichgivesnetadditionsof$6million.

［單選題］42.RedRoadCompany,aconsultingcompany,reportedtotal

revenu