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Financial Reporting Fundamentals Test
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Financial Reporting Fundamentals Test
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25 Questions

1. True or False? Charitable organizations that are required to publish financial statements do not produce income statements. Instead they publish statement of activities.
2. What was the purpose of the Sarbanes-Oxley Act of 2002?
3. True or False? Financial reports are not important in making investment decisions.
4. How do you calculate market capitalization?
5. True or false? Operating margin is a good tool when deciding to invest in a company.
6. Financial reports are used to find:
7. Net profit margin =
8. Who typically needs to approve a financial statement when they are a SEC filing?
9. True or False? The SEC and FASB have similar duties.
10. True or False? Financial reporting is not needed by small companies listed on the OTC bulletin board.
11. What do you obtain from this expression: (Earnings After Tax / Net Profit After Tax) - Payable Dividends
12. The revenue recognition principle is:
13. True or False: The asset turnover ratio measure the firm's efficient use of its liabilities in generating sales income?
14. The balance sheet is also referred to as what?
15. Which of the following are not considered financial reports?
16. Current Dividend Yield = ?
17. True of False? Financial statements need to be audited.
18. The GAAP is comprised of:
19. Operational efficiency is measured by which part of the DuPont ratio?
20. The SEC usually deals with:
21. True or False? There are three basic types of accounting models?
22. True or False? A personal financial statement is useful when trying to obtain a loan.
23. The DuPont Analysis measures breaks down the Return of Equity into how many parts?
24. A 10Q is a financial report for a company that is given
25. Nowadays most financial statements can be found on

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