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COURSE EXAM ACTUAL EXAM
REAL QUESTIONS AND CORRECT ANSWERS (100%
CORRECT VERIFIED ANSWERS) A NEW UPDATED
VERSION |GUARANTEED PASS . CFI CBCA CORE
COURSE REAL EXAM
If a company issues 60,000 shares at $0.25 each but the shares have a par value of $0.20 each, what is the resulting contributed surplus?Answer- $3,000
What line item is not found in the statement of shareholders' equity?Answer- Debt issued or repurchased
What is not true about a partnership?Answer- Partners cannot be held liable for a debt
Which line item usually accounts for direct labor?Answer- Cost of goods sold
Select the statements below which are true. Select all that apply.Answer- Depreciation and amortization are non-cash expenses; A company can be profitable but experience negative cash flows
What are the 4 types of audit opinions?Answer- Adverse, unqualified, qualified, and disclaimer of opinion
Which of the following statements regarding a review engagement is false?Answer- A review engagement is used for financial statements prepared for internal use
Select the following key lending ratios used to evaluate the financial capacity of a business (select all that apply).Answer- Debt to equity ratio; Working capital ratio
Which of the following tools is NOT used to analyze a company?Answer- Porter's five forces
Which of the following tools are used to analyze a company?Answer- Firm lifecycle, Handoff’s matrix, SWOT analysis
In assessing the PESTEL factors, consumer disposable income
is an example of:
Answer- Economic factors
Read the following passage and determine which of the
PESTEL factors the described business is facing:
Fresh and Co. is a local grocery store operating in a small town in Seattle since 2010. The store sells fresh vegetables, fruits, meat, dairy, and other packaged products. In recent years, people in the neighborhood have shown increasing demand for organic farm products. In response, many other grocery stores and supermarkets have started selling organic vegetables and fruits grown by local US farmers.
Social factors
Read the following passage and determine which of the
PESTEL factors the described business is facing:
Mountain Transportation is a trucking company that provides in- door deliveries of electronic products purchased through large consumer electronics retailers in the US. Shawn, a truck driver at Mountain Transportation, has filed a lawsuit with the company regarding a violation of the Hours of Service regulations for commercial drivers. Shawn claims that he has been forced to work over 70 hours for the past couple weeks, due to a high volume of customer orders. According to the Hours of Service regulations, all commercial drivers may not drive after 60 hours on duty in 7 consecutive days and may only restart after taking 34 or more consecutive hours off duty.(Source: https://www.fmcsa.dot.gov/regulations/hours- service/summary-hours-service-regulations) Legal factors
When competition within an industry is high, which of the following is most likely to be true?Answer- Buyers have high bargaining power
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