Multiple Choice Questions (MCQs)

Questions: 1-19

1.  Identify the phrase that DOES NOT correctly complete the following sentence:  When using the 10-Q, the analyst should be aware that the usefulness of the quarterly financial statements might be affected by ___________________.

2.   The primary responsibility for fair and accurate financial reporting rests with the ________.

3.   Some key SEC filings are:

4.   10-K Reports are:

5.   The two primary qualities of accounting information to make it useful for decision making are ____________.

6.   Which of the following would require the filing of Form 8-K?

7.   A strategy for earnings management is:

8.   Which of the following information would not be filed with the SEC by a publicly traded company?

9.   Net income is usually higher than:

10.  One way for a company to increase its book value per share is to:

11.  Which of the following statements about stock dividends is true?

12.  Minority interest appears on the balance sheet of some companies. Minority interest:

13.  If a company that leases equipment from another company records these leases as operating leases rather than capital leases, its:

14.  If a company engages in off-balance sheet financing, generally the effect is:

15.  Which of the following statement concerning contingencies is correct?

16.  Which of the following is not a component of pension expense?

17.  Which of the following is not a component of pension cost under defined benefit plans?

18.  When considering defined benefit pension plans, which of the following will not increase the projected benefit obligation (PBO)?

19.  If a company leases equipment to other companies to other companies and records these leases as operating leases rather than capital leases, its: