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FIN 324 Final Exam Guide, Set of 10 Multiple Choice and True/False Question
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Discuss the difference between Certified Public Accountants (CPAs) and Certified
Managerial Accountants (CMAs)
Is there a difference between cash and income? Is one more important than the
other?
What is the benefit of cross functional training where it relates to the accounting
function?
Discuss the two different financial statements. Describe their purpose, layout, and
relationship to another financial statement.
Describe the relationship between debt and equity on balance sheet and financing
activities on cash flow statement.
What is the difference between operating and financial leverage? Can there be too
much financial leverage in a firm? Why or why not?
Should a company have more debt or more equity in its capital structure? Explain
What are three U.S. stock exchanges where equities are publicly traded? Why may a
stock split not be of great value to existing shareholders? How can a dividend policy
be amended to address shareholders expectations of increasing returns?
How have recent zero money down and zero money interest for 12 months offers
affected potential cash buyers?
How does extending credit affect working capital requirements and the cash
conversion period?
The chief executive officer of your organization has asked you to compare the
organization you are thinking of acquiring with a competitor. Obtain financial
statements for the organization under investigation and its competitor, and perform
the following tasks:
Prepare a 700- to 1,050-word summary comparing the organizations
What is the difference between stocks and bonds? Which represents more risk to the
organization?
Does an organization receive money when its stock is traded in the secondary
market?