Financial statement analysis: ratio, funds flow, cash flow - Question Bank

1. Which ratio measures the profitability of a company relative to its total assets?
A) Return on Assets (ROA)
B) Return on Equity (ROE)
C) Net Profit Margin
D) Gross Profit Margin
2. The formula for the Debt-to-Equity Ratio is:
A) Total Debt / Total Shareholders' Equity
B) Current Liabilities / Shareholders' Equity
C) Total Assets / Total Debt
D) Operating Income / Interest Expense
3. A company with a high inventory turnover ratio generally indicates:
A) Efficient inventory management and strong sales
B) Slow-moving inventory
C) Potential for stockouts
D) Excessive inventory levels
4. The ratio of Current Assets to Current Liabilities is known as the:
A) Current Ratio
B) Quick Ratio
C) Working Capital Ratio
D) Liquidity Ratio
5. Under the indirect method, an increase in accounts payable is added to net income because:
A) It represents cash generated from operations without a corresponding outflow
B) It increases profitability
C) It is a non-cash item
D) It is a financing activity
6. Which section of the cash flow statement includes transactions like issuing stock or paying dividends?
A) Financing Activities
B) Operating Activities
C) Investing Activities
D) Non-cash Activities
7. In a funds flow statement, 'payment of dividend' is considered a:
A) Use of funds
B) Source of funds
C) Financing activity
D) Operating adjustment
8. Funds Flow Statement reconciles the beginning and ending balance of:
A) Working Capital
B) Cash
C) Total Assets
D) Shareholders' Equity
9. The formula for Net Profit Margin is:
A) Net Income / Sales
B) Gross Profit / Sales
C) Operating Income / Sales
D) Net Income / Total Assets
10. A company's ability to pay its long-term obligations is best assessed by which type of ratio?
A) Solvency Ratio
B) Liquidity Ratio
C) Profitability Ratio
D) Activity Ratio
11. The Earnings Per Share (EPS) ratio is calculated as:
A) Net Income / Weighted Average Number of Outstanding Shares
B) Net Income / Total Equity
C) Profit Before Tax / Sales
D) Gross Profit / Cost of Goods Sold
12. Which of the following is typically classified as a cash inflow from investing activities?
A) Sale of property, plant, and equipment
B) Issuance of common stock
C) Payment of dividends
D) Repayment of long-term debt
13. Under the indirect method, a gain on the sale of an asset is subtracted from net income because:
A) It is a non-operating item and does not represent cash from core operations
B) It reduces the overall profitability
C) It is a cash inflow from investing activities
D) It is a non-cash gain
14. The Cash Flow Statement is prepared based on the principles of:
A) Accrual accounting
B) Cash basis accounting
C) Modified cash basis accounting
D) Mercantile accounting
15. Which of the following is a source of funds?
A) Payment of income tax
B) Purchase of investments
C) Redemption of debentures
D) Issue of bonus shares
16. An increase in a current asset (e.g., accounts receivable) in a funds flow statement signifies:
A) A use of funds
B) A source of funds
C) No impact on funds
D) A reduction in cash
17. Which financial statement is primarily used to analyze the sources and applications of working capital?
A) Funds Flow Statement
B) Cash Flow Statement
C) Balance Sheet
D) Income Statement
18. A high profit margin indicates:
A) The company retains a larger portion of each sales dollar as profit
B) The company is generating high sales volume
C) The company is efficiently managing its assets
D) The company has a low level of debt
19. The formula for the Receivables Turnover Ratio is:
A) Net Credit Sales / Average Accounts Receivable
B) Total Sales / Average Accounts Receivable
C) Net Credit Sales / Accounts Receivable
D) Cash Sales / Average Accounts Receivable
20. Which ratio helps in assessing the operational efficiency of a company's inventory management?
A) Inventory Turnover Ratio
B) Days Sales Outstanding
C) Current Ratio
D) Gross Profit Ratio
21. When using the indirect method, an increase in inventory is subtracted from net income because:
A) It represents cash used to acquire more inventory
B) It is a non-cash expense
C) It reduces operating income
D) It is a financing activity
22. Which of the following is a cash outflow from financing activities?
A) Payment of dividends to shareholders
B) Sale of treasury stock
C) Issuance of new bonds
D) Collection of loan principal
23. Under the direct method, cash paid to suppliers is calculated by adjusting Cost of Goods Sold for:
A) Changes in inventory and accounts payable
B) Depreciation expense
C) Changes in fixed assets
D) Interest income
24. The objective of preparing a cash flow statement is to provide insights into:
A) The company's ability to generate cash
B) The company's long-term solvency
C) The company's operational efficiency
D) The company's market value
25. Which of the following is a common use of funds?
A) Payment of preliminary expenses
B) Profit on sale of assets
C) Increase in share capital
D) Redemption of preference shares
26. In a funds flow statement, 'decrease in bills payable' would be treated as:
A) A use of funds
B) A source of funds
C) Neither source nor use
D) An adjustment to profit
27. A decrease in Working Capital signifies:
A) A potential strain on liquidity
B) An improvement in profitability
C) Increased efficiency in asset utilization
D) A reduction in long-term debt
28. The Cash Conversion Cycle (CCC) measures the time it takes for a company to:
A) Convert its investments in inventory and other resources into cash flows from sales
B) Pay off its long-term debts
C) Generate profits from its operations
D) Meet its short-term obligations
29. Which ratio measures how efficiently a company is using its assets to generate sales?
A) Asset Turnover Ratio
B) Return on Assets
C) Profit Margin
D) Equity Turnover Ratio
30. The formula for the Gross Profit Margin is:
A) (Sales - Cost of Goods Sold) / Sales
B) Net Income / Sales
C) Operating Income / Sales
D) Gross Profit / Cost of Goods Sold
31. A company with a low inventory turnover ratio might indicate:
A) Slow-moving inventory or obsolescence
B) Efficient inventory management
C) High sales volume
D) Strong demand for products
32. The Quick Ratio is also known as the:
A) Acid-Test Ratio
B) Current Ratio
C) Leverage Ratio
D) Profitability Ratio
33. Which ratio is calculated as Sales / Average Total Assets?
A) Asset Turnover Ratio
B) Inventory Turnover Ratio
C) Receivables Turnover Ratio
D) Current Ratio
34. A decrease in accounts payable would be treated as a _______ in the operating activities section (indirect method) of a cash flow statement.
A) Deduction
B) Addition
C) No adjustment
D) Investing outflow
35. The primary purpose of a cash flow statement is to provide information about:
A) The cash receipts and cash payments of an entity
B) The profitability of an entity
C) The financial position of an entity
D) The changes in equity of an entity
36. Which of the following activities would result in a cash inflow from financing activities?
A) Issuance of bonds
B) Repurchase of stock
C) Payment of interest
D) Purchase of treasury stock
37. Depreciation expense is added back to net income when using the indirect method because:
A) It is a non-cash expense
B) It reduces taxable income
C) It increases operating cash flow
D) It is a financing activity
38. Under the indirect method, net income is adjusted for non-cash expenses and revenues, and changes in:
A) Working capital accounts
B) Long-term assets
C) Long-term liabilities
D) Equity accounts
39. Which of the following is typically classified as a cash outflow from investing activities?
A) Purchase of property, plant, and equipment
B) Issuance of common stock
C) Payment of dividends
D) Repayment of long-term debt
40. Under the direct method of preparing the operating activities section of a cash flow statement, cash receipts from customers are calculated by adjusting sales revenue for:
A) Changes in accounts receivable and unearned revenue
B) Depreciation and amortization
C) Changes in inventory
D) Interest expense
41. A cash flow statement classifies cash movements into three main activities: Operating, Investing, and:
A) Financing
B) Trading
C) Manufacturing
D) Administrative
42. Which of the following items would be considered a 'use' of funds in a funds flow statement?
A) Redemption of debentures
B) Increase in creditors
C) Depreciation
D) Issue of bonus shares
43. If a company purchases machinery for cash, this would be shown as a _______ of funds in the funds flow statement.
A) Use
B) Source
C) Neither source nor use
D) Financing activity
44. The primary objective of a funds flow statement is to show:
A) The sources and uses of working capital
B) The net change in cash
C) Profitability over a period
D) The company's market share
45. Which of the following is NOT a source of funds in a funds flow statement?
A) Issue of shares
B) Sale of fixed assets
C) Payment of dividend
D) Profit on sale of investments
46. In a funds flow statement, an increase in current assets (other than cash) and an increase in current liabilities would typically:
A) Increase working capital
B) Decrease working capital
C) Have no effect on working capital
D) Increase cash flow
47. Funds flow statement primarily focuses on the movement of:
A) Working Capital
B) Cash only
C) Fixed Assets
D) Long-term Debt
48. Which ratio is used to assess a company's ability to pay interest on its outstanding debt?
A) Interest Coverage Ratio
B) Dividend Payout Ratio
C) Inventory Turnover Ratio
D) Asset Turnover Ratio
49. The formula for Return on Equity (ROE) is:
A) Net Income / Shareholders' Equity
B) Operating Income / Total Assets
C) Net Income / Sales
D) Gross Profit / Cost of Goods Sold
50. A high Debt-to-Equity Ratio generally indicates:
A) Low financial risk and conservative financing
B) High financial risk and reliance on debt financing
C) Excellent profitability and operational efficiency
D) Strong liquidity and short-term solvency