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ABA CTFA Practice Test - Questions Answers, Page 7

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Question 61

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It is actually a method of preparing financial statements in which only transactions involving actual cash outlays are recorded.

Cash basis
Cash basis
Expense
Expense
Equity
Equity
Cash deficit
Cash deficit
Suggested answer: A
asked 16/09/2024
Hassene SAADI
45 questions

Question 62

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An excess amount of expense over income resulting in insufficient funds as well as in decreased net value is called:

Cash deficit
Cash deficit
Limited Liability
Limited Liability
Cash basis
Cash basis
Net worth
Net worth
Suggested answer: A
asked 16/09/2024
James Joiner
36 questions

Question 63

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Total liquid assets divided by total current debts; measures the ability to pay current debts. It is:

Solvency ratio
Solvency ratio
Liquidity ratio
Liquidity ratio
Savings ratio
Savings ratio
Debt service ratio
Debt service ratio
Suggested answer: B
asked 16/09/2024
Mario Peralta
40 questions

Question 64

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Total net worth divided by total assets; measures the degree of exposure to insolvency is:

Solvency ratio
Solvency ratio
Liquidity ratio
Liquidity ratio
Savings ratio
Savings ratio
Debt service ratio
Debt service ratio
Suggested answer: A
asked 16/09/2024
rami Awad
40 questions

Question 65

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Cash surplus divided by net income (after tax); indicates relative amount of cash surplus achieved during a given period is:

Solvency ratio
Solvency ratio
Liquidity ratio
Liquidity ratio
Savings ratio
Savings ratio
Debt service ratio
Debt service ratio
Suggested answer: C
asked 16/09/2024
Sterling White
50 questions

Question 66

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Total monthly loan payments divided by monthly gross (before-tax) income; provides a measure of the ability to pay debts promptly is:

Solvency ratio
Solvency ratio
Liquidity ratio
Liquidity ratio
Savings ratio
Savings ratio
Debt service ratio
Debt service ratio
Suggested answer: D
asked 16/09/2024
Swen Leuning
57 questions

Question 67

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A cash budget is the valuable money management tool that helps you EXCEPT:

Maintain the necessary information to monitor and control your finances
Maintain the necessary information to monitor and control your finances
Decide how to allocate your income to reach your financial goals
Decide how to allocate your income to reach your financial goals
Implement a system of disciplined spending-as opposed to just existing from one paycheck to the next
Implement a system of disciplined spending-as opposed to just existing from one paycheck to the next
Enhance needles spending so you can increase the funds allocated to savings and investments
Enhance needles spending so you can increase the funds allocated to savings and investments
Suggested answer: D
asked 16/09/2024
Aziz ZENNOUN
57 questions

Question 68

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Budget control schedule is:

A summary that shows how actual income and expenses compare with the various budget categories
A summary that shows how actual income and expenses compare with the various budget categories
A summary that shows how actual income and expenses compare with the various budget categories and where variances (surplus or deficit) exist
A summary that shows how actual income and expenses compare with the various budget categories and where variances (surplus or deficit) exist
A graphical presentation of cash flows
A graphical presentation of cash flows
The interest earned each year
The interest earned each year
Suggested answer: B
asked 16/09/2024
C/1094 WOLOGUEDE COTONOU – BENIN NDENDE
41 questions

Question 69

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'Shareholder wealth' in a firm is represented by:

The number of people employed in the firm
The number of people employed in the firm
The book value of the firm's assets less the book value of its liabilities
The book value of the firm's assets less the book value of its liabilities
The amount of salary paid to its employees
The amount of salary paid to its employees
The market price per share of the firm's common stock
The market price per share of the firm's common stock
Suggested answer: D
asked 16/09/2024
PRIYANK SAXENA
54 questions

Question 70

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The long-run objective of financial management is to:

Maximize earnings per share
Maximize earnings per share
Maximize the value of the firm's common stock
Maximize the value of the firm's common stock
Maximize return on investment
Maximize return on investment
Maximize market share
Maximize market share
Suggested answer: B
asked 16/09/2024
Danilo Romelli
66 questions
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