Financial Statement Analysis and Interpretation – Test Bank - Financial Accounting 11e | Test Bank with Answer Key by John Hoggett by John Hoggett, Lew Edwards, John Medlin, Keryn Chalmers, Andreas Hellmann, Claire Beattie, Jodie Maxfield. DOCX document preview.
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Testbank
to accompany
Accounting
11th edition
by
Hoggett et al.
© John Wiley & Sons Australia, Ltd 2020
Chapter 19: Analysis and interpretation of financial statements
Multiple-choice questions
1. Which of the following are sources of financial information about companies?
I. Published financial statements (annual reports)
II. The Internet
III. The Stock Exchange
IV. Financial newspapers and journals
V. Financial advisory services
a. I, II, III, IV
b. I, III, IV, V
c. I, II, III, IV, V
d. II, III, IV, V
General Feedback:
Learning objective 19.1: obtain information about entities for the purpose of analysing their performance and financial position.
2. Besides the information in annual reports, which of the following are sources of financial information about companies that are useful for analysing their performance and financial position?
I. The Internet
II. The Stock Exchange
III. Financial newspapers and journals
IV. Stock brokers
V. Information on competitors
a. I, II, III, IV and V
b. I, II and III only
c. II, IV and V only
d. II, III, IV and V only
General Feedback:
Learning objective 19.1: obtain information about entities for the purpose of analysing their performance and financial position.
3. Which of the following are possible uses of financial analysis?
I. By shareholders to assess future profitability and financial stability
II. By management for planning and control
III. By financial analysts to predict future share price
IV. By the government to estimate taxation payable
a. I and IV
b. III and IV
c. II, III and IV
d. I, II and III only
General Feedback:
Learning objective 19.2: identify the need for using various analytical techniques to assess an entity's performance and financial position
4. Financial stability refers to the ability of an entity to:
a. achieve a high rate of profit.
b. minimise expenses.
c. increase market share.
d. meet long-term obligations.
General Feedback:
Learning objective 19.2: identify the need for using various analytical techniques to assess an entity's performance and financial position.
5. To be useful for decision making, absolute dollar amounts in financial statements need to be compared with other information. Which of the following are possible comparisons?
I. Prior year results
II. Current year sales, total assets etc.
III. Results of similar businesses or industry averages
a. II and III only
b. I and II only
c. I, II and III
d. None of the options are possible comparisons
General Feedback:
Learning objective 19.2: identify the need for using various analytical techniques to assess an entity's performance and financial position.
6. analysis measures an entity's financial structure and its ability to continue to operate into the future and meet its long-term cash obligations.
a. financial stability
b. liquidity
c. trend
d. working capital
General Feedback:
Learning objective 19.2: identify the need for using various analytical techniques to assess an entity's performance and financial position.
7. Richmond Co performed a trend analysis at the end of the financial period. Which of the following changes appears to be the most significant in requiring further investigation?
a. An increase in accounts receivable of 4%.
b. An increase in 14% for bad debts written off
c. An increase in revenues of 18%.
d. An increase in total assets of 6%.
General Feedback:
Learning objective 19.2: identify the need for using various analytical techniques to assess an entity's performance and financial position.
8. Swift Removals has the following data available.
Sales $600 000
Selling expenses 180 000
Profit 90 000
Using vertical analysis, express selling expenses as a percentage of the base amount.
a. 30%
b. 45%
c. 40%
d. 15%
General Feedback:
Learning objective 19.3: prepare horizontal, trend and vertical analyses of an entity's financial statements and be able to interpret these analyses.
Feedback: 30% = Selling expenses/sales = $180 000/$600 000.
9. statements are those financial statements in which each item is stated as a percentage of a specific base item in the same statement.
a. common size
b. comparative
c. base rate
d. general purpose
General Feedback:
Learning objective 19.3: prepare horizontal, trend and vertical analyses of an entity's financial statements and be able to interpret these analyses.
10. In a trend analysis of Lester Company, which of the following changes appear to be the most significant in requiring further investigation?
a. A decrease of 4% in motor vehicle expenses.
b. An increase in revenue of 12%.
c. An increase in total assets of 5%.
d. An increase of 15% in borrowing costs.
General Feedback:
Learning objective 19.3: prepare horizontal, trend and vertical analyses of an entity's financial statements and be able to interpret these analyses.
11. Vertical analysis of a statement of financial position usually:
a. calculates each statement of financial position item as a percentage of share capital.
b. calculates each statement of financial position item as a percentage of total assets (funds).
c. calculates each statement of financial position item as a percentage of the bank balance.
d. calculates each statement of financial position item as a percentage of sales.
General Feedback:
Learning objective 19.3: prepare horizontal, trend and vertical analyses of an entity's financial statements and be able to interpret these analyses.
12. The statement of financial position for North Ltd has the following balances:
Current asset $160 000
Long-term assets 340 000
Current liabilities 55 000
Long-term liabilities 145 000
Share capital 200 000
Retained earnings 100 000
The equity ratio is:
a. 45%.
b. 40%.
c. 55%.
d. 60%.
General Feedback:
Learning objective 19.4 conduct ratio analysis to assess an entity's profitability, liquidity, and financial stability.
Feedback: ($200 000 + $100 000)/($160 000 + $340 000)100
13. Ratios are normally divided into three general groups, which of these is not one of those groups?
a. Financial stability ratios
b. Profitability ratios
c. Liability ratios
d. Liquidity ratios
General Feedback:
Learning objective 19.4 conduct ratio analysis to assess an entity's profitability, liquidity, and financial stability.
14. Financial ratios are used for all the following purposes except:
a. by shareholders to assess profitability
b. by taxation authorities to determine the amount of tax payable.
c. by creditors to monitor liquidity.
d. by management for planning and control.
General Feedback:
Learning objective 19.4 conduct ratio analysis to assess an entity's profitability, liquidity, and financial stability.
15. Profit before finance costs and taxation divided by average total assets is the formula for:
a. earnings per share.
b. profit margin.
c. return on total assets.
d. dividend yield.
General Feedback:
Learning objective 19.4 conduct ratio analysis to assess an entity's profitability, liquidity, and financial stability.
16. The calculation for dividend yield on ordinary shares is:
a. dividend per share divided by market price per share.
b. annual dividend divided by number of ordinary shares.
c. market price divided by dividend per share.
d. annual dividend divided by earnings.
General Feedback:
Learning objective 19.4 conduct ratio analysis to assess an entity's profitability, liquidity, and financial stability.
17. Which of the following ratios measure the relationship between debt and equity?
I. The debt ratio
II. The current ratio
III. The equity (proprietorship) ratio
IV. The leverage ratio (total assets/total equity)
a. I and III only
b. III and IV only
c. I, III and IV only
d. I, II, III and IV
General Feedback:
Learning objective 19.4 conduct ratio analysis to assess an entity's profitability, liquidity, and financial stability.
18. Which of the following statements is incorrect?
a. Dividend per share is the ratio to use when comparing income from shares with income from alternative investments.
b. Dividend yield is an important ratio for an investor who is acquiring shares mainly for income.
c. Dividend yield measures the rate of return on the market price of a share.
d. The dividend payout ratio measures the percentage of profit paid out in dividends to ordinary shareholders.
General Feedback:
Learning objective 19.4 conduct ratio analysis to assess an entity's profitability, liquidity, and financial stability.
19. Which of the following ratios would be the most helpful to an investor who is investing in ordinary shares primarily for dividends rather than for appreciation in market price?
a. current ratio.
b. rate of return on ordinary equity.
c. return on total assets.
d. dividend yield
General Feedback:
Learning objective 19.4 conduct ratio analysis to assess an entity's profitability, liquidity, and financial stability.
20. The current (working capital) ratio is calculated by dividing:
a. current assets by current liabilities.
b. revenue by current assets.
c. profit by current assets.
d. current liabilities by current assets.
General Feedback:
Learning objective 19.4 conduct ratio analysis to assess an entity's profitability, liquidity, and financial stability.
21. The following ratios are measures of aspects of a firm's profitability, except for:
a. dividend yield
b. earnings yield.
c. current ratio.
d. return on total assets.
General Feedback:
Learning objective 19.4 conduct ratio analysis to assess an entity's profitability, liquidity, and financial stability.
22. Possible explanations for inadequate profitability include all of the following except for:
a. borrowing costs too low.
b. selling prices are too low.
c. excessive investment in assets in relation to revenues.
d. expenses are too high.
General Feedback:
Learning objective 19.4 conduct ratio analysis to assess an entity's profitability, liquidity, and financial stability.
23. A profit ratio for a retailer of 8.2% in 2023 compared to 7.6% in 2022 indicates:
a. impending bankruptcy.
b. a declining profit margin.
c. an improving profit margin.
d. no change in the profit margin.
General Feedback:
Learning objective 19.4 conduct ratio analysis to assess an entity's profitability, liquidity, and financial stability.
24. The formula for the profit margin ratio is:
a. profit after tax divided by revenues.
b. gross profit divided by net sales.
c. profit after tax divided by total assets.
d. revenue divided by profit.
General Feedback:
Learning objective 19.4 conduct ratio analysis to assess an entity's profitability, liquidity, and financial stability.
25. When calculating the rate of return on total assets the interest is added back to profit before tax:
a. because interest rates are variable over time.
b. to indicate to lenders that some risk is involved.
c. to reflect the fact that the efficient use of resources should be examined independently from the method of financing.
d. because it must be paid regardless of profits.
General Feedback:
Learning objective 19.4 conduct ratio analysis to assess an entity's profitability, liquidity, and financial stability.
26. is calculated as annual dividend per ordinary share divided by market price per ordinary share.
a. dividend per share.
b. dividend payout ratio.
c. earnings per share.
d. dividend yield.
General Feedback:
Learning objective 19.4 conduct ratio analysis to assess an entity's profitability, liquidity, and financial stability.
27. Amazing Lights Ltd has the following amounts on its statement of financial position at year-end.
Current assets $ 300 000
Long-term assets 900 000
Current liabilities 250 000
Long-term liabilities 450 000
Share capital 400 000
Retained earnings 100 000
The debt ratio at year-end is:
a. 58.33%
b. 37.50%
c. 50.00%
d. 41.67%
General Feedback:
Learning objective 19.4 conduct ratio analysis to assess an entity's profitability, liquidity, and financial stability.
Feedback: 58.33% = total liabilities/total assets = $700 000/$1 200 000.
28. In relation to the price-earnings ratio (P/E ratio), which statement is incorrect?
a. A P/E ratio of 5.2 means that the shares of the company are selling at 5.2 times current profits.
b. Higher P/E ratios tend to be associated with growth companies.
c. It measures how much investors are willing to pay for each dollar of earnings.
d. As expectations of future profits increase, the P/E ratio tends to fall.
General Feedback:
Learning objective 19.4 conduct ratio analysis to assess an entity's profitability, liquidity, and financial stability.
29. Using borrowed funds in an attempt to earn a return greater than the cost of borrowing is referred to as:
a. overdraft financing.
b. capital budgeting.
c. equity funding.
d. gearing or leverage.
General Feedback:
Learning objective 19.4 conduct ratio analysis to assess an entity's profitability, liquidity, and financial stability.
30. Trends in ratios that measure the relationship between debt and equity provide information about which (if any) of the following?
I. Long term stability
II. Degree of risk in using debt financing
III. Margin of safety to creditors in the event of liquidation
a. I, II and III
b. II and III only
c. I and II only
d. None.
General Feedback:
Learning objective 19.4 conduct ratio analysis to assess an entity's profitability, liquidity, and financial stability.
31. Which of the following businesses is likely to have the highest inventory turnover ratio?
a. car dealership.
b. music shop.
c. jeweller.
d. fish and chip shop.
General Feedback:
Learning objective 19.4 conduct ratio analysis to assess an entity's profitability, liquidity, and financial stability.
32. Which statement concerning earnings per share is incorrect?
a. In calculating earnings per ordinary share, preference dividends are deducted from profit.
b. Earnings per share is regarded as one of the least important financial ratios.
c. If profits increase earnings per share could still decrease if share capital increases at a greater rate than profits.
d. It represents a conversion of the absolute dollar amount of profit to a per share basis.
General Feedback:
Learning objective 19.4 conduct ratio analysis to assess an entity's profitability, liquidity, and financial stability.
33. Which of the following ratios measure the adequacy of profits?
I. Profit compared to sales
II. Profit compared to equity
III. Profit compared to total assets
IV. Profit before interest and finance costs/ finance costs
a. I, III and IV
b. I, II and III only
c. I and II only
d. II and IV
General Feedback:
Learning objective 19.4 conduct ratio analysis to assess an entity's profitability, liquidity, and financial stability.
34. Calculate the dividend yield for the year ending 30 June 2023 using the following information: interim dividend was 8c per ordinary share; the final dividend 12c per share; and the market price per share on 30 June 2023 was $6.00.
a. 33.33%.
b. 30.00%.
c. 3.33%.
d. 2.18%.
General Feedback:
Learning objective 19.4 conduct ratio analysis to assess an entity's profitability, liquidity, and financial stability.
Feedback: 3.33% = (8c + 12c) /$6.00
35. The formula to calculate receivables (debtors) turnover in times per annum is:
a. Net sales revenue divided by average receivables balance
b. Net sales revenue divided by total assets
c. Average receivables balance divided by net sales revenue
d. 365 divided by net sales.
General Feedback:
Learning objective 19.4 conduct ratio analysis to assess an entity's profitability, liquidity, and financial stability
36. Profit before finance costs is used in calculating return on total assets because:
a. it is simpler to calculate than profit after deducting finance costs.
b. the efficient use of resources should be examined independently of the method of financing.
c. interest is a tax deduction for a company.
d. interest rates are hard to predict.
General Feedback:
Learning objective 19.4 conduct ratio analysis to assess an entity's profitability, liquidity, and financial stability.
37. The profit margin ratio measures:
a. the rate of return on total assets.
b. the proportion of each sales dollar that represents profit.
c. the difference between the purchase price and the selling price of inventory.
d. return to shareholders.
General Feedback:
Learning objective 19.4 conduct ratio analysis to assess an entity's profitability, liquidity, and financial stability.
38. Johnson Foods Company had a before-tax profit of $250 000 after deducting interest expenses of $18 000. Johnson Foods' liabilities and equity total $1 875 000. Return on total assets, before finance costs and tax is:
a. 12.37%.
b. 14.29%.
c. 13.33%.
d. unable to be calculated from the information provided.
General Feedback:
Learning objective 19.4 conduct ratio analysis to assess an entity's profitability, liquidity, and financial stability.
Feedback: ([$250 000 + $18 000]/$1 875 000) × 100/1
39. Profit less income tax, divided by revenue, is the formula for:
a. earnings per share
b. return on assets.
c. return on equity.
d. profit margin..
General Feedback:
Learning objective 19.4 conduct ratio analysis to assess an entity's profitability, liquidity, and financial stability
40. Which P/E ratios and earnings yields do not match?
a. P/E ratio 4; earnings yield 25%
b. P/E ratio 8; earnings yield 12.5%
c. P/E ratio 6; earnings yield 15 %
d. P/E ratio 10; earnings yield 10%
General Feedback:
Learning objective 19.4 conduct ratio analysis to assess an entity's profitability, liquidity, and financial stability.
Feedback: The P/E ratio x the earnings yield equals 100, i.e. the PE ratio is the reciprocal of the earnings yield. If the P/E ratio is 6; the earnings yield is 16.67% not 15 %
41. The following ratios are indicators of profitability except for:
a. profit margin.
b. capitalisation ratio.
c. return on equity.
d. earnings per share.
General Feedback:
Learning objective 19.4 conduct ratio analysis to assess an entity's profitability, liquidity, and financial stability.
42. Using the following information, calculate the price-earnings ratio of the shares for the current year.
Per share
Carrying value on 31 December, current year $20
Quoted market value on 31 December, current year 25
Earnings per share for the current year 5
Dividend per share for the current year 2
a. 12.5 to 1.
b. 10 to 1.
c. 5 to 1.
d. 4 to 1.
General Feedback:
Learning objective 19.4 conduct ratio analysis to assess an entity's profitability, liquidity, and financial stability.
Feedback: $25/$5
43. The average market price of Lavendar Ltd's ordinary shares is $5.40 and the earnings per ordinary share are 90c. The P/E ratio is:
a. 16.67
b. 6.0
c. 4.86
d. unable to be calculated from the information provided.
General Feedback:
Learning objective 19.4 conduct ratio analysis to assess an entity's profitability, liquidity, and financial stability.
Feedback: (6.0= $5.40 / $0.90)
44. The debt ratio measures:
a. liquidity.
b. profits earned in relation to debt.
c. the proportion of assets financed by borrowing.
d. the time taken to collect debts.
General Feedback:
Learning objective 19.4 conduct ratio analysis to assess an entity's profitability, liquidity, and financial stability.
45. The quick (acid test) ratio reflects:
a. the relationship of quick assets to fixed assets.
b. the belief that not all current assets can be liquidated immediately.
c. management's reaction time to avoid losses.
d. the same information as the debt ratio.
General Feedback:
Learning objective 19.4 conduct ratio analysis to assess an entity's profitability, liquidity, and financial stability.
46. Windbreaker Limited has a current ratio of 2.5:1. Which of the following actions will decrease this ratio?
a. Issue of long-term debentures
b. Sale of a machine for cash
c. Collection of an account receivable
d. Declaration of a dividend
General Feedback:
Learning objective 19.4 conduct ratio analysis to assess an entity's profitability, liquidity, and financial stability.
Feedback: Current assets stay the same and current liabilities increase.
47. Which of the following businesses would be expected to have the fastest inventory turnover?
a. Fruit and vegetable store
b. Clothing retailer
c. Luxury car showroom
d. Jewellery store selling custom-made jewellery
General Feedback:
Learning objective 19.4 conduct ratio analysis to assess an entity's profitability, liquidity, and financial stability.
48. The following information is included in the financial statements of Monty's Mechanics:
Total assets $ 600 000
Profit 90 000
Current liabilities 320 000
If current assets = 40% of total assets the current ratio for Monty's Mechanics is:
a. 1.88 to 1
b. 0.53 to 1
c. 0.75 to 1
d. 1.33 to 1
General Feedback:
Learning objective 19.4 conduct ratio analysis to assess an entity's profitability, liquidity, and financial stability.
Feedback: ([$600 000 × 40%]/320 000)
49. When calculating the quick (acid test) ratio, which of the following is normally deducted from current assets?
a. Inventory and accounts receivable
b. Cash and prepayments
c. Current liabilities
d. Inventory and prepaid expenses
General Feedback:
Learning objective 19.4 conduct ratio analysis to assess an entity's profitability, liquidity, and financial stability.
50. Aster Limited has a current ratio of 1.75 to 1 and current liabilities of $20 000. If Aster Limited's inventory is $8 000 the quick ratio is:
a. 1.35 to 1
b. 0.74 to 1
c. 1.4 to 1
d. 1.75 to 1
General Feedback:
Learning objective 19.4 conduct ratio analysis to assess an entity's profitability, liquidity, and financial stability.
Feedback: Current assets are $20 000 × 1.75 = $35 000. Quick assets are $35 000 - $8 000 = $27 000, therefore the quick ratio is $27 000/$20 000 = 1.35 to 1.0
51. The proportion of borrowed funds compared to equity is a measure of:
a. leverage
b. liquidity
c. equity
d. borrowings
General Feedback:
Learning objective 19.4 conduct ratio analysis to assess an entity's profitability, liquidity, and financial stability.
52. Buyer Co has ordered goods on credit from Seller Co. Before Seller ships the goods, it would like to be sure that Buyer will be able to pay for them within the normal credit period. Assuming Seller has access to Buyer's financial statements, which of the following ratios will be of the most interest to Seller Co.?
a. Dividend yield ratio
b. Debt ratio
c. Current ratio
d. Price earnings ratio
General Feedback:
Learning objective 19.4 conduct ratio analysis to assess an entity's profitability, liquidity, and financial stability.
53. At 31 December 2023, Friar Company's financial statements include the following information:
Net sales for 2023 $210 000
Cost of sales for 2023 150 000
Beginning inventory 23 000
Ending inventory 29 000
The average number of days taken to turn over inventory for 2023 is:
a. 126 days.
b. 70 days.
c. 55 days.
d. 63 days.
General Feedback:
Learning objective 19.4 conduct ratio analysis to assess an entity's profitability, liquidity, and financial stability.
Feedback: Inventory turnover = $150 000 / [($23 000 + $29 000)/2] = 5.77 times. Turnover ratio = 365 days / 5.77 times = 63 days.
54. Which of the following statements relating to the debt ratio of a company is incorrect?
a. It is a measure of the extent of a company's gearing.
b. A higher level of debt is normally preferable from a creditor's point of view.
c. It is an indicator of a company's long-term solvency.
d. It can be calculated by relating liabilities to total funds.
General Feedback:
Learning objective 19.4 conduct ratio analysis to assess an entity's profitability, liquidity, and financial stability.
55. An increase in the inventory turnover ratio is normally considered to be favourable but could be unfavourable if it means:
a. inventory is less likely to become obsolete.
b. liquidity is greater.
c. the firm is not carrying enough inventory to meet its customer's needs.
d. storage costs of inventory are lower
General Feedback:
Learning objective 19.4 conduct ratio analysis to assess an entity's profitability, liquidity, and financial stability.
56. Financial stability refers to the ability of an entity to:
a. pay its current obligations on time.
b. earn a high rate of profit.
c. pay its rent.
d. meet its long-term obligations.
General Feedback:
Learning objective 19.4 conduct ratio analysis to assess an entity's profitability, liquidity, and financial stability.
57. If an entity wishes to maximise its return on assets, it needs to:
a. Maximise both profit margin and asset turnover.
b. Minimise gearing and improve its cash sufficiency ratio.
c. Increase its current ratio and asset turnover.
d. Increase its price earnings ratio and profit margin.
General Feedback:
Learning objective 19.5: explain the relationships among ratios to assess the interaction between profitability, liquidity and financial stability.
58. Which statement concerning the cash flow adequacy ratio is incorrect?
a. The ratio assesses the entity's ability to generate sufficient operating cash flow to cover its main cash requirements.
b. A fall in the ratio indicates a lower ability to generate operating cash to meet requirements.
c. The main requirements for cash from operations is to pay debts, acquire assets and pay dividends.
d. A ratio of 100% or more over several years indicates an inadequate ability to generate sufficient operating cash to cover requirements.
General Feedback:
Learning objective 19.6: analyse and interpret the ratio information provided by a statement of cash flows.
59. Cash flows from operating activities divided by (repayments of long-term borrowings + assets acquired + dividends paid) is the formula for:
a. debt coverage ratio.
b. cash flow adequacy ratio.
c. reinvestment ratio.
d. borrowings ratio.
General Feedback:
Learning objective 19.6: analyse and interpret the ratio information provided by a statement of cash flows.
60. Which of the following are limitations of financial analysis?
I The past is an imperfect guide to the future.
II Effects of inflation are not considered.
III Changes in accounting policies are not highlighted.
IV Use of different accounting methods across entities makes comparability difficult.
a. I, II, III and IV
b. I, III and IV only
c. I and III only
d. II, III and IV only
General Feedback:
Learning objective 19.7 discuss the limitations of traditional financial statement analysis.
61. Which of these are limitations of financial analysis?
I. Use of historical data
II. Invalid comparisons
III. Ratio results often contain errors in calculations
IV. Historical cost financial reports are not adjusted for inflation
V. Non-quantitative factors are not considered
a. I, II, III and IV only
b. I, II, III and V only
c. I, II, III, IV and V
d. I, II, IV and V only
General Feedback:
Learning objective 19.7 discuss the limitations of traditional financial statement analysis.
62. All of the following are limitations of financial ratio analysis except for:
a. it is the past performance that is being analysed.
b. year-end data is not necessarily typical of the position during the year.
c. suitable yardsticks may not be available with which to compare results.
d. excessive information is being disclosed in company annual reports.
General Feedback:
Learning objective 19.7 discuss the limitations of traditional financial statement analysis.
63. Which of the following statements is incorrect?
a. Fundamental analysis assumes that an analyst should concentrate on studying data about an entity from a primary source and give little weight to secondary sources of information.
b. Fundamental analysis is engaged in by many analysts.
c. Fundamental analysis assumes that an analyst can study all the published information in relation to an entity and determine whether its shares are correctly valued.
d. Fundamental analysis assumes that an analyst can study all the published information in relation to an entity and determine whether its shares are under/over-valued.
General Feedback:
Learning objective 19.8 describe the impact of capital market research on the role of financial statement analysis.
64. Which statement about capital market research and financial statement analysis is correct?
a. Financial analysis is of little use to investors if share markets are inefficient.
b. Analysts relying on financial statement analysis assume that share markets are inefficient.
c. Little research has been carried out to determine the efficiency of share markets.
d. The evidence of share market research on the efficiency of the market is conclusive.
General Feedback:
Learning objective 19.8 describe the impact of capital market research on the role of financial statement analysis.
Document Information
Connected Book
Financial Accounting 11e | Test Bank with Answer Key by John Hoggett
By John Hoggett, Lew Edwards, John Medlin, Keryn Chalmers, Andreas Hellmann, Claire Beattie, Jodie Maxfield