What is usually presented first in the notes to the financial statements?

Question 52 options:

A)	Accumulated Comprehensive Income

B)	Commitments and Contingencies

C)	Significant Accounting Policies

D)	Earnings Per Share Calculations

On the income statement, net income (profits) tell you:

Question 53 options:

A)	The difference between how much a company recorded as revenues and expenses during a given period.

B)	The difference between how much a company owns and how much it owes.

C)	The difference between how much a company owns and how much it spend during a given period.

D)	The difference between how much cash a company received and how much cash it paid out during a period of time.

Which of the following is not a "best practice" for formatting an Excel model?

Question 54 options:

A)	You should maintain standard formatting of worksheets throughout your model.

B)	You should color hard-coded numbers (inputs) "black".

C)	You should maintain standard column and row headings across multiple sheets.

D)	You should maintain standard formatting of numbers throughout your model.

Which of the following is false with respect to the Statement of Cash Flows?

Question 55 options:

A)	Increases in accounts receivables, increases in inventories and increases in accounts payables all generate cash inflows for the period.

B)	Noncash expenses, like depreciation and amortization expenses, as well as, nonoperating losses are added back to net income to arrive at cash flows from operating activities.

C)	Decreases in accounts receivables, decreases in inventories, and increases in payables will all result in cash inflows from operations.

D)	Cash flows from operating activities convert the company's net income to cash by adjusting earnings for noncash expenses, nonoperating gains/losses, and accruals taken on operating items from the balance sheet.