Practice Quiz

CFP Certified Financial Planner Test Prep - Question List

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36. Cartman’s Cats shows the following on the books:

Stockholder’s Equity: $54,000
Common Stock Book Value: $33,600
Preferred Stock Book Value: $20,400

If Cartman’s Cats has 1,000 shares of common stock outstanding, what is the book value per share?
  1. $54.00
  2. $33.60
  3. $33,600
  4. $20.40
  5. $54,000
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37. Cartman’s Cats showed the following:

Net Income: $50,000
Depreciation: $10,000
Increase in Accounts Receivable: $15,000
Decrease in Accounts Payable: $15,000

What is the amount of cash from operating activities on the statement of cash flows?
  1. $90,000
  2. $30,000
  3. $75,000
  4. $60,000
  5. $80,000
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38. Which of the following is considered a distribution of a corporation’s net income?
  1. Common stock
  2. Preferred stock
  3. Dividends
  4. Stockholder’s equity
  5. Treasury stock
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39. Cartman’s Cats shows the following balances:

Cash: $20,000
Accounts Receivable: $60,000
Inventory: $80,000
Accounts Payable: $60,000
Wages Payable : $60,000

What is the quick ratio for the business?
  1. .2 : 1
  2. .4 : 1
  3. .7 : 1
  4. .8 : 1
  5. .6 : 1
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40. If the accrual basis of accounting is used, when is the discount on a note receivable reported as interest revenue?
  1. t is reported over the life of the note.
  2. It is reported when the note reaches the maturity date.
  3. It is reported when the note is received.
  4. It is not reported.
  5. It is reported daily.
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