FA

Question 1

Cash-inflow Costs
Performance Expenses
Income Expenditures
Receipts Cash-outflow

Answer 1

Cash-inflow Cash-outflow
Performance Costs
Income Expenses
Receipts Expenditures

Question 2

Receipts & Expenditures
Profit

Income & Expenses
Financial balance

Cash-inflow & Cash-outflow
Operating result

Performance & Costs
Payment balance

Answer 2

Receipts & Expenditures
Financial balance

Income & Expenses
Profit

Cash-inflow & Cash-outflow
Payment balance

Performance & Costs
Operating result

Question 3

Operating profit
Cost accounting

Change of cash and cash equivalents
Present values

Net income/loss
Financial planning

Investment planning
Financial accounting

Answer 3

Operating profit
Cost accounting

Change of cash and cash equivalents
Financial planning

Net income/loss
Financial accounting

Investment planning
Present values

Question 4

___ are ___ periodised and net income affecting, whereas ___ represent the monetary value of a company`s ___ economic goods within a period.

expenditures delivered cost cash-outflows expenses acquired

Answer 4

expenses are expenditures periodised and net income affecting, whereas expenditures represent the monetary value of a company`s acquired economic goods within a period.

Question 5

Assign the individual terms to the corresponding targets of a company!

Offer of certain services

___target

Increase in market share
___target

Profit maximization
___target
Risk reduction
___target

Answer 5

Offer of certain services
Antwort 1
Performance target

Increase in market share
Antwort 2
Success target

Profit maximization
Antwort 3
Success target

Risk reduction
Antwort 4
Safety target

Question 6

Assign the individual terms to the type of accounting!

Financial statements → ____ accounting,

Financial planning → ____ accounting,

Bookkeeping → ____ accounting,

Investment planning → ____ accounting

Answer 6

Financial statements → Financial accounting,

Financial planning → Budgetary accounting,

Bookkeeping → Financial accounting,

Investment planning → Budgetary accounting

Question 7

Assign the individual statements to the corresponding types of accounting!

Information for decisions makers outside the company → ____ accounting,

Representing a company`s important financial and operational processes → ____ accounting,

No formal requirements → ____ accounting,

Representing a company`s net assets, financial situation and result of operations → ____ accounting

Answer 7

Information for decisions makers outside the company → Financial accounting,

Representing a company`s important financial and operational processes → Management accounting,

No formal requirements → Management accounting,

Representing a company`s net assets, financial situation and result of operations → Financial accounting

Question 8

Which types of accounting deliver the answer to these questions?
How beneficial are individual measures in the short-run? → ___,

How successful has the company performed within the last period? → ___,

Is the future solvency secured? → ___,

Are the planned or realized investments profitable? → ___

Answer 8

How beneficial are individual measures in the short-run? → Cost accounting,

How successful has the company performed within the last period? → Financial accounting,

Is the future solvency secured? → Financial planning,

Are the planned or realized investments profitable? → Investment planning

Question 9

Consumption of raw materials that have been purchased within the same period →

Accrual of provisions →

Depreciation of a machine that was purchased within a prior period →

Purchase of raw material that will be used and paid within a future period →

Expense, Expense & Expenditure, Expenditure, Expense

Answer 9

Consumption of raw materials that have been purchased within the same period → Expense & Expenditure,

Accrual of provisions → Expense,

Depreciation of a machine that was purchased within a prior period → Expense,

Purchase of raw material that will be used and paid within a future period → Expenditure

Question 10

Delivery of goods that have been paid within a prior period →

Paying an invoice concerning the delivery of raw materials from a prior period →

Prepayments for raw materials that will be delivered within a future period →

Purchase of goods on credit →

Cash purchase of raw materials →

Cash-outflow & Expenditure, Expenditure, Cash-outflow, Cash-outflow, Expenditure,

Answer 10

Delivery of goods that have been paid within a prior period → Expenditure,

Paying an invoice concerning the delivery of raw materials from a prior period → Cash-outflow,

Prepayments for raw materials that will be delivered within a future period → Cash-outflow,

Purchase of goods on credit → Expenditure,

Cash purchase of raw materials → Cash-outflow & Expenditure

Question 11

Additional costs → ___ costs,

Operating expenses → ___ costs,

Different calculated costs → ____ costs

Answer 11

Additional costs → Imputed costs,

Operating expenses → Basic costs,

Different calculated costs → Imputed costs

Question 12

Payment of goods sold in a prior period →

Sale of goods on credit →

Sale of goods that have been paid in a prior period →

Receiving a pre-payment on a sale of goods in the subsequent period →

Cash sale of goods →

Cash-inflow, Receipts, Receipts, Cash-inflow, Receipts & Cash-inflow

Answer 12

Payment of goods sold in a prior period → Cash-inflow,

Sale of goods on credit → Receipts,

Sale of goods that have been paid in a prior period → Receipts,

Receiving a pre-payment on a sale of goods in the subsequent period → Cash-inflow,

Cash sale of goods → Receipts & Cash-inflow

Question 13

Production of finished goods for stock →

Sale of goods that have been produced within the same period →

Sale of a facility at book value on credit →

Construction of facilities for company`s own usage →

Receipts & Income, Income, Receipts, Income

Answer 13

Production of finished goods for stock → Income,

Sale of goods that have been produced within the same period → Receipts & Income,

Sale of a facility at book value on credit → Receipts,

Construction of facilities for company`s own usage → Income

Question 14

Different calculated performance →

Operating income →

Additional performance →

Basic performance, Imputed performance

Answer 14

Different calculated performance → Imputed performance,

Operating income → Basic performance,

Additional performance → Imputed performance

Question 15

What are the main purposes (roles) of accounting?
(one or more answers might be correct)

a. Stewardship role
b. Contracting role
c. Management role
d. Valuation role

Answer 15

Valuation role,
Stewardship role,
Contracting role

Question 16

Choose possible incentives which might cause earnings management!

a. Raising capital
b. Meet/beat targets
c. Performance-based compensation
d. Quite life

Answer 16

Raising capital,
Meet/beat targets,
Performance-based compensation,
Quite life

Question 17

As what can the following business transaction be identified:
“Purchase of goods on credit”
(one or more answers might be correct!)

a. Receipts
b. Expense
c. Cash-outflow
d. Cash-inflow
e. Expenditure
f. Income

Answer 17

Expenditure

Question 18

As what can the following business transaction be identified from the point of view of the company:
“A customer pays for a service received by the company 2.000€ in cash”
(one or more answers might be correct!)

a. Cash-inflow
b. Income
c. Cash-outflow
d. Expenditure
e. Receipts
f. Expenses

Answer 18

Income,
Receipts,
Cash-inflow

Question 19

As what can the following business transaction be identified from the point of view of the company:
“Purchase of a company car for 60.000€ via bank transfer”
(one or more answers might be correct!)

a. Income
b. Expense
c. Expenditure
d. Cash-inflow
e. Cash-outflow
f. Receipts

Answer 19

Expenditure,

Cash-outflow

Question 20

Arrange the following work steps in the correct chronological order of their creation.

Record payment receipts
Disposition
Order intake
Withdrawal from warehouse
Order processing
Create an invoice

Answer 20

Order intake
Disposition
Order processing
Withdrawal from warehouse
Create an invoice
Record payment receipts

Question 21

Make your choice: Which of the following assets represent what type of assets?

production machinery

raw material

Office building

trade receivable

cash

current asset or fixed asset

Answer 21

production machinery
fixed asset

raw material
current asset

Office building
fixed asset

trade receivable
current asset

cash
current asset

Question 22

Please assign the right effect of the following business transactions to assets, equity and/or liabilities.

Building is destroyed by a fire

Bank grants a bank loan.

Owner buys a car for his private use.

Company buys raw material

assets change; no commercial reference; assets increase, liabilities increase; assets decrease, equity decreases

Answer 22

Building is destroyed by a fire
assets decrease, equity decreases

Bank grants a bank loan.
assets increase, liabilities increase

Owner buys a car for his private use
no commercial reference

Company buys raw material
assets change

Question 23

Assign the right answer to the statements

Liabilities-side accounts increase

Liabilities-side accounts decrease

Asset-side accounts increase

Asset-side accounts decrease

on the equity side
on the debit side
on the debit side
on the credit side

Answer 23

Liabilities-side accounts increase
on the debit side

Liabilities-side accounts decrease
on the credit side

Asset-side accounts increase
on the debit side

Asset-side accounts decrease
on the equity side

Question 24

A ___ is an event, which changes the company`s financial situation. The ___ describes the condition of all assets and ____ of a company. This includes both the assets and the ____. A business transaction has to be expressed in ____ and always has ___ impacts from a commercial point of view.

monetary value ; two; financial situation; liabilities; dollar; business; transaction; capital; commercial situation; four; money transaction

Answer 24

A business transaction
is an event, which changes the company`s financial situation. The financial situation describes the condition of all assets and liabilities of a company. This includes both the assets and the capital. A business transaction has to be expressed in monetary value and always has two impacts from a commercial point of view.

Question 25

If the ____ are in total value higher than the _____ , than there is a debit balance on the _____ . If the ___ are in value higher than the ____ , than there is a credit balance on _____. credit side; the debit side; credit postings; debit postings

Answer 25

If the debit postings are in total value higher than credit postings, than there is a debit balance on the credit side. If the credit postings are in value higher than the debit postings , than there is a credit balance on the debit side.

Question 26

A company is ____ oriented if equity instruments or bonds are traded on an organized market. A company is ____ if equity instruments are traded on an organized market. capital market; oriented listed; capitalized

Answer 26

A company is capital market oriented if equity instruments or bonds are traded on an organized market. A company is listed if equity instruments are traded on an organized market.

Question 27

The accounting equation is as follows: | ____ = _____ + _____

Answer 27

The accounting equation is as follows: | assets = liabilities + equity

Question 28

In the ____ all journal entries are listed in chronological order. The ____ comprises all accounts of the company (permanent and temporary accounts). In additions there are ______ to split accounts furter outside the accounting system. general ledger; subsidiary books of account; income statement; journal; balance sheet

Answer 28

In the journal all journal entries are listed in chronological order. The general ledger comprises all accounts of the company (permanent and temporary accounts). In additions there are subsidiary books of account to split accounts furter outside the accounting system.

Question 29

Equity capital → Debt capital → provided by owner, provided by creditor

Answer 29

Equity capital → provided by owner, Debt capital → provided by creditor

Question 30

Assign the right term to the statement. Assets that should serve the company for a longer term → Assets that should serve the company for a short term → fixed assets; current assets

Answer 30

Assets that should serve the company for a longer term → fixed assets, Assets that should serve the company for a short term → current assets

Question 31

Separation of company assets and partners → only management board has power of representation → Each partner has power of representation → Partners bear liability personally and unlimited for the company`s liabilities → KG → AG → partnership, capital companies

Answer 31

Separation of company assets and partners → capital companies, only management board has power of representation → capital companies, Each partner has power of representation → partnership, Partners bear liability personally and unlimited for the company`s liabilities → partnership, KG → partnership, AG → capital companies

Question 32

Assign the statements to the right term! Balance sheet accounts Right side of the balance sheet Income statement accounts Left side of the balance sheet liabilities-side, temporary accounts, permanent accounts, asset-side

Answer 32

Balance sheet accounts → permanent accounts, Right side of the balance sheet → liabilities-side, Income statement accounts → temporary accounts, Left side of the balance sheet → asset-side

Question 33

Which company is required to prepare obligatory consolidated financial statements under IFRS? a. Capital market oriented companies b. non-capital market oriented parent companies c. capital market oriented parent companies d. all company

Answer 33

capital market oriented parent companies

Question 34

Which of the following principles represent accruals principles? (one or more answers might be correct!) a. Imparity principle b. Realization principle c. Accuracy d. Going concern

Answer 34

Realization principle, | Imparity principle

Question 35

Which of the following principles represent prudence principles? (one or more answers might be correct!) a. Imparity principle b. Realization principle c. Completeness d. Consistency

Answer 35

Realization principle, | Imparity principle

Question 36

Which of the following principles represent framework principles? (one or more answers might be correct!) a. Consistency b. Neutrality c. Completeness d. Understandability

Answer 36

Neutrality, Understandability, Completeness

Question 37

Which of the following principles represent complementary principles? (one or more answers might be correct!) a. Accuracy b. Consistency c. Going concern d. Single-asset valuation

Answer 37

Going concern, Single-asset valuation, Consistency

Question 38

Which are the obligatory components of consolidated financial statements in accordance with IFRS? a. Statement of financial position b. Segment reporting c. Statement of comprehensive income d. Management report e. Statement of changes in equity f. Notes to the financial statements g. Statement of cash flows

Answer 38

``` Statement of financial position, Statement of comprehensive income, Statement of changes in equity, Statement of cash flows, Notes to the financial statements ```

Question 39

Please identify possible unperiodic mandatory disclosures in the following list. (one or more answers might be correct) a. Ad-hoc reports b. Semi-annual reports c. Quarterly reports d. Press releases

Answer 39

Ad-hoc reports

Question 40

Put the terms / activities mentioned in the correct chronological order. ``` Preparation of financial statements Audit of the financial statements Fixing the financial statements Postings based on transactions Disclosure of the financial statements ```

Answer 40

``` Postings based on transactions Preparation of financial statements Audit of the financial statements Fixing the financial statements Disclosure of the financial statements ```

Question 41

Decide whether the mentioned statements are true or false! Liabilities-side accounts: increase in CREDIT, decrease in DEBIT Asset-side accounts: increase in CREDIT, decrease in DEBIT Asset-side accounts: increase in DEBIT, decrease in CREDIT Liabilities-side accounts: increase in DEBIT, decrease in CREDIT

Answer 41

true false true false

Question 42

Decide whether the mentioned statements are true or false! Expense account: increase in CREDIT, decrease in DEBIT Income account: increase in DEBIT, decrease in CREDIT Expense account: increase in DEBIT, decrease in CREDIT Income account: increase in CREDIT, decrease in DEBIT

Answer 42

true false false true

Question 43

Assign the right technical term for the effect to the balance sheet by the mentioned business transactions: Increase of provisions consumption of raw material Buying a machinery on credit Repayment of debt with additional equity balance extension balance shortening assets swap liabilities swap

Answer 43

Increase of provisions liabilities swap consumption of raw material balance shortening Buying a machinery on credit balance extension Repayment of debt with additional equity liabilities swap

Question 44

Decide under which requirements deferred income/charges or other liabilities/assets have to be accounted for. Cash inflow during the following period and income during the reporting period Cash outflow during the reporting period and expense during the following period Cash inflow during the reporting period and income during the following period Cash outflow during the following period and expense during the reporting period other assets other liabilities deferred income deferred charges

Answer 44

Cash inflow during the following period and income during the reporting period other assets Cash outflow during the reporting period and expense during the following period deferred charges Cash inflow during the reporting period and income during the following period deferred income Cash outflow during the following period and expense during the reporting period other liabilities

Question 45

What do the following addressees of annual financial statements focus on most? Suppliers Shareholders Employees Creditors Financial stability Profitability Corporate Governance

Answer 45

Suppliers Financial stability Shareholders Profitability Employees Financial stability Creditors Financial stability

Question 46

Assign the right type of relative key figures to the following key figures: Current assets/Non-current assets Non-current assets/Total assets Stock indices Index figures ``` Breakdown figures Other metrics Absolute figures Relationship figures Index figures ```

Answer 46

Current assets/Non-current assets Other metrics Non-current assets/Total assets Breakdown figures Stock indices Index figures Gross profit/Revenues Relationship figures

Question 47

Find the right pairs! Horizontal structural analysis Asset structure Financing analysis period-of-time-orientated Static liquidity analysis Capital structure ratios Investment analysis Dynamic liquidity analysis

Answer 47

Horizontal structural analysis Static liquidity analysis Asset structure Investment analysis Financing analysis Capital structure ratios period-of-time-orientated Dynamic liquidity analysis

Question 48

Find the right pairs! Analysis of earnings sources Investment analysis Liquidity analysis Financing analysis Income statement Cash flow statement asset-side liabilities-side

Answer 48

Analysis of earnings sources Income statement Investment analysis asset-side Liquidity analysis Cash flow statement Financing analysis liabilities-side

Question 49

Find the right pairs! Provisions Trade payables Trade receivables Property, plant and equipment ``` Liabilities-side account Asset-side account Current assets Equity Current liabilities Temporary account ```

Answer 49

Provisions Liabilities-side account Trade payables Current liabilities Trade receivables Current assets Property, plant and equipment Asset-side account

Question 50

A company sold a machine for 100€ cash on 1st Januar at the beginning of the accounting period; the carrying amout of the machine was 80€; How are the following cash flows affected/corrected by this transaction? Assign the corresponding amounts to the cash flows! Cash flow from investing activities Cash flow from operating activities Cash flow from financing activities 0; + 20; - 80; + 100; - 20; + 80

Answer 50

Cash flow from investing activities + 100 Cash flow from operating activities - 20 Cash flow from financing activities 0

Question 51

Assign the right technical term for the mentioned changes in the balance sheet structure: Changes in assets structure and constant the total sum Changes in assets and liabilities structure and increasing total sum Changes in assets and liabilities structure and decreasing total sum Changes in liabilities structure and constant the total sum Liabilities swap; Balance shortening; Balance extension; Asset swap;

Answer 51

Changes in assets structure and constant the total sum → Asset swap, Changes in assets and liabilities structure and increasing total sum → Balance extension, Changes in assets and liabilities structure and decreasing total sum → Balance shortening, Changes in liabilities structure and constant the total sum → Liabilities swap

Question 52

The financial-based analysis is mainly concerned with the analysis of the ... a. Income statement b. Asset-side c. Cash flow statement d. Liabilities-side

Answer 52

Asset-side, Liabilities-side, Cash flow statement

Question 53

Which are the three sub-cash flows in a statement of cash flows under IFRS? a. Cash flow from selling activities b. Cash flow from operating activities c. Cash flow from financing activities d. Cash flow from business activities e. Cash flow from investing activities

Answer 53

Cash flow from operating activities, Cash flow from investing activities, Cash flow from financing activities

Question 54

What effects can the equity capital be changed according to IFRS? a. Asset swap b. Transactions with the shareholders c. Other comprehensive income d. Liabilities swap e. Profit or Loss

Answer 54

Profit or Loss, Other comprehensive income, Transactions with the shareholders

Question 55

An increase in annual depreciation has a negative effect on which of the following earning figures? a. EBT b. EBIT c. Net profit d. Gross profit e. EBITDA f. Revenues

Answer 55

Net profit, EBIT, EBT

Question 56

A company purchased a building for 300.000 € cash. This transaction would be reported on the statement of cash flows as ... a. a use of cash in the financing activities section b. a decrease in net income c. a use of cash in the investing activities section d. a use of cash in the operating activities section

Answer 56

a use of cash in the investing activities section

Question 57

Which type of financial statements is in Germany the legal base for profit distribution? a. Consolidated financial statements in accordance with IFRS b. Individual financial statements in accordance with IFRS c. Individual financial statements in accordance with HGB d. Consolidated financial statements in accordance with HGB (German commercial law)

Answer 57

Individual financial statements in accordance with HGB

Question 58

What are the 5 components of an IFRS Financial Statements in accordance with IFRS? a. Management report b. Statement of financial position c. Statement of changes in equity d. Notes e. Statement of profit or loss and other comprehensive income f. Segment reporting g. Statement of cash flows

Answer 58

``` Statement of profit or loss and other comprehensive income, Statement of financial position, Statement of cash flows, Statement of changes in equity, Notes ```

Question 59

Put the terms/activities mentioned in the correct chronological order. ``` Voucher Business transaction Do these accounts increase or decrease? Which two accounts are affected? What type of accounts are affected? Posting to the T-accounts Are the increases / decreases in debit or credit? Creating a journal entry ```

Answer 59

``` Business transaction Voucher Which two accounts are affected? What type of accounts are affected? Do these accounts increase or decrease? Are the increases / decreases in debit or credit? Creating a journal entry Posting to the T-accounts ```

Question 60

Arrange the following terms of the statement of profit or loss in the correct order - starting with the "Top line" to the "Bottom line" ``` Revenues Gross profit EBIT Cost of Sales Net profit or loss EBT ```

Answer 60

``` Revenues Cost of Sales Gross profit EBIT EBT Net profit or loss ```

Question 61

The financial-based analysis is mainly concerned with the analysis of the ... a. Asset-side b. Cash flow statement c. Income statement d. Liabilities-side

Answer 61

Asset-side, Liabilities-side, Cash flow statement