Firm’s Primary Long-Term Financial Objective

Firm’s Primary Long-Term Financial Objective

Question 1 (CO 2) What should be a firm’s primary long-term financial objective?

Equity growth

Asset growth

Debt growth

Profit growth

Question 2 (CO 2) Which method(s) of financial reporting does (do) not recognize the impact of changes in unrealized gains in replacement value?

HC-GPL and CV-GPL

CV and CV-GPL

HC and CV

HC and HC-GPL

Question 3 (CO 2) A statement that reports inflows and outflows of cash during the accounting period in the categories of operations, investing, and financing, is called a(an):

Report of management

Statement of cash flows

Income statement

Balance sheet

Statement of retained earnings

Question 4 (CO 2) _____ is the most important financial metric to review to determine long-term financial viability.

Total margin

None of the above

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