17. 18. 19. 20. Which of the following sources of information used by analysts is found outside a company's annual report? A. Auditor's report. B. Peer company analysis. C. Management's discussion and analysis. Ratios are an input into which step in the financial statement analysis framework? A. Process data. B. Collect input data. C. Analyze/interpret the processed data. Which phase in the financial statement analysis framework is most likely to involve producing updated reports and recommendations? A Follow-up. B. Analyze interpret the processed data. C. Develop and communicate conclusions and recommendations. Which of the following is most likely not an objective of financial statements? A. To provide information about the performance of an entity. B. To provide information about the financial position of an entity. C. To provide information about the users of an entity's financial statements. International financial reporting standards are currently developed by which entity? A. The IFRS Foundation. B. The International Accounting Standards Board. C. The International Organization of Securities Commissions. US generally accepted accounting principles are currently developed by which entity? A. The Securities and Exchange Commission. B. The Financial Accounting Standards Board. C. The Public Company Accounting Oversight Board. 21. 22