35.Why is the amount for operating income important?

A.This figure provides a basis for assessing the success of a company apart from its financing and investing activities and separate from its tax status.

B.Operating income includes all operating revenues and expenses, as well as, interest and taxes related to operations.

C.This is the figure needed for calculating income taxes.

D.Operating income provides a basis for assessing the wealth of the firm.

36.Which of these is not an attribute of an economic moat?

A.Network effect.

B.Low-cost producer.

C.Switching costs.

D.Technological expertise.

37.What combination of shortcuts do you need to go from "Before" to "After" as shown below?

A.CTRL + X, then CTRL + V

B.CTRL + X, then CTRL + Z

C.CTRL + C, then CTRL + V

D.CTRL + C, then CTRL + X

38.Which of the following is not an operating item on the Income Statement?

A.Interest Expense

B.Research and Development

C.Cost of Goods Sold

D.Revenues

39.What is the keyboard shortcut to freeze panes within a worksheet?

A.ALT + W + S

B.ALT + W + F + F

C.ALT + F + W + V

D.ALT + A + W + T

40.Which of the following is false?

A.The keystroke for formatting cells is CTRL + 1

B.The keystroke for undo is CTRL + Y

C.The keystroke for print is CTRL + P

D.The keystroke for grouping columns or rows is ALT + A + G + G

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

A.Share repurchases and dividend payments will create cash outflows for financing activities.

B.Cash outflows from investing activities typically revolve around spending for capex and the payment of debt.

C.Investing activities include expenditures for property, plant and equipment (capex), expenditures for intangible assets, and cash flows from security investment activities.

D.Financing activities include fund flows related to stock issuances, debt, share repurchases, and dividend payments.

42.Which of the following does not factor in to the calculation of cash flows from operating activities under the indirect method?

A.The loss on the sale of the equipment.

B.A decrease in the balance of accounts receivable.

C.Depreciation expense.

D.The total proceeds from the sale of equipment.

E.Share-based compensation expense.

43.Best practices for formatting financial statements include all but one of the following:

A.Using ALT + H + 6 to indent line items.

B.Placing $ signs by all dollar amounts.

C.Using CTRL B to bold major line items and their amounts.

D.Using CTRL 1 to center across account titles.

44.Which is true when reading financial statements?

A.Statement of Cash Flows amounts represent cash inflows and outflows for the current reporting period.

B.Statement of Shareholders' Equity amounts represent cash balances at the end of the reporting period.

C.Income Statement amounts represent revenue and expense changes from the prior period.

D.Balance Sheet amounts represent asset, liability and owner equity changes for the reporting period.

45.Which of the following is false?

A.The keystroke to make a comment is ALT + R + D

B.The keystroke for copy is CTRL + C

C.The keystroke to show a formula is F2

D.The keystroke for fill right is CTRL + R