2020年CFA考试《CFA一级》考试共240题，分为单选题。小编为您整理Financial Statement Analysis5道练习题，附答案解析，供您备考练习。

1、The following selected information is from a company’s most recent financial statements:

The 2009 cash conversion cycle, in days, is closest to:【单选题】

A.23.

B.26.

C.28.

正确答案:A

答案解析:“Financial Analysis Techniques”, Thomas R. Robinson, CFA, Jan Hendrik van Greuning, CFA, R. Elaine Henry, CFA, and Michael A. Broihahn, CFA
2010 Modular Level I, Vol. 3, pp. 329-330
“Working Capital Management,” Edgar A. Norton, Jr., CFA, Kenneth L. Parkinson, and Pamela P. Peterson, CFA
2010 Modular Level I, Vol. 4 pp.89-93
Study Session 8-35-d, 11-46-c
Calculate, classify and interpret activity, liquidity, solvency, profitability, and valuation ratios.
Evaluate overall working capital effectiveness of a company, using the operating and cash conversion cycles, and compare its effectiveness with other peer companies.

2、An analyst does research about financial statement framework.Ratios and graphsare most likely the output of which of the following phases of the financial statementanalysis framework?【单选题】

A.Process data.

B.Analyze/interpret the processed data.

C.Collect input data.

正确答案:A

答案解析:财务报表分析的步骤如下：
（1） 陈述分析目标；
（2） 收集数据（例如财务报表、行业报告等）；
（3） 处理数据（形成通用报表、比率和图表等）；
（4） 分析并阐述所处理的数据；
（5） 制定决策，沟通结果并形成推荐意见；
（6） 继续跟踪。

3、Under IFRS, which of the following is most likely one of the fundamental principles underlying the preparation of financial statements?【单选题】

A.Reliability

B.Consistency

C.Understandability

正确答案:B

答案解析:"Financial Reporting Standards,” Thomas R. Robinson, CFA, Jan Hendrik van Greuning, CFA, Karen O’Connor Rubsam, CFA, Elaine Henry, CFA, and Michael A. Broihahn, CFA
2011 Modular Level 1, Vol.3, pp.107-108, 112-113
Study Session: 7-31-d, e
Describe the International Financial Reporting Standards (IFRS) framework, including the qualitative characteristics of financial statements, the required reporting elements, and the constraints and assumptions in preparing financial statements.
Explain the general requirements for financial statements.
Based on International Accounting Standard (IAS) general requirements for financial statements, fundamental principles include fair presentation, going concern, accrual basis, consistency and materiality.

4、An analyst makes the appropriate adjustments to the financial statements of retail companies that are lessees using a substantial number of operating leases. Compared to ratios computed from the unadjusted statements, the ones computed from the adjusted statements would most likely be higher for:【单选题】

A.the debt-equity ratio but not the interest coverage ratio.

B.the interest coverage ratio but not the debt-equity ratio.

C.both the debt-equity ratio and the interest coverage ratio.

正确答案:A

答案解析:“Long-term Liabilities and Leases,” Elizabeth A. Gordon and R. Elaine Henry, CFA
2010 Modular Level I, Vol. 3, pp. 537, 544-547
Study Session 9-39-g
Determine the effects of finance and operating leases on the financial statements and ratios of the lessees and lessors.
The adjustments to convert operating leases into capital leases would increase the amount of total debt in the debt-equity ratio thus increasing the ratio; the portion of the lease payment estimated to be lease interest expense would lower the interest coverage ratio.

5、The least appropriate treatment of accounting goodwill arising from acquisition isthat it is:【单选题】

A.capitalized.

B.tested for impairment annually.

C.fully expensed at the time of acquisition.

正确答案:C

答案解析:商誉（goodwill）是不需要摊销的，但是每年都需要检验是否发生折损。商誉一般进行资本化，而不是费用化。