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AFM exam package 2023 with complete solutions
AFM 121 Midterm Exam questions with 100% correct answers AFM 206 Exam 2023 questions with complete solutions
[Show more]AFM 121 Midterm Exam questions with 100% correct answers AFM 206 Exam 2023 questions with complete solutions
[Show more]ombination 
order does not matter 
 
 
 
Permutation 
order does matter 
 
 
 
What does "and" mean? 
you multiply 
 
 
 
what formula do you use for "or"? 
P(a)+P(b)-P(a,b) 
 
 
 
What calculator input do you use for combination? 
Math, PRB, 3 
 
 
 
What calculator input do you use for permuta...
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Add to cartombination 
order does not matter 
 
 
 
Permutation 
order does matter 
 
 
 
What does "and" mean? 
you multiply 
 
 
 
what formula do you use for "or"? 
P(a)+P(b)-P(a,b) 
 
 
 
What calculator input do you use for combination? 
Math, PRB, 3 
 
 
 
What calculator input do you use for permuta...
Free trade 
moving goods/services between countries without political or economic obstruction 
 
 
 
Exporting 
selling products to another country 
 
 
 
Importing 
buying products from another country 
 
 
 
Balance of trade 
relationship between exports & imports 
 
 
 
Trade surplus 
favourable ...
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Add to cartFree trade 
moving goods/services between countries without political or economic obstruction 
 
 
 
Exporting 
selling products to another country 
 
 
 
Importing 
buying products from another country 
 
 
 
Balance of trade 
relationship between exports & imports 
 
 
 
Trade surplus 
favourable ...
Porter's 5 forces considers the political, economic, social, technological, and overarching factors that may impact the success of a business. 
False 
 
 
 
The manager of Extreme Sporting Goods is concerned that cash expenditures have been exceeding cash receipts for the last six months, suggestin...
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Add to cartPorter's 5 forces considers the political, economic, social, technological, and overarching factors that may impact the success of a business. 
False 
 
 
 
The manager of Extreme Sporting Goods is concerned that cash expenditures have been exceeding cash receipts for the last six months, suggestin...
ROCE 
NOPAT/Capital employed 
 
 
 
asset turnover 
revenue/capital employed 
 
 
 
operating profit margin 
operating profit/revenue 
 
 
 
receivable days 
receivables/revenue X 365 
 
 
 
payable days 
payables/purchases X 365 
 
 
 
inventory holding period 
inventory/cost of sales X 365 
 
 
 
...
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Add to cartROCE 
NOPAT/Capital employed 
 
 
 
asset turnover 
revenue/capital employed 
 
 
 
operating profit margin 
operating profit/revenue 
 
 
 
receivable days 
receivables/revenue X 365 
 
 
 
payable days 
payables/purchases X 365 
 
 
 
inventory holding period 
inventory/cost of sales X 365 
 
 
 
...
EQ (Emotional Quotient, also know as emotional intelligence) 
Focuses on the strength of certain soft skills, and involves developing greater self-awareness and self-control, and developing the ability to empathize and see a variety of perspectives. 
 
 
 
Intrapreneurship 
Entrepreneurial activity ...
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Add to cartEQ (Emotional Quotient, also know as emotional intelligence) 
Focuses on the strength of certain soft skills, and involves developing greater self-awareness and self-control, and developing the ability to empathize and see a variety of perspectives. 
 
 
 
Intrapreneurship 
Entrepreneurial activity ...
Four financial statements in order 
income statement, retained earnings statement, balance sheet, statement of cash flows 
 
 
 
Financial Accounting 
For internal and external use 
 
 
 
Management Accounting 
Only used internally 
 
 
 
General Accepted Accounting Principles (GAAP) 
the common set...
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Add to cartFour financial statements in order 
income statement, retained earnings statement, balance sheet, statement of cash flows 
 
 
 
Financial Accounting 
For internal and external use 
 
 
 
Management Accounting 
Only used internally 
 
 
 
General Accepted Accounting Principles (GAAP) 
the common set...
Research and Development 
defined as work directed towards the innovation, introduction, and improvement of produce and processes. 
 
 
 
Innovation 
1. Improve product quality 
2. Increase production capacity 
3. Extend product range 
 
 
 
Production 
the creation of goods and services using the f...
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Add to cartResearch and Development 
defined as work directed towards the innovation, introduction, and improvement of produce and processes. 
 
 
 
Innovation 
1. Improve product quality 
2. Increase production capacity 
3. Extend product range 
 
 
 
Production 
the creation of goods and services using the f...
While attending a film festival you decide there are 10 movies that you are interested in seeing. However you only have time to see 7 movies. In how many different ways can you watch 7 of the 10 movies? 
604,800 
 
 
 
A local pizzaera offers 12 toppings for their pizza and you can only choose any 4...
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Add to cartWhile attending a film festival you decide there are 10 movies that you are interested in seeing. However you only have time to see 7 movies. In how many different ways can you watch 7 of the 10 movies? 
604,800 
 
 
 
A local pizzaera offers 12 toppings for their pizza and you can only choose any 4...
Intrapreneurship 
process of promoting innovation within the structure of an existing organization 
 
 
 
How To Become Futureproof 
Hone irreplicable technical and soft skills 
Still expected to learn and understand routine tasks 
Use of professional judgement is still required 
Digital Literacy 
 ...
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Add to cartIntrapreneurship 
process of promoting innovation within the structure of an existing organization 
 
 
 
How To Become Futureproof 
Hone irreplicable technical and soft skills 
Still expected to learn and understand routine tasks 
Use of professional judgement is still required 
Digital Literacy 
 ...
Sole proprietorship 
one person owning and running 
pros-easy to create 
cons- unlimited liability, income tax at personal level 
 
 
 
(True) partnership 
like a sole proprietor but more than one owner 
cons-unlimited liability, income taxed at personal level 
 
 
 
Limited Partnership 
goal is to ...
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Add to cartSole proprietorship 
one person owning and running 
pros-easy to create 
cons- unlimited liability, income tax at personal level 
 
 
 
(True) partnership 
like a sole proprietor but more than one owner 
cons-unlimited liability, income taxed at personal level 
 
 
 
Limited Partnership 
goal is to ...
Managerial Accounting 
provides managers with essential information they can use to run organizations 
 
 
 
What are the 3 types of business organizations 
1. Service 
2. Merchandising 
3. Manufacturing 
 
 
 
Strategy 
Companies must develop a viable strategy to achieve their goals and objectives ...
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Add to cartManagerial Accounting 
provides managers with essential information they can use to run organizations 
 
 
 
What are the 3 types of business organizations 
1. Service 
2. Merchandising 
3. Manufacturing 
 
 
 
Strategy 
Companies must develop a viable strategy to achieve their goals and objectives ...
CSA 
Canadian Securities Administrators 
 
 
 
SEDAR 
System for Electronic Document Analysis and Retrieval 
 
 
 
ASPE 
Accounting Standards for Private Enterprises 
 
 
 
Characteristics that make accounting information useful 
Reliability 
Relevance 
Consistency 
Comparability 
 
 
 
AcSB 
Canadi...
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Add to cartCSA 
Canadian Securities Administrators 
 
 
 
SEDAR 
System for Electronic Document Analysis and Retrieval 
 
 
 
ASPE 
Accounting Standards for Private Enterprises 
 
 
 
Characteristics that make accounting information useful 
Reliability 
Relevance 
Consistency 
Comparability 
 
 
 
AcSB 
Canadi...
Dependent credit, eligible dependent person must be 
young, old or infirmed 
not earn very much money 
live with the taxpayer 
 
 
 
Eligible medical expenses for the credit are 
limited to items on a very long list 
(does not include everything that improves taxpayer's health ex. no supplements) 
...
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Add to cartDependent credit, eligible dependent person must be 
young, old or infirmed 
not earn very much money 
live with the taxpayer 
 
 
 
Eligible medical expenses for the credit are 
limited to items on a very long list 
(does not include everything that improves taxpayer's health ex. no supplements) 
...
John is looking to buy an established business. Which of these is not a question he should ask himself before buying it? 
a) Why is it up for sale? 
b) How much should I be paying? 
c) Will I have a lot of control over the business? 
d) None of the above 
c) Will I have a lot of control over the bus...
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Add to cartJohn is looking to buy an established business. Which of these is not a question he should ask himself before buying it? 
a) Why is it up for sale? 
b) How much should I be paying? 
c) Will I have a lot of control over the business? 
d) None of the above 
c) Will I have a lot of control over the bus...
A1 (Ch1) Role of Sen Fin Advisor 
 
What do investors care about 
1. Future 
2. Dividend 
3. Financing Plans 
4. Risk Management 
 
 
 
A1 (Ch1) Role of Sen Fin Advisor 
 
Shareholder wealth equation 
Total Shareholder Return 
 
(Dividend yield + capital gain) 
 
 
 
A1 (Ch1) Role of Sen Fin Advisor...
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Add to cartA1 (Ch1) Role of Sen Fin Advisor 
 
What do investors care about 
1. Future 
2. Dividend 
3. Financing Plans 
4. Risk Management 
 
 
 
A1 (Ch1) Role of Sen Fin Advisor 
 
Shareholder wealth equation 
Total Shareholder Return 
 
(Dividend yield + capital gain) 
 
 
 
A1 (Ch1) Role of Sen Fin Advisor...
What is the vital function of financial markets? 
Help facilitate transfer of capital 
 
 
 
What are the three components of the wealth transfer process? 
Financial instruments (what is actually bought / sold) 
 
Financial markets (facilitating / buying financial instruments) 
 
Financial intermedi...
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Add to cartWhat is the vital function of financial markets? 
Help facilitate transfer of capital 
 
 
 
What are the three components of the wealth transfer process? 
Financial instruments (what is actually bought / sold) 
 
Financial markets (facilitating / buying financial instruments) 
 
Financial intermedi...
Measurement approach to decision usefulness 
an approch to financial reporting under which: 
- accountants undertake responsibility to incorporate CV in the FS 
- providing it can be done with reasonable reliability 
- recognizes an increased obligation to assist investors to predict form performace...
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Add to cartMeasurement approach to decision usefulness 
an approch to financial reporting under which: 
- accountants undertake responsibility to incorporate CV in the FS 
- providing it can be done with reasonable reliability 
- recognizes an increased obligation to assist investors to predict form performace...
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