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INTERPRETING NON-GAAP REPORTS EXAM FROM WALL STREET PREP LATEST VERSION A+ GRADED $15.99   Add to cart
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INTERPRETING NON-GAAP REPORTS EXAM FROM WALL STREET PREP LATEST VERSION A+ GRADED
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INTERPRETING NON-GAAP REPORTS EXAM FROM WALL STREET PREP LATEST VERSION A+ GRADED/INTERPRETING NON-GAAP REPORTS EXAM FROM WALL STREET PREP LATEST VERSION A+ GRADED/INTERPRETING NON-GAAP REPORTS EXAM FROM WALL STREET PREP LATEST VERSION A+ GRADED

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  • September 26, 2024
  • 17
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers

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  • interpreting non gaap reports exam

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  • FINC - Finance
  • FINC - Finance

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INTERPRETING NON-GAAP REPORTS EXAM FROM
WALL STREET PREP LATEST VERSION 2024-2025 A+
GRADED




Question 1 of 18




Which of the below statements is MOST ACCURATE?

The primary purpose of non-GAAP disclosures is to:

Provide investors a set of financial statements and disclosures ahead of GAAP reports included within 10Q
and 10Ks.


Modify GAAP to provide a more comprehensive detail of income and expense categories.


Modify GAAP to better align the reporting of performance with how investors want to see the data.



Modify GAAP to make it easier for investors to reconcile GAAP measures of profit to cash flow measures of
profit.

Question 2 of 18

All else being equal, a non-GAAP disclosure that identifies stock-based compensation expense will show

Higher non-GAAP operating income than GAAP operating income


Lower non-GAAP operating income than GAAP operating income


No difference between GAAP and non-GAAP operating income


No difference between GAAP and non-GAAP net income

Question 3 of 18

A company reporting under US GAAP seeking to present a more favorable view of operating income in its quarterly earnings
release could:




https://www.wallstreetprep.com/wsp_exam/interpreting-non-gaap-reports-retake-exam-v1/?assigned=true 1/17

, INTERPRETING NON-GAAP REPORTS EXAM FROM
WALL STREET PREP LATEST VERSION 2024-2025 A+
GRADED

Identify a gain on sale in a non-GAAP reconciliation.



Identify a restructuring charge (expense) in a non-GAAP reconciliation.



Identify a loss in the fair value of an equity investment.



Elect to not recognize stock-based compensation on its GAAP income statement.



All of the above.




https://www.wallstreetprep.com/wsp_exam/interpreting-non-gaap-reports-retake-exam-v1/?assigned=true 2/17

, INTERPRETING NON-GAAP REPORTS EXAM FROM
WALL STREET PREP LATEST VERSION 2024-2025 A+
GRADED
Question 4 of 18

Which of the following non-GAAP disclosures is LEAST LIKELY to create variance between GAAP and non-GAAP operating
income:

Goodwill impairment


Inventory write down


Currency loss from closing of a foreign subsidiary


Gain on sale of an asset

Question 5 of 18

Which one of these items will MOST LIKELY be reported after-tax below net income?

Restructuring expenses


Asset impairment charge


Gains/losses from discontinued operations


Gains/losses on sale of assets




https://www.wallstreetprep.com/wsp_exam/interpreting-non-gaap-reports-retake-exam-v1/?assigned=true 3/17

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