Changing an accounting estimate:
A. Is reported prospectively.
B. Requires restatement of all prior-period statements presented in the current financial statements.
C. Is reported by adjusting the beginning balance of retained earnings for the cumulative effect of the change.
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Which of the following is least likely considered a nonoperating transaction from the perspective of a manufacturing firm？
A. Dividends received from available-for-sale securities.
B. Interest expense on subordinated debentures.
C. Accruing bad debt expense for goods sold on credit.
Return on equity using the traditional DuPont formula equals:
A. （net profit margin）（interest component）（solvency ratio）.
B. （net profit margin）（total asset turnover）（tax retention rate）.
C. （net profit margin）（total asset turnover）（financial leverage multiplier）.
To study trends in a firms cost of goods sold （COGS）, the analyst should standardize the cost of goods sold numbers to a common-sized basis by dividing COGS by:
A. assets.
B. sales.
C. Net income.
Which of the following is least likely a change in cash flow from operations under U.S. GAAP？
A decrease in notes payable.
B. An increase in interest expense.
C. An increase in accounts payable.
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