أسئلة وأجوبة اختبار CMA - الجزء الأول والثاني
المجموعة الأولى
Question 1
Which of the following statements regarding dividends is correct?
A. A stock dividend of 15% of the outstanding common shares results in a debit to retained earnings at the par value of the stock distributed.
B. At the declaration date of a 30% stock dividend, the carrying value of retained earnings will be reduced by the fair market value of the stock distributed.
C. The declaration of a cash dividend will have no effect on book value per share.
D. The declaration and payment of a 10% stock dividend will result in a reduction of retained earnings at the fair market value of the stock.
Answer D is correct.
When a small stock dividend is declared (less than 20% to 25% of the previously outstanding common shares), retained earnings is debited for the fair value of the stock.
الترجمة:
عند إعلان توزيع أسهم صغيرة (أقل من 20% إلى 25% من الأسهم العادية المتداولة سابقًا)، يتم خصم الأرباح المحتجزة بالقيمة العادلة للأسهم.
Question 2
Which one of the following statements is correct regarding the effect preferred stock has on a company?
A. The firm’s after-tax profits are shared equally by common and preferred shareholders.
B. Control of the firm is now shared by the common and preferred shareholders, with preferred shareholders having greater control.
C. Preferred shareholders’ claims take precedence over the claims of common shareholders in the event of liquidation.
D. Nonpayment of preferred dividends places the firm in default, as does nonpayment of interest on debt.
Answer C is correct.
Preferred stockholders have preference over common stockholders with respect to dividend and liquidation rights, but payment of preferred dividends, unlike bond interest, is not mandatory.
الترجمة:
يتمتع حاملو الأسهم الممتازة بالأولوية على حاملي الأسهم العادية فيما يتعلق بتوزيعات الأرباح وحقوق التصفية، ولكن دفع توزيعات الأرباح الممتازة، على عكس فوائد السندات، ليس إلزاميًا.
Question 3
Which one of the following transactions does not affect the balance of retained earnings?
A. Declaration of a cash dividend.
B. Declaration of a stock dividend.
C. Declaration of a stock split.
D. Declaration of a property dividend.
Answer C is correct.
In a stock split, no journal entry is recorded and no retained earnings are reclassified.
الترجمة:
في تقسيم الأسهم، لا يتم تسجيل أي قيد في الدفاتر ولا يتم إعادة تصنيف الأرباح المحتجزة.
المجموعة الثانية
Question 8
A public company has declared a property dividend of one share of its investment in M corporation for every 10 shares of its common stock outstanding. The M shares were originally purchased by the company for $50 per share; on the date the dividend was declared, the market value was $75 per share. As a result of this declaration, the company should recognize:
A. A loss of $25 per share to be distributed.
B. A gain of $25 per share to be distributed.
C. No gain or loss.
D. An appropriate gain or loss based on the market value on the date of distribution.
Answer B is correct.
When a property dividend is declared, the property is remeasured at its fair value as of the declaration date ($75 - $50 = $25).
الترجمة:
عند إعلان توزيع ممتلكات، يتم إعادة تقييم الممتلكات بقيمتها العادلة اعتبارًا من تاريخ الإعلان (75 دولارًا - 50 دولارًا = 25 دولارًا).
Question 9
A corporation has 10,000,000 shares of $10 par-value stock authorized, of which 2,000,000 shares are issued and outstanding. The Board of Directors declared a 2-for-1 stock split on November 30 to be issued on December 30. The stock was selling for $30 per share on the date of declaration. In addition, the Board has amended the articles of incorporation to allow for a proportional increase in the number of authorized shares. The par-value information appearing in the shareholder’s equity section of the statement of financial position at December 31 will:
A. $5
B. $10
C. $15
D. $30
Answer A is correct.
As a result of the 2-for-1 stock split, the par value of Grand’s shares is halved to $5.
الترجمة:
نتيجة لتقسيم الأسهم 2 مقابل 1، يتم تخفيض القيمة الاسمية لأسهم الشركة إلى 5 دولارات.
Question 10
A company has 1,000,000 shares of common stock authorized, of which 100,000 shares are held as treasury shares; the remainder are held by the company shareholders. On November 1, the Board of Directors declared a cash dividend of $.10 per share to be paid on January 2. At the same time, the Board declared a 5% stock dividend to be issued on December 31. On the date of the declaration, the stock was selling for $10 a share, and no fractional shares were to be issued. The total amount of these declarations to be shown as current liabilities on the statement of financial position as of December 31 is:
A. $90,000
B. $100,000
C. $540,000
D. $600,000
Answer A is correct.
Cash dividends are only paid on outstanding shares. Thus, the dividend payable at December 31 is $90,000 (900,000 x $.10).
الترجمة:
يتم دفع توزيعات الأرباح النقدية فقط على الأسهم المتداولة. وبالتالي، فإن الأرباح النقدية المستحقة الدفع في 31 ديسمبر تبلغ 90,000 دولار (900,000 × 0.10 دولار).
Question 11
How would a stock split affect the par value of the stock and the company’s shareholders’ equity?
Par Value — Shareholders' Equity
A. Decrease — Increase
B. Decrease — No change
C. Increase — Decrease
D. Increase — No change
Answer B is correct.
A stock split reduces the par value of the stock and increases the number of shares outstanding, making it more attractive to investors. As with a stock dividend, each shareholder’s proportionate interest in the company and total book value remain unchanged.
الترجمة:
تقسيم الأسهم يقلل من القيمة الاسمية للسهم ويزيد من عدد الأسهم المتداولة، مما يجعله أكثر جاذبية للمستثمرين. وكما هو الحال في توزيعات الأسهم، تظل حصة كل مساهم في الشركة والقيمة الدفترية الإجمالية ثابتة.
