隨著金融界的發(fā)展，CFA考試已經(jīng)有越來越多的人報(bào)名，可是想要在這么多人中脫穎而出是需要在備考中付出努力的，尤其是在CFA一級備考中打好基礎(chǔ)，每天的練習(xí)是必要的！

1、Earlier this year, Barracuda Company issued 5,000 employee stock options. Recently, 2,000 options were exercised at a price of $10 per share. To avoid dilution, Barracuda purchased 2,000 shares at an average price of $12 per share. Barracuda reported both transactions as financing activities in its cash flow statement. For analytical purposes, what adjustment is necessary to better reflect the substance of the stock repurchase?

Operating cash flow Financing cash flow

A. Decrease $4,000 No adjustment

B. No adjustment ?Increase $4,000

C. Decrease $4,000 Increase $4,000

這道題的題干是比較長的，根據(jù)2021年CFA考生反映的情況來看CFA一級考題題干不長，但是也不排除有長的考試題哦！那這道題的答案是什么？如何解析這個(gè)題呢？

答案：solution：C

answer：Barracuda reported a $4,000 net outflow from financing activities [2,000 options* （$12 average market price-$10 exercise price）]. However, since the options are a form of compensation, the $4,000 outflow should be reclassified as an operating activity for analytical purposes. This is accomplished by increasing financing cash flow $4,000 and decreasing operating cash flow $4,000.