CFA一级备考中打好基础，每天的练习是必要的！

随着金融界的发展，CFA考试已经有越来越多的人报名，可是想要在这么多人中脱颖而出是需要在备考中付出努力的，尤其是在CFA一级备考中打好基础，每天的练习是必要的！

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

这道题的题干是比较长的，根据2021年CFA考生反映的情况来看CFA一级考题题干不长，但是也不排除有长的考试题哦！那这道题的答案是什么？如何解析这个题呢？

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.