This quiz covers key concepts from the first week's material in a business finance course. It contains 8 multiple choice questions testing understanding of topics like financial goals, market valuation, income statements, balance sheets, and ethical issues in financial management. The document encourages studying the questions to better learn the material for an upcoming exam.
The Financing Decision is yet another crucial decision made by the financial manager relating to the financing-mix of an organization. It is concerned with the borrowing and allocation of funds required for the investment decisions
The Financing Decision is yet another crucial decision made by the financial manager relating to the financing-mix of an organization. It is concerned with the borrowing and allocation of funds required for the investment decisions
Ten Myths of “Say On Pay”
Authors: Professor David F. Larcker, Stanford Graduate School of Business; Allan McCall, co-founder of Compensia and currently a PhD candidate at the Stanford GSB; Gaizka Ormazabal, Assistant Professor of Accounting at IESE Business School at the University of Navarra; and Brian Tayan, Researcher, Corporate Governance Research Program, Stanford GSB.
Published: July 28, 2012
Say on pay is the practice of granting shareholders the right to vote on a company’s executive compensation program at the annual shareholder meeting. Under the Dodd-Frank Act of 2010, publicly traded companies in the U.S. are required to adopt say on pay. Advocates of this approach believe that say on pay will increase the accountability of corporate directors and lead to improved compensation practices.
In recent years, several myths have come to be accepted by the media and governance experts. These myths include the beliefs that:
There is only one approach to “say on pay”
All shareholders want the right to vote on executive compensation
Say on pay reduces executive compensation levels Pay plans are a failure if they do not receive high shareholder support
Say on pay improves “pay for performance”
Plain-vanilla equity awards are not performance-based
Discretionary bonuses should not be allowed
Shareholders should reject nonstandard benefits
Boards should adjust pay plans to satisfy dissatisfied shareholders
Proxy advisory firm recommendations for say on pay are correct
We examine each of these myths in the context of the research evidence and explain why they are incorrect.
We ask:
* Should the U.S. rescind the requirement for mandatory say on pay and return to a voluntary regime?
Read the attached Closer Look and let us know what you think!
To receive monthly alerts about the Closer Look series, please email the Stanford Corporate Governance Research Program at corpgovernance@gsb.stanford.edu. You can also follow more corporate governance
Some of the major different theories of dividend in financial management are as follows: 1. Walter’s model 2. Gordon’s model 3. Modigliani and Miller’s hypothesis.
On the relationship between dividend and the value of the firm different theories have been advanced.
Mandatory Employee Leave: An In-Depth Analysis of State and Local LawsComplyRight, Inc.
Did you know that numerous states and cities have passed laws granting leave for workers to address certain health and family-related issues? And that many local governments mandate paid time off for being sick? Requiring employers to provide time off for employees is a growing trend, and it shows no signs of slowing down.
Mainly due to inaction at the federal level, many states and local governments have stepped up to grant employees time off in specific circumstances. These laws vary greatly from how much leave is allowed, how the time off is accrued, when employees can begin to use leave, and if the time can be carried over from year to year.
The concern for financing in a private limited company is on focus. Various pros and cons have been described to come into decision which way of financing is appropriate for the company. To avail the financing facilities, the company went ‘public’, that is, it became a public limited company from the existing private limited company. Company sold its shares to investors and collected money required. They also considered with the excess demands to utilize that as well.
Many people consider executive compensation to be excessive, but is it really? The answer may lay in the eye of the beholder. A thought provoking discussion on the topic.
Singapore GCE O Level Mathematics SyllabusDavid Yeng
The Singapore Mathematics is the world's best, adopted by thousands of schools around the world. It has been verified to be 2 years ahead of UK and US standards. However, it is also aligned to the UK system. Thus, you can be assured that when you use the Singapore Mathematics syllabus, your students will be more than prepared for the IGCSE!
Ten Myths of “Say On Pay”
Authors: Professor David F. Larcker, Stanford Graduate School of Business; Allan McCall, co-founder of Compensia and currently a PhD candidate at the Stanford GSB; Gaizka Ormazabal, Assistant Professor of Accounting at IESE Business School at the University of Navarra; and Brian Tayan, Researcher, Corporate Governance Research Program, Stanford GSB.
Published: July 28, 2012
Say on pay is the practice of granting shareholders the right to vote on a company’s executive compensation program at the annual shareholder meeting. Under the Dodd-Frank Act of 2010, publicly traded companies in the U.S. are required to adopt say on pay. Advocates of this approach believe that say on pay will increase the accountability of corporate directors and lead to improved compensation practices.
In recent years, several myths have come to be accepted by the media and governance experts. These myths include the beliefs that:
There is only one approach to “say on pay”
All shareholders want the right to vote on executive compensation
Say on pay reduces executive compensation levels Pay plans are a failure if they do not receive high shareholder support
Say on pay improves “pay for performance”
Plain-vanilla equity awards are not performance-based
Discretionary bonuses should not be allowed
Shareholders should reject nonstandard benefits
Boards should adjust pay plans to satisfy dissatisfied shareholders
Proxy advisory firm recommendations for say on pay are correct
We examine each of these myths in the context of the research evidence and explain why they are incorrect.
We ask:
* Should the U.S. rescind the requirement for mandatory say on pay and return to a voluntary regime?
Read the attached Closer Look and let us know what you think!
To receive monthly alerts about the Closer Look series, please email the Stanford Corporate Governance Research Program at corpgovernance@gsb.stanford.edu. You can also follow more corporate governance
Some of the major different theories of dividend in financial management are as follows: 1. Walter’s model 2. Gordon’s model 3. Modigliani and Miller’s hypothesis.
On the relationship between dividend and the value of the firm different theories have been advanced.
Mandatory Employee Leave: An In-Depth Analysis of State and Local LawsComplyRight, Inc.
Did you know that numerous states and cities have passed laws granting leave for workers to address certain health and family-related issues? And that many local governments mandate paid time off for being sick? Requiring employers to provide time off for employees is a growing trend, and it shows no signs of slowing down.
Mainly due to inaction at the federal level, many states and local governments have stepped up to grant employees time off in specific circumstances. These laws vary greatly from how much leave is allowed, how the time off is accrued, when employees can begin to use leave, and if the time can be carried over from year to year.
The concern for financing in a private limited company is on focus. Various pros and cons have been described to come into decision which way of financing is appropriate for the company. To avail the financing facilities, the company went ‘public’, that is, it became a public limited company from the existing private limited company. Company sold its shares to investors and collected money required. They also considered with the excess demands to utilize that as well.
Many people consider executive compensation to be excessive, but is it really? The answer may lay in the eye of the beholder. A thought provoking discussion on the topic.
Singapore GCE O Level Mathematics SyllabusDavid Yeng
The Singapore Mathematics is the world's best, adopted by thousands of schools around the world. It has been verified to be 2 years ahead of UK and US standards. However, it is also aligned to the UK system. Thus, you can be assured that when you use the Singapore Mathematics syllabus, your students will be more than prepared for the IGCSE!
Set to bring International education to a whole new level, the Singapore International Primary Years Program is a hybrid of of world's best International curriculum
FinanceTest ISummer 20191. Using the following data, prepare a .docxericn8
FinanceTest ISummer 2019
1. Using the following data, prepare a three-stage ROE decomposition (DuPont Analysis) for Home Depot.
Return on equity (ROE)
12%
Sales
$5,000
Current ratio
2.29
Dividend payout ratio
25%
Dividends paid
$100
Total liabilities
$4,000
Accounts payable
$600
My work:
1) ROE = Net Income/Sales x Sales/ Equity (or 12%)
2) ROE = Net Income/ Sales x Sales/Assets x Assets/Equity
or …….(400/5,000) (5,000/ Assets) (Assets/Equity)
3) ROE = (Net Profit Margin) (Asset Turnover) (Equity Multiple)
Side notes:
(Accounts Payable) (Current Ratio) = 1,374/ 600 = 2.29
Current assets = 1,374
Current Liability or Accounts payable = 600
Current ratio = 2.29
2. Your task is to update your firm’s long-term financial model (that was originally prepared last year). In financial modeling, a key assumption involves the firm’s dividend policy, as typically specified by the firm’s payout ratio.
You recognize many differences between today and last year.
Last year, the Treasury Yield Curve was upward sloping. Today, the Treasury Yield Curve is inverted. Last year, the Fed was expected to raise interest rates. Today, the Fed is expected to lower interest rates. We also know the following:
TodayLast year
Forward P/E
16
20
Equity Multiplier
2.50
1.95
Based on the differences described above, would you expect the payout ratio in this year’s financial model to be higher or lower than it was last year? Briefly explain.
Based on the differences above, I expect that the payout ratio in this year’s financial model to be lower along with short term headwinds. The earnings per share is going down and the price is taking a hit. Also, assets are leaning towards the heavier side.
3. Glencore will need to have $3,000 on June 20, 2023 (four years from now) to purchase new equipment. To accumulate this money, it will make four equal investments, with the first of the equal investments beginning one year from now.
a. If Glencore can earn an annual interest rate of 10%, how much must it invest per year?
My work:
P1 = 646.41 x 1.10
P2 = 646.41 x 1.10
P3 = 646.41 x 1.10
P4 = 646.41 x 1.10
Invest per year = $646.41
=PMT (10%,4,0,3000,0)
b. After presenting your findings from the above calculation, Glencore’s CFO asks you to consider an alternative scenario. Both changes are to occur today and will continue throughout the four years. You are to consider both changes simultaneously.
1. The interest rate will increase today and remain at that higher level.
2. There will still be four equal investments, but the first investment will occur immediately.
Without doing any calculations, how would these changes (considered simultaneously) affect your answer in part a? Using no more than 50 words, carefully justify your response. Do not write more 50 words.
My response:
With a higher rate (ex: 12%) Glencore’s money is working harder. If less money is put down, then more money will result in t.
Question 11. (Analyzing the cash flow Statement) Goggle,.docxmakdul
Question 1
1. (Analyzing the cash flow Statement) Goggle, Inc. is an Internet firm that has experienced a period of very rapid growth in revenues over the period 2008-2010. The cash flow statements for Goggle, Inc. spanning the period are below. Choose the best answer for the following question using the information found in these statements:
2.
Describe Google's main source of financing in the financial markets over the period.
3.
4.
Google's main source of financing in the financial markets over the period was the issuance of common stock for the amount of $985 million.
5.
6.
Google's main source of financing in the financial markets over the period was the issuance of debt for the amount of $10 million.
7.
8.
Google's main source of financing in the financial markets over the period was the issuance of common stock for the amount of $8,034.
9.
10.
Google's main source of financing in the financial markets over the period was the issuance of debt for the amount of $985 million.
Question 2
(Analyzing the cash flow Statement) Goggle, Inc. is an Internet firm that has experienced a period of very rapid growth in revenues over the period 2008-2010. The cash flow statements for Goggle, Inc. spanning the period are below. Choose the best answer for the following question using the information found in these statements:
How much did Goggle invest in new capital expenditures over the period? (Round to the nearest integer.)
The amount that Google invested in new capital expenditures over the period is $15,930 million.
The amount that Google invested in new capital expenditures over the period is $14,710 million.
The amount that Google invested in new capital expenditures over the period is $16,290 million.
The amount that Google invested in new capital expenditures over the period is $11,030 million.
Question 3
When managers have little or no ownership in the firm, they are less likely to work energetically for the company's shareholders. We call this type of conflict a(n) __________.
agency problem
ownership problem
management problem
moral problem
Question 4
(Analyzing the cash flow Statement) Goggle, Inc. is an Internet firm that has experienced a period of very rapid growth in revenues over the period 2007-2010. The cash flow statements for Goggle, Inc. spanning the period are below. Choose the best answer for the following question using the information found in these statements:
What years did Goggle generate positive cash flow from its operations?
Goggle has generated positive cash flow from its operations during the years 2007 and 2008.
Goggle has generated positive cash flow from its operations during the years 2008 and 2009.
Goggle has generated positive cash flow from its operations during the years 2009 and 2010.
Goggle has generated positive cash flow from its operations during the years 2008, 2009, and 2010.
Question 5
(Analyzing the cash flow Statement) Goggle, Inc. is an Intern ...
DLEON INC., PART Statements and Taxes Donna Jamison, a 2009 graduat.pdfarsmobiles
D\'LEON INC., PART Statements and Taxes Donna Jamison, a 2009 graduate of the University
of Florida with 4 years of assistant to the chairperson of the board of D\'Leon Inc., a small food
3-18 Financial banking experience, was recently brought in as snack foods national\" in
competition with Frito-Lay, Eagle, and other major roducer that operates in north Florida and
whose specialty is high-quality pecan and other nut products sold in the snack foods companies.
Watkins believed that market. D\'Leon\'s president, Al Watkins, decided in 2013 to undertake a
major expansion and to \"go s products were of higher quality than the competition\'s: that this
quality differential would enable it to arge a premium price; and that the end result would be
greatly increased sales, profits, and stock price. vertising campaign. D\'Leon\'s results were not
satisfactory, to put it mildly. Its board of directors, which the expansion was going. Unhappy
suppliers were being paid late; and the bank offices outside its home territory, and launched an
plant capacity, opened new sales businesspeople), was most ive consisted of its t, vice president,
and major stockholders (all of whom were local eteriorating situation, threatening to cut off
credit. As a result, Watkins was informed borna lamison was brought in and given the job of
assistant to Fred Campo, a retired banker who was D\'Leon\'s aJamison began by gathering the
financial statements and other data given in Tables IC 3.1, IC 3.2, IC 3.3, and was complaining
about the situati uicklv: otherwise, he would be fired. Also, at the board\'s insistence that changes
would have to be made-and q back to health, with Jamison\'s help. Note: We will continue with
er. Campo agreed to give up a few of his golfing days and help nurse the company s assistant.
You must help her answer the following questions for Campo. for Chapter 4. Provide clear
explanations.) this case in Chapter 4, and you will feel mo re comfortable with the analysis there.
But answering these questions will help prepare you king capital (NOwc), What effect did the
expansion have on sales, after-tax operating income, net operating wor and net income? b. What
effect did the company\'s expansion have on its free cash flow? c. D\'eon purchases materials on
30-day terms, meaning that it is supposed to pay for purchases within 30 days of receipt. Judging
from its 2014 balance sheet, do you think that D\'Leon pays suppliers on time? Explain, inclu
what problems might occur if suppliers are not paid in a timely manner d. D\'Leon spends money
for labor, materials, and fixed assets (depreciation) to make products - and spends stil more
money to sell those products. Then the firm makes sales that result in receivables, which
eventually result in cash inflows. Does it appear that D\'Leon\'s sales price exceeds its costs per
unit sold? How does this affect the cash balance? e. Suppose D\'Leon\'s sales manager told the
sales staff to start offering 60-day credit term.
Fin 571 Enhance teaching / snaptutorial.comBaileya4
For more classes visit
www.snaptutorial.com
Assignment Steps
Resources: Yahoo Finance
Select a Fortune 500 Company from one of the following industries:
• Pharmaceutical
• Energy
• Retail
• Automotive
• Computer Hardware
• Manufacturing
• Mining
Access Yahoo Finance and enter the company
FIN 571 Exceptional Education - snaptutorial.comDavisMurphyB2
For more classes visit
www.snaptutorial.com
Assignment Steps
Resources: Yahoo Finance
Select a Fortune 500 Company from one of the following industries:
• Pharmaceutical
• Energy
• Retail
FIN 571 Effective Communication - snaptutorial.comdonaldzs14
For more classes visit
www.snaptutorial.com
Assignment Steps
Resources: Yahoo Finance
Select a Fortune 500 Company from one of the following industries:
• Pharmaceutical
!#$&$()#+,(!1. Question Which of the following isar.docxkatherncarlyle
!"#$%&$'()*#+,(
!
1. Question : Which of the following is/are true?
I. Asset management ratio indicates how effectively a firm
generates profits on sales, assets and stockholder’s equity.
II. Liquidity ratios indicate the firm’s capacity to meet its
short-term financial obligations, but not its long-term
financial obligations.
III. Profitability ratios indicate how efficiently a firm is using
its assets to generate sales.
IV. Financial leverage ratios indicate the firm’s capacity to
meet its financial obligations, both short-term and long-term.
Student Answer:
II and IV
I and II
I, II, and IV
I and III
Question 2. Question : Which of the following is/are true?
I. When a loan is amortized over a five year term, the amount
of interest paid is decreased each year.
II. The effective annual rate of interest will always be equal
to or less than the nominal annual rate of interest.
III. An annuity due is the annuity in which the payments or
receipts occur at the beginning of each period.
IV. If the present value of a given sum is equal to its future
value, then the discount rate must be zero.
Student Answer:
IV only
III & IV
II, III & IV
I, III & IV
Question 3. Question : If a firm’s current ratio is 3.0,
Student Answer:
it is possible for its quick ratio to be larger than 3.0.
its current liabilities exceed its current assets.
it is possible for its quick ratio to be smaller than 3.0.
its current liabilities equal its current assets.
Ch 3
Ch 5
Ch 3
Question 4. Question : Which of the following is/are true?
I. The shareholder wealth maximization goal states that
management should seek to maximize the present value of
the expected future returns to the owners of the firm.
II. The primary reason for the agency problem between the
stockholders and managers is because of the separation of
ownership and management.
III. Protective covenants in a company's bond indentures are
used in agency relationships involving stockholders and
creditors.
IV. The fact that no investor can expect to earn excess
returns based on an investment strategy using only historical
stock price or return information is an example of
semistrong-form market efficiency.
Student Answer:
I and IV
I, II and IV
I, II and III
All of the above
Question 5. Question : If you’re a financial manager of a MNC (U.S. based) and you
anticipate that your company will need to pay C$2 million 6
months later. If you would like to make use of either forward
or futures or options contracts to fix your exchange rate
today, what is your strategy?
Student Answer:
BUY forward/futures contracts for C$2 million or BUY
call options for C$2 million.
SELL forward/futures contracts for C$2 million or BUY
call options for C$2 million.
BUY forward/futures contracts for C$2 million or ...
Fin 571 Education Organization-snaptutorial.comrobertlesew11
For more classes visit
www.snaptutorial.com
Assignment Steps
Resources: Yahoo Finance
Select a Fortune 500 Company from one of the following industries:
• Pharmaceutical
• Energy
• Retail
• Automotive
• Computer Hardware
• Manufacturing
Fin 571 Believe Possibilities / snaptutorial.comDavis17a
For more classes visit
www.snaptutorial.com
Assignment Steps
Resources: Yahoo Finance
Select a Fortune 500 Company from one of the following industries:
• Pharmaceutical
(TCO A) Which one of the following is an advantage of corporatio.docxmercysuttle
(TCO A) Which one of the following is an advantage of corporations relative to partnerships and sole proprietorships? (Points : 5)
Reduced legal liability for investors
Harder to transfer ownership
Lower taxes
Most common form of organization
Question 2. 2. (TCO A) When a corporation distributes a dividend, _____. (Points : 5)
the most common form of distribution is a cash dividend
the Dividends account will be increased with a credit
the Retained Earnings account will be directly increased with a debit
the Dividends account will be decreased with a debit
Question 3. 3. (TCOs A, B) Below is a partial list of account balances for Cerner Company:
Cash $5,000
Prepaid insurance 500
Accounts receivable 2,500
Accounts payable 2,000
Notes payable 3,000
Common stock 1,000
Dividends 500
Revenues 15,000
Expenses 12,500
What did Cerner Company show as total credits? (Points : 5)
$21,500
$21,000
$20,500
$22,000
Question 4. 4. (TCOs B, E) Under the accrual basis of accounting, _____. (Points : 5)
cash must be received before revenue is recognized
net income is calculated by matching cash outflows against cash inflows
events that change a company's financial statements are recognized in the period they occur rather than in the period in which cash is paid or received
the ledger accounts must be adjusted to reflect a cash basis of accounting before financial statements are prepared under generally accepted accounting principles
Question 5. 5. (TCO D) Three companies report the same cost of goods available for sale, but each employs a different inventory costing method. If the price of goods has increased during the period, then the company using _____. (Points : 5)
LIFO will have the highest ending inventory
FIFO will have the highest cost of goods sold
All three companies will have the same value for ending inventory.
average cost will have an ending inventory value that falls between FIFO and LIFO
Question 6. 6. (TCO A, E) Equipment was purchased for $17,000 on January 1, 2006. Freight charges amounted to $700 and there was a cost of $2,000 for building a foundation and installing the equipment. It is estimated that the equipment will have a $3,000 salvage value at the end of its 5-year useful life. What is the amount of accumulated depreciation at December 31, 2007, if the straight-line method of depreciation is used? (Points : 5)
$6,680
$3,340
$2,860
$5,720
Question 7. 7. (TCOs D, G) Lopez Corporation issues 500 ten-year, 8%, $1,000 bonds dated January 1, 2007, at 96. The journal entry to record the issuance will show a _____. (Points : 5)
debit to Cash of $500,000
credit to Discount on Bonds Payable for $20,000
...
For the most part, the BCG Potential Test (or BCG Online Test, BCG Reasoning Test) is a different version of the McKinsey Problem Solving Test. They serve the same purpose, test the same skills, and offered by top two firms in the same industry.
For more detail: http://mconsultingprep.com/bcg-potential-test/
BCO114 ACCOUNTING I Task brief & rubrics Task Final Ass.docxjasoninnes20
BCO114 ACCOUNTING I Task brief & rubrics
Task: Final Assignment (40% of the Final grade)
You must answer all the questions in the proposed business case.
This task assesses the following learning outcomes:
• Critically understand the differences between the methods of valuation of the inventory
• Knowing how to properly elaborate an income statement and determine the ending inventory balance.
LAUNCH: WEEK 10 / DELIVERY: MAY 10th, 2020, 23:59HRS ON MOODLE
Submission file format: Excel document with all the answers, clearly identifying all steps, results, journals and including comments besides each answer.
BUSINESS CASE (100 points)
Jim has recently opened a dry fruits wholesale company dedicated to the sale of peanuts, almonds and pistachios.
During its first month of activity, the company has made the following transactions:
February 2: Purchase of Pistachios: [email protected]$/Kg $ 25.000
Purchase of Almonds: 4.000Kg @ 5$/Kg $ 20.000
Purchas of Peanuts: 6.000Kg @ 3$/ Kg $ 18.000
February 3: Purchase of Pistachios: [email protected]$/Kg $18.000
Purchase of Almonds: 2.000Kg @ 6$/Kg $ 12.000
Purchas of Peanuts: 2.000Kg @ 4$/ Kg $ 18.000
mailto:[email protected]$/Kg
mailto:[email protected]$/Kg
February 6: Sold to several clients:
Pistachios: [email protected] 20$/Kg $40.000
Almonds: 2.500Kg @ 11$/Kg $ 27.500
Peanuts: 3.000Kg @ 7$/ Kg $ 21.000
February 6: Sold to Fruits Lovers Inc.:
Pistachios: 500Kg @20$/Kg. $ 10.000
Almonds: 1.000Kg @ 11$/Kg $ 11.000
Peanuts: 1.500Kg @ 8$/ Kg $ 12.000
February 12 Purchase of Pistachios: [email protected]$/Kg $ 21.000
Purchase of almonds: 2.000Kg @ 8$/Kg $ 16.000
February 13: Sale of peanuts to Peanuts Lovers Inc.: 3.500Kg @8$/kg $ 28.000
February 14: Purchase of Peanuts 6.000 Kg @4$/Kg $24.000
February 19: Sold to several clients:
Pistachios: [email protected] 21$/Kg. $ 21.000
Almonds: 1.500Kg @ 13$/Kg $ 19.500
Peanuts: 3.000Kg @ 9$/ Kg $ 27.000
February 25: Purchased from various suppliers:
Pistachios: [email protected]$/Kg. $ 13.000
mailto:[email protected]$/Kg
mailto:[email protected]$/Kg
Almonds: 1.000Kg @ 9$/Kg $ 9.000
Peanuts: 1.000Kg @ 4$/ Kg $ 4.000
Besides these transactions, the company has had the following expenses:
Salaries: $3500
Electricity bill: $300
Renting of equipment: &800
Rent of warehouse and office: $1.500
Miscellaneous: $1.200
Jim’s accountant recommended that he should use the average cost method in order to determine the cost of the inventory sold but he is not sur e about the
consequences it nay have on his financial situation
Relying on your accounting knowledge, Jim asks you the following questions:
1: Why in your opinion did Jim’s accountant recommend the average cost method and what difference is there whit the three other methods? Explain the main
c ...
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1. This is a sample of the
Week 1 Homework ES Quiz
DeVry BUSN379
I had an A average and barely passed this course!!!
If you study these questions you’ll be learn the material and be much better
prepared than I was.
1. Question :
(TCO 1) Which of the following statements is not true
regarding the goal of financial management?
The goal of maximizing the value per share of existing
stock is relevant to all organizations.
A way of aligning management goals to shareholder’s
interest is to tie managerial compensation to the market value
of the firm’s stock.
For a company considering international operations, the
goal will be the same but the company will have to consider
the local social, economical and political environment in the
decision-making process.
All of the above are true.
2. Question :
(TCO 1) Market values reflect which of the following:
The amount someone is willing to pay today for an asset.
The value of the asset based on generally-accepted
accounting principles.
The asset’s historical cost.
A and B only
3. Question :
For this question, use the information for Sports Baseballs,
Inc. Sports Baseballs, Inc. is a corporation that manufacturers
and sells baseballs across several states in the Southeast. It
had sales of $2.7 million during the last year. Expenses were
as follows:
Cost of goods sold............................... $1.2 million
2. Administrative expenses........................ $250,000
Marketing and selling expenses............... $175,000
Depreciation........................................ $500,000
Interest expense.................................. $200,000
Dividends paid..................................... $150,000
(TCO 1) Suppose that Sports Baseball has 20,000 shares of
stock. What is the dividends per share figure?
5.0
8.75
7.50
5.50
Chapter 2, page 28, Net Income/Total Shares Outstanding= $150,000 /20,000=$7.5
4. Question :
For this question, use the information for Sports Baseballs,
Inc. Sports Baseballs, Inc. is a corporation that manufacturers
and sells baseballs across several states in the Southeast. It
had sales of $2.7 million during the last year. Expenses were
as follows:
Cost of goods sold............................... $1.2 million
Administrative expenses........................ $250,000
Marketing and selling expenses............... $175,000
Depreciation........................................ $500,000
Interest expense.................................. $200,000
Dividends paid..................................... $150,000
(TCO 1) Assuming a tax rate of 30%, the percentage of
dividends per net income is approximately ______ and
operating cash flow is _________ than net income.
Hint: You need to calculate the net income and divide
dividends by the net income.
30% and lower
60% and lower
30% and higher
60% and higher
Answer: Dividends / net income = $150,000/$262,500 = 57.14%
Net Income = Taxable Income – Taxes = $375,000 - $112,500 = $262,500
3. Operating Cash Flow = EBIT + Depreciation – Taxes
EBIT = $2,700,000 – ($1,200,000+250,000+175,000+500,000) = $575,000
Taxable Income = EBIT – Interest = $575,000 - $200,000 = $375,000
Taxes = $375,000 x 30% = $112,500
Operating Cash Flow = $575,000 + $500,000 - $112,500 = $962,500
5. Question :
For this question, use the information for Sports Baseballs,
Inc. Sports Baseballs, Inc. is a corporation that manufacturers
and sells baseballs across several states in the Southeast. It
had sales of $2.7 million during the last year. Expenses were
as follows:
Cost of goods sold............................... $1.2 million
Administrative expenses........................ $250,000
Marketing and selling expenses............... $175,000
Depreciation........................................ $500,000
Interest expense.................................. $200,000
Dividends paid..................................... $150,000
(TCO 1) Select all items that will be included in Sports
Baseballs, Inc. Balance Sheet. For this exercise you will be
choosing more than one option for your answer:
Cash on hand
Fixed assets
Net sales
Administrative expenses
Taxes
Long-term debt
Dividends paid
Marketing expenses
Consulting revenues
6. Question :
(TCO 1) Which one of the following activities best exemplify
working capital management. For this exercise you will be
choosing more than one option for your answer:
4. Identify three good investment opportunities for the firm.
Obtain a short-term loan to purchase materials.
Assess the level of inventory to be kept on hand.
Sale long-term bonds to raise funds for a new machine.
Determine the return of a potential project.
Calculate the cash flows for a project.
Manage payments to suppliers.
7. Question :
(TCO 1) Match the following terms with the examples as appropriate:
3
: Insider
trading
» 3 : Martha Stewart's sale of ImClone stock as result of
information provided by the company's CEO before an
announcement was made public that significantly
decrease ImClone's stock price.
1
: Social
responsibility
» 1 :McDonald's work to redesign packaging items with
recyclable materials.
5
: Sarbanes-
Oxley Act
» 5 :established an oversight board responsible for
improving auditing standards within companies.
4
: Fraud
» 4 :Parmalat's deliberate fraudulent accounting practices.
2
: Antitrust
case
» 2 :Microsoft's monopolistic behavior.
(Chapter 1, pages 12-15 and Lecture)
8. Question :
(TCO 1) Can you provide some examples of situations in which
business ethics play a role in the financial management
process?
(p.10-12)
- environmental clean-up
- employee safety programs
- outsourcing and offshoring
- move operations to foreign countries for tax advantages
- downsizing / cut jobs to increase shareholder value