Fin 571 final exam and the key

Final Exam Please supply your answers as prospers in the Assignment newsassemblage (Excel spreadfencing is preferred): 1. A 2. B 3. B, etc Chapter 1 The Goals and Functions of Financial Skill Multiple Choice Questions 1. What is the main aim of financial skill? A) Increased hues B) Maximizing coin stream C) Maximizing distributeholder plenty D) Minimizing endanger of the attached 2. The joint-attention contrive of construction A) avoids the enfold taxation of hues and dividends base in the municipal contrive of construction. B) usually supplys scant impost to the partners. C) has unscant conduct. D) simplifies resolution making. 3. Increased productivity due to technology has A) acceptiond fortifications' confidence on score for consummate comment needs. B) created comprehensiver asset scolds on the attached's unadorned pit fencing. C) made it cheaper (in stipulations of attention absorbs) for attacheds to hypothecate coin. D) helped to adhere-to municipal absorbs in bridle. 4. Insider trading arises when A) someone has notification not suited to the generally-known which they use to benefit-service from trading in funds. B) municipal officers buy fund in their crew. C) lawyers, siege bankers, and others buy sordid fund in companies represented by their attacheds. D) any fund transactions sum in permutation of the Federal Trade Commissions securityrictions on monopolies. Chapter 2 Review of Accounting 5. When a attached's hues are elapsing departed fast than its fund desert, its P/E proportion get: A) abide the resembling B) go up C) go down D) could go either up or down 6. The net desert of a attached A) is usually the resembling as the attached's trade scold. B) is agricultural on popular asset absorbs. C) is agricultural on popular liabilities. D) none of the aggravate. 7. A announcement of coin streams allows a financial analyst to indicate A) whether a coin dividend is affordable. B) how acceptions in asset accounts possess been financed. C) whether long-expression pis are nature financed succeeding a while long-expression or short-expression financing. D) all of the aggravate 8. A attached has $200,000 in popular pis, $400,000 in long-expression pis, $80,000 in popular liabilities, and $200,000 in long-expression liabilities. What is its net instituted consummate? A) $120,000 B) $320,000 C) $520,000 D) none of the aggravate Chapter 3 Financial Partition Multiple Choice Questions 9. The ______________ system of catalogue absorbing is lowest lovely to propel to inflation-induced benefit-services. A) FIFO B) LIFO C) Weighted medium D) Inferior of absorb or trade 10. The Bubba Corp. had net proceeds anteriorly taxes of $200,000 and sales of $2,000,000. If it is in the 50% tax bracket its succeeding-tax benefit-service room is: A) 5% B) 12% C) 20% D) 25% 11. XYZ's receivables turnaggravate is 10x. The accounts receivable at year-end are $600,000. The medium assembly date is 90 days (3 months). What was the sales type for the year? A) $60,000 B) $6,000,000 C) $24,000,000 D) none of the aggravate 12. A attached has sum pis of $2,000,000. It has $900,000 in long-expression score. The fundholders equity is $900,000. What is the sum score to asset proportion? A) 45% B) 40% C) 55% D) none of the aggravate Chapter 4 Financial Forecasting 13. Required formation during a planning date get continue on the A) prelude catalogue of products. B) sales during the date. C) desired raze of end catalogue. D) all of the aggravate 14. XYZ Co. has forecasted June sales of 600 units and July sales of 1000 units. The crew maintains end catalogue resembling to 125% of straightforward month's sales. June prelude catalogue mirrors this cunning. What is June's required formation? A) 1100 units B) -0- units C) 500 units D) 400 units 15. The destruction among sum avails and sum cancelments referred to as A) cumulative coin stream. B) prelude coin stream. C) net coin stream. D) coin pit. 16. In developing the pro contrivea proceeds announcement we prosper lewd main steps: 1) scold other payments, 2) indicate a formation catalogue, 3) demonstblame a sales propulsion, 4) indicate benefit-service by completing the objective pro contrivea announcement. What is the amend manage for these lewd steps? A) 1,2,3,4 B) 4,3,2,1 C) 2,1,3,4 D) 3,2,1,4 Difficulty: Medium Type: Conceptual Chapter 5 Munificent and Financial Leverage 17. In break-plain partition the assistance room is defined as A) sales minus mutable absorbs. B) sales minus agricultural absorbs. C) mutable absorbs minus agricultural absorbs. D) agricultural absorbs minus mutable absorbs. Difficulty: Easy Type: Memorization 18. Attached A employs a eminent blame of munificent leverage; Attached B takes a departed undestroyed entrance. Which of the prospering proportionately announcements encircling attacheds A and B is gentleman? A) A has a inferior break-plain object than B, but A's benefit-service grows faster succeeding the break-even. B) A has a eminenter break-plain object than B, but A's benefit-service grows sinferior succeeding the break-even. C) B has a inferior break-plain object than A, but A's benefit-service grows faster succeeding break-even. D) B has a inferior break-plain object than A, and benefit-service grows the resembling blame for twain companies succeeding the breakplain object. Difficulty: Hard Type: Application 19. Ponderous use of long-expression score may be salutary in an inflationary arrangement consequently A) the score may be rehired in departed "expensive" dollars. B) ostensible attention blames produce developed attention blames. C) inflation is associated succeeding a while the peak of a duty cycle. D) the score may be rehired in "cheaper" dollars. Difficulty: Medium Type: Conceptual 20. Below which of the prospering stipulations could the aggravateuse of financial leverage be hurtful to the attached? A) Stanch toil B) Cyclical require for the attached's products. C) Upswing of duty cycle. D) Low attention absorb paralleld to repay on pis Difficulty: Medium Type: Application Chapter 6 Instituted Consummate and the Financial Resolution 21. Endanger pitdrop due to ponderous short-expression hypothecateing can be consoled for by A) propeling eminently watery pis. B) propeling ilwatery pis. C) propeling longer expression, departed benefit-serviceable popular pis. D) propeling departed receivables to acception coin stream. Difficulty: Medium Type: Conceptual 22. When objective sales are superior than forecasted sales A) catalogue get discard. B) formation catalogues nerve possess to be revised upward. C) accounts receivable get mount. D) all of the aggravate Difficulty: Medium Type: Application 23. Produce curves diversify daily to mirror A) changing stipulations in the coin and consummate trades. B) new inflation foreseeations. C) changing stipulations in the aggravateall arrangement. D) all of the aggravate. Difficulty: Medium Type: Conceptual 24. Retail companies love Target and Scant Brands are departed lovely to possess A) stanch sales and hues per distribute. B) cyclical sales but less iively hues per distribute. C) cyclical sales and departed iively hues per distribute. D) cyclical sales but stanch accounts receivable and catalogue. Difficulty: Easy Type: Conceptual Chapter 7 Popular Asset Skill 25. When using the economic manage sum mould A) manageing absorbs acception as the raze of catalogue acceptions. B) propeling absorbs inferior as the raze of catalogue acceptions. C) absorbs are minimized when sum propeling absorbs and sum manageing absorbs are resembling. D) none of the aggravate Difficulty: Medium Type: Conceptual 26. Hedging A) is a way to defend your accounts receivable pose. B) acceptions endanger. C) is a legitimate agree to buy or vend a financial comings agree. D) can be carried out succeeding a while a comings agree. Difficulty: Medium Type: Conceptual 27. Which of the prospering is not a gentleman announcement encircling retail tractate? A) Finance tractate is sold quickly to the mortgagee by the finance crew. B) Finance tractate is to-boot referred to as straightforward tractate. C) Dealer tractate is sold quickly to the mortgagee by a finance crew. D) Industrial companies, benefit attacheds or finance companies too inferior to vend straightforward tractate vend dealer tractate. Difficulty: Medium Type: Memorization 28. Which of the prospering best describes the benefits to the hypothecateer of vending asset backed securities? A) Due to the portfolio pi, the hypothecateer can package up low capacity accounts receivable and vend them for a bribe desert. B) The hypothecateer trades coming coin streams for popular coin streams. C) The asset-backed pledge is lovely to propel a eminent pconstruct rating of AA or reform. D) b and c are amend. Difficulty: Easy Type: Conceptual 29. Desert Corp. is accordingly vending to a assemblage of new customers and creating new annual sales of $70,000. 5% get be uncollectible. The assembly absorb on these accounts is 3.5% of new sales, the absorb of unresisting and vending is 80% of sales and the attached is in the 31% tax bracket. What is the benefit-service on new sales? A) $5,554.50 B) $9,660.00 C) $7,245.00 D) none of the aggravate. Difficulty: Hard Type: Application Chapter 8 Sources of Short-Term Financing 30. Mr. Jones hypothecates $2,000 for 90 days and pays $35 attention. What is his piive blame of attention? A) 9.3% B) 7.0% C) 11.7% D) None of the aggravate Difficulty: Medium Type: Application 31. The perfect blame A) is the piive blame of attention for banks' best customers. B) has been perfectly iively during the departed two decades, melting as abundant as 8 percentage objects in a 12-month date. C) is usually inferior than place-of-calling score blames. D) none of the aggravate Difficulty: Medium Type: Memorization 32. Accounts receivable may be used as a commencement of financing by A) pledging the receivables as hypothecation connected. B) factoring the receivables to a finance crew. C) vending securities backed by the receivables. D) all of the aggravate Difficulty: Medium Type: Conceptual 33. The required enriching pit is usually scoldd as a A) percentage of customer hypothecations uncollected. B) factor of accounts receivable. C) percentage of the bank's commitments inside coming hypothecations. D) a and c are amend Difficulty: Medium Type: Conceptual Chapter 9 The Spell Scold of Coin 34. The concept of spell scold of coin is main to financial resolution making consequently A) it emphasizes wining a repay on invested consummate. B) it recognizes that wining a repay finds $1 desert departed today than $1 ordinary in the coming. C) it can be applied to coming coin streams in manage to parallel incongruous streams of proceeds. D) all of the aggravate Difficulty: Medium Type: Conceptual 35. Mr. Nailor invests $5,000 in a certificate of deposit at his persomal bank. He receives annual attention of 8% for 7 years. How abundant attention get his siege win during this spell date? A) $2,915 B) $3,570 C) $6,254 D) $8,570 Difficulty: Medium Type: Application 36. Mr. Fish wants to insert a progeny in 10 years. He estimates that the sum absorb get be $170,000. If he can put separeprove $10,000 at the end of each year, what blame of repay must he win in manage to possess the sum needed? A) Among 11% and 12% B) Among 8% and 9% C) 17% D) None of the aggravate Difficulty: Medium Type: Application Chapter 10 Valuation and Rates of Repay 37. A 20-year fastening pays 12% on a countenance scold of $1,000. If resembling fastenings are popularly submissive 9%, What is the trade scold of the fastening? Use annual partition. A) aggravate $1,000 B) below $1,000 C) aggravate $1,200 D) not ample notification absorbed to utter Difficulty: Easy Type: Application 38. An conclusion of preferred fund is paying an annual dividend of $5. The development blame for the attached's sordid fund is 14%. What is the preferred fund desert if the required blame of repay is 11%? A) $45.45 B) $41.67 C) $35.71 D) none of the aggravate Difficulty: Easy Type: Application 39. Which of the prospering does not swing the produce to manliness for a pledge? A) required developed blame of repay B) endanger bountiful blame C) duty endanger D) produces of resembling securities Difficulty: Medium Type: Conceptual 40. The absorb of sordid fund is usually superior than the ultimate dividend produce consequently A) investors discern endanger in sordid fund. B) investors foresee twain a popular dividend and coming development. C) dividends are not tax-deductible. D) the crew must find benefit-services anteriorly it can pay dividends. Difficulty: Easy Type: Memorization 41. The dividend valuation mould stresses the A) moment of hues per distribute. B) moment of dividends and legitimate rules for climax cancelment. C) sympathy of dividends to trade deserts. D) sympathy of dividends to hues per distribute. Difficulty: Easy Type: Memorization Chapter 11 Absorb of Consummate 42. Although score financing is usually the cheapest factor of consummate, it cannot be used to debauchery consequently A) attention blames may diversify. B) the attached's fund desert get acception and construct the absorb of equity financing. C) the financial endanger of the attached may acception and thus despatch up the absorb of all commencements of financing. D) belowwriting absorbs may diversify. Difficulty: Medium Type: Conceptual 43. Each contrivance should be judged opposite A) the biased resources of financing used to aid its implementation. B) the going attention blame at that object in spell. C) the absorb of new sordid fund equity. D) none of the aggravate. Difficulty: Medium Type: Conceptual 44. The absorb of score is indicated by offeration the A) offer scold of the attention cancelments and highest spells one minus the tax blame. B) unadorned produce on fastenings spells one minus the tax blame C) estimated produce on new fastening conclusions of the resembling endanger spells one minus the distributeholder roomal tax blame. D) none of the aggravate Difficulty: Medium Type: Conceptual 45. The pre-tax absorb of score for a new conclusion of score is indicated by A) the investor's required blame of repay on conclusiond fund. B) the coupon blame of strong score. C) the produce to manliness of uncollected fastenings. D) all of the aggravate. Difficulty: Medium Type: Conceptual Chapter 14 Consummate Markets 46. During the straightforward ten years, the superior intimidation to the lordship of the U.S. coin and consummate trades get succeed from A) Russia's inaptitude in transforming its arrangement into a consummateistic one. B) Japan's prolonged recession and banking crisis. C) The Euro-zone countries comprising the European Monetary Union and a one circulation. D) The gigantic Chinese arrangement and its scoreion plus fellow-creatures. Difficulty: Medium Type: Conceptual 47. Succeeding a while deference to the United States and its sympathy succeeding a while the security of the globe, it can be said that A) the U.S. has invested departed dollars in the security of the globe than exotic countries possess invested in the U.S. B) the U.S. has actively helped exotic countries finance the empire deficits. C) exotic investors confide comprehensive poses in U.S. empire securities. D) All of the aggravate. Difficulty: Medium Type: Memorization 48. Financial instruments in the consummate trades generally drop below what predicament in the Pit Sheet? A) Short-expression liabilities and equities. B) Long-expression liabilities and equities. C) Near coin pis. D) None of the aggravate. Difficulty: Easy Type: Conceptual Chapter 16 Long-Term Score and Lease Financing 49. Succeeding a while contemplate to attention blames and fastening deserts it can be said that A) a 1% diversify in attention blames get source a superior diversify in long-expression fastening deserts than short-expression deserts. B) a 1% diversify in attention blames get source a superior diversify in short-expression fastening deserts than long-expression deserts. C) long-expression blames are departed iively than short-expression blames. D) a inferior in attention blames get source fastening deserts to drop. Difficulty: Medium Type: Conceptual 50. Which one of these stipulations must be met for a lease to prepare as a consummate lease? A) The lease contains a chaffer escheatment desert at the end of the lease. B) The lease must possess a scold of at lowest $10 favorite. C) The lease must possess a conduct of 10 years. D) All of the aggravate. Difficulty: Medium Type: Memorization Chapter 17 Sordid and Preferred Fund Financing 51. Which of the prospering is not a gentleman announcement? A) Sordid fundholders possess a residual assertion to proceeds. B) Bondholders may nerve a fortification into closing for scarcity to find attention cancelments. C) Sordid fundholders are legitimately entitled to some dividend. D) A young-person attention can peaceful chosen members to the Board of Directors below cumulative voting plain though someone else owns 51% of the fund. Difficulty: Medium Type: Memorization 52. Kuhns Corp. has 200,000 distributes of preferred fund uncollected that is cumulative. The dividend is $6.50 per distribute and has not been hired for 3 years. If Kuhns wined $3 favorite this year, what could be the climax cancelment to the preferred fundholders on a per distribute basis? A) $19.50 per distribute B) $15.00 per distribute C) $13.00 per distribute D) $6.50 per distribute Difficulty: Easy Type: Application 53. When comparing sordid fund of the resembling crew it is unblemished to say that A) all distributes, no substance how sundry assortes, are all created succeeding a while the resembling resembling hues. B) companies rarely possess two incongruous assortes of distributes succeeding a while unresembling hues to dividends and votes. C) the Securities and Exdiversify Commission allows singly one assort of sordid fund. D) investors are inincongruous among assort A and assort B distributes. Difficulty: Easy Type: Memorization 54. Dr. J. wants to buy an IBM indivisible scoldr which get absorb $2,788 lewd years from today. He would love to set separeprove an resembling sum at the end of each year in manage to convene the sum needed. He can win 7% annual repay. How abundant should he set separate? A) $697.00 B) $627.93 C) $823.15 D) $531.81 Difficulty: Medium Type: Application Problems to be solved-Chapter 2 55. The prospering is the December 31, 2003 pit fencing for the Epics Corporation. Effects Liabilities Coin $ 70,000 Accounts Payable $ 100,000 Accounts Receivable 150,000 Notes Payable 120,000 Catalogue 280,000 Bonds Payable 300,000 Sum Popular Effects $ 500,000 Sum Liabilities $ 520,000 Insert and Equipment $1,250,000 Equity Less: Accum. Deprec. 250,000 Sordid Fund 300,000 Net insert and Equipment $1,000,000 Hired In Consummate 200,000 Retained Hues 480,000 Sum Effects $1,500,000 Sum Equity $ 980,000 Sum Liab. & Equity $1,500,000 Sales for 2003 were $2,000,000, succeeding a while the absorb of pi sold nature 55% of sales. Depreciation payment was 10% of the coarse insert and equipment at the prelude of the year. Attention payment was 9% on the notes payable and 11% on the fastenings payable. Selling and authoritative payments were $200,000 and the attached's tax blame is 40%. Prepare an proceeds announcement. Difficulty: Medium Answer: 56. Absorbed the financial notification for the A.E. Neuman Corporation, a) Prepare a Announcement of Coin Flows for the year ended December 31, 2002. b) What is the dividend payout proportion for 2003? c) If we acceptiond the dividend payout proportion to 100%, what would supervene to retained hues? Difficulty: Medium to Hard Answer:

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