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FundamentalsofCorporateFinance,12e(Ross)
Chapter1IntroductiontoCorporateFinance
1)Whichoneofthefollowingfunctionsshouldbetheresponsibilityofthecontrollerratherthanthetreasurer?
A)Depositingcashreceipts
B)Processingcostreports
C)Analyzingequipmentpurchases
D)Approvingcreditforacustomer
E)Payingavendor
Answer:B
Difficulty:1Easy
Topic:Managementorganizationandroles
LearningObjective:01-01Definethebasictypesoffinancialmanagementdecisionsandtheroleofthefinancialmanager.
Bloom's:Understand
AACSB:ReflectiveThinking
Accessibility:KeyboardNavigation
2)Thetreasurerofacorporationgenerallyreportsdirectlytothe:
A)boardofdirectors.
B)chairmanoftheboard.
C)chiefexecutiveofficer.
D)president.
E)vicepresidentoffinance.
Answer:E
Difficulty:1Easy
Topic:Managementorganizationandroles
LearningObjective:01-01Definethebasictypesoffinancialmanagementdecisionsandtheroleofthefinancialmanager.
Bloom's:Remember
AACSB:ReflectiveThinking
Accessibility:KeyboardNavigation
3)Whichoneofthefollowingcorrectlydefinestheupwardchainofcommandinatypicalcorporateorganizationalstructure?
A)Thevicepresidentoffinancereportstothechairmanoftheboard.
B)Thechiefexecutiveofficerreportstothepresident.
C)Thecontrollerreportstothechieffinancialofficer.
D)Thetreasurerreportstothepresident.
E)Thechiefoperationsofficerreportstothevicepresidentofproduction.
Answer:C
Difficulty:1Easy
Topic:Managementorganizationandroles
LearningObjective:01-01Definethebasictypesoffinancialmanagementdecisionsandtheroleofthefinancialmanager.
Bloom's:Remember
AACSB:ReflectiveThinking
Accessibility:KeyboardNavigation
4)Anexampleofacapitalbudgetingdecisionisdeciding:
A)howmanysharesofstocktoissue.
B)whetherornottopurchaseanewmachinefortheproductionline.
C)howtorefinanceadebtissuethatismaturing.
D)howmuchinventorytokeeponhand.
E)howmuchmoneyshouldbekeptinthecheckingaccount.
Answer:B
Difficulty:1Easy
Topic:Financialmanagementdecisions
LearningObjective:01-01Definethebasictypesoffinancialmanagementdecisionsandtheroleofthefinancialmanager.
Bloom's:Understand
AACSB:ReflectiveThinking
Accessibility:KeyboardNavigation
5)Whenevaluatingthetimingofaproject'sprojectedcashflows,afinancialmanagerisanalyzing:
A)theamountofeachexpectedcashflow.
B)onlythestart-upcoststhatareexpectedtorequirecashresources.
C)onlythedateofthefinalcashflowrelatedtotheproject.
D)theamountbywhichcashreceiptsareexpectedtoexceedcashoutflows.
E)wheneachcashflowisexpectedtooccur.
Answer:E
Difficulty:1Easy
Topic:Financialmanagementdecisions
LearningObjective:01-01Definethebasictypesoffinancialmanagementdecisionsandtheroleofthefinancialmanager.
Bloom's:Understand
AACSB:ReflectiveThinking
Accessibility:KeyboardNavigation
6)Capitalstructuredecisionsincludedetermining:
A)whichoneoftwoprojectstoaccept.
B)howtoallocateinvestmentfundstomultipleprojects.
C)theamountoffundsneededtofinancecustomerpurchasesofanewproduct.
D)howmuchdebtshouldbeassumedtofundaproject.
E)howmuchinventorywillbeneededtosupportaproject.
Answer:D
Difficulty:1Easy
Topic:Financialmanagementdecisions
LearningObjective:01-01Definethebasictypesoffinancialmanagementdecisionsandtheroleofthefinancialmanager.
Bloom's:Understand
AACSB:ReflectiveThinking
Accessibility:KeyboardNavigation
7)Thedecisiontoissueadditionalsharesofstockisanexampleof:
A)workingcapitalmanagement.
B)anetworkingcapitaldecision.
C)capitalbudgeting.
D)acontroller'sduties.
E)acapitalstructuredecision.
Answer:E
Difficulty:1Easy
Topic:Financialmanagementdecisions
LearningObjective:01-01Definethebasictypesoffinancialmanagementdecisionsandtheroleofthefinancialmanager.
Bloom's:Understand
AACSB:ReflectiveThinking
Accessibility:KeyboardNavigation
8)Whichoneofthefollowingquestionsisaworkingcapitalmanagementdecision?
A)Shouldthecompanyissuenewsharesofstockorborrowmoney?
B)Shouldthecompanyupdateorreplaceitsolderequipment?
C)Howmuchinventoryshouldbeonhandforimmediatesale?
D)Shouldthecompanycloseoneofitscurrentstores?
E)Howmuchshouldthecompanyborrowtobuyanewbuilding?
Answer:C
Difficulty:1Easy
Topic:Financialmanagementdecisions
LearningObjective:01-01Definethebasictypesoffinancialmanagementdecisionsandtheroleofthefinancialmanager.
Bloom's:Understand
AACSB:ReflectiveThinking
Accessibility:KeyboardNavigation
9)Whichoneofthefollowingisaworkingcapitalmanagementdecision?
A)Whattype(s)ofequipmentis(are)neededtocompleteacurrentproject?
B)Shouldthefirmpaycashforapurchaseorusethecreditofferedbythesupplier?
C)Whatamountoflong-termdebtisrequiredtocompleteaproject?
D)Howmanysharesofstockshouldthefirmissuetofundanacquisition?
E)Shouldaprojectshouldbeaccepted?
Answer:B
Difficulty:1Easy
Topic:Financialmanagementdecisions
LearningObjective:01-01Definethebasictypesoffinancialmanagementdecisionsandtheroleofthefinancialmanager.
Bloom's:Understand
AACSB:ReflectiveThinking
Accessibility:KeyboardNavigation
10)Workingcapitalmanagementdecisionsincludedetermining:
A)theminimumlevelofcashtobekeptinacheckingaccount.
B)thebestmethodofproducingaproduct.
C)thenumberofemployeesneededtoworkduringaparticularshift.
D)whentoreplaceobsoleteequipment.
E)ifacompetitorshouldbeacquired.
Answer:A
Difficulty:1Easy
Topic:Financialmanagementdecisions
LearningObjective:01-01Definethebasictypesoffinancialmanagementdecisionsandtheroleofthefinancialmanager.
Bloom's:Understand
AACSB:ReflectiveThinking
Accessibility:KeyboardNavigation
11)Whichoneofthefollowingtermsisdefinedasthemanagementofafirm'slong-terminvestments?
A)Workingcapitalmanagement
B)Financialallocation
C)Agencycostanalysis
D)Capitalbudgeting
E)Capitalstructure
Answer:D
Difficulty:1Easy
Topic:Financialmanagementdecisions
LearningObjective:01-01Definethebasictypesoffinancialmanagementdecisionsandtheroleofthefinancialmanager.
Bloom's:Understand
AACSB:ReflectiveThinking
Accessibility:KeyboardNavigation
12)Whichoneofthefollowingtermsisdefinedasthemixtureofafirm'sdebtandequityfinancing?
A)Workingcapitalmanagement
B)Cashmanagement
C)Costanalysis
D)Capitalbudgeting
E)Capitalstructure
Answer:E
Difficulty:1Easy
Topic:Financialmanagementdecisions
LearningObjective:01-01Definethebasictypesoffinancialmanagementdecisionsandtheroleofthefinancialmanager.
Bloom's:Understand
AACSB:ReflectiveThinking
Accessibility:KeyboardNavigation
13)Afirm'sshort-termassetsanditsshort-termliabilitiesarereferredtoasthefirm's:
A)workingcapital.
B)debt.
C)investmentcapital.
D)netcapital.
E)capitalstructure.
Answer:A
Difficulty:1Easy
Topic:Financialmanagementdecisions
LearningObjective:01-01Definethebasictypesoffinancialmanagementdecisionsandtheroleofthefinancialmanager.
Bloom's:Remember
AACSB:ReflectiveThinking
Accessibility:KeyboardNavigation
14)Whichoneofthefollowingquestionsisleastlikelytobeaddressedbyfinancialmanagers?
A)Howshouldaproductbemarketed?
B)Shouldcustomersbegiven30or45daystopayfortheircreditpurchases?
C)Shouldthefirmborrowmoremoney?
D)Shouldthefirmacquirenewequipment?
E)Howmuchcashshouldthefirmkeeponhand?
Answer:A
Difficulty:1Easy
Topic:Financialmanagementdecisions
LearningObjective:01-01Definethebasictypesoffinancialmanagementdecisionsandtheroleofthefinancialmanager.
Bloom's:Understand
AACSB:ReflectiveThinking
Accessibility:KeyboardNavigation
15)Abusinessownedbyasolitaryindividualwhohasunlimitedliabilityforthefirm'sdebtiscalleda:
A)corporation.
B)soleproprietorship.
C)generalpartnership.
D)limitedpartnership.
E)limitedliabilitycompany.
Answer:B
Difficulty:1Easy
Topic:Formsofbusinessorganization
LearningObjective:01-03Articulatethefinancialimplicationsofthedifferentformsofbusinessorganization.
Bloom's:Understand
AACSB:ReflectiveThinking
Accessibility:KeyboardNavigation
16)Abusinessformedbytwoormoreindividualswhoeachhaveunlimitedliabilityforallofthefirm'sbusinessdebtsiscalleda:
A)corporation.
B)soleproprietorship.
C)generalpartnership.
D)limitedpartnership.
E)limitedliabilitycompany.
Answer:C
Difficulty:1Easy
Topic:Formsofbusinessorganization
LearningObjective:01-03Articulatethefinancialimplicationsofthedifferentformsofbusinessorganization.
Bloom's:Understand
AACSB:ReflectiveThinking
Accessibility:KeyboardNavigation
17)Abusinesspartnerwhosepotentialfinanciallossinthepartnershipwillnotexceedhisorherinvestmentinthatpartnershipiscalleda:
A)generalpartner.
B)soleproprietor.
C)limitedpartner.
D)corporateshareholder.
E)zeropartner.
Answer:C
Difficulty:1Easy
Topic:Formsofbusinessorganization
LearningObjective:01-03Articulatethefinancialimplicationsofthedifferentformsofbusinessorganization.
Bloom's:Understand
AACSB:ReflectiveThinking
Accessibility:KeyboardNavigation
18)Abusinesscreatedasadistinctlegalentityandtreatedasalegal"person"iscalleda(n):
A)corporation.
B)soleproprietorship.
C)generalpartnership.
D)limitedpartnership.
E)unlimitedliabilitycompany.
Answer:A
Difficulty:1Easy
Topic:Formsofbusinessorganization
LearningObjective:01-03Articulatethefinancialimplicationsofthedifferentformsofbusinessorganization.
Bloom's:Understand
AACSB:ReflectiveThinking
Accessibility:KeyboardNavigation
19)Whichoneofthefollowingstatementsconcerningasoleproprietorshipiscorrect?
A)Asoleproprietorshipisdesignedtoprotectthepersonalassetsoftheowner.
B)Theprofitsofasoleproprietorshiparesubjecttodoubletaxation.
C)Theownerofasoleproprietorshipispersonallyresponsibleforallofthecompany'sdebts.
D)ThereareveryfewsoleproprietorshipsremainingintheU.S.today.
E)Asoleproprietorshipisstructuredthesameasalimitedliabilitycompany.
Answer:C
Difficulty:1Easy
Topic:Formsofbusinessorganization
LearningObjective:01-03Articulatethefinancialimplicationsofthedifferentformsofbusinessorganization.
Bloom's:Understand
AACSB:ReflectiveThinking
Accessibility:KeyboardNavigation
20)Whichoneofthefollowingstatementsconcerningasoleproprietorshipiscorrect?
A)Thelifeofasoleproprietorshipislimited.
B)Asoleproprietorcangenerallyraiselargesumsofcapitalquiteeasily.
C)Transferringownershipofasoleproprietorshipiseasierthantransferringownershipofacorporation.
D)AsoleproprietorshipistaxedthesameasaCcorporation.
E)Asoleproprietorshipisthemostregulatedformoforganization.
Answer:A
Difficulty:1Easy
Topic:Formsofbusinessorganization
LearningObjective:01-03Articulatethefinancialimplicationsofthedifferentformsofbusinessorganization.
Bloom's:Understand
AACSB:ReflectiveThinking
Accessibility:KeyboardNavigation
21)Whichofthefollowingindividualshaveunlimitedliabilityforafirm'sdebtsbasedontheirownershipinterest?
A)Onlygeneralpartners
B)Onlysoleproprietors
C)Allstockholders
D)Bothlimitedandgeneralpartners
E)Bothgeneralpartnersandsoleproprietors
Answer:E
Difficulty:1Easy
Topic:Formsofbusinessorganization
LearningObjective:01-03Articulatethefinancialimplicationsofthedifferentformsofbusinessorganization.
Bloom's:Understand
AACSB:ReflectiveThinking
Accessibility:KeyboardNavigation
22)Theprimaryadvantageofbeingalimitedpartneris:
A)thereceiptoftax-freeincome.
B)thepartner'sactiveparticipationinthefirm'sactivities.
C)thelackofanypotentialfinancialloss.
D)thedailycontroloverthebusinessaffairsofthepartnership.
E)thepartner'smaximumlossislimitedtotheircapitalinvestment.
Answer:E
Difficulty:1Easy
Topic:Formsofbusinessorganization
LearningObjective:01-03Articulatethefinancialimplicationsofthedifferentformsofbusinessorganization.
Bloom's:Understand
AACSB:ReflectiveThinking
Accessibility:KeyboardNavigation
23)Ageneralpartner:
A)ispersonallyresponsibleforallpartnershipdebts.
B)hasnosayoverafirm'sdailyoperations.
C)facesdoubletaxationwhereasalimitedpartnerdoesnot.
D)hasamaximumlossequaltohisorherequityinvestment.
E)receivesasalaryinlieuofaportionoftheprofits.
Answer:A
Difficulty:1Easy
Topic:Formsofbusinessorganization
LearningObjective:01-03Articulatethefinancialimplicationsofthedifferentformsofbusinessorganization.
Bloom's:Understand
AACSB:ReflectiveThinking
Accessibility:KeyboardNavigation
24)Alimitedpartnership:
A)hasanunlimitedlife.
B)canopttobetaxedasacorporation.
C)terminatesatthedeathofanyonelimitedpartner.
D)hasatleastonepartnerwhohasunlimitedliabilityforallofthepartnership'sdebts.
E)consistssolelyoflimitedpartners.
Answer:D
Difficulty:1Easy
Topic:Formsofbusinessorganization
LearningObjective:01-03Articulatethefinancialimplicationsofthedifferentformsofbusinessorganization.
Bloom's:Understand
AACSB:ReflectiveThinking
Accessibility:KeyboardNavigation
25)Apartnershipwithfourgeneralpartners:
A)distributesprofitsbasedonpercentageofownership.
B)hasanunlimitedpartnershiplife.
C)limitstheactiveinvolvementinthefirmtoasinglepartner.
D)limitseachpartner'spersonalliabilityto25percentofthepartnership'stotaldebt.
E)mustdistribute25percentoftheprofitstoeachpartner.
Answer:E
Difficulty:1Easy
Topic:Formsofbusinessorganization
LearningObjective:01-03Articulatethefinancialimplicationsofthedifferentformsofbusinessorganization.
Bloom's:Understand
AACSB:ReflectiveThinking
Accessibility:KeyboardNavigation
26)Onedisadvantageofthecorporateformofbusinessownershipisthe:
A)limitedliabilityofitsshareholdersforthefirm'sdebts.
B)doubletaxationofdistributedprofits.
C)firm'sgreaterabilitytoraisecapitalthanotherformsofownership.
D)firm'spotentialforanunlimitedlife.
E)firm'sabilitytoissueadditionalsharesofstock.
Answer:B
Difficulty:1Easy
Topic:Formsofbusinessorganization
LearningObjective:01-03Articulatethefinancialimplicationsofthedifferentformsofbusinessorganization.
Bloom's:Understand
AACSB:ReflectiveThinking
Accessibility:KeyboardNavigation
27)Whichoneofthefollowingstatementsiscorrect?
A)ThemajorityoffirmsintheU.S.arestructuredascorporations.
B)Corporateprofitsaretaxableincometotheshareholderswhenearned.
C)Corporationscanhaveanunlimitedlife.
D)Shareholdersareprotectedfromallpotentiallosses.
E)Shareholdersdirectlyelectthecorporatepresident.
Answer:C
Difficulty:1Easy
Topic:Formsofbusinessorganization
LearningObjective:01-03Articulatethefinancialimplicationsofthedifferentformsofbusinessorganization.
Bloom's:Understand
AACSB:ReflectiveThinking
Accessibility:KeyboardNavigation
28)Whichoneofthefollowingstatementsiscorrect?
A)Ageneralpartnershipislegallythesameasacorporation.
B)Incomefrombothsoleproprietorshipsandpartnershipsthatistaxableistreatedasindividualincome.
C)Partnershipsarethemostcomplicatedtypeofbusinesstoform.
D)Allbusinessorganizationshavebylaws.
E)Onlyfirmsorganizedassoleproprietorshipshavelimitedlives.
Answer:B
Difficulty:1Easy
Topic:Formsofbusinessorganization
LearningObjective:01-03Articulatethefinancialimplicationsofthedifferentformsofbusinessorganization.
Bloom's:Understand
AACSB:ReflectiveThinking
Accessibility:KeyboardNavigation
29)Thearticlesofincorporation:
A)describethepurposeofthefirmandsetforththenumberofsharesofstockthatcanbeissued.
B)areamendedperiodicallyespeciallypriortocorporateelections.
C)explainhowcorporatedirectorsaretobeelectedandthelengthoftheirterms.
D)setsforththeproceduresbywhichafirmregulatesitself.
E)includeonlythecorporation'snameandintendedlife.
Answer:A
Difficulty:1Easy
Topic:Formsofbusinessorganization
LearningObjective:01-03Articulatethefinancialimplicationsofthedifferentformsofbusinessorganization.
Bloom's:Understand
AACSB:ReflectiveThinking
Accessibility:KeyboardNavigation
30)Corporatebylaws:
A)mustbeamendedshouldafirmdecidetoincreasethenumberofsharesauthorized.
B)cannotbeamendedonceadopted.
C)definethenamebywhichthefirmwilloperate.
D)describetheintendedlifeandpurposeoftheorganization.
E)determinehowacorporationregulatesitself.
Answer:E
Difficulty:1Easy
Topic:Formsofbusinessorganization
LearningObjective:01-03Articulatethefinancialimplicationsofthedifferentformsofbusinessorganization.
Bloom's:Understand
AACSB:ReflectiveThinking
Accessibility:KeyboardNavigation
31)Alimitedliabilitycompany:
A)canonlyhaveasingleowner.
B)iscomprisedoflimitedpartnersonly.
C)istaxedsimilartoapartnership.
D)istaxedsimilartoaCcorporation.
E)generatestotallytax-freeincome.
Answer:C
Difficulty:1Easy
Topic:Formsofbusinessorganization
LearningObjective:01-03Articulatethefinancialimplicationsofthedifferentformsofbusinessorganization.
Bloom's:Understand
AACSB:ReflectiveThinking
Accessibility:KeyboardNavigation
32)Whichbusinessformisbestsuitedtoraisinglargeamountsofcapital?
A)Soleproprietorship
B)Limitedliabilitycompany
C)Corporation
D)Generalpartnership
E)Limitedpartnership
Answer:C
Difficulty:1Easy
Topic:Formsofbusinessorganization
LearningObjective:01-03Articulatethefinancialimplicationsofthedifferentformsofbusinessorganization.
Bloom's:Understand
AACSB:ReflectiveThinking
Accessibility:KeyboardNavigation
33)A________hasalltherespectiverightsandprivilegesofalegalperson.
A)soleproprietorship
B)generalpartnership
C)limitedpartnership
D)corporation
E)limitedliabilitycompany
Answer:D
Difficulty:1Easy
Topic:Formsofbusinessorganization
LearningObjective:01-03Articulatethefinancialimplicationsofthedifferentformsofbusinessorganization.
Bloom's:Understand
AACSB:ReflectiveThinking
Accessibility:KeyboardNavigation
34)Sam,Alfredo,andJuanwanttostartasmallU.S.business.Juanwillfundtheventurebutwantstolimithisliabilitytohisinitialinvestmentandhasnointerestinthedailyoperations.Samwillcontributehisfulleffortsonadailybasisbuthaslimitedfundstoinvestinthebusiness.Alfredowillbeinvolvedasanactiveconsultantandmanagerandwillalsocontributefunds.SamandAlfredoarewillingtoacceptliabilityforthefirm'sdebtsastheyfeeltheyhavenothingtolosebydoingso.Allthreeindividualswillshareinthefirm'sprofitsandwishtokeeptheinitialorganizationalcostsofthebusinesstoaminimum.Whichformofbusinessentityshouldtheseindividualsadopt?
A)Soleproprietorship
B)Jointstockcompany
C)Limitedpartnership
D)Generalpartnership
E)Corporation
Answer:C
Difficulty:2Medium
Topic:Formsofbusinessorganization
LearningObjective:01-03Articulatethefinancialimplicationsofthedifferentformsofbusinessorganization.
Bloom's:Apply
AACSB:KnowledgeApplication
Accessibility:KeyboardNavigation
35)SallyandAliciaareequalgeneralpartnersinabusiness.Theyarecontentwiththeircurrentmanagementandtaxsituationbutareuncomfortablewiththeirunlimitedliability.Whichformofbusinessentityshouldtheyconsiderasareplacementtotheircurrentarrangementassumingtheywishtoremaintheonlytwoownersofthebusiness?
A)Soleproprietorship
B)Jointstockcompany
C)Limitedpartnership
D)Limitedliabilitycompany
E)Corporation
Answer:D
Difficulty:2Medium
Topic:Formsofbusinessorganization
LearningObjective:01-03Articulatethefinancialimplicationsofthedifferentformsofbusinessorganization.
Bloom's:Apply
AACSB:KnowledgeApplication
Accessibility:KeyboardNavigation
36)Thegrowthofbothsoleproprietorshipsandpartnershipsisfrequentlylimitedbythefirm's:
A)doubletaxation.
B)bylaws.
C)inabilitytoraisecash.
D)limitedliability.
E)agencyproblems.
Answer:C
Difficulty:1Easy
Topic:Formsofbusinessorganization
LearningObjective:01-03Articulatethefinancialimplicationsofthedifferentformsofbusinessorganization.
Bloom's:Understand
AACSB:ReflectiveThinking
Accessibility:KeyboardNavigation
37)Corporatedividendsare:
A)tax-freebecausetheincomeistaxedatthepersonallevelwhenearnedbythefirm.
B)tax-freebecausetheyaredistributionsofaftertaxincome.
C)tax-freesincethecorporationpaystaxonthatincomewhenitisearned.
D)taxedatboththecorporateandthepersonallevelwhenthedividendsarepaidtoshareholders.
E)taxableincomeoftherecipienteventhoughthatincomewaspreviouslytaxed.
Answer:E
Difficulty:1Easy
Topic:Formsofbusinessorganization
LearningObjective:01-03Articulatethefinancialimplicationsofthedifferentformsofbusinessorganization.
Bloom's:Understand
AACSB:ReflectiveThinking
Accessibility:KeyboardNavigation
38)Financialmanagersshouldprimarilyfocusontheinterestsof:
A)stakeholders.
B)thevicepresidentoffinance.
C)theirimmediatesupervisor.
D)shareholders.
E)theboardofdirectors.
Answer:D
Difficulty:1Easy
Topic:Goaloffinancialmanagement
LearningObjective:01-02Explainthegoaloffinancialmanagement.
Bloom's:Understand
AACSB:ReflectiveThinking
Accessibility:KeyboardNavigation
39)Whichoneofthefollowingbeststatestheprimarygoaloffinancialmanagement?
A)Maximizecurrentdividendspershare
B)Maximizethecurrentvaluepershare
C)Increasecashflowandavoidfinancialdistress
D)Minimizeoperationalcostswhilemaximizingfirmefficiency
E)Maintainsteadygrowthwhileincreasingcurrentprofits
Answer:B
Difficulty:1Easy
Topic:Goaloffinancialmanagement
LearningObjective:01-02Explainthegoaloffinancialmanagement.
Bloom's:Remember
AACSB:ReflectiveThinking
Accessibility:KeyboardNavigation
40)Whichoneofthefollowingbestillustratesthatthemanagementofafirmisadheringtothegoaloffinancialmanagement?
A)Anincreaseintheamountofthequarterlydividend
B)Adecreaseintheperunitproductioncosts
C)Anincreaseinthenumberofsharesoutstanding
D)Adecreaseinthenetworkingcapital
E)Anincreaseinthemarketvaluepershare
Answer:E
Difficulty:1Easy
Topic:Goaloffinancialmanagement
LearningObjective:01-02Explainthegoaloffinancialmanagement.
Bloom's:Understand
AACSB:ReflectiveThinking
Accessibility:KeyboardNavigation
41)Financialmanagersshouldstrivetomaximizethecurrentvaluepershareoftheexistingstockto:
A)guaranteethecompanywillgrowinsizeatthemaximumpossiblerate.
B)increaseemployeesalaries.
C)bestrepresenttheinterestsofthecurrentshareholders.
D)increasethecurrentdividendspershare.
E)providemanagerswithsharesofstockaspartoftheircompensation.
Answer:C
Difficulty:1Easy
Topic:Goaloffinancialmanagement
LearningObjective:01-02Explainthegoaloffinancialmanagement.
Bloom's:Understand
AACSB:ReflectiveThinking
Accessibility:KeyboardNavigation
42)Decisionsmadebyfinancialmanagersshouldprimarilyfocusonincreasingthe:
A)sizeofthefirm.
B)growthrateofthefirm.
C)grossprofitperunitproduced.
D)marketvaluepershareofoutstandingstock.
E)totalsales.
Answer:D
Difficulty:1Easy
Topic:Goaloffinancialmanagement
LearningObjective:01-02Explainthegoaloffinancialmanagement.
Bloom's:Understand
AACSB:ReflectiveThinking
Accessibility:KeyboardNavigation
43)TheSarbanes-OxleyActof2002isagovernmentalresponseto:
A)decreasingcorporateprofits.
B)theterroristattackson9/11/2001.
C)aweakeningeconomy.
D)deregulationofthestockexchanges.
E)managementgreedandabuses.
Answer:E
Difficulty:1Easy
Topic:Ethics,governance,andregulation
LearningObjective:01-04Explaintheconflictsofinterestthatcanarisebetweenmanagersandowners.
Bloom's:Understand
AACSB:ReflectiveThinking
Accessibility:KeyboardNavigation
44)WhichoneofthefollowingisanunintendedresultoftheSarbanes-OxleyAct?
A)Moredetailedandaccuratefinancialreporting
B)Increasedmanagementawarenessofinternalcontrols
C)Corporationsdelistingfrommajorexchanges
D)Increasedresponsibilityforcorporateofficers
E)Identificationofinternalcontrolweaknesses
Answer:C
Difficulty:1Easy
Topic:Ethics,governance,andregulation
LearningObjective:01-04Explaintheconflictsofinterestthatcanarisebetweenmanagersandowners.
Bloom's:Understand
AACSB:ReflectiveThinking
Accessibility:KeyboardNavigation
45)Afirmwhichoptsto"godark"inresponsetotheSarbanes-OxleyAct:
A)mustcontinuetoprovideauditedfinancialstatementstothepublic.
B)mustcontinuetoprovideadetailedlistofinternalcontroldeficienciesonanannualbasis.
C)canprovidelessinformationtoitsshareholdersthanitdidpriorto"goingdark".
D)cancontinuepubliclytradingitsstockbutonlyontheexchangeonwhichitwaspreviouslylisted.
E)ceasestoexist.
Answer:C
Difficulty:1Easy
Topic:Ethics,governance,andregulation
LearningObjective:01-04Explaintheconflictsofinterestthatcanarisebetweenmanagersandowners.
Bloom's:Understand
AACSB:ReflectiveThinking
Accessibility:KeyboardNavigation
46)TheSarbanes-OxleyActof2002holdsapubliccompany's________responsiblefortheaccuracyofthecompany'sfinancialstatements.
A)managers
B)internalauditors
C)externallegalcounsel
D)internallegalcounsel
E)SecuritiesandExchangeCommissionagent
Answer:A
Difficulty:1Easy
Topic:Ethics,governance,andregulation
LearningObjective:01-04Explaintheconflictsofinterestthatcan
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