FIN 571 Final Exam

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FIN 571 Final Exam (Newest)

1. In a general partnership, the general partners have _____ liability and have
_____ control over day-to-day operations.

limited; no

no; total

unlimited; no

limited; total

unlimited; total

2. Which one of these is a correct definition?

Long-term debt is defined as a residual claim on a firms assets.

Net working capital equals current assets plus current liabilities.

Current liabilities are debts that must be repaid in 18 months or less.

Tangible assets are fixed assets such as patents.

Current assets are assets with short lives, such as inventory.

3. The owners of a limited liability company generally prefer:

being taxed personally on all business income.

having liability exposure similar to that of a general partner.

having liability exposure similar to that of a sole proprietor.

being taxed like a corporation.

being taxed like a corporation with liability like a partnership.

4. Which one of the following is least apt to help convince managers to work in
the best interest of the stockholders?pay raises based on length of service

implementation of a stock option plan

threat of a proxy fight

management compensation tied to the market value of the firms stock

threat of a takeover of the firm by unsatisfied stockholders

5.
a. Compute the future value of $2,000 compounded annually for 20 years at 4
percent. (Do not round intermediate calculations and round your answer to 2
decimal places, e.g., 32.16.)
Future value

$_________

b. Compute the future value of $2,000 compounded annually for 15 years at 10

percent. (Do not round intermediate calculations and round your answer to 2
decimal places, e.g., 32.16.)
Future value

$_________

c. Compute the future value of $2,000 compounded annually for 25 years at 4

percent. (Do not round intermediate calculations and round your answer to 2
decimal places, e.g., 32.16.)
Future value

$_________

Read More: FIN 571 Final Exam (Newest)

FIN 571 Final Exam Quiz

FIN 571 Week 1 Quiz:
Multiple Choice Question 42
Which of the following business organizational forms subjects the owner(s) to
unlimited liability?

sole proprietorship

partnership

corporation

a and b

Multiple Choice Question 44

Which of the following business organizational forms is easiest to raise capital?

sole proprietorship

partnership

corporation

a and b

Multiple Choice Question 50

Which organizational form best enables the owners of the firm to monitor the
actions of other owners of the same firm?

private corporation

sole proprietorship

partnership

public corporation

Multiple Choice Question 81

Which of the following factors or activities can be controlled by the management

of the firm?

Stock market conditions.

Capital budgeting.

The level of economic activity.

The level of interest rates.

Multiple Choice Question 82

The legal system and market forces impose substantial costs on individuals and
institutions that engage in unethical behavior. Which of the following would not
be an example of the above?

Agency conflicts.

Jail time.

Financial losses.

Legal fines.

Read More: FIN 571 Week 1 Quiz

FIN 571 Week 2 Quiz:

Multiple Choice Question 53
Which one of the following statements about trend analysis is NOT correct?

It allows management to examine each ratio over time and determine

whether the trend is good or bad for the firm.

This benchmark is based on a firm's historical performance.

The Standard Industrial Classification (SIC) System is used to identify

benchmark firms.

All of these are true statements.

Multiple Choice Question 68

Coverage ratios: Sectors, Inc., has an EBIT of $7,221,643 and interest expense of
$611,800. Its depreciation for the year is $1,434,500. What is its cash coverage
ratio?

None of these

14.15 times

15.42 times

18.34 times

Multiple Choice Question 68

Multiples analysis: Turner Corp. has debt of $230 million and generated a net
income of $121 million in the last fiscal year. In attempting to determine the total
value of the firm, an investor identified a similar firm in Jacobs, Inc., an all-equity
firm. This firm had 150 million shares outstanding, a share price of $14.25, and
net income of $182 million. What is the total value of Turner Corp.? Round to the
nearest million dollars.

$1,715 million

$1,651 million

$1,421 million

$1,191 million

Read More: FIN 571 Week 2 Quiz

FIN 571 Week 3 Quiz:

Multiple Choice Question 32
The operating cycle

ends not with the finished goods being sold to customers and the cash
collected on the sales; but when you take into account the time taken by
the firm to pay for its purchases.

To measure operating cycle we need another measure called the days'

payables outstanding.

begins when the firm receives the raw materials it purchased that would be
used to produce the goods that the firm manufactures.

begins when the firm uses its cash to purchase raw materials and ends
when the firm collects cash payments on its credit sales.

Multiple Choice Question 57

You are provided the following working capital information for the Ridge
Company:
Ridge Company
Account

Inventory

$12,890

Accounts receivable

12,800

Accounts payable 12,670

Net sales

$124,589

Cost of goods sold

99,630

Operating cycle: What is the operating cycle for Ridge Company?

51 days

47 days

85 days

36 days

Multiple Choice Question 80

Ticktock Clocks sells 10,000 alarm clocks each year. If the total cost of placing an
order is $65 and it costs $85 per year to carry the alarm clock in inventory, use
the EOQ formula to calculate the optimal order size.

26,154 clocks

124 clocks

15,294 clocks

161 clocks

Read More: FIN 571 Week 3 Quiz

FIN 571 Week 4 Quiz | FIN 571 Week 5 Quiz | FIN 571 Week 6 Quiz

FIN 571 Connect Problems

FIN 571 Week 1 Connect Problems :
1. A business owned by a single individual is called a:

corporation.

sole proprietorship.

general partnership.

limited partnership.

limited liability company.

1 The decisions made by nancial managers should all be ones which

increase the:

size of the rm.

growth rate of the rm.

marketability of the managers.

market value of the existing owners' equity.

rms current sales.

1 The primary goal of nancial management is to:

maximize current dividends per share of the existing stock.

maximize the current value per share of the existing stock.

avoid nancial distress.

minimize operational costs and maximize rm eciency.

maintain steady growth in both sales and net earnings.

Read More: FIN 571 Week 1 Connect Problems

FIN 571 Week 2 Connect Problems:

1. Sankey, Inc., has current assets of $5,000, net fixed assets of $23,000,
current liabilities of $3,500, and long-term debt of $7,900. (Do not round
intermediate calculations.)
What is the value of the shareholders' equity account for this firm?
Shareholders' equity

$_________

How much is net working capital?

Net working capital

$_________

1 Which one of these accounts is classied as a current asset on the balance

sheet?

intangible asset

accounts payable

preferred stock

inventory

net plant and equipment

1 It is easier to evaluate a rm using its nancial statements when the rm:

is a conglomerate.

is global in nature.

uses the same accounting procedures as other rms in its industry.

has a different scal year than other rms in its industry.

tends to have one-time events such as asset sales and property

acquisitions.

1 The cash ow resulting from a rm's ongoing, normal business activities is

referred to as the:

operating cash ow.

net capital spending.

additions to net working capital.

cash ow to retained earnings.

cash ow to investors.

1 Which one of these is a non-cash item?

depreciation

interest expense

current taxes

dividends

selling expenses

Read More: FIN 571 Week 2 Connect Problems

FIN 571 Week 3 Connect Problems | FIN 571 Week 4 Connect

Problems | FIN 571 Week 5 Connect Problems

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