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Davenport FINC620 week 1 quiz 2016Davenport FINC620 week 1 quiz 2016

by | Jun 18, 2022 | Questions & Answers

QuestionQuestion 1Earnings per shareA. will increase if net income increases and number of shares remains constant.B. will increase if net income decreases and number of shares remains constant.C. is number of shares divided by net income.D. is the amount of money that goes into retained earnings on a per share basis.E. None of these.2 points Save AnswerQuestion 2Mart’s Boutique has sales of $670,000 and costs of $460,000. Interest expense is $50,000 and depreciation is $55,000. The tax rate is 34%. What is the net income?A. $35,700B. $69,300C. $105,000D. $138,600E. $210,0002 points Save AnswerQuestion 3The financial statement summarizing a firm’s accounting performance over a period of time is the:A. income statement.B. balance sheet.C. statement of cash flows.D. tax reconciliation statement.E. shareholders’ equity sheet.2 points Save AnswerQuestion 4The financial statement showing a firm’s accounting value on a particular date is the:A. income statement.B. balance sheet.C. statement of cash flows.D. tax reconciliation statement.E. shareholders’ equity sheet.2 points Save AnswerQuestion 5Dividends per share is equal to dividends paid:A. divided by the par value of common stock.B. divided by the total number of shares outstanding.C. divided by total shareholders’ equity.D. multiplied by the par value of the common stock.E. multiplied by the total number of shares outstanding.2 points Save AnswerQuestion 6The long-term debts of a firm are liabilities:A. that come due within the next 12 months.B. that do not come due for at least 12 months.C. owed to the firm’s suppliers.D. owed to the firm’s shareholders.E. the firm expects to incur within the next 12 months.2 points Save AnswerQuestion 7When making financial decisions related to assets, you should:A. always consider market values.B. place more emphasis on book values than on market values.C. rely primarily on the value of assets as shown on the balance sheet.D. place primary emphasis on historical costs.E. only consider market values if they are less than book values.2 points Save AnswerQuestion 8A partnership:A. is taxed the same as a corporation.B. agreement defines whether the business income will be taxed like a partnership or a corporation.C. terminates at the death of any general partner.D. has less of an ability to raise capital than a proprietorship.E. allows for easy transfer of interest from one general partner to another.2 points Save AnswerQuestion 9Which one of the following parties is considered a stakeholder of a firm?A. EmployeeB. short-term creditorC. long-term creditorD. preferred stockholderE. common stockholder2 points Save AnswerQuestion 10A business formed by two or more individuals who each have unlimited liability for business debts is called a:A. corporation.B. sole proprietorship.C. general partnership.D. limited partnership.E. limited liability company.2 points Save AnswerQuestion 11The management of a firm’s short-term assets and liabilities is called:A. working capital management.B. debt management.C. equity management.D. capital budgeting.E. capital structure.2 points Save AnswerQuestion 12Financial managers should strive to maximize the current value per share of the existing stock because:A. doing so guarantees the company will grow in size at the maximum possible rate.B. doing so increases the salaries of all the employees.C. the current stockholders are the owners of the corporation.D. doing so means the firm is growing in size faster than its competitors.E. the managers often receive shares of stock as part of their compensation.2 points Save AnswerQuestion 13The treasurer and the controller of a corporation generally report to the:A. board of directors.B. chairman of the board.C. chief executive officer.D. president.E. chief financial officer.2 points Save AnswerQuestion 14Which one of the following is a capital budgeting decision?A. Determining how much debt should be borrowed from a particular lenderB. Deciding whether or not to open a new storeC. Deciding when to repay a long-term debtD. Determining how much inventory to keep on handE. Determining how much money should be kept in the checking account2 points Save AnswerQuestion 15The person generally directly responsible for overseeing the cash and credit functions, financial planning, and capital expenditures is the:A. treasurer.B. director.C. controller.D. chairman of the board.E. chief operations officer.   

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