Making Financial Decisions Related To Assets
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Making Financial Decisions Related To Assets
Question
Question 1
Earnings per share
- will increase if net income increases and number of shares remains constant.
- will increase if net income decreases and number of shares remains constant.
- is number of shares divided by net income.
- is the amount of money that goes into retained earnings on a per share basis.
- None of these.
2 points Save Answer
Question 2
Mart’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?
- $35,700
- $69,300
- $105,000
- $138,600
- $210,000
2 points Save Answer
Question 3
The financial statement summarizing a firm’s accounting performance over a period of time is the:
- income statement.
- balance sheet.
- statement of cash flows.
- tax reconciliation statement.
- shareholders’ equity sheet.
2 points Save Answer
Question 4
The financial statement showing a firm’s accounting value on a particular date is the:
- income statement.
- balance sheet.
- statement of cash flows.
- tax reconciliation statement.
- shareholders’ equity sheet.
2 points Save Answer
Question 5
Dividends per share is equal to dividends paid:
- divided by the par value of common stock.
- divided by the total number of shares outstanding.
- divided by total shareholders’ equity.
- multiplied by the par value of the common stock.
- multiplied by the total number of shares outstanding.
2 points Save Answer
Question 6
The long-term debts of a firm are liabilities:
- that come due within the next 12 months.
- that do not come due for at least 12 months.
- owed to the firm’s suppliers.
- owed to the firm’s shareholders.
- the firm expects to incur within the next 12 months.
2 points Save Answer
Question 7
When making financial decisions related to assets, you should:
- always consider market values.
- place more emphasis on book values than on market values.
- rely primarily on the value of assets as shown on the balance sheet.
- place primary emphasis on historical costs.
- only consider market values if they are less than book values.
2 points Save Answer
Question 8
A partnership:
- is taxed the same as a corporation.
- agreement defines whether the business income will be taxed like a partnership or a corporation.
- terminates at the death of any general partner.
- has less of an ability to raise capital than a proprietorship.
- allows for easy transfer of interest from one general partner to another.
2 points Save Answer
Question 9
Which one of the following parties is considered a stakeholder of a firm?
- Employee
- short-term creditor
- long-term creditor
- preferred stockholder
- common stockholder
2 points Save Answer
Question 10
A business formed by two or more individuals who each have unlimited liability for business debts is called a:
- corporation.
- sole proprietorship.
- general partnership.
- limited partnership.
- limited liability company.
2 points Save Answer
Question 11
The management of a firm’s short-term assets and liabilities is called:
- working capital management.
- debt management.
- equity management.
- capital budgeting.
- capital structure.
2 points Save Answer
Question 12
Financial managers should strive to maximize the current value per share of the existing stock because:
- doing so guarantees the company will grow in size at the maximum possible rate.
- doing so increases the salaries of all the employees.
- the current stockholders are the owners of the corporation.
- doing so means the firm is growing in size faster than its competitors.
- the managers often receive shares of stock as part of their compensation.
2 points Save Answer
Question 13
The treasurer and the controller of a corporation generally report to the:
- board of directors.
- chairman of the board.
- chief executive officer.
- president.
- chief financial officer.
2 points Save Answer
Question 14
Which one of the following is a capital budgeting decision?
- Determining how much debt should be borrowed from a particular lender
- Deciding whether or not to open a new store
- Deciding when to repay a long-term debt
- Determining how much inventory to keep on hand
- Determining how much money should be kept in the checking account
2 points Save Answer
Question 15
The person generally directly responsible for overseeing the cash and credit functions, financial planning, and capital expenditures is the:
- treasurer.
- director.
- controller.
- chairman of the board.
- chief operations officer.
RUBRIC
Excellent Quality
95-100%
Introduction 45-41 points
The background and significance of the problem and a clear statement of the research purpose is provided. The search history is mentioned.
Literature Support
91-84 points
The background and significance of the problem and a clear statement of the research purpose is provided. The search history is mentioned.
Methodology
58-53 points
Content is well-organized with headings for each slide and bulleted lists to group related material as needed. Use of font, color, graphics, effects, etc. to enhance readability and presentation content is excellent. Length requirements of 10 slides/pages or less is met.
Average Score
50-85%
40-38 points
More depth/detail for the background and significance is needed, or the research detail is not clear. No search history information is provided.
83-76 points
Review of relevant theoretical literature is evident, but there is little integration of studies into concepts related to problem. Review is partially focused and organized. Supporting and opposing research are included. Summary of information presented is included. Conclusion may not contain a biblical integration.
52-49 points
Content is somewhat organized, but no structure is apparent. The use of font, color, graphics, effects, etc. is occasionally detracting to the presentation content. Length requirements may not be met.
Poor Quality
0-45%
37-1 points
The background and/or significance are missing. No search history information is provided.
75-1 points
Review of relevant theoretical literature is evident, but there is no integration of studies into concepts related to problem. Review is partially focused and organized. Supporting and opposing research are not included in the summary of information presented. Conclusion does not contain a biblical integration.
48-1 points
There is no clear or logical organizational structure. No logical sequence is apparent. The use of font, color, graphics, effects etc. is often detracting to the presentation content. Length requirements may not be met
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