公司理财复习题Word格式文档下载.doc

公司理财复习题Word格式文档下载.doc

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2.Decisionsmadebyfinancialmanagersshouldprimarilyfocusonincreasingwhichoneofthefollowing?

sizeofthefirm

growthrateofthefirm

grossprofitperunitproduced

marketvaluepershareofoutstandingstock

totalsales

3.Whichoneofthefollowingisthefinancialstatementthatshowstheaccountingvalueofafirm'

sequityasofaparticulardate?

incomestatement

creditor'

sstatement

balancesheet

statementofcashflows

dividendstatement

4.Whichoneofthefollowingisthefinancialstatementthatsummarizesafirm'

srevenueandexpensesoveraperiodoftime?

taxreconciliationstatement

marketvaluereport

5.Thepercentageofthenextdollaryouearnthatmustbepaidintaxesisreferredtoasthe_____taxrate. 

mean

residual

total

average

marginal

EDCAE

6.Thecashflowofafirmwhichisavailablefordistributiontothefirm'

screditorsandstockholdersiscalledthe:

operatingcashflow.

netcapitalspending.

networkingcapital.

cashflowfromassets.

cashflowtostockholders.

7.CanineSupplyhassalesof$2,200,totalassetsof$1,400,andadebt-equityratioof0.3.Itsreturnonequityis15percent.Whatisthenetincome?

$138.16

$141.41

$152.09

$156.67

$161.54

8.BeachWearhascurrentliabilitiesof$350,000,aquickratioof1.65,inventoryturnoverof3.2,andacurrentratioof2.9.Whatisthecostofgoodssold?

$980,000

$1,060,000

$1,200,000

$1,400,000

$1,560,000

9.Thesustainablegrowthrateofafirmisbestdescribedasthe:

minimumgrowthrateachievableassuminga100percentretentionratio.

minimumgrowthrateachievableifthefirmmaintainsaconstantequitymultiplier.

maximumgrowthrateachievableexcludingexternalfinancingofanykind.

maximumgrowthrateachievableexcludinganyexternalequityfinancingwhilemaintainingaconstantdebt-equityratio.

maximumgrowthrateachievablewithunlimiteddebtfinancing.

10.Theinternalgrowthrateofafirmisbestdescribedasthe:

DEDDC

11.Whatisthepresentvalueof$1,100peryear,atadiscountrateof10percentifthefirstpaymentisreceived6yearsfromnowandthelastpaymentisreceived28yearsfromnow?

$6,067.36

$6,138.87

$6,333.33

$6,420.12

$6,511.08

12.Thecurrentyieldisdefinedastheannualinterestonabonddividedbywhichoneofthefollowing?

coupon

facevalue

marketprice

callprice

dirtyprice

13.Currently,thebondmarketrequiresareturnof11.6percentonthe10-yearbondsissuedbyWinstonIndustries.The11.6percentisreferredtoaswhichoneofthefollowing?

couponrate

facerate

callrate

yieldtomaturity

interestrate

14.BigFallsToursjustpaidadividendof$1.55pershare.Thedividendsareexpectedtogrowat30percentforthenext8yearsandthenlevelofftoa7percentgrowthrateindefinitely.Whatisthepriceofthisstocktodaygivenarequiredreturnof15percent?

$67.54

$69.90

$72.47

$77.67

$78.19

15.Hardwoods,Inc.isamaturemanufacturingfirm.Thecompanyjustpaida$10dividend,butmanagementexpectstoreducethepayoutby9percenteachyear,indefinitely.Howmuchareyouwillingtopaytodaypersharetobuythisstockifyourequirea15percentrateofreturn?

$34.79

$37.92

$38.27

$41.33

$42.09

ACDDB

16.Youareconsideringthefollowingtwomutuallyexclusiveprojects.Therequiredrateofreturnis14.6percentforprojectAand13.8percentforprojectB.Whichprojectshouldyouacceptandwhy?

projectA;

becauseithasthehigherrequiredrateofreturn

becauseitsNPVisabout$4,900morethantheNPVofprojectB

projectB;

becauseithasthelargesttotalcashinflow

becauseithasthelargestcashinflowinyearone

becauseithasthelowerrequiredreturn

17. 

Whichofthefollowingarecorrectaccordingtopecking-ordertheory?

I.Firmsstockpileinternally-generatedcash.

II.Thereisaninverserelationshipbetweenafirm'

sprofitlevelanditsdebtlevel.

III.Firmsavoidexternaldebtatallcosts.

IV.Af