及答案(Test_Bank)Principles_of_Corporate_Finance 12th_Edition_by_Richard_Brealey.docx
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1.Thisbookismainlyabout
A.financialdecisionsmadebycorporations.
B.financialdecisionsmadebyhouseholds.
C.financialdecisionsmadebygovernments.
D.financialdecisionsmadebyemployees.
Accessibility:
KeyboardNavigation
Difficulty:
Basic
2.Shareholdersofacorporationmaybe,amongothers,
A.individuals.
B.individualsandpensionfunds.
C.pensionfunds.
D.individuals,pensionfunds,andinsurancecompanies.
Accessibility:
KeyboardNavigation
Difficulty:
Intermediate
3.Generally,acorporationisownedbyits
A.managers.
B.boardofdirectorsandshareholders.
C.shareholders.
D.managers,boardofdirectors,andshareholders.
Accessibility:
KeyboardNavigation
Difficulty:
Basic
4.Acorporation,potentially,hasinfinitelifebecauseit
A.isalegalentity.
B.hasthesameownershipandmanagement.
C.haslimitedliability.
D.iscloselyregulated.
Accessibility:
KeyboardNavigation
Difficulty:
Intermediate
5.Limitedliabilityisanimportantfeatureof
A.soleproprietorships.
B.partnerships.
C.corporations.
D.bothpartnershipsandcorporations.
Accessibility:
KeyboardNavigation
Difficulty:
Basic
6.Asalegalentity,acorporationcanperformthefollowingfunctionsexcept
A.borrowmoneyandlendmoney.
B.borrowmoney,lendmoney,andsueandbesued.
C.vote.
D.borrowmoney,lendmoney,sueandbesued,andvote.
Accessibility:
KeyboardNavigation
Difficulty:
Intermediate
7.Whichofthefollowingassetsistangible?
A.ExxonMobil'scorporateheadquartersbuilding
B.AppleInc.'strademark
C.Hewlett-Packard'smostrecentprinterpatent
D.Microsoft'stechnicalexpertise
Accessibility:
KeyboardNavigation
Difficulty:
Intermediate
8.Whichofthefollowingtypesofassetsareintangible?
A.Productionmachinery
B.Factories
C.Trademarks
D.Officeequipment
Accessibility:
KeyboardNavigation
Difficulty:
Intermediate
9.Afirm'sinvestmentdecisionisalsocalledits
A.financingdecision.
B.liquiditydecision.
C.capitalbudgetingdecision.
D.leasingdecision.
Accessibility:
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Difficulty:
Intermediate
10.Whichofthefollowingisnotafinancialasset?
A.Commonstock
B.Bankloans
C.Preferredstock
D.Buildings
Accessibility:
KeyboardNavigation
Difficulty:
Intermediate
11.Whichofthefollowingisanimportantfunctionoffinancialmarkets?
A.Providingfinancing
B.Providingfinancingandliquidity
C.Providingfinancing,providingliquidity,reducingrisk,andprovidinginformation
D.Providinginformation
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Difficulty:
Intermediate
12.Disadvantagesofthecorporateforminclude
A.agencycosts.
B.doubletaxation.
C.costofmanagingthecorporation.
D.alloftheoptions.
Accessibility:
KeyboardNavigation
Difficulty:
Intermediate
13.Intheprincipal–agentframework,
A.shareholdersaretheprincipals.
B.managersaretheprincipals.
C.managersaretheagents.
D.shareholdersaretheprincipalsandmanagersaretheagents.
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Difficulty:
Intermediate
14.Costsassociatedwiththeconflictsofinterestbetweenthebondholdersandtheshareholdersofacorporationarecalled
A.legalcosts.
B.bankruptcycosts.
C.administrativecosts.
D.agencycosts.
Accessibility:
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Difficulty:
Challenge
15.Acorporationmayincuragencycostsbecause
A.managersmaynotattempttomaximizethevalueofthefirmtoshareholders.
B.shareholdersincurmonitoringcosts.
C.oftheseparationofownershipandmanagement.
D.alloftheresponsesarecorrect.
Accessibility:
KeyboardNavigation
Difficulty:
Intermediate
16.Thefollowinggroupsaresomeoftheclaimantstoafirm'sincomestream
A.shareholdersandbondholdersonly.
B.shareholders,bondholders,andemployeesonly.
C.shareholders,bondholders,employees,andmanagementonly.
D.shareholders,bondholders,employees,management,andgovernment.
Accessibility:
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Difficulty:
Intermediate
17.Thefinancialgoalofacorporationisto
A.maximizeprofits.
B.maximizesales.
C.maximizethevalueofthefirmfortheshareholders.
D.maximizemanagers'benefits.
Accessibility:
KeyboardNavigation
Difficulty:
Challenge
18.Thefirm'spurchaseofrealassetsisalsoreferredtoasthe
A.capitalstructuredecision.
B.CFOdecision.
C.financingdecision.
D.capitalinvestmentdecision.
Accessibility:
KeyboardNavigation
Difficulty:
Basic
19.Thesaleoffinancialassetsbyacorporationisalsoreferredtoasthe
A.capitalbudgetingdecision.
B.CFOdecision.
C.financingdecision.
D.investmentdecision.
Accessibility:
KeyboardNavigation
Difficulty:
Basic
20.Thechoiceofthepropermixtureofdebtandequity,usedtofinanceacorporatio