财务管理chapter1文档格式.docx
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ORGANIZATIONALSTRUCTUREb23.Whichoneofthefollowingstatementsiscorrectconcerningtheorganizationalstructureofacorporation
a.Thevicepresidentoffinancereportstothechairmanoftheboard.
b.Thechiefexecutiveofficerreportstotheboardofdirectors.
c.Thecontrollerreportstothepresident.
d.Thetreasurerreportstothechiefexecutiveofficer.
e.Thechiefoperationsofficerreportstothevicepresidentofproduction.
CAPITALBUDGETINGb24.Whichoneofthefollowingisacapitalbudgetingdecision
a.determininghowmuchdebtshouldbeborrowedfromaparticularlender
b.decidingwhetherornottoopenanewstore
c.decidingwhentorepayalong-termdebt
d.determininghowmuchinventorytokeeponhand
e.determininghowmuchmoneyshouldbekeptinthecheckingaccount
CAPITALBUDGETINGe25.Whenconsideringacapitalbudgetingprojectthefinancialmanagershouldconsider:
a.onlythesizeoftheproject.
b.onlythetimingoftheprojectcashflows.
c.onlytheriskoftheprojectcashflows.
d.onlythesizeandtimingoftheprojectcashflows.
e.thesize,timing,andriskoftheprojectcashflows.
CAPITALSTRUCTURE
a26.Capitalstructuredecisionsincludeconsiderationofthe:
I.amountoflong-termdebttoassume.
II.costofacquiringfunds.
III.currentassetsandliabilities.
IV.networkingcapital.
a.IandIIonly
c.IIIandIVonly
d.I,II,andIVonly
e.I,III,andIVonly
e27.Thedecisionofwhichlendertouseandwhichtypeoflong-termloanisbestforaprojectispartof:
a.workingcapitalmanagement.
b.thenetworkingcapitaldecision.
c.capitalbudgeting.
d.acontroller'
sduties.
e.thecapitalstructuredecision.
WORKINGCAPITALMANAGEMENT
e28.WorkingcapitalmanagementincludesdecisionsconcerningwhichofthefollowingI.accountspayable
II.long-termdebt
III.accountsreceivable
IV.inventory
b.IandIIIonly
c.IIandIVonly
d.I,II,andIIIonly
e29.Workingcapitalmanagement:
a.ensuresthatsufficientequipmentisavailabletoproducetheamountofproductdesired
onadailybasis.
b.ensuresthatlong-termdebtisacquiredatthelowestpossiblecost.
c.ensuresthatdividendsarepaidtoallstockholdersonanannualbasis.
d.balancestheamountofcompanydebttotheamountofavailableequity.
e.isconcernedwithhavingsufficientfundstooperatethebusinessonadailybasis.
SOLEPROPRIETORSHIP
d30.Whichoneofthefollowingstatementsconcerningasoleproprietorshipiscorrect
a.Asoleproprietorshipistheleastcommonformofbusinessownership.
b.Theprofitsofasoleproprietorshiparetaxedtwice.
c.Theownersofasoleproprietorshipshareprofitsasestablishedbythepartnershipagreement.
d.Theownerofasoleproprietorshipmaybeforcedtosellhis/herpersonalassetstopay
companydebts.
e.Asoleproprietorshipisoftenstructuredasalimitedliabilitycompany.
a31.Whichoneofthefollowingstatementsconcerningasoleproprietorshipiscorrect
a.Thelifeofthefirmislimitedtothelifespanoftheowner.
b.Theownercangenerallyraiselargesumsofcapitalquiteeasily.
c.Theownershipofthefirmiseasytotransfertoanotherindividual.
d.Thecompanymustpayseparatetaxesfromthosepaidbytheowner.
e.Thelegalcoststoformasoleproprietorshiparequitesubstantial.
PARTNERSHIP
e32.Whichoneofthefollowingbestdescribestheprimaryadvantageofbeingalimited
partnerratherthanageneralpartner
a.entitlementtoalargerportionofthepartnership'
sincome
b.abilitytomanagetheday-to-dayaffairsofthebusiness
c.nopotentialfinancialloss
d.greatermanagementresponsibility
e.liabilityforfirmdebtslimitedtothecapitalinvested
b33.Ageneralpartner:
a.haslesslegalliabilitythanalimitedpartner.
b.hasmoremanagementresponsibilitythanalimitedpartner.
c.facesdoubletaxationwhereasalimitedpartnerdoesnot.
d.cannotlosemorethantheamountofhis/herequityinvestment.
e.isthetermappliedonlytocorporationswhichinvestinpartnerships.
c34.Apartnership:
a.istaxedthesameasacorporation.
b.agreementdefineswhetherthebusinessincomewillbetaxedlikeapartnershiporacorporation.
c.terminatesatthedeathofanygeneralpartner.
d.haslessofanabilitytoraisecapitalthanaproprietorship.
e.allowsforeasytransferofinterestfromonegeneralpartnertoanother.
d35.
Whichofthefollowingaredisadvantagesofapartnership
I.
limitedlifeofthefirm
II.
personalliabilityforfirmdebt
III.
greaterabilitytoraisecapitalthanasoleproprietorship
IV.
lackofabilitytotransferpartnershipinterest
a.
IandIIonly
b.
IIIandIVonly
c.
IIandIIIonly
d.
I,II,andIVonly
e.
I,III,andIVonly
CORPORATION
e36.
Whichofthefollowingareadvantagesofthecorporateformofbusiness
ownership
limitedliabilityforfirmdebtdoubletaxation
abilitytoraisecapital
unlimitedfirmlife
I,II,andIIIonly
II,III,andIVonly
a
37.
Whichoneofthefollowingstatementsiscorrectconcerningcorporations
Thelargestfirmsareusuallycorporations.
Themajorityoffirmsarecorporations.
Thestockholdersareusuallythemanagersofacorporation.
Theabilityofacorporationtoraisecapitalisquitelimited.
Theincomeofacorporationistaxedaspersonalincomeofthestockholders
BUSINESSTYPES
b
38.
Whichoneofthefollowingstatementsiscorrect
Bothpartnershipsandcorporationsincurdoubletaxation.
Bothsoleproprietorshipsandpartnershipsaretaxedinasimilarfashion.
Partnershipsarethemostcomplicatedtypeofbusinesstoform.
Bothpartnershipsandcorporationshavebylaws.
Alltypesofbusinessformationshavelimitedlives.
ARTICLESOFINCORPORATION
c
39.
Thearticlesofincorporation:
canbeusedtoremovecompanymanagement.
b.areamendedannuallybythecompanystockholders.
c.setforththenumberofsharesofstockthatcanbeissued.
d.setforththerulesbywhichthecorporationregulatesitsexistence.
e.cansetforththeconditionsunderwhichthefirmcanavoiddoubletaxation.
BYLAWSd40.Thebylaws:
a.establishthenameofthecorporation.
b.areruleswhichapplyonlytolimitedliabilitycompanies.
c.setforththepurposeofthefirm.
d.mandatetheprocedureforelectingcorporatedirectors.
e.setforththeprocedurebywhichthestockholderselecttheseniormanagersofthefirm.
LIMITEDLIABILITYCOMPANY
c41.Theownersofalimitedliabilitycompanyprefer:
a.beingtaxedlikeacorporation.
b.havingliabilityexposuresimilartothatofasoleproprietor.
c.beingtaxedpersonallyonallbusinessincome.
d.havingliabilityexposuresimilartothatofageneralpartner.
e.beingtaxedlikeacorporationwithliabilitylikeapartnership.
c42.Whichoneofthefollowingbusinesstypesisbestsuitedtoraisinglargeamountsof
capital
a.soleproprietorship
b.limitedliabilitycompany
c.corporation
d.generalpartnership
e.limitedpartnership
d43.Whichtypeofbusinessorganizationhasalltherespectiverightsandprivilegesofalegalperson
b.generalpartnership
c.limitedpartnership
d.corporation
e.limitedliabilitycompany
GOALOFFINANCIALMANAGEMENT
c44.Financialmanagersshouldstrivetomaximizethecurrentvaluepershareoftheexistingstockbecause:
a.doingsoguaranteesthecompanywillgrowinsizeatthemaximumpossiblerate.
b.doingsoincreasesthesalariesofalltheemployees.
c.thecurrentstockholdersaretheownersofthecorporation.
d.doingsomeansthefirmisgrowinginsizefasterthanitscompetitors.
e.themanagersoftenreceivesharesofstockaspartoftheircompensation.
GOALOFFINANCIALMANAGEMENTd45.Thedecisionsmadebyfinancialmanagersshouldallbeoneswhichincreasethe:
a.sizeofthefirm.
b.growthrateofthefirm.
c.marketabilityofthemanagers.
d.marketvalueoftheexistingowners'
equity.
e.financialdistressofthefirm.
AGENCYPROBLEM
c46.Whichoneofthefollowingactionsbyafinancialmanagercreatesanagencyproblem
a.refusingtoborrowmoneywhendoingsowillcreatelossesforthefirm
b.refusingtolowersellingpricesifdoingsowillreducethenetprofits
value
agreeingtoexpandthecompanyattheexpenseofstockholders
d.agreeingtopaybonusesbasedonthemarketvalueofthecompanystock
e.increasingcurrentcostsinordertoincreasethemarketvalueofthestockholdersequity
e47.Whichofthefollowinghelpconvincemanagerstoworkinthebestinterestofthestockholders
I.compensationbasedonthevalueofthestock
II.stockoptionplans
III.threatofacompanytakeover
IV.threatofaproxyfight
b.IIIandIVonly
c.I
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