(完整word版)公司金融英文试题.pdf
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1、Corporate Finance Midterm 1,Spring 2013 Name:ID:1.Multiple Choices(3 points20=60 points):1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 1.Which of the following is not considered one of the basic questions of corporate finance?A)What long-lived assets should the firm invest?B)How much inventory
2、should the firm hold?C)How can the firm raise cash for required capital expenditures?D)How should the short-term operating cash flows be managed?E)All of the above.Answer:B Difficulty:Medium Page:4 2.Generally accepted accounting principles may recognize and record a sale A)before a customer pays as
3、suming they will pay soon.B)only after the company receives payment in full.C)when the company receives at least 50%of the total revenue from the customer.D)All of the above.E)None of the above.Answer:A Difficulty:Medium Page:7 3.The _ tax rate is equal to total taxes divided by total taxable income
4、.A.deductible B.residual C.total D.average E.marginal D 4.Which one of the following will increase the value of a firms net working capital?A.using cash to pay a supplier 精品资料-欢迎下载-欢迎下载 名师归纳-第 1 页,共 9 页 -B.depreciating an asset C.collecting an accounts receivable D.purchasing inventory on credit E.s
5、elling inventory at a profit E 5.The higher the degree of financial leverage employed by a firm,the:A.higher the probability that the firm will encounter financial distress.B.lower the amount of debt incurred.C.less debt a firm has per dollar of total assets.D.higher the number of outstanding shares
6、 of stock.E.lower the balance in accounts payable.A 6.Depreciation:A.reduces both taxes and net income.B.increases the net fixed assets as shown on the balance sheet.C.reduces both the net fixed assets and the costs of a firm.D.is a noncash expense which increases the net income.E.decreases net fixe
7、d assets,net income,and operating cash flows.A 7.Which one of the following must be true if a firm had a negative cash flow from assets?A.The firm borrowed money.B.The firm acquired new fixed assets.C.The firm had a net loss for the period.D.The firm utilized outside funding.E.Newly issued shares of
8、 stock were sold.D 8.A firm has net working capital of$640.Long-term debt is$4,180,total assets are$6,230,and fixed assets are$3,910.What is the amount of the total liabilities?A.$2,050 B.$2,690 C.$4,130 D.$5,590 E.$5,860 Current assets=$6,230-$3,910=$2,320 Current liabilities=$2,320-$640=$1,680 Tot
9、al liabilities=$1,680+$4,180=$5,860 精品资料-欢迎下载-欢迎下载 名师归纳-第 2 页,共 9 页 -文档编码:CO2A7K1T3N2 HE10G1H3S5M6 ZR1I2O2X3P6文档编码:CO2A7K1T3N2 HE10G1H3S5M6 ZR1I2O2X3P6文档编码:CO2A7K1T3N2 HE10G1H3S5M6 ZR1I2O2X3P6文档编码:CO2A7K1T3N2 HE10G1H3S5M6 ZR1I2O2X3P6文档编码:CO2A7K1T3N2 HE10G1H3S5M6 ZR1I2O2X3P6文档编码:CO2A7K1T3N2 HE10G1H3S
10、5M6 ZR1I2O2X3P6文档编码:CO2A7K1T3N2 HE10G1H3S5M6 ZR1I2O2X3P6文档编码:CO2A7K1T3N2 HE10G1H3S5M6 ZR1I2O2X3P6文档编码:CO2A7K1T3N2 HE10G1H3S5M6 ZR1I2O2X3P6文档编码:CO2A7K1T3N2 HE10G1H3S5M6 ZR1I2O2X3P6文档编码:CO2A7K1T3N2 HE10G1H3S5M6 ZR1I2O2X3P6文档编码:CO2A7K1T3N2 HE10G1H3S5M6 ZR1I2O2X3P6文档编码:CO2A7K1T3N2 HE10G1H3S5M6 ZR1I2O2X3
11、P6文档编码:CO2A7K1T3N2 HE10G1H3S5M6 ZR1I2O2X3P6文档编码:CO2A7K1T3N2 HE10G1H3S5M6 ZR1I2O2X3P6文档编码:CO2A7K1T3N2 HE10G1H3S5M6 ZR1I2O2X3P6文档编码:CO2A7K1T3N2 HE10G1H3S5M6 ZR1I2O2X3P6文档编码:CO2A7K1T3N2 HE10G1H3S5M6 ZR1I2O2X3P6文档编码:CO2A7K1T3N2 HE10G1H3S5M6 ZR1I2O2X3P6文档编码:CO2A7K1T3N2 HE10G1H3S5M6 ZR1I2O2X3P6文档编码:CO2A7K
12、1T3N2 HE10G1H3S5M6 ZR1I2O2X3P6文档编码:CO2A7K1T3N2 HE10G1H3S5M6 ZR1I2O2X3P6文档编码:CO2A7K1T3N2 HE10G1H3S5M6 ZR1I2O2X3P6文档编码:CO2A7K1T3N2 HE10G1H3S5M6 ZR1I2O2X3P6文档编码:CO2A7K1T3N2 HE10G1H3S5M6 ZR1I2O2X3P6文档编码:CO2A7K1T3N2 HE10G1H3S5M6 ZR1I2O2X3P6文档编码:CO2A7K1T3N2 HE10G1H3S5M6 ZR1I2O2X3P6文档编码:CO2A7K1T3N2 HE10G1H
13、3S5M6 ZR1I2O2X3P6文档编码:CO2A7K1T3N2 HE10G1H3S5M6 ZR1I2O2X3P6文档编码:CO2A7K1T3N2 HE10G1H3S5M6 ZR1I2O2X3P6文档编码:CO2A7K1T3N2 HE10G1H3S5M6 ZR1I2O2X3P6文档编码:CO2A7K1T3N2 HE10G1H3S5M6 ZR1I2O2X3P6文档编码:CO2A7K1T3N2 HE10G1H3S5M6 ZR1I2O2X3P6文档编码:CO2A7K1T3N2 HE10G1H3S5M6 ZR1I2O2X3P6文档编码:CO2A7K1T3N2 HE10G1H3S5M6 ZR1I2O2
14、X3P6文档编码:CO2A7K1T3N2 HE10G1H3S5M6 ZR1I2O2X3P6文档编码:CO2A7K1T3N2 HE10G1H3S5M6 ZR1I2O2X3P6文档编码:CO2A7K1T3N2 HE10G1H3S5M6 ZR1I2O2X3P6文档编码:CO2A7K1T3N2 HE10G1H3S5M6 ZR1I2O2X3P6文档编码:CO2A7K1T3N2 HE10G1H3S5M6 ZR1I2O2X3P6文档编码:CO2A7K1T3N2 HE10G1H3S5M6 ZR1I2O2X3P6文档编码:CO2A7K1T3N2 HE10G1H3S5M6 ZR1I2O2X3P6文档编码:CO2A
15、7K1T3N2 HE10G1H3S5M6 ZR1I2O2X3P6文档编码:CO2A7K1T3N2 HE10G1H3S5M6 ZR1I2O2X3P6文档编码:CO2A7K1T3N2 HE10G1H3S5M6 ZR1I2O2X3P6文档编码:CO2A7K1T3N2 HE10G1H3S5M6 ZR1I2O2X3P6文档编码:CO2A7K1T3N2 HE10G1H3S5M6 ZR1I2O2X3P6文档编码:CO2A7K1T3N2 HE10G1H3S5M6 ZR1I2O2X3P6E 9.Bonner Collision has shareholders equity of$141,800.The fir
16、m owes a total of$126,000 of which 60 percent is payable within the next year.The firm net fixed assets of$161,900.What is the amount of the net working capital?A.$25,300 B.$30,300 C.$75,600 D.$86,300 E.$111,500 Current liabilities=.60$126,000=$75,600 Total assets=$141,800+$126,000=$267,800 Current
17、assets=$267,800-$161,900=$105,900 Net working capital=$105,900-$75,600=$30,300 B 10.Kaylor Equipment Rental paid$75 in dividends and$511 in interest expense.The addition to retained earnings is$418 and net new equity is$500.The tax rate is 35 percent.Sales are$15,900 and depreciation is$680.What are
18、 the earnings before interest and taxes?A.$589.46 B.$1,269.46 C.$1,331.54 D.$1,951.54 E.$1,949.46 Net income=$75+$418=$493 Taxable income=$493/(1-.35)=$758.46 Earnings before interest and taxes=$758.46+$511=$1,269.46 B 11.Given the tax rates as shown,what is the average tax rate for a firm with taxa
19、ble income of$311,360?A.28.25 percent B.31.09 percent C.33.62 percent D.35.48 percent E.39.00 percent Tax=.15($50,000)+.25($25,000)+.34($25,000)+.39($211,360)=$104,680.40 Average tax rate=$104,680.40/$311,360=33.62 percent 精品资料-欢迎下载-欢迎下载 名师归纳-第 3 页,共 9 页 -文档编码:CO2A7K1T3N2 HE10G1H3S5M6 ZR1I2O2X3P6文档编
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