Week 9 – Chapters 11, 12, 13, and 14 Quiz

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  • Question 1

    2 out of 2 points

    The actual disbursement of cash is recorded in which of the following financial statements?

    Answers:

    income statement

    balance sheet

    statement of cash flows

    treasurer’s report

  • Question 2

    2 out of 2 points

    A statement that expresses the income statement items as a percent of total sales is called:

    Answers:

    a percentage of sales income statement

    a cross-sectional income statement

    a common size income statement

    a ratio based income statement

  • Question 3

    2 out of 2 points

    In an efficient market:

    Answers:

    it is fairly easy to find stocks whose prices do not fairly reflect the present value of future expected cash flows

    expected news will cause a rapid change in prices

    information flows are random, both in timing and in content

    all the above

  • Question 4

    0 out of 2 points

    The 2002 Sarbanes-Oxley Act and actions by the stock exchanges:

    Answers:

    limit the compensation that could be paid to CEOs.

    increase the number of independent directors on corporate Boards.

    provide uniform international accounting standards

    none of the above

  • Question 5

    2 out of 2 points

    If a firm has sales of $100, total expenses (including interest and taxes) of $50, has a stock that is selling at $50 per share and has 10 shares of stock outstanding, then the firm has a P/E ratio of:

    Answers:

    2.00

    1.00

    10.0

    0.20

  • Question 6

    2 out of 2 points

    Ningbo Steel had year end 2011 and 2012 retained earnings balances of $5,000,000 and $6,000,000 respectively. The firm paid $100,000 of dividends in 2012. Based on this information, Ningbo Steel’s net profit after taxes in 2012 was:

    Answers:

    $100,000

    $900,000

    $1,000,000

    $1,100,000

  • Question 7

    2 out of 2 points

    A firm has fixed operating costs of $10,000, the sale price per unit of its product is $25, and its variable cost per unit is $15. The firm’s operating breakeven point in units is

    Answers:

    250

    400

    667

    1,000

  • Question 8

    2 out of 2 points

    As part of the measurement of financial leverage, the total debt ratio is calculated as:

    Answers:

    total liabilities divided by total assets

    total liabilities times total assets

    current liabilities divided by total assets

    total assets minus current liabilities divided by total liabilities divided by total liabilities

  • Question 9

    2 out of 2 points

    If a firm’s sales are $2,000,000, its cost of goods sold is $1,500,000, and its total assets are $1,000,000, what is total asset turnover?

    Answers:

    2.0 times

    1.5 times

    0.5 times

    .67 times

  • Question 10

    2 out of 2 points

    A market has ________ if it can absorb large orders without disrupting prices; it has ___________ if it has many trades.

    Answers:

    depth, breadth

    breadth, depth

    liquidity, quick execution

    quick execution, liquidity

  • Question 11

    2 out of 2 points

    A market is liquid if

    Answers:

    trades are executed quickly.

    market prices don’t fluctuate sharply on successive trades

    both a) and b) are correct.

    if fees are low.

  • Question 12

    2 out of 2 points

    Which of the following is not required to compute the expected return of a three-asset portfolio?

    Answers:

    the amount invested in each stock

    the correlation between the returns on each stock

    the expected return on each stock

    all of the above are required

  • Question 13

    0 out of 2 points

    _____________ costs are a function of quantity sold, not time.

    Answers:

    fixed

    depreciation

    operating

    variable

  • Question 14

    2 out of 2 points

    (Cash + Marketable securities + Accounts receivable) ∕ Current liabilities

    Answers:

    Current ratio

    Quick ratio

    Average payment period

    Fast ratio

  • Question 15

    2 out of 2 points

    The maximum buying price or the minimum selling price specified by the investor is called a:

    Answers:

    stop-loss order

    market order

    short sale

    limit order

  • Question 16

    2 out of 2 points

    All of the following accounts are considered to be current assets on the balance sheet except:

    Answers:

    cash

    accruals

    accounts receivable

    inventory

  • Question 17

    2 out of 2 points

    Responsible for the controller and the treasury functions of a firm.

    Answers:

    Chief financial officer

    Treasurer

    Principle

    Controller

  • Question 18

    2 out of 2 points

    Which of the following would not be considered in the fixed charge coverage ratio?

    Answers:

    sinking fund payments

    dividend payments

    lease payments Rent payments

    rent payments

  • Question 19

    0 out of 2 points

    Using the DuPont system of analysis and holding other factors constant, decrease in total asset turnover will result in ________ in the return on equity.

    Answers:

    an increase

    a decrease

    no change

    an undetermined change

  • Question 20

    2 out of 2 points

    Which of the following would not be included on the balance sheet?

    Answers:

    dividends paid

    retained earnings

    capital paid in excess of par

    common stock

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