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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