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Question 19 The value of a firm and shareholder wealth are maximized under which of the fo

llowing conditions？ Capital projects are accepted at any point along a firm’s investment opportunity schedule that is:

A.below the firm’s marginal cost of capital curve.

B.above the firm’s average cost of capital curve.

C.above the firm’s marginal cost of capital curve.

D.below the firm’s average cost of capital curve.

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更多“Question 19 The value of a fir…”相关的问题

第1题

Question 18 Which of the following categories of capital budgeting projects requires the least amount of detailed analysis?

A.Replacement projects that will lead to cost reductions.

B.Projects that involve a new product or a new market.

C.Replacement projects that maintain the existing business.

D.Expansion projects.

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第2题

Question 17 Which component cost of capital in a firm’s weighted average cost of capital (WACC) is most likely to be affected by taxes? The cost of:’ C# J* k$ s3 g0 a

A.common equity.

B.retained earnings.

C.debt.

D.preferred equity.

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第3题

Question 15 Dalrymple, Inc. has operations in a country that taxes ordinary net income at

a rate of 40%, has gains on the sale of long-term assets at 20%, and exempts interest income from any taxation. Dalrymple’s net income before taxes is derived from the following sources: Net Income from Ordinary Activities $2,000,000 Net Income from Sale of Long-term Asset 1,000,000 Net Interest Income 1,000,000 Net Income before Taxes 4,000,000 On its income statement, Dalrymple should:

A.apply an effective tax rate of 25%.

B.show its income in different categories and apply the appropriate tax rate to each.

C.apply an effective tax rate of 40% and add $600,000 to its deferred tax liability account.

D.apply an effective tax rate of 40% and add $600,000 to its deferred tax asset account.

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第4题

Question 14 Jason Corp. has a permanently impaired asset that must be written down from it

s carrying value of $5,000,000 to its present value of future cash flows of $3,500,000. The asset’s salvage value is $1,000,000. Before considering the asset write-down, Jason Corp.’s financial data are as follows (in $): Sales 27,000,000 Cost of Goods Sold (15,000,000) Gross Profit 12,000,000 Depreciation Expense (5,000,000) Other Expenses (1,000,000) Operating Income (EBIT) 6,000,000 Interest Expense (1,000,000) Income Taxes Expense (2,000,000) Net Income 3,000,000 When Jason Corp. takes the write-down, its operating profit margin will be closest to: U4 Q/ h; g4 D/ O

A.18.5%.

B.22.2%.

C.16.7%.

D.14.2%.

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第5题

Question 13 Which of the following statements is correct regarding the financial statement

adjustments that an analyst must make regarding firms that choose different accounting methods but are subject to the same standards, and firms with different accounting methods due to differences in applicable accounting standards, respectively? Same accounting standards Different accounting standards

A.Adjustments required No adjustments required

B.Adjustments required Adjustments required

C.No adjustments required Adjustments required

D.No adjustments required No adjustments required

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第6题

Question 12 Can the stage in the life cycle of a firm’s industry and earnings manipulation

by management cause differences between the growth rate of a firm’s net income and the growth rate of its operating cash flow over annual reporting periods? Life cycle Earnings manipulation

A.Yes Yes

B.Yes No

C.No Yes

D.No No

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第7题

Question 11 Selected information from Mendota, Inc.’s financial statements for the year en

ded December 31 includes the following (in $): Sales 7,000,000 Cost of Goods Sold 5,000,000 LIFO Reserve on Jan. 1 600,000 LIFO Reserve on Dec. 31 850,000 Mendota uses the last in, first out (LIFO) inventory cost flow assumption. The tax rate is 40%. If Mendota changed from LIFO to first in, first out (FIFO), its gross profit margin would:

A.increase to 32.1%.

B.increase to 30.0%.

C.increase to 40.1%.

D.remain unchanged at 28.6%.

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第8题

Question 10 Compared to using the first in, first out (FIFO) inventory method, using last

in, first out (LIFO) in periods of rising prices and stable or increasing inventory quantities will result in taxes and operating cash flows (CFO) that are: Taxes CFO

A.lower higher

B.higher higher

C.lower lower

D.higher lower

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第9题

Question 9 Which of the following statements best describes the level of flexibility affor

ded in the cash flow statement classification of interest paid and dividends received (from investments) under U.S. GAAP as compared to IFRS? Interest paid Dividends received

A.More flexible than IFRS Less flexible than IFRS

B.Less flexible than IFRS More flexible than IFRS

C.Less flexible than IFRS Less flexible than IFRS

D.More flexible than IFRS More flexible than IFRS

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第10题

Question 8 Which of the following items is least likely to contain details about various accruals, adjustments, balances, and management assumptions?

A.Supplementary schedules.

B.Financial statement footnotes.

C.Income statement.

D.Discussion and analysis by management.

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