31191027209 - Lê Thị Khánh Linh 

Nhà của tôi  Các khoá học của tôi  Khoa Tài chính  Nguyễn Ngọc Định  TCDN-KI1-K45CQ  5/11 - LMS lần 2  Bài kiểm
tra LMS - Lần 2

Bắt đầu vào lúc Thứ bảy, 14 Tháng mười một 2020, 10:50 AM
Trạng thái Đã xong
Kết thúc lúc Thứ bảy, 14 Tháng mười một 2020, 10:56 AM
Thời gian thực hiện 5 phút 24 giây
Điểm 20,00/20,00
Điểm 10,00 trên 10,00 (100%)

Câu Hỏi 1 Đúng Đạt điểm 1,00 trên 1,00

Sewer's Paradise is an all equity firm that has 5,000 shares of stock outstanding at a market price of $15 a
share. The firm's management has decided to issue $30,000 worth of debt and use the funds to repurchase
shares of the outstanding stock. The interest rate on the debt will be 10 percent. What are the earnings per
share at the break-even level of earnings before interest and taxes? Ignore taxes.

Select one:
a. $1.88

b. $1.50

c. $1.67

d. $1.46

e. $1.94

Câu trả lời của bạn đúng

The correct answer is: $1.50
Câu Hỏi 2 Đúng Đạt điểm 1,00 trên 1,00

Which of the following should be included in the analysis of a new product?

I. money already spent for research and development of the new product
II. reduction in sales for a current product once the new product is introduced
III. increase in accounts receivable needed to finance sales of the new product
IV. market value of a machine owned by the firm which will be used to produce the new product

Select one:
a. II, III, and IV only

b. I, II, III, and IV

c. I and III only

d. I, II, and III only

e. II and IV only

Câu trả lời của bạn đúng

The correct answer is: II, III, and IV only
Câu Hỏi 3 Đúng Đạt điểm 1,00 trên 1,00

Naylor's is an all equity firm with 60,000 shares of stock outstanding at a market price of $50 a share. The
company has earnings before interest and taxes of $87,000. Naylor's has decided to issue $750,000 of debt
at 7.5 percent. The debt will be used to repurchase shares of the outstanding stock. Currently, you own 500
shares of Naylor's stock. How many shares of Naylor's stock will you continue to own if you unlever this
position? Assume you can loan out funds at 7.5 percent interest. Ignore taxes.

Select one:
a. 500 shares

b. 425 shares

c. 300 shares

d. 350 shares

e. 375 shares

Câu trả lời của bạn đúng

The correct answer is: 375 shares
Câu Hỏi 4 Đúng Đạt điểm 1,00 trên 1,00

Bruce & Co. expects its EBIT to be $100,000 every year forever. The firm can borrow at 11 percent. Bruce
currently has no debt, and its cost of equity is 18 percent. The tax rate is 31 percent. Bruce will borrow
$61,000 and use the proceeds to repurchase shares. What will the WACC be after recapitalization?

Select one:
a. 16.30 percent

b. 18.86 percent

c. 18.29 percent

d. 17.15 percent

e. 16.87 percent

Câu trả lời của bạn đúng

The correct answer is: 17.15 percent

Câu Hỏi 5 Đúng Đạt điểm 1,00 trên 1,00

You have computed the break-even point between a levered and an unlevered capital structure. Assume
there are no taxes. At the break-even level, the:

Select one:
a. advantages of leverage exceed the disadvantages of leverage.

b. earnings per share for the levered option are exactly double those of the unlevered option.

c. firm is just earning enough to pay for the cost of the debt.

d. firm's earnings before interest and taxes are equal to zero.

e. firm has a debt-equity ratio of .50.

Câu trả lời của bạn đúng

The correct answer is: firm is just earning enough to pay for the cost of the debt.
Câu Hỏi 6 Đúng Đạt điểm 1,00 trên 1,00

Down Bedding has an unlevered cost of capital of 13 percent, a cost of debt of 7.8 percent, and a tax rate of
32 percent. What is the target debt-equity ratio if the targeted cost of equity is 15.51 percent?

Select one:
a. .84

b. .71

c. .68

d. .76

e. .63

Câu trả lời của bạn đúng

The correct answer is: .71

Câu Hỏi 7 Đúng Đạt điểm 1,00 trên 1,00

Georga's Restaurants has 4,500 bonds outstanding with a face value of $1,000 each and a coupon rate of
8.25 percent. The interest is paid semi-annually. What is the amount of the annual interest tax shield if the
tax rate is 37 percent?

Select one:
a. $137,362.50

b. $162,411.90

c. $187,750.00

d. $233,887.50

e. $210,420.00

Câu trả lời của bạn đúng

The correct answer is: $137,362.50
Câu Hỏi 8 Đúng Đạt điểm 1,00 trên 1,00

Which one of the following will increase net working capital? Assume the current ratio is greater than 1.0.

Select one:
a. selling inventory at cost

b. selling inventory at a profit on credit

c. paying off a long-term debt

d. paying a supplier for a previous purchase

e. purchasing inventory on credit

Câu trả lời của bạn đúng

The correct answer is: selling inventory at a profit on credit

Câu Hỏi 9 Đúng Đạt điểm 1,00 trên 1,00

Which of the following will increase the operating cycle?

I. increasing the inventory turnover rate
II. increasing the payables period
III. decreasing the receivable turnover rate
IV. decreasing the inventory level

Select one:
a. II and III only

b. I and IV only

c. I only

d. II and IV only

e. III only

Câu trả lời của bạn đúng

The correct answer is: III only
Câu Hỏi 10 Đúng Đạt điểm 1,00 trên 1,00

Which one of the following is indicative of a short-term restrictive financial policy?

Select one:
a. purchasing inventory on an as-needed basis

b. keeping inventory levels high

c. granting credit to all customers

d. investing heavily in marketable securities

e. maintaining a large accounts receivable balance

Câu trả lời của bạn đúng

The correct answer is: purchasing inventory on an as-needed basis
Câu Hỏi 11 Đúng Đạt điểm 1,00 trên 1,00

The Lumber Mart recently replaced its management team. As a result, the firm is implementing a restrictive
short-term policy in place of the flexible policy under which the firm had been operating. Which of the
following should the employees expect as a result of this policy change?
I. reduction in sales due to stock outs
II. greater inventory selection
III. decreased sales due to the new accounts receivable credit policy
IV. decreased investment in marketable securities

Select one:
a. I and II only

b. I, II, and IV only

c. I, III, and IV only

d. I, II, III, and IV

e. II and IV only

Câu trả lời của bạn đúng

The correct answer is: I, III, and IV only
Câu Hỏi 12 Đúng Đạt điểm 1,00 trên 1,00

North Side Wholesalers has sales of $948,000. The cost of goods sold is equal to 72 percent of sales. The
firm has an average inventory of $23,000. How many days on average does it take the firm to sell its
inventory?

Select one:
a. 16.48 days

b. 29.68 days

c. 26.35 days

d. 12.30 days

e. 11.24 days

Câu trả lời của bạn đúng

The correct answer is: 12.30 days
Câu Hỏi 13 Đúng Đạt điểm 1,00 trên 1,00

Gateway Communications is considering a project with an initial fixed asset cost of $2.46 million which will
be depreciated straight-line to a zero book value over the 10-year life of the project. At the end of the
project the equipment will be sold for an estimated $300,000. The project will not directly produce any sales
but will reduce operating costs by $725,000 a year. The tax rate is 35 percent. The project will require
$45,000 of inventory which will be recouped when the project ends. Should this project be implemented if
the firm requires a 14 percent rate of return? Why or why not?

Select one:
a. Yes; The NPV is $387,516.67

b. Yes; The NPV is $251,860.34

c. No; The NPV is -$172,937.49.

d. No; The NPV is -$87,820.48.

e. Yes; The NPV is $466,940.57

Câu trả lời của bạn đúng

The correct answer is: Yes; The NPV is $466,940.57
Câu Hỏi 14 Đúng Đạt điểm 1,00 trên 1,00

As of the beginning of the quarter, Swenson's, Inc. had a cash balance of $460. During the quarter, the
company collected $520 from customers and paid suppliers $360. The company also paid an interest
payment of $20 and a tax payment of $110. In addition, the company repaid $140 on its long-term debt.
What is Callahan's cash balance at the end of the quarter?

Select one:
a. $490

b. $430

c. $350

d. $320

e. -$110

Câu trả lời của bạn đúng

The correct answer is: $350
Câu Hỏi 15 Đúng Đạt điểm 1,00 trên 1,00

Danielle's is a furniture store that is considering adding appliances to its offerings. Which of the following
should be considered incremental cash flows of this project?
I. utilizing the credit offered by a supplier to purchase the appliance inventory
II. benefiting from increased furniture sales to appliance customers
III. borrowing money from a bank to fund the appliance project
IV. purchasing parts for inventory to handle any appliance repairs that might be necessary

Select one:
a. I, II, and IV only

b. II, III, and IV only

c. III and IV only

d. I and II only

e. I, II, III, and IV

Câu trả lời của bạn đúng

The correct answer is: I, II, and IV only
Câu Hỏi 16 Đúng Đạt điểm 1,00 trên 1,00

All of the following are related to a proposed project. Which of these should be included in the cash flow at
time zero?
I. purchase of $1,400 of parts inventory needed to support the project
II. loan of $125,000 used to finance the project
III. depreciation tax shield of $1,100
IV. $6,500 of equipment needed to commence the project

Select one:
a. I, II, III, and IV

b. II and IV only

c. I and IV only

d. I and II only

e. I, II, and IV only

Câu trả lời của bạn đúng

The correct answer is: I and IV only
Câu Hỏi 17 Đúng Đạt điểm 1,00 trên 1,00

Kelly's Corner Bakery purchased a lot in Oil City 6 years ago at a cost of $280,000. Today, that lot has a
market value of $340,000. At the time of the purchase, the company spent $15,000 to level the lot and
another $20,000 to install storm drains. The company now wants to build a new facility on that site. The
building cost is estimated at $1.47 million. What amount should be used as the initial cash flow for this
project?

Select one:
a. -$1,825,000

b. -$1,845,000

c. -$1,860,000

d. -$1,470,000

e. -$1,810,000

Câu trả lời của bạn đúng

The correct answer is: -$1,810,000
Câu Hỏi 18 Đúng Đạt điểm 1,00 trên 1,00

Jefferson & Sons is evaluating a project that will increase annual sales by $138,000 and annual costs by
$94,000. The project will initially require $110,000 in fixed assets that will be depreciated straight-line to a
zero book value over the 4-year life of the project. The applicable tax rate is 32 percent. What is the
operating cash flow for this project?

Select one:
a. $46,480

b. $11,220

c. $38,720

d. $29,920

e. $46,620

Câu trả lời của bạn đúng

The correct answer is: $38,720
Câu Hỏi 19 Đúng Đạt điểm 1,00 trên 1,00

Bruno's Lunch Counter is expanding and expects operating cash flows of $26,000 a year for 4 years as a
result. This expansion requires $39,000 in new fixed assets. These assets will be worthless at the end of the
project. In addition, the project requires $3,000 of net working capital throughout the life of the project.
What is the net present value of this expansion project at a required rate of return of 16 percent?

Select one:
a. $18,477.29

b. $29,416.08

c. $28,288.70

d. $32,409.57

e. $21,033.33

Câu trả lời của bạn đúng

The correct answer is: $32,409.57

Câu Hỏi 20 Đúng Đạt điểm 1,00 trên 1,00

Homemade leverage is:

Select one:
a. the borrowing or lending of money by individual shareholders as a means of adjusting their level of
financial leverage.

b. the incurrence of debt by a corporation in order to pay dividends to shareholders.

c. best defined as an increase in a firm's debt-equity ratio.

d. the exclusive use of debt to fund a corporate expansion project.

e. the term used to describe the capital structure of a levered firm.

Câu trả lời của bạn đúng

The correct answer is: the borrowing or lending of money by individual shareholders as a means of adjusting their
level of financial leverage.
 ◄ Chương 26 - Tài trợ và kế hoạch tài chính ngắn hạn

Chuyển tới...

Chương 28 - Quản trị tín dụng thương mại và hàng tồn kho ►

Bạn đang đăng nhập với tên 31191027209 - Lê Thị Khánh Linh (Thoát)