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BUSN379 Fundamentals of Corporate Finance: HWES1 (8 items – w/ supporting solutions )

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BUSN379 Corporate Finance

HWES1

1. (TCO 1) Which of the following statements is true regarding the goal of financial management? (Points: 3)

AUScompany considering international operations will have a different goal than a company that only conducts operations in theUS.

The firm’s structure (i.e. corporation, sole proprietorship, partnership) is not relevant to the goal of financial management.

A way of aligning management goals to shareholder’s interest is to tie managerial compensation to the market value of the firm’s stock.

None of the above are true.

 

2. (TCO 1) Market values reflect which of the following: (Points: 3)

The amount someone is willing to pay today for an asset.

The value of the asset based on generally-accepted accounting principles.

The asset’s historical cost.

A and B only

 

3. For this question, use the information for Sports Baseballs, Inc. Sports Baseballs, Inc. is a corporation that manufacturers and sells baseballs across several states in the Southeast. It had sales of $2.7 million during the last year. Expenses were as follows:

Cost of goods sold………………………….          $1.2 million

Administrative expenses……………………          $250,000

Marketing and selling expenses……………          $175,000

Depreciation………………………………….          $500,000

Interest expense…………………………….          $200,000

Dividends paid……………………………….           $150,000

(TCO 1) Suppose that Sports Baseball has 30,000 shares of stock. Assume a tax rate of 30%. What is the EPS figure?   (Points: 3)

8.50

8.75

9.0

9.15

 

4. For this question, use the information for Sports Baseballs, Inc. Sports Baseballs, Inc. is a corporation that manufacturers and sells baseballs across several states in the Southeast. It had sales of $2.7 million during the last year. Expenses were as follows:

Cost of goods sold………………………….          $1.2 million

Administrative expenses……………………          $250,000

Marketing and selling expenses……………          $175,000

Depreciation………………………………….          $500,000

Interest expense…………………………….          $200,000

Dividends paid……………………………….           $150,000

(TCO 1) Assuming a tax rate of 30%, what is the operating cash flow for the year?  (Points: 3)

$1,260,000

$962,000

$962,500

$1,265,000

Can not be determined with the information given

 

5. For this question, use the information for Sports Baseballs, Inc. Sports Baseballs, Inc. is a corporation that manufacturers and sells baseballs across several states in the Southeast. It had sales of $2.7 million during the last year. Expenses were as follows:

Cost of goods sold………………………….          $1.2 million

Administrative expenses……………………          $250,000

Marketing and selling expenses……………          $175,000

Depreciation………………………………….          $500,000

Interest expense…………………………….          $200,000

Dividends paid……………………………….           $150,000

(TCO 1) Select all items that will be included in Sports Baseballs, Inc. Balance Sheet. For this exercise you will be choosing more than one option for your answer: (Points: 3)

Cash on hand

Fixed assets

Net sales

Administrative expenses

Taxes

Long-term debt

Dividends paid

Marketing expenses

Consulting revenues

 

6. (TCO 1) Which one of the following activities best exemplify capital structure decisions. For this exercise you will be choosing more than one option for your answer: (Points: 6)

Determine the most adequate mixture of debt and equity to be maintained.

Obtain a short-term loan to purchase materials.

Identify two capital investment projects.

Determine the cost of each source of capital.

Determine the return of a potential project.

Calculate the cash flows for a project.

Assess the terms of loans and evaluate potential long-term financing options.

 

7. (TCO 1) Match the following terms with the examples as appropriate: (Points: 4)

Matching:

: Social responsibility

: Sarbanes-Oxley Act

: Agency cost

: Insider trading

: Managerial compensation

 

Potential Matches:

1: McDonald’s work to redesign packaging items with recyclable materials.

2: Protection against financial malpractices and accounting fraud.

3: incentive to encourage managers to increase share value.

4: the decision of a manager to forgo a risky investment because it may pose a risk to his/her job.

5: Steward’s sale of ImClone stock as result of information provided by the company’s CEO before an announcement was made public that significantly decrease ImClone’s stock price.

 

8. (TCO 1) Can you provide some examples of situations in which business ethics play a role in the financial management process? (Points: 5)

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