contemporaryfinancialmanagement10th现代财务管理英文版全套习题

contemporaryfinancialmanagement10th现代财务管理英文版全套习题内容摘要：

al goals pursued by management. The primary reason for this is __________. a. geographical dispersion of shareholders b. separation of ownership and control c. age differences between managers and shareholders d. that both have their own agendas ANS: B OBJ: TYPE: Fact TOP: Divergent objectives 36. The existence of divergent objectives between owners and managers is one example of a class of problems arising from __________. a. social responsibility concerns b. age differences between managers and owners c. agency relationships d. unionmanagement relations ANS: C OBJ: TYPE: Fact TOP: Agency problems 37. The activities of the treasurer include all of the following except: a. financial planning b. tax preparation c. credit analysis d. pension fund management ANS: B OBJ: TYPE: Fact TOP: Organization of the financial management function 38. The most important managerial objective is to: a. make MC=MR b. maximize profits c. minimize agency costs d. none of the above ANS: D OBJ: TYPE: Fact TOP: A foundation concept 39. _______ are important because the financial health of a firm depends on the firm being able to generate sufficient cash to pay its creditors, employees, suppliers, and owners. a. cash sales b. cash flows c. cash profits d. profits ANS: B OBJ: TYPE: Fact TOP: A foundation concept 40. One method of decreasing the cash outflows of a firm is to a. decrease depreciation b. increase capital expenditures c. decrease dividends d. increase debt repayment ANS: C OBJ: TYPE: Fact TOP: Cash flow 41. If a firm shows an accounting ine, then a. it will not have a cash flow problem b. it will not have a problem obtaining a bank loan c. it will be able to repay all current liabilities on time d. none of the above ANS: D OBJ: TYPE: Fact TOP: Cash flow 42. Cash flow concepts are _____ but generally accepted accounting principles are ______ in the determination of a firm39。 s ine. a. unambiguous, ambiguous b. ambiguous, unambiguous c. ambiguous, also ambiguous d. unambiguous, straightforward ANS: A OBJ: TYPE: Fact TOP: Importance of cash flow 43. Accountingbased measures of performance include all the following except a. return on equity b. cash flow c. return on assets d. market share ANS: B OBJ: TYPE: Fact TOP: Cash flows and shareholder wealth 44. Accountingbased measures of performance _____ subject to shortterm manipulation by managers。 cash flows ______ subject to shortterm manipulation. a. are, are not b. are not, are c. are, are also d. are not, also are not ANS: A OBJ: TYPE: Fact TOP: Cash flows and shareholder wealth 45. The present value rule provides appropriate guidance for financial decision makers when costs are incurred immediately but a. future cash flows are not known with certainty b. marginal costs are equal to marginal revenue c. result in a stream of benefits over several future time periods d. marginal costs are greater then marginal revenue ANS: C OBJ: TYPE: Fact TOP: Net present value rule 46. Corporate officers normally include all the following except: a. Secretary b. Chief operating officer c. Treasurer d. Financial analyst ANS: D OBJ: TYPE: Fact TOP: Corporate anization 47. The difference between a firm39。 s annual aftertax operating profit and its total annual cost of capital is known as: a. earned ine b. Economic Value Added c. Managerial Value Added d. operating ine ANS: B OBJ: TYPE: Fact TOP: Divergent objectives 48. ____ equals the number of shares outstanding times the market price per share. a. Book value b. Stakeholders wealth c. Total shareholder wealth d. Economic value ANS: C OBJ: TYPE: Fact TOP: A Foundation Concept 49. Which of the following panies requires that its top officers own mon stock in the pany that is at least equal to their annual salary. a. Ford Motor Company b. Tucson Electric Power Company c. Panhandle Eastern d. AnheuserBusch ANS: A OBJ: TYPE: Fact TOP: Divergent Objectives 50. The present value of an investment made by a firm represents the contribution of that investment to the ____ of the firm. a. book value b. profit c. value d. cash flow ANS: C OBJ: TYPE: Fact TOP: Net present value rule 51. A major advantage of the corporate form of business over both sole proprietorships and partnerships is the a. limited liability b. reduction in taxes c. ease of formation d. ability to maintain ownership ANS: A OBJ: TYPE: Fact TOP: Corporation 52. Which of the following is not an advantage that the corporate form of business has over either the sole proprietorship or partnership? a. ability to raise capital b. ease of changing ownership c. limited liability d. elimination of double taxes ANS: D OBJ: TYPE: Fact TOP: Corporation 53. A major disadvantage of a sole proprietorship is the fact that a. it is expensive to establish b. the owner has unlimited personal liability c. it is easy to finance growth d. the owner pays taxes on all the ine ANS: B OBJ: TYPE: Fact TOP: Sole proprietorship 54. In a limited partnership, the limited partners may limit their: a. tax liability b. liability c. tax writeoff d. ability to attract new products ANS: B OBJ: TYPE: Fact TOP: Partnership 55. Corporate securities represent claims against the a. corporate officers of the firm b. agents of the corporation c. liabilities and worth of the firm d. assets and future earnings of the firm ANS: D OBJ: TYPE: Fact TOP: Corporate securities 56. _________ is (are) referred to as a residual form of ownership in a corporation. a. Common stock b. Preferred stock c. Bonds d. Dividends。