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StudyQuestions

Firmswithahighdegreeofoperatingleverageare
A.easilycapableofsurvivinglargechangesinsalesvolume
B.usuallytradingofflowerlevelsofriskforhigherprofits.
C.significantlyaffectedbychangesininterestrates.
D.tradingoffhigherfixedcostsforlowerperunitvariablecosts.

Cashflowconsistsofilliquidcashequivalentswhicharedifficulttoconverttocashwithin90days.
TrueorFalse

Theincomestatementmeasurestheincreaseintheassetsofafirmoveraperiodoftime.
TrueorFalse

Profitabilityratiosallowonetomeasuretheabilityofthefirmtoearnanadequatereturnonsales,total
assets,andinvestedcapital.
TrueorFalse

Whichofthefollowingisnotaconditionunderwhichaprudentmanagerwouldacceptsomeriskin
financing?
A.Predictablecashflowpatterns
B.Inventoryishighlyperishable
C.Priceofinventoryisstable
D.Easyaccesstocapitalmarkets

Asthedividendpayoutratiodeclinesmoreexternalfundsarerequired.
TrueorFalse

Agencytheorydealswiththeissueof
A.whentohireanagenttorepresentthefirminnegotiations.
B.thelegalliabilitiesofafirmifanemployee,actingasthefirm'sagent,injuressomeone.
C.thelimitationsplacedonanemployeeactingasthefirm'sagenttoobligateorbindthefirm.
D.theconflictsthatcanarisebetweentheviewpointsandmotivationsofafirm'sownersandmanagers.

Computerizedcashmanagementandelectronicfundstransferallowfirmstocarrysmallercash
balances.
TrueorFalse

Stretchingthepaymentperiodreferstothepracticeoftryingtotakeatradediscountafterthediscount
period.
TrueorFalse

Inthepercentofsalesmethod,anincreaseindividends
A.willincreaserequirednewfunds.
B.willdecreaserequirednewfunds.
C.hasnoeffectonrequirednewfunds.
D.moreinformationisneeded.

Thefollowingisthebalancesheetfor2003forMarbellInc.

Salesfor2002were$300,000.Salesfor2003havebeenprojectedtoincreaseby20%.Assumingthat
MarbellInc.isoperatingbelowcapacity,calculatetheamountofnewfundsrequiredtofinancethis
growth.Marbellhasan8%returnonsalesand70%ispaidoutasdividends.