A firm changes from Last I n First Out to First In First Out; this change will be found in the:
(a) The balance sheet.
(b) The income statement.
(c) The statement of cash flows.
(d) Notes to the financial statements.
Financial leverage impacts the performance of the firm by:
(a) Increasing the volatility of the firm’s earnings before interest & taxes.
(b) Decreasing the volatility of the firm’s earnings before interest & taxes.
(c) Decreasing the volatility of the firm’s net income.
(d) Increasing the volatility of the firm’s net income.
In the financial planning model, external funds needed (EFN) is equal to changes in;
(b) Assets-(liabilities + equity).
(c) (Assets+ liabilities-equity).
(d) (Assets + equity-liabilities).
Use the following information and horizontal analysis to compute the percentage increase in sales: Year X sales were $200,000 and year (X+1) sales were $250,000.
(a) Sales increased by 80%.
(b) Sales increased by 25%
(c) Sales increased by 20%
(d) Sales increased by 125%
The counting house Inc., purchased a 5-year property class equipment for $60,000. The firm uses the MACRS method of depreciation. What is tax depreciation for the second year of the asset’s life”?
Which one of the following would not be counted as part of incremental cash flow?
(a) Opportunity cost.
(b) Sunk cost.
(c) External cost such as brand cannibalism.
(d) External benefit such as acquisition of new technology which can be applied to other projects.
The financial ratio days’ sales in receivables is measured as:
(a) Receivables turnover plus 365 days.
(b) Accounts receivable times 365 days.
(c) Accounts receivable plus sales, divided by 365 days.
(d) 365 days divided by the receivables turnover.
The firm’s _______ are primarily interested in ratios that measure the short-term liquidity of the company and its ability to make principal and interest payments.
(a) Board of directors
(d) Financial managers
Which one of the following would not be counted after the end of a project?
(a) Scarp value.
(b) Continuation value.
(c) Release of working capital.
(d) Change in working capital.
An increase in which one of the following accounts increases a firm’s current ratio without affecting its quick ratio?
(a) Accounts payable
(d) Accounts receivable
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