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FIN 571 Final ExamLearn a better online education course for FIN 571 Final Exam, FIN 571Final Exam Answers, FIN 571 Final Exam 57 Question and Answers,UOP FIN 571 Final Exam, Test Paper for your brilliant future through byUOP E Help.FIN 571 Final Exam (Newest)1. In a general partnership, the general partners have liability andhave control over day-to-day operations. limited; nono; totalunlimited; nolimited; totalunlimited; total2. Which one of these is a correct definition? Long-term debt is defined as a residual claim on a firm’s assets.Net working capital equals current assets plus current liabilities.Current liabilities are debts that must be repaid in 18 months or less.Tangible assets are fixed assets such as patents.Current assets are assets with short lives, such as inventory.3. The owners of a limited liability company generally prefer: being taxed personally on all business income. having liability exposure similar to that of a general partner.
having liability exposure similar to that of a sole proprietor. being taxed like a corporation. being taxed like a corporation with liability like a partnership.4. Which one of the following is least apt to help convince managers to workin the best interest of the stockholders?pay raises based on length ofservice implementation of a stock option planthreat of a proxy fightmanagement compensation tied to the market value of the firm’s stockthreat of a takeover of the firm by unsatisfied stockholders5.a. Compute the future value of 2,000 compounded annually for 20 years at4 percent. (Do not round intermediate calculations and round your answerto 2 decimal places, e.g., 32.16.)Future value b. Compute the future value of 2,000 compounded annually for 15 years at10 percent. (Do not round intermediate calculations and round youranswer to 2 decimal places, e.g., 32.16.)Future value c. Compute the future value of 2,000 compounded annually for 25 years at 4percent. (Do not round intermediate calculations and round your answer to2 decimal places, e.g., 32.16.)Future value
6. For each of the following, compute the present value (Do not roundintermediate calculations and round your answers to 2 decimal places, e.g.,32.16.):Present Value Years 1453035Interest Rate8%14158Future value 15,551 52,557 887,073 551,1647. First City Bank pays 8 percent simple interest on its savings accountbalances, whereas Second City Bank pays 8 percent interest compoundedannually. If you made a 74,000 deposit in each bank, how much more moneywould you earn from your Second City Bank account at the end of 8years? (Do not round intermediate calculations and round your answerto 2 decimal places, e.g., 32.16.)Difference in accounts 8. Winslow, Inc. stock is currently selling for 40 a share. The stock has adividend yield of 3.8 percent. How much dividend income will you receiveper year if you purchase 500 shares of this stock? 1,053 152 190 329 760
9. You bought 360 shares of stock at a total cost of 7,754.40. Youreceived a total of 403.20 in dividends and sold your shares for 19.98 ashare. What was your total rate of return? 5.38%7.24%-1.29%3.67%-2.04%10. According to generally accepted accounting principles (GAAP), revenue isrecognized as income when: income taxes are paid on the revenue earned.the transaction is complete and the goods or services are delivered.a contract is signed to perform a service or deliver a good.payment is requested.managers decide to recognize it.11. Sankey, Inc., has current assets of 4,230, net fixed assets of 25,700,current liabilities of 3,500, and long-term debt of 14,400. (Do not roundintermediate calculations.) What is the value of the shareholders' equity account for this firm?Shareholders' equity How much is net working capital?Net working capital 12. The financial statement summarizing a firm's accounting performanceover a period of time is the: statement of equity.
income statement.tax reconciliation statement.balance sheet.statement of cash flows.13. Net working capital is defined as: current assets minus current liabilities.total assets minus total liabilities.fixed assets minus long-term liabilities.current assets plus stockholders' equity.current assets plus fixed assets.14. Jessica's Boutique has cash of 59, accounts receivable of 62, accountspayable of 210, and inventory of 140. What is the value of the quickratio? .301.82.67.581.2415. Al's Sport Store has sales of 2,940, costs of goods sold of 2,090,inventory of 526, and accounts receivable of 445. How many days, onaverage, does it take the firm to sell its inventory assuming that all salesare on credit? 90.665.3119.991.9120.4
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Net working capital equals current assets plus current liabilities. Current liabilities are debts that must be repaid in 18 months or less. Tangible assets are fixed assets such as patents. Current assets are assets with short lives, such as inventory. 3. The owners of a limited liability company generally prefer:
