FINC 331 FINC331 Homework 1 Solution (UMUC)

FINC 331 FINC331 Homework 1 Solution (UMUC)

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FINC 331 Homework 1

  1. Which of the following is a responsibility of a financial manager?
  2. Which of the following is a reason why a person would study finance?
  3. Which of the following jobs require a background in finance?
  4. What are the three central components of business ethics?
  5. Which of the following should you consider when choosing an organizational structure for a business?
  6. Which of the following is NOT a characteristic of a sole proprietorship?
  7. Which of the following is a legal characteristic of a general partnership?
  8. Which of the following is a characteristic of a corporation?
  9. Which of the following terms describes the protection of personal assets stemming from the corporate structure?
  10. At what level is income taxed in the S corporation?
  11. Which of the following is a factor that contributes to the conflict of interest between a company's bondholders and its shareholders?
  12. A company issued debt that did not grant the bondholders the ability to seize the company's assets to settle the obligation. This debt can be traded on a public exchange. Which of the following best describes this debt?
  13. Which of the following is the correct definition of the accounting equation?
  14. Which of the following is NOT a correct way of calculating a liquidity ratio?
  15. Which of the following is NOT a way to calculate the debt to equity ratio?
  16. The balance sheet is the only financial statement which ____
  17. Which of the following statements regarding the declining balance method of depreciation is true?
  18. A company has earnings before income tax of $2 million and a 15% tax rate. It had $250,000 in depreciation expenses with a $50,000 increase in working capital. It had another $100,00 in capital expenditures. What is its free cash flow.
  19. Which of the following does NOT describe the purpose of a Cash Flow Statement?
  20. A company's retained earnings at the beginning of the year is $1 million. It paid $100,000 in dividends, had $250,000 in net income, and its goodwill increased by $10,000. What is its retained earnings as of the end of the year?

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