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1Ⅰ.Fillintheblanks:(10points,2pointsforeach)A卷1.Thethreebasicquestionsaddressedbyafinancialmanagerare:capitalbudgeting,capitalstructure,and.2.Thethreebasiclegalformsoforganizingabusinessare,partnerships,andcorporations.3.Cashflowisgeneratedbythefirmandpaidtocreditorsandshareholders.Itcanbedividedascashflow,cashflowfromchangesinfixedassetsandcashflowfromchangesinworkingcapital.4.ismeasuredascurrentassetsdividedbycurrentliabilities.5.Aformofequitywhichreceivespreferentialtreatmentinthepaymentofdividendsiscalled.Ⅱ.MultipleChoice:(20points,1pointforeachproblem.)1.Thepersongenerallydirectlyresponsibleforoverseeingthecashandcreditfunctions,financialplanning,andcapitalexpendituresisthe:a.treasurer.b.director.c.controller.d.chairmanoftheboard.2.Theprimarygoaloffinancialmanagementisto:a.maximizecurrentdividendspershareoftheexistingstock.b.maximizethecurrentvaluepershareoftheexistingstock.c.avoidfinancialdistress.d.minimizeoperationalcostsandmaximizefirmefficiency.3.Whichoneofthefollowingstatementsiscorrectconcerningtheorganizationalstructureofacorporation?a.Thevicepresidentoffinancereportstothechairmanoftheboard.b.Thechiefexecutiveofficerreportstotheboardofdirectors.c.Thecontrollerreportstothepresident.d.Thetreasurerreportstothechiefexecutiveofficer.4.Whichoneofthefollowingisaprimarymarkettransaction?a.adealersellingsharesofstocktoanindividualinvestorb.adealerbuyingnewlyissuedsharesofstockfromacorporationc.anindividualinvestorsellingsharesofstocktoanotherindividuald.abanksellingsharesofamedicalfirmtoanindividual5.Thefinancialstatementshowingafirm’saccountingvalueonaparticulardateisthe:a.incomestatement.b.balancesheet.c.statementofcashflows.d.taxreconciliationstatement.6.A(n)____assetisonewhichcanbequicklyconvertedintocashwithoutsignificantlossinvalue.a.currentb.fixedc.intangibled.liquid7.Onekeyreasonalong-termfinancialplanisdevelopedisbecause:a.theplandeterminesyourfinancialpolicy.b.theplandeterminesyourinvestmentpolicy.c.therearedirectconnectionsbetweenachievablecorporategrowthandthefinancialpolicy.d.thereisunlimitedgrowthpossibleinawell-developedfinancialplan.8.Thecurrentratioismeasuredas:2a.currentassetsminuscurrentliabilities.b.currentassetsdividedbycurrentliabilities.c.currentliabilitiesminusinventory,dividedbycurrentassets.d.cashonhanddividedbycurrentliabilities.9.TheExternalFundsNeeded(EFN)equationdoesnotmeasuresthe:a.additionalassetrequirementsgivenachangeinsales.b.additionaltotalliabilitiesfinancingraisedgiventhechangeinsales.c.rateofreturntoshareholdersgiventhechangeinsales.d.netincomeexpectedtobeearnedgiventhechangeinsales.10.Tocalculatesustainablegrowthrate,theanalystneedsthe:a.profitmargin.b.payoutratioandassetrequirementratio.c.debt-to-equityratio.d.Alloftheabove11.Theinterestratechargedperperiodmultipliedbythenumberofperiodsperyeariscalledthe_____rate.a.effectiveannualb.annualpercentagec.periodicinterestd.compoundinterest12.Youarecomparingtwoannuitieswhichoffermonthlypaymentsfortenyears.Bothannuitiesareidenticalwiththeexceptionofthepaymentdates.AnnuityApaysonthefirstofeachmonthwhileannuityBpaysonthelastdayofeachmonth.Whichoneofthefollowingstatementsiscorrectconcerningthesetwoannuities?a.Bothannuitiesareofequalvaluetoday.b.AnnuityBisanannuitydue.c.AnnuityAhasahigherfuturevaluethanannuityB.d.AnnuityBhasahigherpresentvaluethanannuityA.13.Thepresentvalueoffuturecashflowsminusinitialcostiscalleda.thefuturevalueoftheproject.b.thenetpresentvalueoftheproject.c.theequivalentsumoftheinvestment.d.theinitialinvestmentriskequivalentvalue.14.Thestatedinterestpayment,indollars,madeonabondeachperiodiscalledthebond’s:a.coupon.b.facevalue.c.maturity.d.yieldtomaturity.15.Theformofbondissueinwhichtheregistrarofthecompanyrecordsownershipofeachbond,withrelevantpaymentsmadedirectlytotheownerofrecord,iscalledthe_____form.a.new-issueb.registeredc.bearerd.debenture16.Anaccountmanagedbythebondtrusteeforearlybondredemptionpaymentsiscalleda:a.sinkingfund.b.collateralpaymentaccount.c.deedintrustaccount.d.callprovision.17.Theannualcouponpaymentofabonddividedbyitsmarketpriceiscalledthe:a.couponrate.b.currentyieldc.yieldtomaturityd.bid-askspread.18.Thestockvaluationmodelthatdeterminesthecurrentstockpricebydividingthenextannualdividendamountbytheexcessofthediscountratelessthedividendgrowthrateiscalledthe_____model.a.zerogrowthb.dividendgrowthc.capitalpricingd.earningscapitalization319.Thedifferencebetweenthepresentvalueofaninvestmentanditscostisthe:a.netpresentvalue.b.internalrateofreturn.c.paybackperiod.d.profitabilityindex.20.Thechangesinafirm’sfuturecashflowsthatareadirectconsequenceofacceptingaprojectarecalled_____cashflows.a.incrementalb.stand-alonec.after-taxd.netpresentvalueⅢ.Judgethefollowingsentences.Ifitistrue,writeT;IfitisFalse,writeF.(10points,1pointforeach)1.Theoriginalsaleofsecuritiesbygovernmentsandcorporationstothegeneralpublicoccursintheprimarymarket.2.Noncashitemsrefertothecostsincurredforthepurchaseofintangiblefixedassets.3.Thereceivablesturnoverratioismeasuredassalesplusaccountsreceivable.4.Thehighesteffectiveannua