· Question 1 2 out of 2 points Which of the following is a primary market transaction? · Question 2 2 out of 2 points Which of the following statements is CORRECT? · Question 3 2 out of 2 points Which of the following statements is CORRECT? · Question 4 2 out of 2 points Which of the following statements is CORRECT? · Question 5 2out of 2 points Which of the following statements is CORRECT? · Question 6 2 out of 2 points Which of the following statements is CORRECT? · Question 7 2 out of 2 points Which of the following statements is CORRECT? · Question 8 2 out of 2 points Which of the following statements is CORRECT? · Question 9 2 out of 2 points Aubey Aircraft recently announced that its net income increased sharply from the previous year, yet its net cash flow from operations declined. Which of the following could explain this performance? · Question 10 2 out of 2 points Assume that Congress recently passed a provision that will enable Barton’s Rare Books (BRB) to double its depreciation expense for the upcoming year but will have no effect on its sales revenue or tax rate. Prior to the new provision, BRB’s net income after taxes was forecasted to be $4 million. Which of the following best describes the impact of the new provision on BRB’s financial statements versus the statements without the provision? Assume that the company uses the same depreciation method for tax and stockholder reporting purposes. · Question 11 2 out of 2 points DeYoung Devices Inc., a new high-tech instrumentation firm, is building and equipping a new manufacturing facility. Assume that currently its equipment must be depreciated on a straight-line basis over 10 years, but Congress is considering legislation that would require the firm to depreciate the equipment over 7 years. If the legislation becomes law, which of the following would occur in the year following the change? · Question 12 2 out of 2 points Which of the following items is NOT included in current assets? · Question 13 2 out of 2 points For managerial purposes, i.e., making decisions regarding the firm’s operations, the standard financial statements as prepared by accountants under Generally Accepted Accounting Principles (GAAP) are often modified and used to create alternative data and metrics that provide a somewhat different picture of a firm’s operations. Related to these modifications, which of the following statements is CORRECT? · Question 14 2 out of 2 points Which of the following statements is CORRECT? · Question 15 2 out of 2 points Which of the following statements is CORRECT? · Question 16 2 out of 2 points Which of the following items cannot be found on a firm’s balance sheet under current liabilities? Selected Answer: Cost of goods sold. Correct Answer: Cost of goods sold. · Question 17 2 out of 2 points Danielle’s Sushi Shop last year had (1) a negative net cash flow from operations, (2) a negative free cash flow, and (3) an increase in cash as reported on its balance sheet. Which of the following factors could explain this situation? · Question 18 2 out of 2 points Which of the following statements is CORRECT? · Question 19 2 out of 2 points Companies A and C each reported the same earnings per share (EPS), but Company A’s stock trades at a higher price. Which of the following statements is CORRECT? · Question 20 2 out of 2 points If a bank loan officer were considering a company’s request for a loan, which of the following statements would you consider to be CORRECT? · Question 21 2 out of 2 points Cordelion Communications is considering issuing new common stock and using the proceeds to reduce its outstanding debt. The stock issue would have no effect on total assets, the interest rate Cordelion pays, EBIT, or the tax rate. Which of the following is likely to occur if the company goes ahead with the stock issue? · Question 22 2 out of 2 points Arshadi Corp.’s sales last year were $52,000, and its total assets were $22,000. What was its total assets turn…
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