The financial manager most directly responsible for producing the company’s financial statements and directing its cost accounting functions is the A) treasurer. B) chief financial officer. C) controller. D) vice president-financier. ANSWER C
Date: September 19th, 2020
Under the Homeowners 3 policy, all of the following are options of the insurer for settling claims EXCEPT A) paying the claim in cash. B) replacing the property. C) repairing the property. D) paying the claim with insurance company stock. ANSWER Answer: D
Date: September 19th, 2020
Cash management is typically the responsibility of the: A) chief executive officer. B) vice president of production and operations. C) financial manager. D) company internal auditor. ANSWER C
Date: September 19th, 2020
The investment banking business is dominated by a few very large, stand-alone investment banking firms. Indicate whether the statement is true or false ANSWER FALSE
Date: September 19th, 2020
All of the following statements about the cancellation of a Homeowners 3 policy are true EXCEPT A) The insurer may cancel a new policy for any reason if it has been in force for less than 60 days and is not a renewal policy. B) At least 100 days’ notice of cancellation must be given […]
Date: September 19th, 2020
Investing activities are concerned with: A) how a firm can best manage its cash flows as they arise in its day-to-day operations. B) vice president of productions and operations. C) managing a firm’s cash budgeting procedures. D) managing a firm’s working capital. ANSWER C
Date: September 19th, 2020
The two principal sources of financing for corporations are A) cash and common equity. B) debt and equity. C) common equity and preferred equity. D) debt and accounts payable. ANSWER B
Date: September 19th, 2020
Michelle had four matching end tables in her home. A fire damaged the home, destroying two of the end tables. Michelle’s home was covered by an unendorsed Homeowners 3 policy. Which of the following is true with regard to the settlement for the end tables in this case? A) Loss to a pair or set […]
Date: September 19th, 2020
Dunweiler Inc, is developing a pro forma income statement for the coming year. The chief financial officer estimates that sales will be $150,000,000. If selling, general, and administrative expenses (SGA) are historically 18% of sales, what are the expected SGA expenses (in dollars)? A) $18,000,000 B) $27,000,000 C) $30,000,000 D) $41,000,000 ANSWER B […]
Date: September 19th, 2020
Jones, Inc. has a current ratio equal to 1.40. Which of the following transactions will increase the company’s current ratio? A) The company pays back $50,000 of its long-term debt. B) The company collects $500,000 of its accounts receivable. C) The company sells $1 million of inventory on credit. D) The company writes a $30,000 […]
Date: September 19th, 2020
