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FIN 534 Week 5 Midterm Examination Part 1Review Test Submission: Week 5 Midterm Exam Part 1Course Financial Management Test Week 5 Midterm Exam Part 1 Instructions This exam consist of 25 multiple choice questions and covers the material in Chapters 1 through 3. Results Displayed Submitted Answers, Correct Answers, Feedback Question 12 out of 2 pointsCheers Inc. operates as a partnership. Now the partners have decided to convert the business into a regular corporation. Which of the following statements is CORRECT?Question 22 out of 2 pointsWhich of the following statements is CORRECT?Question 32 out of 2 pointsWhich of the following statements is CORRECT?Question 42 out of 2 pointsWhich of the following statements is CORRECT?Question 52 out of 2 pointsWhich of the following statements is CORRECT?Question 62 out of 2 pointsMoney markets are markets forQuestion 72 out of 2 pointsWhich of the following could explain why a business might choose to operate as a corporation rather than as a sole proprietorship or a partnership?Question 82 out of 2 pointsWhich of the following statements is CORRECT?Question 92 out of 2 pointsWhich of the following statements is CORRECT?Question 102 out of 2 pointsAubey 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 112 out of 2 pointsWhich of the following statements is CORRECT?Question 120 out of 2 pointsDeYoung 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 132 out of 2 pointsWhich of the following would be most likely to occur in the year after Congress, in an effort to increase tax revenue, passed legislation that forced companies to depreciate equipment over longer lives? Assume that sales, other operating costs, and tax rates are not affected, and assume that the same depreciation method is used for tax and stockholder reporting purposes.Question 142 out of 2 pointsAssume 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 152 out of 2 pointsWhich of the following statements is CORRECT?Question 162 out of 2 pointsAnalysts following Armstrong Products recently noted that the company’s operating net cash flow increased over the prior year, yet cash as reported on the balance sheet decreased. Which of the following factors could explain this situation?Question 172 out of 2 pointsWhich of the following statements is CORRECT?Question 182 out of 2 pointsConsidered alone, which of the following would increase a company’s current ratio?Question 192 out of 2 pointsA firm’s new president wants to strengthen the company’s financial position. Which of the following actions would make it financially stronger?Question 20The Cavendish Company recently issued new common stock and used the proceeds to pay off some of its short-term notes payable. This action had no effect on the company’s total assets or operating income. Which of the following effects would occur as a result of this action?Question 212 out of 2 pointsWhich of the following statements is CORRECT?Question 222 out of 2 pointsCompanies 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 23Which of the following statements is CORRECT?Question 242 out of 2 pointsA firm wants to strengthen its financial position. Which of the following actions would increase its current ratio?Question 252 out of 2 pointsCordelion 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?

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