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1、Chapter13-LeverageandCapitalStructureChapter13LeverageandCapitalStructure?MultipleChoiceQuestions?1.?Theuseofborrowingbyanindividualtoadjusthisorheroverallexposuretofinancialleverageisreferredtoas:?A.?M&MPropositionI.B.?capitalrestructuring.C.?homemadeleverage.D.?M&MPropositionII.E
2、.?financialriskmanagement.?2.?WhichoneofthefollowingstatementsmatchesM&MPropositionI??A.?Thecostofequitycapitalhasapositivelinearrelationshipwithafirm'scapitalstructure.B.?Thedividendspaidbyafirmdeterminethefirm'svalue.C.?Thecostofequitycapitalvariesinresponsetochangesinafirm'scapi
3、talstructure.D.?Thevalueofafirmisindependentofthefirm'scapitalstructure.E.?Thevalueofafirmisdependentonthefirm'scapitalstructure.?3.?Whichoneofthefollowingstatesthatafirm'scostofequitycapitalisapositivelinearfunctionofthefirm'scapitalstructure??A.?StatictheoryofcapitalstructureB.?M
4、&MPropositionIC.?M&MPropositionIID.?HomemadeleveragetheoryE.?WACC?4.?Whichoneofthefollowingistheequityriskarisingfromthedailyoperationsofafirm??A.?StrategicriskB.?FinancialriskC.?LiquidityriskD.?IndustryriskE.?Businessrisk?13-76Chapter13-LeverageandCapitalStructure5.?Whichoneofthef
5、ollowingistheequityriskarisingfromthecapitalstructureselectedbyafirm??A.?StrategicriskB.?FinancialriskC.?LiquidityriskD.?IndustryriskE.?Businessrisk?6.?Payinginterestreducesthetaxesowedbyafirm.Whichoneofthefollowingtermsappliestothisrelationship??A.?StatictheoryofinterestratesB.?M&
6、MPropositionIC.?FinancialriskD.?InteresttaxshieldE.?Homemadeleverage?7.?Whichoneofthefollowingisadirectbankruptcycost??A.?LossofcustomergoodwillresultingfromabankruptcyfilingB.?LegalandaccountingfeesrelatedtoabankruptcyproceedingC.?ManagementtimespentonabankruptcyproceedingD.?Anyfi
7、nancialdistresscostE.?Costsafirmspendstryingtoavoidbankruptcy?8.?Whichoneofthefollowingtermsappliestothecostsincurredbyafirmwhichistryingtoavoidfilingforbankruptcy??A.?IndirectbankruptcycostsB.?DirectbankruptcycostsC.?StatictheorycostD.?OptimalcapitalstructurecostE.?Reorganizationc
8、osts?13-76Chapter13-Levera