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1、FRL300Midterm1-Solutions1Networkingcapitalisdefinedas:A.totalliabilitiesminusshareholders'equity.B.currentliabilitiesminusshareholders'equity.C.fixedassetsminuslong-termliabilities.D.totalassetsminustotalliabilities.E.currentassetsminuscurrentliabilities.Refertosection2.12Wh
2、ichoneofthefollowingisthefinancialstatementthatsummarizesafirm'srevenueandexpensesoveraperiodoftime?A.incomestatementB.balancesheetC.statementofcashflowsD.taxreconciliationstatementE.marketvaluereportRefertosection2.23The_____taxrateisequaltototaltaxesdividedbytotaltaxablein
3、come.A.deductibleB.residualC.totalD.averageE.marginalRefertosection2.34Cashflowtostockholdersisdefinedas:A.thetotalamountofinterestanddividendspaidduringthepastyear.B.thechangeintotalequityoverthepastyear.C.cashflowfromassetsplusthecashflowtocreditors.D.operatingcashflowminu
4、sthecashflowtocreditors.E.dividendpaymentslessnetnewequityraised.Refertosection2.45Thecashflowrelatedtointerestpaymentslessanynetnewborrowingiscalledthe:A.operatingcashflow.B.capitalspendingcashflow.C.networkingcapital.D.cashflowfromassets.E.cashflowtocreditors.Refertosectio
5、n2.46Whichoneofthefollowingisincludedinafirm'smarketvaluebutyetisexcludedfromthefirm'saccountingvalue?A.realestateinvestmentB.goodreputationofthecompanyC.equipmentownedbythefirmD.moneyduefromacustomerE.anitemheldbythefirmforfuturesaleRefertosection2.17Whichoneofthefollowingr
6、epresentsthemostliquidasset?A.$100accountreceivablethatisdiscountedandcollectedfor$96todayB.$100ofinventorywhichissoldtodayoncreditfor$103C.$100ofinventorywhichisdiscountedandsoldfor$97cashtodayD.$100ofinventorythatissoldtodayfor$100cashE.$100accountsreceivablethatwillbecoll
7、ectedinfullnextweek8Shareholders'equity:A.increasesinvalueanytimetotalassetsincreases.B.isequaltototalassetsplustotalliabilities.C.decreaseswhenevernewsharesofstockareissued.D.includeslong-termdebt,preferredstock,andcommonstock.E.representstheresidualvalueofafirm.Refertosect
8、ion2.19A.$710B.$780C.$990D.$2,430E.$2,640Currentassets=$520+$190+$70=$78010
