## Sunday, May 15, 2011

### MATH 117 APPENDIX D

1) The cost, in millions of dollars, to remove x % of pollution in a lake modeled by  (Hint: if it is 20%, substitute 20 instead of x, not 20% or 0.2). Round your answers to the nearest tenth (of a million).
A) What is the cost to remove 45% of the pollutant?
B) What is the cost to remove 72% of the pollutant?
C) What is the cost to remove 96% of the pollutant?
D) For what value is this equation undefined?
E) Do the answers to sections a. through d. match your expectations? Explain why or why not.

2) Biologists want to set up a station to test alligators in the lake for West Nile Virus. Suppose that the costs for such a station are \$5,100 for setup costs and \$4.50 to administer each test.
A) Write an expression that gives the total cost to test x animals
B) You can find the average cost per animal by dividing total costs by number of animals. Write the expression that gives the average cost per animal.
C) Find the average cost per animal for 15 animals, 150 animals, and 1,500 animals. Round your final answers to the nearest cent.
D) As the number of animals tested increases, what happens to the average cost to test the animals? Would the average cost ever fall below \$5.00? If so, identify a value that supports your answer. If not, explain how you know.
E) How many animals should be tested for the average cost to be \$21.00 per animal?

3) To estimate animal populations, biologists count the total number of animals in a small section of a habitat. The total population of animals is directly proportional to the size of the habitat (in acres) polled and inversely proportional to the average distance to a source of fresh water (in miles). [Hint: Carefully review Section 6.9 of the assigned readings before attempting this problem]
A) Write an equation using only three variables that could be used to solve for the constant of variation k
B) A biologist counted 27 white tail deer in a 100-acre parcel of land in a nature preserve, where the average distance to a source of fresh water was 0.4 mi. Find the constant of variation k
C) If the entire nature preserve is 9,500 acres, then what is the total white tail deer population in the preserve, assuming the average distance to a source of fresh water within the preserve is 1.2 mi? Describe how you arrived at your answer

### Geography 101 Quiz

Question 101 (Multiple Choice Worth 0.55 points)
Which of the following associations is incorrect?
A. Niger River, Bulge of Africa
B. Congo River, The Congo
C. Zambezi River, Angola
D. Nile River, Sudan
E. Orange River, Kenya
Question 102 (Multiple Choice Worth 0.55 points)
A market that is set up only on certain days of the week is known as a ____ market.
A. Bantustan
B. condominium
D. periodic
E. sequent occupant
Question 103 (Multiple Choice Worth 0.55 points)
Quebec has:
A. a declining birth rate.
B. offered incentives for French speakers from elsewhere to move to Quebec.
C. significant hydroelectric power.
D. a population that has rapidly urbanized.
E. all of the above are true.
Question 104 (Multiple Choice Worth 0.55 points)
The geopolitical theory that indicates that the rimland is the key to control of the world was forwarded by:
A. Marx
B. Mackinder
C. Spykman
D. Lenin
E. Gorbachev
Question 105 (Multiple Choice Worth 0.55 points)
Central America, as defined by geographers, is:
A. a region within Middle America between Mexico and Colombia
B. a region that incorporates all the lands and islands between the U. S. and South America
C. the regional term for the Greater Antilles, “that is, the Caribbean's larger islands”
D. the heartland or central zone of Middle America (its technical name is Mestizoamerica)
E. the region covered by Mexico, Guatemala, and Belize
Question 106 (Multiple Choice Worth 0.55 points)
Which city contains the United States' largest cluster of Asian ethnics?
A. Los Angeles
B. Miami
C. New York
D. Montreal
E. Pittsburgh
Question 109 (Multiple Choice Worth 0.55 points)
Which of the following statements about Russia and North America is false?
A. Next to Canada and Mexico, Russia is the third closest neighbor to the United States.
B. The Russians established forts and villages along the entire California coast.
C. The Russians sold Alaska to the United States in 1867.
D. The Bering Strait separates the United States from Russia.
E. The USSR was a United States ally in World War II.
Question 110 (Multiple Choice Worth 0.55 points)
Brazil's Northeast:
A. was Brazil's source area: its early plantation economy developed here first
B. today still produces the country's coffee crop
C. is the site of Brazil's most spectacular recent surge of economic development
D. contains the largest number of German settlers in the country
F. remains mainly Indian country: most of the Amazonian Indians have resettled here
Question 111 (Multiple Choice Worth 0.55 points)
Your textbook identifies Eastern Europe as a zone of politico-geographical splintering and fracturing, called a:
A. Irredentist region
B. hinterland
C. shatter belt
D. Balkan
E. heartland region
Question 112 (Multiple Choice Worth 0.55 points)
Volta Redonda is most closely identified with Brazil's:
A. iron and steel manufacturing activities
B. growing hydroelectric power production capacity
C. earliest European settlements
D. Amazonian growth poles
E. black population clusters
Question 113 (Multiple Choice Worth 0.55 points)
Which of the following is not a major cause of tropical deforestation in Central America?
A. need to clear land for cattle pasture
B. persistent economic and demographic problems
C. the lumber industry
D. population growth
E. all of the above are major causes
Question 115 (Multiple Choice Worth 0.55 points)
Slovakia has a large _______ minority.
A. Czech
B. Hungarian
C. Serbian
D. Moldovan
E. Jewish
Question 116 (Multiple Choice Worth 0.55 points)
From the end of World War II until the 1990s, Eastern Europe was dominated by the:
A. Ottomans
B. Hapsburgs
C. Lithuanians
D. Soviet Union
E. Poles
Question 117 (Multiple Choice Worth 0.55 points)
The ethnic group exerting the most control in Kenya is the:
a. Kikuyu
b. Swahili
c. Tutsi
d. Bantu
e. Hutu
Question 118 (Multiple Choice Worth 0.55 points)
The Peru (Humboldt) Current is:
A. a cool offshore ocean current conducive to commercial fishing that flows parallel to the
Peruvian coastline
B. a drying wind that blows off the Andes and creates desert-like conditions along the Peruvian coastal plain
C. a rising air movement that brings the hot and humid conditions of the tierra fría to the uppermost Andean basins
D. a new high voltage electrical network that transmits Amazon-oil-generated power by pipeline to the cities across the Andes
E. the name of Bolivár's revolutionary movement of the 1960s
Question 119 (Multiple Choice Worth 0.55 points)
Which country has no dominant ethnic groups?
A. Nigeria
B. Ethiopia
C. Zimbabwe
D. The Congo
E. Kenya
Question 120 (Multiple Choice Worth 0.55 points)
The two European powers that fought over control of the area that became Canada were the:
A. French and British
B. British and Dutch
C. French and Spanish
D. Dutch and French
E. none of the above
Question 121 (Multiple Choice Worth 0.55 points)
Japanese investment in Russia's Far East has been held up by a dispute over:
A. the Amur River
B. Kurile Islands
C. Manchuria
D. Sakhalin Island
Question 122 (Multiple Choice Worth 0.55 points)
Which of the following states is unilingual in that it possesses a single language spoken throughout its territory?
A. Switzerland
B. Austria
C. Yugoslavia
D. Belgium
E. United Kingdom
Question 123 (Multiple Choice Worth 0.55 points)
As a result of U.S. interest in a Panama Canal during the early 20th century:
A. Panama became a territorially coherent state
B. a treaty was drawn granting the U. S. permanent sovereignty over the Canal Zone
C. Panama became independent from Colombia
D. a Panamanian revolt was subdued by U. S. intervention
E. a French company finally completed the canal in 1918
Question 124 (Multiple Choice Worth 0.55 points)
_________ is the city with the most Asians in North America.
A. Denver
B. Vancouver
C. Seattle
D. San Diego
E. Chicago
Question 125 (Multiple Choice Worth 0.55 points)
Which South American “culture sphere” resembles the Middle American “Rimland?”
A. The European-Commercial region
B. The Tropical-Plantation sphere
C. The Indo-Subsistence region
D. The Mestizo-Transitional region
E. The “Undifferentiated” area
Question 126
The Switzerland of Central America, the region's oldest democratic republic is:
A. Nicaragua
B. Jamaica
C. Belize
D. Honduras
E. Costa Rica
Question 127 (Multiple Choice Worth 0.55 points)
Which of the following is landlocked?
A. Paraguay
C. Guiana
D. Peru
E. Chile
Question 128 (Multiple Choice Worth 0.55 points)
Which of the following is one of the world's most productive post-industrial complexes?
A. Phoenix and Tucson
B. Dallas-Fort Worth, Houston and San Antonio
C. El Paso
D. Miami, Fort Lauderdale, and West Palm Beach
E. Charlotte, Atlanta, and Charleston
Question 129 (Multiple Choice Worth 0.55 points)
An industry identified in your textbook as one with mixed blessing for Middle America is:
A. agriculture
B. industry
C. banking
D. tourism
E. diamond cutting
Question 131 (Multiple Choice Worth 0.55 points)
This former Soviet Republic contains the oil city of Baki (Baku) and its people have ethnic affinities with Iran. Recently, the Armenian population of this area became refugees.
A. Azerbaijan
B. Moldavia
C. Georgia
D. Estonia
E. Turkmenistan
Question 132 (Multiple Choice Worth 0.55 points)
Italy's economic core, no longer focused on Rome, is located today in:
A. Romania
B. Po River Valley
C. the Indus River Valley
D. Greece
E. the Alpine chain
Question 133 (Multiple Choice Worth 0.55 points)
Which of the following statements concerning map scale is false?
A. The fractional scale 1:1,000,000 means one inch on the map represents one million inches on the ground.
B. If the linear scale of a map is twice another, its aerial representation is four times larger.
C. To represent a large area on a small map, a small scale is used.
D. Larger scale maps allow for greater detail in depicting regions and sub regions.
E. A map with the fractional scale 1:103,000,000 has a larger scale than one of 1:1,000,000.
Question 134 (Multiple Choice Worth 0.55 points)
_______ dominates Western Europe demographically and economically.
A. France
B. Belgium
C. Austria
D. Germany
E. Switzerland
Question 135 (Multiple Choice Worth 0.55 points)
Which of the following is not contained within the European realm?
A. The Alps
B. Scandinavia
C. Iceland
D. the old Russian portion of the Soviet Union
E. England
Question 136 (Multiple Choice Worth 0.55 points)
In the Russian revolution of 1917:
A. the czars defeated the communists
B. the Bolsheviks defeated the Leninists
C. the Bolsheviks defeated the Mensheviks
D. the whites defeated the reds
E. the capitalists defeated the communists
Question 137 (Multiple Choice Worth 0.55 points)
Inside the Russian Federation there are about _____ separate entities.
A. 21
B. 89
C. 5
D. 44
E. no separate republics are found in the Russian Federation
Question 138 (Multiple Choice Worth 0.55 points)
The term that is used to indicate decreasing levels of spatial interactions with increasing distances is:
A. distance delay
B. state's rights
C. diversity theory
D. oblast
E. distance decay
Question 140 (Multiple Choice Worth 0.55 points)
A narrow strip of land connecting two larger land bodies is known as a(n):
A. spine
B. isthmus
C. Oriente
D. rimland
E. peninsula
Question 141 (Multiple Choice Worth 0.55 points)
Nigeria's old capital of Lagos was situated within the culture area of the people called:
A. Ndebele
B. Yoruba
C. Pygmies
D. Ibo
E. Zambians
Question 142 (Multiple Choice Worth 0.55 points)
In Ecuador, a regional split has occurred between:
A. Quitos and Lima
B. Guayaquil and Amazona
C. Guayaquil and Quitos
D. Lima and Bogota
E. Quitos and Callao
Question 143 (Multiple Choice Worth 0.55 points)
The population of Russia is:
A. shrinking by about half a million per year
B. about the same size as the U.S.
C. unusual in that men live longer, on average, then women
D. increasing at an increasing rate
E. none of the above
Question 144 (Multiple Choice Worth 0.55 points)
Rubber production has had the greatest impact on which Brazilian subregion?
A. South
B. Northeast
C. state of Sao Paulo
D. Interior
E. North
Question 145 (Multiple Choice Worth 0.55 points)
The term ________ is used to describe an inland climate that is remote from the moderating influences of large water bodies.
A. climatology
B. soviet
C. continentality
D. gyre
E. latitudeness
Question 146 (Multiple Choice Worth 0.55 points)
In South America, the richest 20% of the population control _____ of the wealth.
A. 2%
B. 70%
C. 90%
D. 1%
E. 95%
Question 147 (Multiple Choice Worth 0.55 points)
The large cluster of population in the northeastern United States is known as:
A. metropolitan
B. Megalopolis
C. a transition zone
D. a cartogram
E. the San-San corridor
Question 148 (Multiple Choice Worth 0.55 points)
An industrial area east of the Kuzbas is centered around:
A. Kiev
B. Uzbekistan
C. Lake Baykal
D. Odessa
E. Siberia
Question 149 (Multiple Choice Worth 0.55 points)
Which of the following statements is incorrect?
A. Although China has a tremendously large population, it still has extensive areas nearly devoid of permanent population.
B. More than one-fourth of the world's population presently resides in India.
C. Megalopolis includes all cities in the U.S. urban complex from Boston to Washington.
D. The two largest population clusters are shrinking.
E. All of the above are correct.
Question 150 (Multiple Choice Worth 0.55 points)
. The major conurbation of LonXXXXX XXXXXes within which of the following regions?
A. Southern England
B. Northern England
C. Scotland
D. Wales
E. LonXXXXX XXXXXes on the border between the North and the South
Question 151 (Multiple Choice Worth 0.55 points)
The territory in dispute between Azerbaijan and Armenia is:
A. Georgia
B. Abkhazian
C. Nakhichevan
D. Nagorno-Karabakh
E. South Ossetia
Question 152 (Multiple Choice Worth 0.55 points)
Which of the following is not an important manufacturing region of the Soviet Union?
A. Volga Region
B. Urals Region
C. Donbas Region
D. Central Industrial Region
E. the Muslim region of central Asia
Question 153 (Multiple Choice Worth 0.55 points)
The country in Equatorial Africa with significant oil supplies and an upper middle income economy is:
A. Congo
B. Cameroon
C. Central African Republic
D. Gabon
E. Equatorial Guinea
Question 154 (Multiple Choice Worth 0.55 points)
Which of the following statements is false?
A. Germany is larger territorially than France.
B. Germany has a better river system than France.
C. Germany is more industrialized than France.
D. Germany is more urbanized than France.
E. France has better harbors than does Germany.
Question 155 (Multiple Choice Worth 0.55 points)
The North Slope of Alaska contains large fields of:
a. cold weather crops
b. tar sands
c. diamonds
d. hydroelectric power
e. coal
Question 156 (Multiple Choice Worth 0.55 points)
Most of Argentina's population is clustered in the:
A. Gran Chaco
B. Patagonia
C. pampas
D. Tierra del Fuego
E. Parana River Valley
Question 157 (Multiple Choice Worth 0.55 points)
What percentage of the Caribbean population lives in cities:
A. 67%
B. 80%
C. 10%
D. 20%
E. 40%
Question 158 (Multiple Choice Worth 0.55 points)
The geographic principle under which particular peoples and particular places concentrate on the production of particular goods is known as:
A. spatial specialization
B. Balkanization
C. supranationalism
D. irredentism
E. local functional specialization
Question 159 (Multiple Choice Worth 0.55 points)
The once most important crop of Cuba, which has been losing its position as the mainstay of the Cuban economy is:
A. corn
B. wheat
C. sugar
D. grapes
E. bananas
Question 160 (Multiple Choice Worth 0.55 points)
This African country is a former French colony, built a Roman Catholic basilica to rival St. Peter's in Rome, and has recently seen a slowing of the economy.
A. Ivory Coast
B. South Africa
C. Somalia
D. Tanganyika
E. Benin
Question 161 (Multiple Choice Worth 0.55 points)
Which of the following is not an example of globalization?
A. McDonald's opening in France
B. NAFTA
C. the use of English
D. Japanese cars being made in Thailand
E. tariffs imposed on automobiles
Question 162 (Multiple Choice Worth 0.55 points)
The country in Equatorial Africa that had a border dispute with Nigeria over an oil-rich area is:
A. Congo
B. Cameroon
C. Central African Republic
D. Gabon
E. Equatorial Guinea
Question 163 (Multiple Choice Worth 0.55 points)
Which of the following countries is not located in Equatorial Africa?
A. Gabon
B. Congo
C. Mauritania
D. Cameroon
E. Central African Republic
Question 164 (Multiple Choice Worth 0.55 points)
Which of the following jobs belongs to the tertiary sector of the American economy?
A. computer systems specialist
B. chief executive of a multinational corporation
C. auto assembly line welder
D. office receptionist
E. farmer

Seth Bullock, the owner of Bullock Gold Mining, is evaluating a new gold mine in South Dakota. Dan Dority, the company’s geologist, has just finished his analysis of the mine site. He has estimated that the mine would be productive for eight years, after which the gold would be completely mined. Dan has taken an estimate of the gold deposits to Alma Garrett, the company’s financial officer. Alma has been asked by Seth to perform an analysis of the new mine and present her recommendation on whether the company should open the new mine. Alma has used estimates provided by Dan to determine the revenues that could be expected from the mine. She has also projected the expense of opening the mine and the annual operating expenses. If the company opens the mine, it will cost \$500 million today, and it will have a cash outflow of \$80 million nine years from today in costs associated with closing the mine and reclaiming the area surrounding it. The expected cash flows each year from the mine are shown in the following table. Bullock Mining has a 12 percent required return on all of its gold mines. Year Cash Flow 0 -\$500,000,000 1 60,000,000 2 90,000,000 3 170,000,000 4 230,000,000 5 205,000,000 6 140,000,000 7 110,000,000 8 70,000,000 9 -80,000,000
1. Construct a spreadsheet to calculate the payback period, internal rate of return, modified internal rate of return, and net present value of the proposed mine.
2. Based on your analysis, should the company open the mine?

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### FIN/571 CORPORATE FINANCE

1) Occurs when inaccurate information can falsely exist. A. free-rider problem B. adverse selection C. moral hazard D. The Principle of Valuable Ideas
2) Which principle states that extraordinary returns are achievable with new ideas? A. The Principle of Valuable Ideas B. The Principle of Risk-Return Trade-Off C. The Principle of Incremental Ideas D. The Notional Principle
3) Which of the following statements is true? A. The difference between the value of one action and the value of the best alternative is called an opportunity cost. B. An agent-manager can never make bad decisions. C. A security is a claim issued by a firm that pays owners interest but not dividends. D. A call option analyzes conflicts of interest and behavior in a principal-agent relationship.
4) Generally accepted accounting principles (GAAP) refers to A. the extent to which something can be sold for cash quickly and easily without loss of value. B. the length of an asset’s life when it is issued. C. a technical accounting term that encompasses the conventions, rules, and procedures necessary to define accepted accounting practice at a particular time. D. a report issued annually by a firm that includes, at a minimum, an income statement, a balance sheet, a statement of cash flows, and accompanying notes.
5) Remaining maturity refers to: A. the amount of time remaining until its maturity. B. the length of an asset’s life when it is issued. C. a technical accounting term that encompasses the conventions, rules, and procedures necessary to define accepted accounting practice at a particular time. D. a report issued annually by a firm that includes, at a minimum, an income statement, a balance sheet, a statement of cash flows, and accompanying notes.
6) The annual report refers to A. the extent to which something can be sold for cash quickly and easily without loss of value. B. a report issued annually by managers to primarily convey information about select working capital ratios. C. the length of time remaining until an asset’s maturity. D. a report issued annually by a firm that includes, at a minimum, an income statement, a balance sheet, a statement of cash flows, and accompanying notes.
7) The firm’s assets in the balance sheet refer to: A. the extent to which something can be sold for cash quickly and easily without loss of value. B. the productive resources in the firm’s operations. C. the statement of a firm's financial position at one point in time, including its assets and the claims on those assets by creditors (liabilities) and owners (stockholders' equity).
8) Book value (or Net book value) refers to: A. the net amount shown in the accounting statements. B. the length of an asset’s life when it is issued. C. the statement of a firm's financial position at one point in time, including its assets and the claims on those assets by creditors (liabilities) and owners (stockholders' equity). D. the price for which something could be bought or sold in a reasonable length of time, where “reasonable length of time” is defined in terms of the item’s liquidity.
9) Original maturity refers to: A. the net amount (net book value) for something shown in quarterly accounting statements. B. the length of an asset’s life when it is issued. C. a technical accounting term that encompasses the conventions, rules, and procedures necessary to define accepted accounting practice at a particular time. D. the price for which something could be bought or sold in a reasonable length of time, where “reasonable length of time” is defined in terms of the item’s liquidity. FIN/571 Corporate Finance Final Exam Progress: (0/57)
10) Preferred stock payment obligations are typically __________. A. viewed like debt obligations. B. issued with a maturity date. C. valued as an annuity. D. none of these
11) Assume that the par value of a bond is \$1,000. Consider a bond where the coupon rate is 9% and the current yield is 10%. Which of the following statements is true? A. The current yield was a lot greater than 9% when the bond was first issued B. The current yield was a lot less than 9% when the bond was first issued C. The market value of the bond is less than \$1,000 D. The market value of the bond is more than \$1,000
12) If the yield to maturity for a bond is less than the bond's coupon rate, then the market value of the bond is __________. A. less than the par value. B. greater than the par value. C. cannot tell D. equal to the par value.
13) According to the CAPM, the expected return for a portfolio is determined by the portfolio's. A. variance. B. beta. C. standard deviation. D. none of these
14) Certain countries have restrictions. In practice, U.S. investors have NOT invested very much internationally. Possible factors include __________. A. lower transaction costs. B. expropriation risk. C. firm-specific risk. D. all of these
15) Certain countries have restrictions. In practice, U.S. investors have NOT invested very much internationally. Possible factors include __________. A. non-listing of foreign securities on U.S. stock exchanges. B. foreign tax considerations. C. efficiency in converting currencies. D. all of these
16) Dimensions of risk include ___________. A. the certainty of a negative outcome B. uncertainty about the future outcome C. uncertainty about yesterday’s outcome D. the impossibility of the same return
17) One problem with using negative values for w1 (the proportion invested in the riskless asset) to represent a borrowed amount is that the implied borrowing rate of interest is the same as __________. A. the current rate of interest B. the prime rate of interest C. the nominal rate of interest D. the lending rate of interest
18) The Principle of __________ implies that the expected return for an asset equals its required return. A. Risk-Return Trade-Off B. Capital Market Efficiency C. Signaling D. Comparative Advantage FIN/571 Corporate Finance Final Exam Progress: (0/57)
19) __________ says to calculate the incremental after-tax cash flows connected with working capital decisions. A. The Principle of Incremental Benefits B. The Signaling Principle C. The Options Principle D. The Principle of Time Value of Money
20) Stony Products has an inventory conversion period (ICP) of about 60.83 days. The receivables collection period (RCP) is 36.50 days. The payables deferral period (PDP) is about 30.42 days. What is Stony's cash conversion cycle (CCC)? A. about 69 days B. about 66 days C. about 67 days D. about 68 days
21) Stony Products has a payables turnover of six times. What is Stony's payables deferral period (PDP)? A. about 30.42 days B. about 56.50 days C. about 60.83 days D. none of these
22) Firms make short-term financial decisions just about every day solving such questions as __________. A. Where should we borrow? B. Where should we invest our cash? C. How much liquidity should we have? D. all of these
23) __________ says to calculate the incremental after-tax cash flows connected with working capital decisions. A. The Options Principle B. The Signaling Principle C. The Principle of Incremental Benefits D. The Principle of Time Value of Money
24) Main sources of short-term funds include __________. A. trade credit and commercial paper B. futures and bank loans C. bonds and trade credit D. none of these
25) Which of the following statements is (are) true? A. The "dating 120" or the "60 extra" mean that the clock does not start until 120 or 60 days after the invoice date. B. Prox or proximate refers to the next month. C. Invoices with "10th prox" must be paid by the 10th of the next month. D. all of these
26) Which (if any) of the following statements is false? A. The invoice is a written statement about goods that were ordered, along with their prices and the payment dates. In other words, the invoice is simply the bill for purchases. B. For the 4/10, net 40 credit terms, you are offering a total credit period of 30 days from the date of the invoice, a discount period of 10 days, and a 4% discount if paid on or before the discount period expires. C. When a firm is using invoice billing, the invoice that accompanies shipment is a separate bill to be paid. D. none of these
27) Most credit sales are made on an open account basis, which means __________. A. that suppliers cannot dictate the terms of the purchase. B. that customers simply purchase what they want. C. that suppliers dictate the terms of the purchase. D. that customers cannot simply purchase what they want. FIN/571 Corporate Finance Final Exam Progress: (0/57)
28) An all-equity-financed firm would __________. A. pay corporate income taxes if its taxable income is positive. B. not pay any income taxes because interest would exactly offset its taxable income. C. pay corporate income taxes because it would have interest expense. D. not pay corporate income taxes because it would have no interest expense.
29) A profitable firm would __________. A. pay corporate income taxes because it would have interest expense. B. pay corporate income taxes because it would not have interest expense. C. pay corporate income taxes if it had a positive taxable income. D. none of these
30) An investor's risky portfolio is made up of individual stocks. Which of the following statements about this portfolio is true? A. Each stock in the portfolio will have a beta greater than one. B. Each stock in the portfolio has its own beta. C. Selling any stock in this portfolio will lower the beta of the portfolio. D. An investor cannot change the risk of this portfolio by her choice about personal leverage (lending or borrowing).
31) Boeing Corporation is a world leader in commercial aircraft. In the face of competition, Boeing often faces a critical __________ decision: whether to develop a new generation of passenger aircraft. A. dividend B. present value C. payback D. capital budgeting
32) The capital budgeting process can be broken down into five steps. These steps include which of the following? A. Generate ideas for capital budgeting projects B. Prepare proposals C. Review existing projects and facilities D. all of these
33) There are two important tax considerations for a capital budgeting project. These include which (if any) of the following? A. It is indeed cash flow that’s irrelevant. B. The standard cash flow estimation does not explicitly identify the financing costs. C. The Principle of Incremental Benefits reminds us that it is the incremental cash flow that’s relevant. D. none of these
34) The __________ method breaks down when evaluating projects in which the sign of the cash flow changes. A. Payback B. NPV C. PI D. IRR

35) Whenever projects are both independent and conventional, then the IRR and NPV methods agree. Which of the following statements is true? A. A mutually exclusive project is one that can be chosen independently of other projects. B. When undertaking one project prevents investing in another project, and vice versa, the projects are said to have a positive payback. C. A conventional project is a project with an initial cash outflow that is followed by one or more expected future cash inflows. D. all of these
36) In practice, the __________ rule is preferred. A. PI B. NPV C. IRR D. Payback FIN/571 Corporate Finance Final Exam Progress: (0/57)
37) Studies show systematic differences in capital structures across industries. These are due mostly to differences in __________. A. accounting practices. B. the firm’s inventory turnover ratio. C. the ability of assets to support borrowing. D. management’s attitude toward what other industries are doing.
38) Studies show systematic differences in capital structures across industries. These are due mostly to differences in the availability of tax shelter provided by things other than debt, such as __________. A. accelerated depreciation. B. operating tax loss carryforwards. C. investment tax credit. D. all of these
39) Studies show systematic differences in capital structures across industries. These are due mostly to differences in __________. A. hiring and firing practices. B. the availability of tax shelter provided by things other than debt, such as accelerated depreciation, investment tax credit, and operating tax loss carryforwards. C. what the arbitrage pricing theory tells us. D. none of these
40) There can be a variety of motives for stock repurchases including __________. A. a buyback of overvalued stock. B. an increase in leverage. C. a decrease in anticipated earnings. D. all of these
41) Some countries have __________ in which shareholders' returns are not fully taxed twice. A. an imputation tax system B. a split tax system C. a two-tier tax system D. none of these
42) There can be a variety of motives for stock repurchases including __________. A. a decrease in leverage. B. a buyback of undervalued stock. C. a decrease in anticipated earnings. D. all of these
43) Mortgage bonds are __________. A. secured by a lien on general assets of the issuer B. secured by a lien on specific assets of the issuer C. usually secured by assets such as common shares of one of the issuer's subsidiaries D. none of these
44) Conditional sales contracts __________. A. are seldom issued to finance the purchase of aircraft B. are similar to equipment trust certificates C. enable the borrower to obtain title to the assets only before it fully repays the debt D. all of these
45) The Time Value of Money Principle says __________. A. to look for the most advantageous ways to finance the firm, such as the lowest-cost debt alternative B. to use discounted cash flow analysis to compare the costs and benefits of financing decisions, such as alternative securities to sell, lease versus borrow and buy, and bond refunding C. to set a price and other terms that investors will find acceptable when issuing securities D. that announcing the firm's decision to issue securities conveys information about the firm
46) __________ says to look for opportunities to develop asset-based financing arrangements that offer new positive-NPV financing mechanisms. A. The Principle of Valuable Ideas B. The Time Value of Money Principle C. The Principle of Self-Interested Behavior D. The Principle of Comparative Advantage
47) The Principle of Self-Interested Behavior says __________. A. to calculate the net advantage of leasing based on the incremental after-tax benefits that leasing will provide. B. to look for profitable opportunities to lease (or rent) an asset, rather than borrow and buy it. C. to use discounted cash flow analysis to compare the costs and benefits of leasing, relative to the alternative of borrowing and buying. D. that leasing transfers the tax benefits of ownership from the lessee to the lessor.
48) __________ says to transfer the tax benefits of ownership to other parties if they are willing to pay for benefits your firm cannot use. A. The Principle of Two-Sided Transactions B. The Principle of Incremental Benefits C. The Principle of Comparative Advantage D. The Capital Market Efficiency Principle FIN/571 Corporate Finance Final Exam Progress: (0/57)
49) The wholesale price for Captain John’s is \$1.00 per loaf, and the variable cost of production is \$0.50 per loaf. Captain John’s is expecting that expansion will allow them to sell an additional 5.0 million loaves in the next year. What additional revenues minus expenses will be generated from expansion? A. \$25,000 B. \$250,000 C. \$550,000 D. none of these
50) The wholesale price for Captain John’s is \$0.612 per loaf, and the variable cost of production is \$0.387 per loaf. Captain John’s is expecting that expansion will allow them to sell an additional 4.5 million loaves in the next five years. What additional revenues minus expenses will be generated from expansion? A. \$1,102,000 B. \$912,500 C. \$1,012,500 D. \$1,000,500
51) The wholesale price for Captain John’s is \$3.00 per loaf. One million loaves will be sold in the next year. What is the contribution margin? A. cannot tell B. \$3.00 C. \$3,000,000 D. \$3,000,000 minus fixed costs
52) Which of the following statements is true? A. Soft capital rationing refers to the rationing imposed externally by limited funds for borrowing from outside sources. B. Hard capital rationing refers to the rationing imposed internally by the firm. C. A post audit is a set of procedures for evaluating a capital budgeting decision after the fact. D. all of these
53) Pursuing valuable ideas is the best way __________. A. to avoid risk. B. to achieve extraordinary returns. C. to restrain your spending. D. to get yourself in trouble.
54) In efficient markets, as in the United States, you should think long and hard before you conclude that a market price is __________. A. wrong. B. fair. C. followed by many analysts. D. all of these
55) __________ says to forecast the firm’s cash flows, and analyze the incremental cash flows of alternative decisions. A. The Principle of Risk-Return Trade-Off B. The Signaling Principle C. The Principle of Incremental Benefits D. The Time Value of Money Principle
56) ___________ says to use both bottom-up and top-down processes to increase the chance of uncovering valuable ideas. A. The Principle of Valuable Ideas B. The Behavioral Principle C. The Principle of Two-Sided Transactions D. The Principle of Comparative Advantage
57) __________ says to use common industry practices as a good starting place for the planning process. A. The Behavioral Principle B. The Principle of Incremental Benefits C. The Principle of Self-Interested Behavior D. The Principle of Valuable Ideas

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### AED2OO WEEK 4 ASSIGNMENT: STUDENT RIGHTS AND TEACHER RESPONSIBILITIES

Explain the responsibilities you have as a teacher in the issue you chose. What are the students' rights? Do you have a responsibility to limit their rights?
· Write a 700-1,050 word paper answering the above questions. Identify the rights and responsibilities you will have as a teacher. How will your responsibilities as a teacher influence the rights of your students? Is it fair to infringe on students' rights for the sake of the learning environment? Why or why not? Describe your own personal experience where a teacher's responsibilities limited the students' rights. How were you involved? Then describe a situation in which the students’ rights might override a teacher's responsibility to maintain a safe learning environment. Format your paper according to
APA guidelines

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### FIN 200 WEEK 9

1) What is the primary goal of financial management?
A.Maximizing cash flow
B.Increased earnings
C.Maximizing shareholder wealth
D.Minimizing risk of the firm

2) Maximization of shareholder wealth is a concept in which
A.virtually all earnings are paid as dividends to common stockholders.
B.increased earnings is of primary importance.
C.optimally increasing the long-term value of the firm is emphasized.
D.profits are maximized on a quarterly basis.

A.lawyers, investment bankers, and others buy common stock in companies represented by their firms.
B.someone has information not available to the public which they use to profit from trading in stocks.
C.any stock transactions occur in violation of the Federal Trade Commissions restrictions on monopolies.
D.corporate officers buy stock in their company.

4) Which of the following is an inflow of cash?
A.the sale of the firm's bonds
B.funds spent in normal business operations
C.the retirement of the firm's bonds
D.the purchase of a new factory

5) The statement of cash flows does NOT include which of the following sections?
A.cash flows from investing activities
B.cash flows from operating activities
C.cash flows from financing activities
D.cash flows from sales activities

6) An increase in investments in long-term securities will:
A.increase cash flow from financing activities.
B.increase cash flow from investing activities.
C.decrease cash flow from financing activities.
D.decrease cash flow from investing activities

7) In examining the liquidity ratios, the primary emphasis is the firm's
A.ability to pay short-term obligations on time.
B.ability to effectively employ its resources.
C.ability to earn an adequate return.
D.overall debt position.

8) If a firm has both interest expense and lease payments,
A.times interest earned will be the same as fixed charge coverage.
B.times interest earned will be smaller than fixed charge coverage.
C.fixed charge coverage cannot be computed.
D.times interest earned will be greater than fixed charge coverage.

9) The most rigorous test of a firm's ability to pay its short-term obligations is its
A.debt-to-assets ratio.
B.current ratio.
C.times-interest-earned ratio.
D.quick ratio.

10)   Refer to the figure above. The firm's inventory turnover ratio is
A.2.7x.
B.10x.
C.0.1x.
D.8x.

11) A firm's long term assets = \$75,000, total assets = \$200,000, inventory = \$25,000 and current liabilities = \$50,000.
A.current ratio = 1.5; quick ratio = 2.0
B.current ratio = 0.5; quick ratio = 1.5
C.current ratio = 2.5; quick ratio = 2.0
D.current ratio = 1.0; quick ratio = 2.0

12) A firm has current assets of \$75,000 and total assets of \$375,000. The firm's sales are \$900,000. The firm's fixed asset turnover is
A.2.4x
B.3.0x
C.12.0x
D.5.0x

13) In order to estimate production requirements, we
A.add beginning inventory to desired ending inventory and divide by two.
B.add beginning inventory to projected sales in units and subtract desired ending inventory.
C.add beginning inventory to desired ending inventory and subtract projected sales in units.
D.add projected sales in units to desired ending inventory and subtract beginning inventory.

14) The percent-of-sales method of financial forecasting
A.provides a month-to-month breakdown of data.
B.assumes that balance sheet accounts maintain a constant relationship to sales.
C.is more detailed than a cash budget approach.
D.requires more time than a cash budget approach.

15) In the percent-of-sales method, an increase in dividends
B.has no effect on required new funds.
C.will increase required new funds.
D.will decrease required new funds.

16) The key initial element in developing pro forma statements is
A.a collections schedule.
B.a sales forecast.
C.an income statement.
D.a cash budget.

17) A firm has beginning inventory of 300 units at a cost of \$11 each. Production during the period was 650 units at \$12 each. If sales were 700 units, what is the cost of goods sold (assume FIFO)?
A.\$8,100
B.\$7,700
C.\$8,000
D.\$9,000

18) The pro forma income statement is important to the overall process of constructing pro forma statements because it allows us to determine a value for:

19) The concept of operating leverage involves the use of __________ to magnify returns at high levels of operation.

20) When a firm employs no debt

21) Under which of the following conditions could the overuse of financial leverage be detrimental to the firm?

22) The break-even point can be calculated as

23) A firm's break-even point will rise if

24) In break-even analysis, the contribution margin is defined as

25) A conservatively financed firm would

26) During tight money periods

27) When the yield curve is upward sloping, generally a financial manager should:

28) Which of the following combinations of asset structures and financing patterns is likely to create the most volatile earnings?

29) An aggressive working capital policy would have which of following characteristics?

30) Which of the following is not a condition under which a prudent manager would accept some risk in financing?

31) "Float" takes place because

32) Which of the following is not a valid reason for holding cash?

33) The system whereby funds are moved between computer terminals without use of checks is

34) When developing a credit scoring report, many variables would be considered. Which of the following best represent the major factors Dun & Bradstreet would examine?

35) The three primary policy variables to consider when extending credit include all of the following except

36) Variables important to credit scoring models include

37) What is generally the largest source of short-term credit small firms?

38) Commercial paper that is sold without going through a broker or dealer is known as

39) Which of the following is not a method for lenders to control pledged inventory?

40) Which method of controlling pledged inventory provides the greatest degree of security to the lender?

41) A large manufacturing firm has been selling on a 3/10, net 30 basis. The firm changes its credit terms to 2/20, net 90. What change might be expected on the balance sheets of its customers?

42) Trade credit may be used to finance a major part of the firm's working capital when

43) As the compounding rate becomes lower and lower, the future value of inflows approaches

44) An annuity may be defined as

45) Increasing the number of periods will increase all of the following except

46) John Doeber borrowed \$125,000 to buy a house. His loan cost was 11% and he promised to repay the loan in 15 equal annual payments. How much are the annual payments?

47) Mr. Blochirt is creating a college investment fund for his daughter. He will put in \$850 per year for the next 15 years and expects to earn an 8% annual rate of return. How much money will his daughter have when she starts college?

48) If you were to put \$1,000 in the bank at 6% interest each year for the next ten years, which table would you use to find the ending balance in your account?

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### ASSIGNMENT 5

Evaluate whether the following statements are True or False, and explain your answer: a. A trade deficit occurs when the government spends more than it receives in tax revenue b. An increase in interest rates in the rest of the world will lead to a stronger dollar

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### Kelly pitney began her consulting business

Kelly pitney began her consulting business, Kelly Consulting, on April 1, 2010. The accounting cylcle for Kelly Consulting for April , including financial statements was illistrated on page 157-168. During May, kelly consulting entered the following transactions:
May 3. Received cash from clients as an advance payment for services to be provided and recorded it as unearned fees, \$2,500.
5. Received cash from clients on account, \$1,750.
13. Paid office station company for part of the debt incurred on april 5, \$400.
15. Recorded services provided on account for the period May 1-15, \$6,100.
16. paid part-time receptionist for two weeks' salary including the amount owed on April 30, \$750.
17. Recorded cash from cash clients for fees earned during the period May 1-16, \$8,200.
20. Purchased supplies on account, \$400
21. Recorded services provided on account for the period May 16-20, \$3,900.
25. Recorded cash from cash clients for fees earned for the period May 17-23, \$5,100.
27. Recieved cash from clients on account, \$9,500.
28. Paid part-time receptionist for two weeks salary, \$750.
30. Paid telephone bill for May, \$120.
31. Paid electricity bill for May \$290.
31. Recorded cash from cash clients for fees earned for the period May 26-31, \$3,875.
31. Recorded services provided on account for the remainder of May, \$3,200.
31. Kelly withdrew \$8,000 for personal use.

Pg. 158 Chart of Accounts:
April 1. The following assets were recieved from Kelly Pitney: Cash, \$13,100; Accounts receivable, \$3,000; Supplies, \$1,400; and office equipment, \$12,500. there were no liabilities recieved.
1. Paid three months rent on a lease rental contract, \$4,800.
2. Paid the premiums on property and casualty insurance policies, \$1,800.
4. Recieved cash from clients as an advance payment for services to be provided and recorded it as unearned fees, \$5,000.
5. Purchased additional office equipment on account from Office Station Co., \$2,000.
6. Recieved cash from clients on account, \$1,800.
12. paid Office Station Co. for part of the debt incurred on April 5, \$1,200.
12. Recorded services provided on account for the period April 1-12, \$4,200.
14. Paid part-time receptionist for two weeks' salary, \$750.
17. Recorded cash from cash clients for fees earned during the period April 1-16, \$6,250.
18. Paid cash for supplies, \$800.
20. Recorded services provided on account for the period April 13-20, \$2,100.
24. Recorded cash from cash clients for fees earned for the period April 17-24, \$3,850.
26. Recieved cash from clients on account, \$5,600.
27. Paid part-time receptionist for two weeks' salary, \$750.
29. Paid telephone bill for April, \$130.
30. paid electricity bill for April, \$200.
30. Recorded cash from clients for fees earned for the period April 25-30, \$3,050.
30. Recorded services provided on account for the remainder of April, \$1,500.
30. kelly withdrew \$6,000 for personal use.

Pg. 166 Post-closing trial balance
Debit Credit
cash................................22,100
Accounts receivable.......3,400
Supplies...........................1,350
Prepaid rent......................3,200
Prepaid insurance.............1,500
office equipment...............14,500
Accumualted depreciation.. 330
Accounts payable.............. 800
Salaries Payable.............. 120
Unearned Fees................ 2,500
kelly pitney, Capital.......... 42,300
46,050 46,050

Instructions:
1. The chart of accounts for Kelly Consulting is shown on page 158, and the post-closing trail balance as of April 30, 2010 is shown on page 166. For each account in the post-closing trial balance, enter the balance in the appropriate balance column of a four column account. Date the balances May 1, 2010, and place a check mark in the posting referece column. Journalize each of the May transactions in a two column journal using Kelly Consulting's chart of accounts. (do not insert the account numbers in the journal at this time.)
2. Post the journal to a ledger of four-column accounts.
3. Prepare an unadjusted trail balance
4. At the end of May, the following adjustment data were assembled. Analyze and use these data to complete parts 5 and 6.
a. Insurance expired during May is \$300.
b. Supplies on hand on May 31 are \$600.
c. Depreciation of office equipment for May is \$330.
d. Accrued receptionist salary on May 31 is \$240.
e. Rent expired during May is \$1,600.
f. Unearned fees on May 31 are \$2,000
6. Journalize and post the adjusting entries.
8. Prepare an income statement, a statement of owner's equity, and a balance sheet.
9. Prepare and post the closing entries. (Income summary is account #33 in the chart of accounts.) Indicate closed accounts by inserting a line in both the Balance columns opposite the closing entry.
10. Prepare a post-closing trial balance

Book Used:
Elementary Accounting: Custom for badm 101
by Carl S. Warren/James M. Reeve/ Jonathan E. Duchac.

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### YOUTHFUL OFFENDER

The implications—for the youthful offender—of the trend toward increasing the use of waivers or remanding juveniles to adult court for processing.

300 words need

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### Guillermo Furniture Store Analysis

Guillermo Furniture Store Analysis

• Resource: The Guillermo Furniture Store Scenario or your own organization, with the approval of your facilitator
• Write a paper in no more than 1,750 words that focuses on the analysis of different alternatives available to Guillermo. Include a sensitivity analysis.
• Determine the optimal weighted average cost of capital and discuss the use of multiple valuation techniques in reducing risks.
• Calculate net present value of future cash flows for each of the alternatives