FIN571 Week 6 Final Exam SCORE 97 PERCENT.docx - FIN571...

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FIN571 Week 6 Final Exam SCORE 97 PERCENTResource: Question 1Which one of these is a correct definition?Long-term debt is defined as a residual claim on a firm's assets.Tangible assets are fixed assets such as patents.Current assets are assets with short lives, such as inventory.Current liabilities are debts that must be repaid in 18 months or less.Net working capital equals current assets plus current liabilities.
Question 2The primary goal of financial management is to:
Question 3Which one of the following statements about preferred stock is true?
Question 4A firm has a total debt ratio of .47. This means the firm has 47 cents in debt for every:
Question 5The higher the inventory turnover, the:Lesser the amount of inventory held by a firm.Greater the amount of inventory held by a firm.Less time inventory items remain on the shelf.Higher the inventory as a percentage of total assets.Longer it takes a firm to sell its inventory.

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