fin320r1week1selfassesmentquestions - c Agency problem d...

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FIN/320 Self-Assessment Questions Week One : Overview of Finance and Financial Performance 1. The goal of financial management is the maximization of the current value of existing stock. True False 2. The income statement measures financial performance over an established period of time. True False 3. A _____________ is a business owned by one person. a. Corporation b. Sole Proprietorship c. Partnership d. Limited liability company e. None of the above 4. The prospect of a conflict of interests between the management and the owners of a firm is known as the ___________ a. Franchise contract b. Stakeholder disagreement contract
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Unformatted text preview: c. Agency problem d. Partnership agreement e. Shareholders’ equity 5. The balance sheet shows a. What a firms owes b. What a firm owns c. The difference between what a firm owns and owes d. All of the above e. None of the above 6. Which of the following is not a basic financial statement: a. Income statement b. Balance sheet c. Statement of cash flows d. Statement of retained earnings e. Revenue statement 7. What is the current ratio of a firm that has current assets totaling $2 million and current liabilities totaling $1.5 million? a. 0.5 b. 1.0 c. 1.3 d. 1.5 e. 3.5...
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