FNAN522-1SP11-M4_Answer_Key - ANSWER KEY Midterm 4 Advanced...

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1 ANSWER KEY Midterm 4 Advanced Financial Management and Policy FNAN522-1SP11 Moody Hall, Room 130 Thursday, April 14, 2011 3:00 P.M. to 4:00 P.M. 80 Points Total 60 Minutes 16 Questions All questions are worth 5 points. Please read the following instructions first: DO NOT TURN OVER THIS PAGE UNTIL YOU ARE INSTRUCTED TO DO SO. Write your name, the date, and the subject on the bubble sheet. Only answers that are clearly recorded on the bubble sheet will counted towards you mark. There is only one correct answer per question. You may only give one answer per question. It is strongly recommended that you bubble your responses clearly in pencil. This will allow you to erase answers if you change your mind. Nevertheless, unclear or multiple marks on a single question will result in no points. No credit will be given for scrap work. Partial credit will NOT be given. Hand in your bubble sheet to the instructor when you are finished. You will NOT be allowed back into the test room once you leave.
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2 Multiple Choice Questions Instructions: To answer these questions, bubble in the letter that corresponds with the best answer for each question on you answer key. 1. A bankrupt firm while being in the process of developing a reorganization plan is allowed to buy goods on credit and borrow money to finance needed working capital. Such an arrangement is called: A. Debtor-in-possession debt B. Junior creditors C. Workout D. Receiver p. 840 2. The following statements are true of partnership agreements: I) The partnership agreement has a limited term, 10 years or less. II) The general partners get a management fee plus carried interest in 20% of any profits
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FNAN522-1SP11-M4_Answer_Key - ANSWER KEY Midterm 4 Advanced...

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