F09_midterm - York University Economics 4400A, Midterm...

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York University Economics 4400A, Midterm Examination October 29, 2009 Instructions. Write your name and student number at the top of this page. Answer four out of six questions below. Each question answered is worth 10 points, the total is 40 points.Be clear what formulas you use to arrive at a solution, the actual numerical answers are not important. If you think a question is ambiguous or not enough information is provided to answer it, explain why.You have 75 minutes. 1. A B C Current Assets 450 130 Long-Term Assets 450 500 Total Assets 1,000 Current Liabilities 100 300 100 Long-Term Liabilities 250 Shareholders Equity 200 240 Total Liabilities and SE 500 (a) Determine the missing balance-sheet amounts in the table. Use reverse page if space is insu¢ cient. (b) What is the di/erence between a tangible and intangible asset? Give one example of each. (c) De&ne the current ratio. Is it good if a &rm±s current ratio equals 0 : 5 be better o/ if the ratio was 1 : 5 ? What about 15 ? Explain. 1
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2. Consider a world with two periods, 0 and 1. You are a consumer facing income stream ( c 0 ; c 1 ) = (50 ; 55) .
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F09_midterm - York University Economics 4400A, Midterm...

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