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Miami University Finance 301 Final Exam Questions With Correct Answers

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Miami University Finance 301 Final Exam Questions With Correct Answers Spontaneously generated funds are generally defined as follows: a: Funds that a firm must raise externally through borrowing or by selling new common or preferred stock. b: Funds that arise out of normal business operations...

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©SIRJOEL EXAM SOLUTIONS
12/3/2024 11:27AM

Miami University Finance 301 Final Exam
Questions With Correct Answers

Spontaneously generated funds are generally defined as follows:

a: Funds that a firm must raise externally through borrowing or by selling new common or

preferred stock.

b: Funds that arise out of normal business operations from its suppliers, employees, and the

government, and they include spontaneous increases in accounts payable and accruals.

c: Assets required per dollar of sales.

d: The amount of cash raised in a given year minus the amount of cash needed to finance the

additional capital expenditures and working capital needed to support the firm's growth.

, ©SIRJOEL EXAM SOLUTIONS
12/3/2024 11:27AM

e: A forecasting approach in which the forecasted percentage of sales for each item is held

constant. - answer✔b: funds that arise out of normal business operations from its supplier4s,

employees, and the government, and they include spontaneous increases in accounts payable and

accruals

Last year Wei Guan Inc. had $275 million of sales, and it had $270 million of fixed assets that

were used at 65% of capacity. In millions, by how much could Wei Guan's sales increase before

it is required to increase its fixed assets?

a: 148.08

b: 159.92

c: 115.50

d: 137.71

e: 155.48 - answer✔a: 148.08

Sales at full capacity = Actual Sales/ % of Capacity Used

= 275,000,000/.65

=423,076,923.1

, ©SIRJOEL EXAM SOLUTIONS
12/3/2024 11:27AM

Full capacity sales-actual sales

= 423,076,923.1-275,000,000 = 148.08mil

Samuelson's has a debt-equity ratio of 20 percent sales of $5,000, net income $600, and total

debt of $3,200. What is the return on equity?

a: 18.75

b: 2.00

c: 12.00

d: 3.13

e: 3.75 - answer✔e: 3.75

Return of Equity = net income/total common equity

Debt equity ratio = 0.2

Sales = $5,000

Net income = $600

Total Debt = 3200

, ©SIRJOEL EXAM SOLUTIONS
12/3/2024 11:27AM

Total equity = total debt/debt-equity ratio

Total equity = 16,000

ROE = 600/16,000

ROE = 3.75%

Working capital management decisions include determining:

a: the number of employees needed to work during a particular shift.

b: the best method of producing a product.

c: if a competitor should be acquired.

d: when to replace obsolete equipment.

e: the minimum level of cash to be kept in a checking account. - answer✔e: the minimum level

of cash to be kept in a checking account

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