BFIN 300 Midterm Exam Questions With
Solutions
Which of the following forms of business organization is subject to double taxation?
A. Corporation
B. Partnership
C. Limited Partnership
D. Sole Proprietorship A. Corporation
Control of the firm ultimately rests with
A. CEO
B. SEC
C. Stockh...
Which of the following forms of business organization is subject to double taxation?
A. Corporation
B. Partnership
C. Limited Partnership
D. Sole Proprietorship A. Corporation
Control of the firm ultimately rests with
A. CEO
B. SEC
C. Stockholders
D. Founder C. Stockholders
Which of the following should a financial manager take into account when considering an
opportunity?
A. How much cash they expect to receive
B. When will they receive the funds
C. How likely they are to receive the funds
, BFIN 300 Midterm Exam Questions With
Solutions
D. All of the above D. All of the above
Balance Sheet Formula Assets = Liabilities + Stockholders' Equity
Income Statement Formula Net Income = Revenue - Expenses
Cash Flow Statement Formula Source of Funds - Use of Funds
ABC Corporation has current assets of $5,200, fixed assets of $26,000, current liabilities of
$4,900, and long-term debt of $15,000. What is the ABC Corporation's total equity? What is the
NWC of ABC Corporation?
A. Total Equity $11,000; NWC $11,300
B. Total Equity $11,300; NWC $300
C. Total Equity $11,000; NWC $300
D. Total Equity $11,300; NWC $11,000 B. Total Equity $11,300; NWC $300
XYZ Corporation's balance sheet of 2019 showed net fixed assets of $1.56 mil, and the 2020
balance sheet showed net fixed assets of $1.78 mil. The company's 2020 income statement
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