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Test Bank for Corporate Finance 2024 13th Edition By Stephen RossJeffrey Jaffe, Bradford Jordan , Randolph Westerfield, €27,94
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Test Bank for Corporate Finance 2024 13th Edition By Stephen RossJeffrey Jaffe, Bradford Jordan , Randolph Westerfield,
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Test Bank for Corporate Finance 2024 13th Edition By Stephen RossJeffrey Jaffe, Bradford Jordan , Randolph Westerfield,

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  • 8 augustus 2024
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Test Bank for Corporate Finance 2024 13th
Edition By Stephen RossJeffrey Jaffe, Bradford
Jordan , Randolph Westerfield,


Which one of the following statements is correct if a firm has a receivables turnover of
10?

A. It takes the firm 10 days to collect payment from its customers.
B. It takes the firm 36.5 days to sell its inventory and collect the payment from the sale.
C. It takes the firm an average of 36.5 days to sell its items.
D. The firm collects on its sales in an average of 36.5 days.
E. The firm has ten times more in accounts receivable than it does in cash. - D

A capital intensity ratio of 1.03 means a firm has $1.03 in:

A. total debt for every $1 in equity.
B. equity for every $1 in total debt.
C. sales for every $1 in total assets.
D. total assets for every $1 in sales.
E. long-term assets for every $1 in short-term assets. - D

Puffy's Pastries generates five cents of net income for every $1 in equity. Thus, Puffy's
has _______ of 5 percent.

A. a return on assets
B. a profit margin
C. a return on equity
D. an EV multiple
E. a price-earnings ratio - C

If a firm produces a return on assets of 15 percent and also a return on equity of 15
percent, then the firm:

A. has no debt of any kind.
B. is using its assets as efficiently as possible.
C. has no net working capital.
D. also has a current ratio of 15.
E. has an equity multiplier of 2. - A

,If stockholders want to know how much profit the firm is making on their entire
investment in that firm, the stockholders should refer to the:

A. profit margin.
B. return on assets.
C. return on equity.
D. equity multiplier.
E. earnings per share. - C

Assume BGL Enterprises increases its operating efficiency by lowering its costs while
holding its sales constant. As a result, given all else constant, the:

A. return on equity will increase.
B. return on assets will decrease.
C. profit margin will decline.
D. equity multiplier will decrease.
E. price-earnings ratio will increase. - A

Joe's has old, fully depreciated equipment. Moe's just purchased all new equipment
which will be depreciated over eight years. If Joe's and Moe's have the same sales,
costs, tax rate, and enterprise value, then:

A. Joe's will have a lower profit margin.
B. Joe's will have a lower return on equity.
C. Moe's will have a higher net income.
D. Moe's and Joe's will have the same EV multiple.
E. Moe's will have a lower EV multiple. - D

Last year, Alfred's Automotive had a price-earnings ratio of 15 and earnings per share
of $1.20. This year, the price earnings ratio is 18 and the earnings per share is $1.20.
Based on this information, it can be stated with certainty that:

A. the price per share decreased.
B. the earnings per share decreased.
C. investors are paying a lower price per share this year as compared to last year.
D. investors are receiving a higher rate of return this year.
E. the investors' outlook for the firm has improved. - E

Turner's Inc. has a price-earnings ratio of 16. Alfred's Co. has a price-earnings ratio of
19. Thus, you can state with certainty that one share of stock in Alfred's:

A. has a higher market price than one share of stock in Turner's.
B. has a higher market price per dollar of earnings than does one share of Turner's.
C. sells at a lower price per share than one share of Turner's.
D. represents a larger percentage of firm ownership than does one share of Turner's
stock.

, E. earns a greater profit per share than does one share of Turner's stock. - B

Which one of the following is most apt to cause a firm to have a higher price-earnings
ratio?

A. slow industry outlook
B. very low current earnings
C. low market share
D. low prospect of firm growth
E. low investor opinion of firm - B

Vinnie's Motors has a market-to-book ratio of 3.4. The book value per share is $34 and
earnings per share are $1.36. Holding the market-to-book ratio and earnings per share
constant, a $1 increase in the book value per share will:

A. decrease the price-earnings ratio.
B. decrease the EV multiple.
C. decrease the market price per share.
D. increase the price-earnings ratio.
E. increase the return on equity. - D

Which one of the following sets of ratios would generally be of the most interest to
stockholders?

A. return on assets and profit margin
B. quick ratio and times interest earned
C. price-earnings ratio and debt-equity ratio
D. return on equity and price-earnings ratio
E. cash coverage ratio and equity multiplier - D

The DuPont identity can be computed as:

A. Net income × Profit margin × (1 + Debt-equity ratio).
B. Profit margin × (1 / Capital intensity) × (1 + Debt-equity ratio).
C. Net income × Total asset turnover × Equity multiplier.
D. Profit margin × Total asset turnover × Debt-equity ratio.
E. Return on equity × Profit margin × Total asset turnover. - B

If a firm decreases its operating costs, all else constant, then the:

A. profit margin will decrease.
B. return on assets will decrease.
C. total asset turnover rate will increase.
D. cash coverage ratio will decrease.
E. price-earnings ratio will decrease. - E

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