ÔN TẬP CUỐI KỲ 30 câu trắc nghiệm và 2 câu tự luận LTTC VÀ TCDN
ĐỀ 8 (Quiz 3)
Phần 1. Trắc nghiệm
1. ABC has the beginning accounts receivable balance is $75,534 and the ending
accounts receivable balance is $76,209. It takes 44.24 days to collect its
receivables. What is the sales? (Assume the year has 365 days)
a/ $613,000
b/ $536,000
c/ $716,000
d/ $626,000
2. Given the following data: Earnings per share = $5; Dividends per share = $3; Price
per share = $50. Calculate the payout ratio:
a/ 10%
b/ 60%
c/ 5%
d/ 40%
3. Given the following data: Earnings per share = $7; Dividends per share = $3; Price
per share = $49, calculate the P/E ratio:
a/ 25
b/ 16.7
c/ 7
d/ 10
4. Given the following data: Sales = 3200; Cost of good sold = 1600; Average
receivables = 200, calculate the average collection period:
a/ 137
b/ 24.3
c/ 22.8
d/ 32.5
5. Given the following data: Sales = 3200; Cost of goods sold = 1600; Average total
assets = 1600; Average inventory = 200, calculate the days in inventory:
a/ 22.8
b/ 18.3
c/ 45.6
d/ 37.4
6. Given the following data: EBIT = 500; Net Income = 200; Average Equity = 2,000,
calculate the ROE (Return on Equity):
a/ 12%
b/ 10%
c/ 7.5%
d/ 25%
7. Given the following data: Sales = 3200; Cost of goods sold = 1600; Average total
assets = 1600; Average inventory = 200, calculate the asset turnover ratio:
a/ 1.33
ÔN TẬP CUỐI KỲ 30 câu trắc nghiệm và 2 câu tự luận LTTC VÀ TCDN
b/ 0.9375
c/ 2.0
d/ 0.5
8. Given the following data: Current assets = 500; Current liabilities = 250; Inventory
= 200; Account receivables = 200; calculate the quick ratio:
a/ 0.5
b/ 1.0
c/ 2.0
d/ 1.2
9. Given the following data: EBIT = 100; Depreciation = 40; Interest = 20; Dividends
= 10; calculate the Times Interest Earned (TIE) ratio.
a/ 4.7
b/ 5.0
c/ 7.0
d/ 14.0
10. Given the following data: Long term debt = 100; Value of leases = 20; Book value
of equity = 80; Market value of equity = 100, calculate the debt-equity ratio.
a/ 1.0
b/ 0.50
c/ 0.60
d/ 1.50
11. Given the following data: Long term debt = 100; Value of leases = 20; Book value
of equity = 80; Market value of equity = 100, calculate the debt ratio.
a/ 0.50
b/ 0.56
c/ 0.60
d/ 0.55
12. If the debt ratio is 0.5 what is the debt-equity ratio? (assume no leases)
a/ 2.0
b/ 0.5
c/ 1.0
d/ 4.0
13. Which measure would be most useful in comparing the operating profitability of
two firms in different industries?
a/ Return on assets
b/ Net profit margin
c/ Return on equity
d/ Sales to total assets
14. Which of the following is an example of leverage ratios?
a/ Debt-Equity ratio
b/ Quick ratio
c/ Payout ratio
d/ Return on equity
ÔN TẬP CUỐI KỲ 30 câu trắc nghiệm và 2 câu tự luận LTTC VÀ TCDN
15. When a firm improves (lowers) its average collection period it generally:
a/ A firm cannot reduce its inventories
b/ Requires additional cash investment in inventory
c/ Does not alter its cash position
d/ Releases cash locked up in accounts receivables
16. When a firm improves (lowers) its days in inventories it generally:
a/ Requires additional cash investment in inventory
b/ Releases cash locked up in inventory
c/ Does not alter its cash position
d/ A firm cannot reduce its inventories
17. Given a book value per share of $5 and a market value of $12, what is the market
value added of a firm with 2,000,000 outstanding shares?
a/ $10,000,000
b/ $1,000,000
c/ $$14,000,000
d/ $24,000,000
18. Market value ratios indicate:
I) How productively is the firm utilizing its assets.
II) How liquid is the firm.
III) How profitable is the firm.
IV) How highly is the firm valued by the investors.
a/ IV only
b/ I only
c/ II only
d/ II and III only
19. Profitability ratios indicate:
I) How productively is the firm utilizing its assets.
II) How liquid is the firm.
III) How profitable is the firm.
IV) How highly is the firm valued by the investors.
a/ II only
b/ I only
c/ III only
d/ III and IV only
20. Efficiency ratios indicate:
I) How productively is the firm utilizing its assets.
II) How liquid is the firm.
III) How profitable is the firm.
IV) How highly is the firm valued by investors.
a/ II only
b/ I only
c/ III only
d/ III and IV only
ÔN TẬP CUỐI KỲ 30 câu trắc nghiệm và 2 câu tự luận LTTC VÀ TCDN
21. Assets are listed on the balance sheet in order of:
I) Decreasing liquidity
II) Decreasing size
III) Increasing size
IV) Relative life
a/ II only
b/ III and IV only
c/ I only
d/ IV only
22. Doctors-On-Call, a newly formed medical group, just paid a dividend of $.50 a
share. The dividends are expected to increase by 20 percent a year for the next
two years and then increase by 3 percent annually thereafter. What is the current
value of a share if the appropriate discount rate is 12 percent?
a/ $7.68
b/ $6.91
c/ $8.26
d/ $8.42
23. Felix Pet Foods plans to pay an annual dividend of $.75 next year, increase the
dividend by 12 percent for the following three years, and then increase the dividend
by 2 percent annually thereafter. The required rate of return is 12.5 percent. What
is this stock worth per share today?
a/ $7.05
b/ $12.95
c/ $9.04
d/ $8.03
24. BBB just paid an annual dividend of 4,900 VND a share. The firm plans to increase
its dividend by 10 percent a year for the next two years and then decrease the
growth rate to 5 percent annually. If the required rate of return is 12 percent, what
is one share of this stock worth today? (Approximately)
a/ 80,437.50 VND
b/ 68,076.25 VND
c/ 92,000.00 VND
d/ 107,611.75 VND
25. Generally, investors interpret the announcement of an increase in dividends as:
a/ bad news and the stock price drops
b/ good news and the stock price increases
c/ a non-event and does not affect the stock price
d/ very bad news and the stock price plunges
26. Mr. William expects to retire in 25 years and would like to accumulate $1 million in
the pension fund. If the annual interest rate is 12% per year, how much should Mr.
Williams put into the pension fund each month in order to achieve his goal?
Assume that Mr. Williams will deposit the same amount each month into his
pension fund and also use monthly compounding.
ÔN TẬP CUỐI KỲ 30 câu trắc nghiệm và 2 câu tự luận LTTC VÀ TCDN
a/ $771.60
b/ $532.24
c/ $345.30
d/ $286.13
27. You would like to have enough money saved to receive a growing annuity for 25
years, growing at a rate of 4% per year, the first payment being $60,000 after
retirement, so that you and your family can lead a good life. How much would you
need to save in your retirement fund to achieve this goal? (assume that the growing
perpetuity payments start one year from the date of your retirement. The interest
rate is 12%)?
a/ $632,390
b/ $1,500,000
c/ $452,165
d/ None of the answers are correct
28. The managers of a firm can maximize stockholder wealth by:
a/ All of the answers are correct
b/ Taking all projects with NPVs greater than the cost of investment
c/ Taking all projects with NPVs greater than present value of cash flow
d/ Taking all projects with positive NPVs
29. Investment at a 15% effective rate compounded semiannually is equal to a nominal
(annual) rate of:
a/ 14.48%
b/ 12.68%
c/ 7.5%
d/ 17.6%
30. Ms. Colonial has just taken out a $1,750,000 mortgage at an interest rate of 8%
per year. If the mortgage calls for equal monthly payments for twenty years, what
is the amount of each payment? (Assume monthly compounding or discounting.)
a/ $12,633.06
b/ $16,250.37
c/ $14,637.70
d/ $13,540.70
Phần 2. Tự luận
Question 1: (1.25 scores)
Burnside's has accounts receivable of $33,700, inventory of $54,200, sales of $364,200,
and cost of goods sold of $193,400. How long does it take the firm to sell its inventory and
collect payment on the sale?
Question 2: (2.75 scores)
Balance Sheet
Assets 2019 2018
ÔN TẬP CUỐI KỲ 30 câu trắc nghiệm và 2 câu tự luận LTTC VÀ TCDN
Current assets
Cash and marketable securities 661 530
Accounts receivable 166 247
Inventories 8,209 7,611
Other current assets 215 298
Total current assets 9,251 8,686
Fixed assets
Tangible fixed assets
Property, plant, and equipment 31,477 28,836
Less accumulated depreciation 8,755 7,475
Net tangible fixed assets 22,722 21,361
Long term investments 253 509
Other long-term assets 460 313
Total assets 32,686 30,869
Liabilities and Shareholders' Equity 2018 2017
Current liabilities
Debt due for repayment 1,021 1,104
Accounts payable 4,543 4,137
Other current liabilities 2,458 2,510
Total current liabilities 8,022 7,751
Long term debt 5,039 5,576
Deferred income taxes 660 670
Other long-term liabilities 910 774
Total liabilities 14,631 14,771
Common Stock and other paid-in-capital 735 729
Retained earnings and capital surplus 17,320 15,369
Total shareholders' equity 18,055 16,098
Total liabilities and shareholders' 32,686 30,869
equity
Income Statement 2019
Net sales 48,230
Cost of goods sold 31,729
Selling, general, and administrative 11,158
expenses
Depreciation 1,539
Earnings before interest and taxes (EBIT) ?
ÔN TẬP CUỐI KỲ 30 câu trắc nghiệm và 2 câu tự luận LTTC VÀ TCDN
Interest expense 298
Earnings before taxes (EBT) ?
Tax (20%) ?
Net Income ?
Dividends (30%) ?
Addition to retained earnings (70%) ?
Look up the latest financial statement for a company:
a. Fill in the blank (?) of Income statement (1.5 scores).
b. Calculate the following financial ratios of year - 2019:
• Return on asset (ROA), return on equity (ROE) (0.5 score)
• Current ratio, quick ratio (0.5 score)
• Cash cycle (Average Days in Inventory, Average collection period, Average
payment period) (0.25 score)
