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FIN 515 Week 4 Midterm

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FIN 515 Week 4 Midterm

1. (TCO A) Which of the following statements is CORRECT?

- It is generally more expensive to form a proprietorship than a corporation because, with a proprietorship, extensive legal documents are required……………

2. (TCO G) Which of the following statements is CORRECT? 

- In the statement of cash flows, a decrease in accounts receivable is reported as a use of cash………….

3. (TCO G) LeCompte Corp. has $312,900 of assets, and it uses only common equity capital (zero debt). Its sales for the last year were $620,000, ………..

4. (TCO B) You want to buy a new sports car three years from now, and you plan to save $4,200 per year, beginning one year from today. You will ………..

5. (TCO B) You sold a car and accepted a note with the following cash flow stream as your payment. What was the effective price you received ………

6. (TCO B) Suppose you borrowed $14,000 at a rate of 10.0% and must repay it in five equal installments at the end of each of the next five years. …….

7. (TCO D) A 15-year bond with a face value of $1,000 currently sells for $850. Which of the following statements is CORRECT?.......... 

8. (TCO D) Garvin Enterprises’ bonds currently sell for $1,150. They have a six-year maturity, an annual coupon of $85, and a par value of $1,000. What is their current yield? ………..

9. (TCO C) Niendorf Corporation's five-year bonds yield 6.75%, and five-year T-bonds yield 4.80%. The real risk-free rate is r* = 2.75%, ………… 

10. (TCO C) Assume that to cool off the economy and decrease expectations for inflation, the Federal Reserve tightened the money supply, …………..

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