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BUSN 5200 Homework Assignment for Week 1: Each week you will have a set of homework problems to complete. They are due by the following Sunday night at 11:55 pm, central time. For Week 1, please turn in the answers to the following questions: 1. Describe the field of finance. How is it different from the field of accounting? 2. In a typical corporation the finance function is divided into two divisions, or departments. What are they? What does each department do? 3. What are the three forms of business generally encountered in the US? What are the main defining characteristics of each? 4. What is the basic financial goal of a business? 5. In the context of a corporation seeking to maximize the wealth of its owners, how is \"wealth\" defined? 6. What are the three main factors affecting the market price of a corporation's stock? 7. What's wrong (if anything) with saying the basic financial goal of a business is to \"maximize profits?\" 8. How would you state the basic goal of a non-profit firm? 9. The Internet company Google managed to avoid $2 billion in international income taxes in 2011 by moving a hefty sum of its revenues to subsidiaries in Bermuda, according to CNBC, which cited a report by Bloomberg.1 The search giant reportedly stashed $9.8 billion in revenues to its shell company in Bermuda which doesn't have a corporate income tax last year allowing the company to shave its overall tax rate by almost 50 percent. Google's Bermuda move was disclosed in a Nov. 21 filing by a subsidiary in the Netherlands. While the company's move to shift funds to the country was legal, it could spur the growing global criticism of corporate tax avoidance. What do you think? Is Google's action ethical? Why or why not? 10. What is \"the agency problem?\" 1 http://www.cnbc.com/id/100296831/Google_Avoided_2_Billion_in_Taxes_by_Stashing_Money_in_Bermuda_Repo rt Case Study Tasks: 1. Refer to the Case Study topic lecture on the Week 1 Content page. Locate the information needed for the Cover Page of your case study report on the Internet. Using that information, complete the Cover Page and submit it on the appropriate case study assignment page. Note that your Cover Page should contain: The name of the company The address of the company's corporate headquarters, the stock ticker symbol and the stock exchange where the stock is traded. The company's phone number Your name Notes: - Assignments that are submitted after the deadline will be assessed a late penalty unless it has been cleared with your instructor beforehand or the situation was beyond your control. Contact your instructor ASAP if it appears you are going to submit an assignment late. - Please put all the questions and problems in one file before you submit the assignment for grading. Do not do the questions in Word and the problems in Excel and submit two files, for example. It is too hard for your instructor to keep track of the files when more than one is submitted. - If your answer to a homework problem involves mathematical calculations, please show the calculations. If you are doing the assignment in Excel no extra effort is required because your instructor can see the formulas you used, but if you are doing the assignment in Word you should write out the calculations manually. Showing your calculations is necessary in order for your instructor to give you any partial credit if you make a mistake and come up with the wrong