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Companies can use free cash flow to_________.

Select one:

a. acquire property, plant, and equipment.

b. pay additional dividends.

c. pay off debts.

d. All of the above.

The preferred shares of Crane Industries are expected to pay a $10 dividend forever, starting from the end of this year, if the required rate of return on equivalent investments is 9%, a share of Crane Industries preferred stock should be worth_______.

Select one:

a. $140.20.

b. $124.60.

c. $90.50.

d. $111.10.

On average, ABC Inc. collects accounts receivable 12 times during a year, what is the average collection period of ABC Inc., in days?

Select one:

a. 33.2 days.

b. 30.4 days.

c. 28.1 days.

d. 36.5 days.

Which of the following is an example of financial intermediation?

Select one:

a. A bank extends a mortgage loan to a household.

b. A woman opening a new business borrows funds from her uncle.

c. An Internet company issues stock by selling shares directly to buyers.

d. A professor purchases shares of stock directly from a corporation.

The amount an investor will have in 10 years if $1000 is invested today at a continuously compounded rate of 7%, will be closest to________.

Select one:

a. $2,038.

b. $2,014.

c. $2,060.

d. $2,044.

Which of the following least likely explains the ordinary annuity as a series of cash flows_________.

Select one:

a. with the same amount.

b. with equal intervals.

c. at the end of each period.

d. for a fixed time period.

How much should be invested today at 8% interest compounded quarterly to accumulate $10,000 five years from today? The amount that must be invested today is closest to________.

Select one:

a. $6,910.

b. $6,210.

c. $6,840.

Which of the following net income adjustment is least likely when estimating cash flow from operation using the indirect method?

Select one:

a. Deduct gains and add losses that resulted from investing and financing activities.

b. Add back cash expenses.

c. Deduct a decrease and add an increase in the current noncash liabilities.

d. Deduct an increase and add a decrease in the current noncash assets.

An investment is expected to produce the cash flows of $100, $200, and $300 at the end of the next three years, if the required rate of return is 10%, the present value of this investment is closest to_____.

Select one:

a. $475.83.

b. $481.59.

c. $495.01.

d. $456.65.

Which of the following is least likely valid for Secondary Market (or Exchange)?

Select one:

a. It has a centralized trading platform.

b. Trading on this market occurs during the scheduled trading hours.

c. This market physically exists.

d. The unlisted stocks trade on this market.