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1. A business partner whose potential financial loss in the partnership can exceed his or her investment in that partnership is called a: A. general partner. B. sole proprietor. C. limited partner. D. corporate shareholder. E. zero partner.

2. Which one of the following terms is defined as a conflict of interest between the corporate shareholders and the corporate managers? A. conflict of interest between the corporate shareholders and the regulatory authorities B. conflict of interest between the corporate shareholders and the corporate managers C. conflict of interest between the corporate managers and employees D. conflict of interest between the corporate shareholders and competitors E. conflict of interest between corporate shareholders

3. Which of the following questions are addressed by financial managers? I. How should a product be marketed? II. Should customers be given 30 or 45 days to pay for their credit purchases? III. Should the firm borrow more money? IV. Should the firm acquire new equipment? A. I and IV only B. II and III only C. II, III, and IV only KOPPELMAN SCHOOL OF BUSINESS DEPARTMENT OF FINANCE BROOKLYN COLLEGE CITY UNIVERSITY OF NEW YORK FINC 3310 CORPORATE FINANCE TEST 1 SPRING 2019 ONE HOUR Page 2 of 12 D. I, II, and III only E. I, II, III, and IV

4. Which of the following individuals have limited liability based on their ownership interest? I. general partner II. sole proprietor III. stockholder IV. limited partner A. II only B. I and II only C. III and IV only D. I, II, and III only E. I, II, and IV only

5. Public offerings of debt and equity must be registered with which one of the following? A. New York Board of Governors B. Federal Reserve C. NYSE Registration Office D. Securities and Exchange Commission E. Market Dealers Exchange

6. Which one of the following statements concerning net working capital is correct? A. The lower the value of net working capital the greater the ability of a firm to meet its current obligations. B. An increase in net working capital must also increase current assets. KOPPELMAN SCHOOL OF BUSINESS DEPARTMENT OF FINANCE BROOKLYN COLLEGE CITY UNIVERSITY OF NEW YORK FINC 3310 CORPORATE FINANCE TEST 1 SPRING 2019 ONE HOUR Page 3 of 12 C. Net working capital decreases when payables increase. D. Firms with equal amounts of net working capital are also equally liquid. E. Net working capital is a part of the operating cash flow.

7. A firm has net working capital of $700. Long-term debt is $4,180, total assets are $6,230, and fixed assets are $3,910. What is the amount of the total liabilities? A. $2,050 B. $5,800 C. $4,130 D. $5,590 E. $5,250

8. Crandall Oil has total sales of $1,349,800 and costs of $903,500. Depreciation is $42,700 and the tax rate is 21 percent. The firm does not have any interest expense. What is the operating cash flow? A. $129,152 B. $171,852 C. $361,544 D. $281,417 E. $300,900

9. At the beginning of the year, the long-term debt of a firm was $72,918 and total debt was $138,407. At the end of the year, long-term debt was $68,219 and total debt was $145,838. The interest paid was $6,430. What is the amount of the cash flow to creditors? A. -$18,348 B. -$1,001 C. $11,129 D. $13,861 E. $19,172

10. What is the cash flow from assets for 2018? A. $897 B. $1,083 C. $798 D. $807 E. $1,980

11. Which of the following ratios are measures of a firm's liquidity? I. Current ratio II. interval measure III. debt-equity ratio IV. quick ratio A. I and III only B. II and IV only C. I, III, and IV only D. I, II, and III only E. I, II, III, and IV

12. The most acceptable methods of evaluating the financial statements of a firm is to compare the firm's current: A. financial ratios to peer group averages and to the firm's historical ratios. B. financial statements to the financial statements of similar firms operating in other countries and to market ratios. C. financial ratios to the average ratios of all firms located within the same geographic area and those outside that area D. financial statements to those of larger firms in unrelated industries and market ratios. E. financial statements to the projections that were created based on Tobin's Q.

13. Reliable Cars has sales of $807,200, total assets of $1,105,100, and a profit margin of 9.68 percent. The firm has a total debt ratio of 78 percent. What is the return on equity? A. 13.09 percent B. 16.67 percent C. 17.68 percent D. 28.56 percent E. 32.14 percent

DARDEN RESTAURANTS INC 2017-05 2018-05 Revenue 7,170 8,080 Less COGS 5,601 6,335 Less Operating expenses 900 975 EBIT 669 770 Less Interest expense 42 162 Taxable Income 627 608 Provision for income taxes 155 2 Net income 472 606 Depreciation & amortization 273 313 Current assets 800 554 Current liabilities 1,289 1,384 Long-term liabilities (Debt) 2,113 1,890 Net fixed assets 4,704 4,916 Common stock (Equity) 2,102 2,195 Receivables 43 40 Accounts payable 250 277 Inventories 179 205

14. Calculate days in account receivables and days in accounts payable respectively for 2018 A. 1.81 and

15.96 B. 2.19 and 16.29 C. 1.70 and 20.32 D. 15.90 and 1.80 E. 16.30 and 2.20 15. Calculate cash coverage and debt-equity ratios respectively for 2018. A. 6.69 and 1.49 B. 6.19 and 1.29 C. 1.50 and 6.70 D. 1.30 and 6.20 E. 16.30 and 2.20

16. Which one of the following terms is applied to the financial planning method which uses the projected sales level as the basis for determining changes in balance sheet and income statement account values? A. percentage of sales method B. sales dilution method C. sales reconciliation method D. common-size method E. trend method

17. You are developing a financial plan for a corporation. Which of the following questions will be considered as you develop this plan? I. How much net working capital will be needed? II. Will additional fixed assets be required? III. Will dividends be paid to shareholders? IV. How much new debt must be obtained? A. I and IV only B. II and III only C. I, III, and IV only D. I, II, III, and IV E. II, III, and IV only

18. Which one of the following will increase the maximum rate of growth a corporation can achieve? A. Increase in dividend payout ratio B. increase in corporate tax rates C. reduction in the retention ratio D. external debt financing E. decrease in sales given a positive profit margin

19. Wagner Industrial Motors, which is currently operating at full capacity, has sales of $29,000, current assets of $1,600, current liabilities of $1,200, net fixed assets of $27,500, and a 7 percent profit margin. The firm has no long-term debt and does not plan on acquiring any. The firm does not pay any dividends. Sales are expected to increase by 4.0 percent next year. If all assets, short-term liabilities, and costs vary directly with sales, how much additional equity financing is required for next year? A. -$859.15 B. -$201.19 C. -$995.20 D. -$1,099.08 E. $1,215.25