Which of the following is a responsibility of a financial manager?

Asked by bizgrad
Dated: 20th Apr'17 01:30 PM
Bounty offered: $13.00

Quiz 1 week 3

Top of Form

Note: It is recommended that you save your response as you complete each question.

Question 1 (1 point)

Question 1 unsaved

Which of the following is a responsibility of a financial manager?

Question 1 options:

All of these answers

Managing the budget.

Figuring out financial projections and whether a project is worth financing.

Ensuring the business has enough cash to pay its financial obligations.

Bottom of Form

Question 2 (1 point)

Question 2 unsaved

Which of the following should you consider when choosing an organizational structure for a business?

Question 2 options:

The standardization of tasks.

All of these answers.

The type of product or service the business provides.

The legal requirements your business must meet.

Question 3 (1 point)

Question 3 unsaved

Which of the following is NOT a step in constructing a multi-step income statement?

Question 3 options:

Subtract operating expenses from gross profit to determine income from operations.

Subtract income tax expense from income before taxes.

Add all revenues, then subtract all expenses.

Subtract non-operating expenses from income from operations.

Question 4 (1 point)

Question 4 unsaved

Which of the following is the correct definition of the accounting equation?

Question 4 options:

Liabilities = Assets + Owner's Equity

Assets = Liabilities + Initial Owner's Equity

Owner's Equity = Assets + Liabilities

Assets = Liabilities + Owner's Equity

Question 5 (1 point)

Question 5 unsaved

Which of the following is NOT a correct way of calculating a liquidity ratio?

Question 5 options:

Quick Ratio = (Current Asset - Inventories - Prepayments) / Current Liabilities

Operating Cash Flow Ratio = Current Liabilities / Operating Cash Flow

Current Ratio = Total Current Assets / Total Current Liabilities

Liquidity Ratio = Liquid Assets / Short-term Liabilities

Question 6 (1 point)

Question 6 unsaved

Which of the following is used to calculate the debt to equity ratio?

Question 6 options:

Debt / (Debt + Equity)

Debt / (Assets - Debt)

Interest-Bearing Long-Term Debt / Equity

(Assets - Equity) / Debt

Question 7 (1 point)

Question 7 unsaved

Which of the following is NOT information used to calculate an asset's book value?

Question 7 options:

The current market price of the asset.

The total amount of depreciation, amortization, and impairment costs made against the asset.

The price of the asset when it was acquired.

The costs associated with originally acquiring the asset, such as broker fees.

Question 8 (1 point)

Question 8 unsaved

Which of the following is NOT a component of the Cash Flow Statement?

Question 8 options:

Cash Flow from Operations

Cash Flow from Sales

Cash Flow from Financing

Cash Flow from Investing

Question 9 (1 point)

Question 9 unsaved

A company had $5,000,000 in total revenues for its fiscal year. Its expenses for the year were $3,500,000. Its total assets were $12,500,000. What is the company's return on assets for the fiscal year?

Question 9 options:

.28

0.12

.70

.40

Question 10 (1 point)

Question 10 unsaved

A business begins its fiscal year with $10,000,000 in total assets. During the year it has net sales revenue of $45,000,000. At the end of the year it has $8,000,000 in total assets. What is its total assets turnover ratio?

Question 10 options:

2.5

4.5

5

5.62518

Question 11 (1 point)

Question 11 unsaved

A company has $100,00 in cash, $300,000 in accounts receivable, $50,000 in inventory and a $300,000 office building. Its current liabilities are $250,000. What is the company's current ratio, and does that ratio good short-term financial strength?

Question 11 options:

The current ratio is 1.8, and the ratio indicates good short-term financial strength.

The current ratio is 1.8, and the ratio indicates poor short-term financial strength.

The current ratio is 3, and the ratio indicates poor short-term financial strength.

The current ratio is 3, and the ratio indicates good short-term financial strength.

Question 12 (1 point)

Question 12 unsaved

Suppose that a public corporation has a total market value (according to its stock price and number of shares outstanding) of $500 million. If its current net income is $10 per share and it has 1 million shares outstanding, what is the value of its P/E ratio?

Question 12 options:

500

50

10

100

Question 13 (1 point)

Question 13 unsaved

Which of the following statements correctly defines a component of Cost of Goods Sold?

Question 13 options:

Labor costs are the wages paid to employees who spend their time working directly on the product.

All overhead costs are associated with production activities.

All of these answers.

Parts, Raw Materials, and supplies used are all physical objects that go into making a good.

Question 14 (1 point)

Question 14 unsaved

A company wants to have $5 million in sales with $1 million in profit. It will have fixed costs of $3 million. Each unit of its product sells for $20. How much contribution per unit must the company have to meet its goals?

Question 14 options:

$1.60

$16

$0.79

$8

Question 15 (1 point)

Question 15 unsaved

A company wants to increase the amount of time in its disbursement cycle. Which of the following is a valid way to do that?

Question 15 options:

Mail payment to suppliers for contractual obligations.

All of these answers.

Pay for purchases using checks.

Use credit cards as often as possible.

Which of the following is a responsibility of a financial manager?
Answered by bizgrad
Expert Rating: 2122 Ratings
Dated: 20th Apr'17 01:30 PM
5 words and 1 attachment(s).
Tutorial Rating: Not Rated
Sold 0 times.
(preview of the tutorial; some sections have been intentionally blurred)
…Please…

attachments

FINC331-Quiz1-week3.docx (78.22 KB)
Preview of FINC331-Quiz1-week3.docx
ratio     short-term   strength Question     point) Suppose       corporation   a total     (according       price   number of     of       its   net income     per       has   million shares     is       its   ratio?Question 12     (1       following   correctly defines     of       Sold?Question   options:Labor costs     wages       who   their time     on       overhead   are associated     activities       answers   Raw Materials,     used       objects   go into     good       point) A   wants to     million       $1   in profit     have       $3   Each unit     product