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saint leo mba570 quiz 1 (january 10, 2014)




Question;1.The distinguishing feature of a corporation is that: (Points: 10) there is no legal difference between the corporation and its is a legally defined, artificial being, separate from its spreads liability for its corporate obligations to all provides limited liability only to small shareholders.Question 2.2.Which of the following is/are an advantage of incorporation? (Points: 10) Access to capital marketsLimited liabilityUnlimited lifeAll of the aboveQuestion 3.3.If shareholders are unhappy with a CEO's performance, they are most likely to: (Points: 10) buy more shares in an effort to gain control of the firm.file a shareholder resolution.replace the CEO through a grassroots shareholder uprising.sell their shares.Question 4.4.If XYZ stock has an ask price of $26.00 and a bid price of $25.93, how much would you have to pay to purchase 100 shares of XYZ stock? (Points: 10) $2,520$2,525$2,593$2,600Question 5.5.U.S. public companies are required to file their annual financial statements with the U.S. Securities and Exchange Commission on which form? (Points: 10) 10-A10-K10-Q10-SECQuestion 6.6.On the balance sheet, short-term debt appears: (Points: 10) in the Stockholders' Equity the Operating Expenses the Current Assets the Current Liabilities section.Question 7.7.If ECE's stock is currently trading at $24.00 and ECE has 25 million shares outstanding and $100 million in shareholder equity, then ECE's market-to-book ratio is closest to __________. (Points: 10) 244630Question 8.8.Which of the following statements regarding the income statement is incorrect? (Points: 10) The income statement shows the earnings and expenses at a given point in time.The income statement shows the flow of earnings and expenses generated by the firm between two dates.The last or "bottom" line of the income statement shows the firm's net income.The first line of an income statement lists the revenues from the sales of products or services.Question 9.9.Off-balance sheet transactions are required to be disclosed: (Points: 10) in the management discussion and the auditor's the Securities and Exchange Commission's the statement of stockholders' equity.Question 10.10.ECE has $200 million in assets, $100 million in shareholder equity, and sales of $300. If ECE's return on assets (ROA) is 12%, then ECE's net income is __________. (Points: 10) $6 million$12 million$24 million$36 million


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