单选题In 2004, Torrence Co. had a beginning inventory ors 19924 and made purchases of $15923. If the ending inventory level was $19204, what was the Cost of Goods Sold for year 2004?
单选题A company has a long-term "take or pay" commitment with its major supplier. When calculating the company's financial ratios, a financial analyst should: A. ignore the arrangement. B. add the present value of the minimum future commitment to the company's debt only. C. add the present value of the minimum future commitment to both the company's debt and assets.
单选题A firm is purchasing a new file server for $ 680000, with a 4-year
expected life and a salvage value of $ 50000. It is expected that the new server
will generate an additional $ 200000 in revenue each year. The firm will use the
straight line method to depreciate the server for financial reporting, but the
sum-of-year' s digits (SYD) method for tax purposes. The tax rate is 35 percent.
What will be the accumulated deferred tax liability at the end of the second
year?
A. $11025.
B. $ 3850.
C. $ 44100.
单选题What is the effective annual yield of a T - bill that has a money market yield of 5. 665 percent and 255 days to maturity?
单选题In the futures market, a contract does not trade for two days because trades are not permitted at the equilibrium price. The market for this contract is:
单选题Under U. S. GAAP, which statement is correct? A. Purchased patent and copyright costs are not expensed. B. Advertising costs are not expensed when incurred. C. Goodwill cannot be recognized and capitalized in a purchase transaction.
单选题Which of the following statements about theories of the yield curve is most likely correct?
单选题BIM Technologies Inc. is a large firm in a competitive industry. The company has above-average investment opportunities and its return on investments has been above the company's required rate of return. In addition, BIM has invested heavily in fixed assets and technology to reduce its production costs. The company has also increased its advertising budget substantially to establish a strong brand image for its products. From the above description, BIM is best characterized as a A. cyclical company that follows a low-cost strategy. B. speculative company that follows a differentiation strategy. C. growth company that follows a defensive competitive strategy.
单选题Falcon Financial Group is considering the purchase of Company A or Company B based on a low price-to-book investment strategy that also considers differences in solvency. Selected financial data for both firms, as of December 31, 20×7, follows:
单选题An investor purchases the bonds of JLD Corp
单选题The short-run supply curve for a firm under perfect competition（ ）
单选题Selected information from Caledonia, Inc.'s financial activities in the year 2006 was as follows: Net Income was $ 460000. 2300000 shares of common stock were outstanding on January 1. The average market price per share was $ 2 and the year-end stock price was $1.50. 1000 shares of 8 percent, $1000 par value preferred shares were outstanding on January 1. Dividends were paid in 2006. 10000 warrants, each of which allows the holder to purchase 100 shares of common stock at an exercise price of $1.50 per common share, were outstanding the entire year. Caledonia's Diluted earnings per share (Diluted EPS) for 2006 was closest to:
单选题A distribution that has positive excess kurtosis: A. is more peaked than a normal distribution. B. is less peaked than a normal distribution. C. has thinner tails than a normal distribution.
单选题In regulating a natural monopoly, the most commonly adopted pricing rule by a regulator is the:
单选题An analyst does research about market efficiency. Which of the following statements does not support the weak form efficient market hypothesis? Investors can earn abnormal profits by : A. using fundamental analysis to purchase the securities. B. using no public information to purchase the securities. C. using technical analysis strategies to purchase the securities.
单选题Sweet Milk Inc uses the LIFO inventory method and had 5000 units of
beginning inventory on January 1,2002, that was valued at $10.00 a unit. The
company purchased 50000 units at $12 a unit and sold 52000 units at $15 a
unit. Sweet Milk is considering an additional purchase of 10000 units at
$13 a unit. The company will make the purchase at the end of December or in the
early part of year 2003. Which statement about the effect of the purchase
decision on net income is most accurate?
A. Making the purchase in December will increase income by $16000 in year
2002.
B. Income for year 2002 will not be affected no matter when the inventory is
purchased.
C. Postponing the purchase until January will increase income for 2002 by
$14000.
单选题U.S. farmers have become concerned that the future supply of wheat production will exceed demand. Any hedging activity to sell forward would most likely protect against which market condition?
单选题The CAPM is an: A. equilibrium model that predicts the expected return on a stock given the expected return on the market and the stock's correlation coefficient. B. equilibrium model that predicts the expected return on a stock given the expected return on the market and the stock's covariance. C. equilibrium model that predicts the expected return on a stock given the expected return on the market and the stock's beta coefficient.
单选题The current price of a bond is $128.3. If interest rate change by 4%,
the value of the bond price changes by $2.7 correspondingly. What is the
duration of the bond?
A. 0.53
B. 1.27
C. 2.48
单选题Which of these embedded options most likely benefits the investor?