单选题 {{B}}Based on the following information to answer questions：{{/B}} BWT, Inc. shows the following data in its financial statements at the end of the year. Assume all securities were outstanding at the beginning of the year: 6.125% convertible bonds, convertible into 33 shares of common stock. Issue price $1000100 bonds outstanding. 6.25% convertible preferred stock, $100 par, 2315 shares outstanding. Convertible into 3.3 shares of common stock, Issue price $100. 8% convertible preferred stock, $100 par, 2572 shares outstanding. Convertible into 5 common shares, Issue price $ 80. 9986 warrants are outstanding with an exercise price of $ 38. Each warrant is convertible into 1 share of common. Average market price of common is $ 52.00 per share. Common shares outstanding at the beginning of the year were 40045. Net income for the period was $ 200000 while the tax rate was 40%.

单选题A company currently has sales of 1,200 thousand and it makes the following forecasts for the next year: Sales growth next year: 10% Cost of goods sold as a proportion of sales: 75% Salary, general, and administrative expenses as a proportion of sales: 10% The expected gross profit for next year (in thousands) is closest to:

单选题A competitive firm will tend to expand its output as long as: A. its marginal revenue is positive. B. the market price is greater than the marginal cost. C. its marginal revenue is greater than the market price.

单选题An analyst gathered the following data about a company: Current liabilities are $ 300. Total debt is $ 900. Working capital is $ 200. Capital expenditures are $ 250. Total assets are $ 2000. Cash flow from operations is $ 400. If the company would like a current ratio of 2, they could :

单选题Hedge funds usually have a(n): Focus on relative returns? Option-like fee structure? A. No No B. No Yes C. Yes No

单选题In general, as compared to companies with operating leases, companies with capital leases report : A. lower working capital and asset turnover. B. lower cash flow from operations, higher cash flow from financing. C. higher debt to equity and return on equity ratios (in the early years)

单选题The advantages to an investor owning convertible preference shares of a company most likely include:

单选题An analyst does research about different types of funds. Which ofthe following is least likely to hold an in-kind creation and redemption process? A. Closed-end funds. B. Grantor trusts. C. Managed investment companies.

单选题The owner of a company has recently decided to raise the salary of one employee, who was already making the highest salary in the company, by 40 percent. Which of the following value (s) is (are) expected to be affected by this raise?

单选题An analyst does research about methods of distributing new government securities. Which of the following is the regular way for U. S. government to issue U. S. Treasury securities? A. Tap method. B. Regular auction cycle/single price method. C. Regular auction cycle/multiple price method.

单选题An analyst does research about net present value and gathers the following information about three capital budgeting projects (in $ thousands): Project Initial Outlay Cash Flow Year 1 Cash Flow Year 2 Cash Flow Year 3 1 150000 70000 90000 40000 2 125000 -50000 90000 195000 3 200000 90000 -30000 250000 Which projects has the highest internal rate of return? A. Project 1. B. Project 2. C. Project 3.

单选题The Baker Company uses the LIFO inventory valuation method and reported its inventory at $ 200000 and its COGS at $ 500000. The company' s LIFO reserve increased from $ 5000 to $ 30000 during the year. What amounts would the company report if it were to use the FIFO method? Ending Inventory COGS ①A. $170000 $ 525000 ②B. $ 230000 $ 475000 ③C. $170000 $475000

单选题To comply with Standard Ⅳ (B) , Additional Compensation Arrangements, members should do all of the following EXCEPT: A. immediately make a written report to their employer specifying any compensation benefits they receive. B. immediately make a written report of any services they expect to receive. C. reject any outside compensation immediately because it is not appropriate to accept outside compensation in a business setting.

单选题Based on best practices in corporate governance procedures, it is most appropriate for a companys compensation committee to:

单选题Cash collection is a critical event for income recognition under the: Cost-Recovery Method Installment Method ①A. No Yes ②B. No No ③C. Yes Yes

单选题An analyst doesresearch about closely-held companies. With respect to valuation of closely-held companies, the most appropriate base for estimating a discount for lack of liquidity is the: A. market price of a similar but actively publicly traded company. B. Estimate of the value of equitywith all control rights. C. mean value of the company's transaction prices recently.

单选题An investor deposits $ 4000 in an account that pays 7.5 percent, compounded annually. How much will this investment be worth after 12 years? A. $ 9358. B. $ 7600. C. $ 9527.

单选题The price of product Z decreased from $ 2.50 per unit to 2.00 per unit. Since the price decreased, demand has gone up from 3 million units to 4 million units. Calculate the price elasticity of demand and determine if the demand is elastic or inelastic. Price elasticity of demand Elasticity A. -1.29 elastic B. -2.00 inelastic C. -1.29 inelastic

单选题When the underlying stock price is $95, an investor pays $2 for a call option with an exercise price of $95. If the stock price moves to $96, the intrinsic value of the call option would be:

单选题Which of the following statements about capitalizing and expensing costs is least accurate? A. Companies that capitalize costs will have lower debt-to-asset and debt-to-equity ratios than expensing companies. B. Companies that expense costs will show the same total cash flows as the capitalizing firm but show higher early year profitability. C. Companies that capitalize costs and depreciate them over time will show smoother reported income than expensing companies.