최신 BEC 무료덤프 - AICPA CPA Business Environment and Concepts
Karen Parker wants to establish an environmental testing company that would specialize in evaluating the
quality of water found in rivers and streams. However, Parker has discovered that she needs either
certification or approval from five separate local and state government agencies before she can
commence business. Also, the necessary equipment to begin would cost several million dollars.
However, Parker believes that if she is able to obtain capital resources, she can gain market share from
the two major competitors.
The large capital outlay necessary for the equipment is an example of a(n):
quality of water found in rivers and streams. However, Parker has discovered that she needs either
certification or approval from five separate local and state government agencies before she can
commence business. Also, the necessary equipment to begin would cost several million dollars.
However, Parker believes that if she is able to obtain capital resources, she can gain market share from
the two major competitors.
The large capital outlay necessary for the equipment is an example of a(n):
정답: B
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Willis, Inc. has a cost of capital of 15 percent and is considering the acquisition of a new machine, which
costs $400,000 and has a useful life of five years. Willis projects that earnings and cash flow will increase
as follows.
What is the payback period of this investment?
costs $400,000 and has a useful life of five years. Willis projects that earnings and cash flow will increase
as follows.
What is the payback period of this investment?
정답: A
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Select Co. had the following 1994 financial statement relationships:
Asset turnover 5
Profit margin on sales 0.02
What was Select's 1994 percentage return on assets?
Asset turnover 5
Profit margin on sales 0.02
What was Select's 1994 percentage return on assets?
정답: D
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Considering the SCOR Model of supply chain operations, which of the following key management
processes does collecting and processing vendor payments fall into?
processes does collecting and processing vendor payments fall into?
정답: A
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Vested, Inc. made some changes in operations and provided the following information:
What percentage represents the return on investment for year 3?
What percentage represents the return on investment for year 3?
정답: B
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Which of the following statements regarding competitive advantage is not true?
정답: C
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The following selected data pertain to the Darwin Division of Beagle Co. for 1994:
What was Darwin's 1994 residual income?
What was Darwin's 1994 residual income?
정답: B
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White, Grey, and Fox formed a limited partnership. White is the general partner and Grey and Fox are the
limited partners. Each agreed to contribute $200,000. Grey and Fox each contributed $200,000 in cash
while White contributed $150,000 in cash and $50,000 worth of services already rendered. After two
years, the partnership is insolvent. The fair market value of the assets of the partnership is $150,000 and
the liabilities total $275,000. The partners have made no withdrawals.
Unless otherwise provided in the certificate of limited partnership, which of the following is correct if Fox
assigns her interest in the partnership to Barr and only White consents to Barr's admission as a limited
partner?
limited partners. Each agreed to contribute $200,000. Grey and Fox each contributed $200,000 in cash
while White contributed $150,000 in cash and $50,000 worth of services already rendered. After two
years, the partnership is insolvent. The fair market value of the assets of the partnership is $150,000 and
the liabilities total $275,000. The partners have made no withdrawals.
Unless otherwise provided in the certificate of limited partnership, which of the following is correct if Fox
assigns her interest in the partnership to Barr and only White consents to Barr's admission as a limited
partner?
정답: A
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Additional Data
. The long-term debt was originally issued at par ($1,000/bond) and is currently trading at $1,250 per bond.
. Martin Corporation can now issue debt at 150 basis points over U.S. treasury bonds.
. The current risk-free rate (U.S. treasury bonds) is 7 percent.
. Martin's common stock is currently selling at $32 per share.
. The expected market return is currently 15 percent.
. The beta value for Martin is 1.25.
. Martin's effective corporate income tax rate is 40 percent.
Using the Capital Asset Pricing Model (CAPM), Corporation's current cost of common equity is:
정답: A
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Which of the following activities is considered a support activity?
정답: B
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The theory underlying the cost of capital is primarily concerned with the cost of:
정답: A
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Lisa is a limited partner in a limited partnership. Jen, one of the other limited partners, is seeking to sell
her interest in the partnership to Karen and allow Karen to become a new limited partner. Which of the
following statements is true?
her interest in the partnership to Karen and allow Karen to become a new limited partner. Which of the
following statements is true?
정답: D
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If a product's demand is elastic and there is a decrease in price, the effect will be:
정답: B
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Which one of the following would not be considered a carrying cost associated with inventory?
정답: C
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The following information applies to Brandon Company.
Forty percent of purchases are paid for in cash at the time of purchase, and 30 percent is paid for in each
of the next two months. Purchases for the previous November and December were $150,000 per month.
Payroll is 10 percent of sales in the month it occurs, and operating expenses are 20 percent of the
following months sales (July sales were $220,000). Interest payments were $20,000 paid quarterly in
January and April. Brandon's cash disbursements for the month of April were:
Forty percent of purchases are paid for in cash at the time of purchase, and 30 percent is paid for in each
of the next two months. Purchases for the previous November and December were $150,000 per month.
Payroll is 10 percent of sales in the month it occurs, and operating expenses are 20 percent of the
following months sales (July sales were $220,000). Interest payments were $20,000 paid quarterly in
January and April. Brandon's cash disbursements for the month of April were:
정답: C
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The capital budgeting model that is generally considered the best model for long-range decision making is
the:
the:
정답: B
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Which of the following actions is the acknowledged preventive measure for a period of deflation?
정답: B
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Considering the SCOR Model of supply chain operations, which of the following key management
processes does implementing changes in engineering fall into?
processes does implementing changes in engineering fall into?
정답: C
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