최신 BEC 무료덤프 - AICPA CPA Business Environment and Concepts
Acorn and Bean were general partners in a farm machinery business. Acorn contracted, on behalf of the
partnership, to purchase 10 tractors from Cobb Corp. Unknown to Cobb, Acorn was not authorized by the
partnership agreement to make such contracts. Bean refused to allow the partnership to accept delivery
of the tractors and Cobb sought to enforce the contract. Cobb will:
partnership, to purchase 10 tractors from Cobb Corp. Unknown to Cobb, Acorn was not authorized by the
partnership agreement to make such contracts. Bean refused to allow the partnership to accept delivery
of the tractors and Cobb sought to enforce the contract. Cobb will:
정답: C
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DQZ Telecom is considering a project for the coming year, which will cost $50 million. DQZ plans to use
the following combination of debt and equity to finance the investment.
. Issue $15 million of 20-year bonds at a price of 101, with a coupon rate of 8 percent, and flotation costs
of 2 percent of par.
. Use $35 million of funds generated from earnings.
The equity market is expected to earn 12 percent. U.S. treasury bonds are currently yielding 5 percent.
The beta coefficient for DQZ is estimated to be .60. DQZ is subject to an effective corporate income tax
rate of 40 percent.
The before-tax cost of DQZ's planned debt financing, net of flotation costs, in the first year is:
the following combination of debt and equity to finance the investment.
. Issue $15 million of 20-year bonds at a price of 101, with a coupon rate of 8 percent, and flotation costs
of 2 percent of par.
. Use $35 million of funds generated from earnings.
The equity market is expected to earn 12 percent. U.S. treasury bonds are currently yielding 5 percent.
The beta coefficient for DQZ is estimated to be .60. DQZ is subject to an effective corporate income tax
rate of 40 percent.
The before-tax cost of DQZ's planned debt financing, net of flotation costs, in the first year is:
정답: A
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An example of an indirect cash flow effect would be:
정답: B
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Universal Industries limits its operations to exports to foreign countries. What can be said about
Universal's exposures to exchange rate risk?
Universal's exposures to exchange rate risk?
정답: C
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When employing the MACRS method of depreciation in a capital budgeting decision, the use of MACRS
as compared to the straight-line method of depreciation will result in:
as compared to the straight-line method of depreciation will result in:
정답: D
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In any competitive market, an equal increase in both demand and supply can be expected to always:
정답: B
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Datacomp Industries, which has no current debt, has a beta of .95 for its common stock. Management is
considering a change in the capital structure to 30% debt and 70% equity. This change would increase
the beta on the stock to 1.05, and the after-tax cost of debt will be 7.5%. The expected return on equity is
1 6%, and the risk-free rate is 6%. Should Datacomp's management proceed with the capital structure
change?
considering a change in the capital structure to 30% debt and 70% equity. This change would increase
the beta on the stock to 1.05, and the after-tax cost of debt will be 7.5%. The expected return on equity is
1 6%, and the risk-free rate is 6%. Should Datacomp's management proceed with the capital structure
change?
정답: A
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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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What is the effect when a foreign competitor's currency becomes weaker compared to the U.S. dollar?
정답: D
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A depreciation tax shield is:
정답: B
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The optimal level of inventory would be affected by all of the following, except the:
정답: D
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The term underwriting spread refers to the:
정답: C
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Considering the SCOR Model of supply chain operations, which of the following key management
processes does assessing the ability of the suppliers to supply resources fall into?
processes does assessing the ability of the suppliers to supply resources fall into?
정답: B
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When do cost leadership strategies fail?
정답: A
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Frictional unemployment refers to unemployment resulting from:
정답: D
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Kore Industries is analyzing a capital investment proposal for new equipment to produce a product over
the next eight years. The analyst is attempting to determine the appropriate "end-of-life" cash flows for the
analysis. At the end of eight years, the equipment must be removed from the plant and will have a net
book value of zero, a tax basis of $75,000, a cost to remove of $40,000, and scrap salvage value of
$ 10,000. Kore's effective tax rate is 40 percent. What is the appropriate "end-of-life" cash flow related to
these items that should be used in the analysis?
the next eight years. The analyst is attempting to determine the appropriate "end-of-life" cash flows for the
analysis. At the end of eight years, the equipment must be removed from the plant and will have a net
book value of zero, a tax basis of $75,000, a cost to remove of $40,000, and scrap salvage value of
$ 10,000. Kore's effective tax rate is 40 percent. What is the appropriate "end-of-life" cash flow related to
these items that should be used in the analysis?
정답: C
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Amicable Wireless, Inc. offers credit terms of 2/10, net 30 for its customers. Sixty percent of Amicable's
customers take the 2% discount and pay on day 10. The remainder of Amicable's customers pay on day
3 0. How many days' sales are in Amicable's accounts receivable?
customers take the 2% discount and pay on day 10. The remainder of Amicable's customers pay on day
3 0. How many days' sales are in Amicable's accounts receivable?
정답: C
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The CPI jumps from 131 in year 1 to 136.5 in year 2. What is annual inflation rate?
정답: A
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Minon, Inc. purchased a long-term asset on the last day of the current year. What are the effects of this
purchase on return on investment and residual income?
purchase on return on investment and residual income?
정답: C
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Micro Manufacturers uses a performance reporting system that combines both financial and nonfinancial
measures to evaluate division performance. All of the following measure operational efficiency, except:
measures to evaluate division performance. All of the following measure operational efficiency, except:
정답: B
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