Multinational Business Finance, 14th Edition, Eiteman,Solution Manual
Multinational Business Finance, 14th Edition, Eiteman,Solution Manual
TBDeskripsi lengkap
Deskripsi lengkap
Nesta apostila estudaremos Lógica de Programação e, para isto, é importante ter uma visão geral do processo de desenvolvimento de programas (softwares), visto que o objetivo final é ter um …Full description
This paper elaborates the hybrid ACO PSO technique based on the swarm intelligence. In this technique, basically the ant colony optimization is used to construct the relevant solution and several algorithm steps are set out and particle swarm optimiz
Buku Saku Kader TBFull description
Buku Saku Kader TBDeskripsi lengkap
implementation of leach routing protocol in NS2Full description
Chapter 6: Financial Planning: Short Term and Long Term
#
CHAPTER 6 FINANCIAL PLANNING: SHORT TERM AND AND LONG TERM True-False Tr ue-False Questions
T.
1. Th Thee wei weigh ghte ted d ave avera rage ge of a set set of pos possi sibl blee out outcom comes es or scena scenari rios os is no nown wn as e!pected values.
T.
". Th Thee rat ratee at at whi which ch a fir firm m can can grow grow sale saless bas based ed on the the ret retent entio ion n of of bus busin ines esss profits is nown as sustainable sales growth rate.
F.
#. Th Thee con const stan antt rat ratio io fore foreca cast stin ing g met method hod maes maes pro$ pro$ec ecti tion onss bas based ed on the the assumption that certain costs and some balance sheet items are best e!pressed as a percentage of sales.
F.
%. Th Thee perc percent ent of sale saless for forec ecas asti ting ng met method hod pro$ pro$ect ectss ssel elec ecte ted d cost cost and and bala balanc ncee items at the same growth rate as sales.
T.
&. The cost of obtaining additional funds' such as additional interest e!penses from borrowing funds' ma( be e!plicit and impact )F*.
F.
6. Th Thee add added ed costs costs asso associ ciat ated ed with with obta obtain inin ing g e+ui e+uit( t( capi capita tall are are base based d on on investor e!pected rates of return and are e!plicit costs which affect )F*.
F.
,. Short Short-t -term erm fina financi ncial al plan planni ning ng t(pi t(pical call( l( invo involv lves es prepa prepari ring ng mo mont nthl( hl( financial statements and focuses on identif(ing and planning for net income demands on the business.
T.
. /v /ven en in a (oun (oung' g' succ succes essf sful ul vent ventur ure' e' rest restri rict cted ed acc acces esss to to ban ban cre credi ditt and and with little to no access to short-term lending marets can hinder operations until the ne!t round of financing.
F.
0. ) firm firm with with a posi positi tive ve gro growt wth h rat ratee in in sal sales es will will re+ui re+uire re some some add addit itio ional nal funds' assuming the e!isting ratios will not be changed.
T.
1. 1. )n incr increa ease se in in acco accoun unts ts rece receiv ivabl ablee will will re+u re+uir iree addi additi tiona onall fina financ ncin ing g unle unless ss the increase is offset b( an e+ual decrease in another asset account.
T.
11. 11. Th Thee act actio ions ns of of scr scree eeni ning ng bus busin ines esss ide ideas as'' prepa prepari ring ng a busi busines nesss pla plan' n' and and obtaining seed financing occurs during a venture2s development stage.
T.
1". 1". Short Short-t -ter erm m cas cash h plan planni ning ng tool toolss inc inclu lude de pre prepar parat atio ion n of a: sale saless ssche chedu dule le'' a purchases schedule' a wages and commissions schedule' and a cash budget.
#0
Chapter 6: Financial Planning: Short Term and Long Term
F.
1#. ) cash budget shows a venture2s pro$ected revenues and e!penses over a forecast period.
T.
1%. Forecasting for firms with operating histories is generall( much easier than forecasting for earl(-stage ventures.
T.
1&. )n e!pected value is a weighted average of a set of scenarios or possible outcomes.
F.
16. ) 3cash budget4 is a firm2s pro$ected sales and e!penditures over a forecast period.
F.
1,. Sales forecasting accurac( is usuall( highest during a venture2s startup stage in its life c(cle.
F.
1. 3Public or seasoned financing4 t(picall( occurs during the survival stage of a venture2s life c(cle.
T.
10. Sales forecasting accurac( is usuall( lowest during a venture2s development stage in its life c(cle.
T.
". ) 3sustainable sales growth rate4 is the rate at which a firm can grow sales based on the retention of profits in the business.
F.
"1. 35nternall( generated funds4 is the cash produced from operating a firm over a specified time period.
T.
"". 3Financial capital needed4 FC*7 is the amount of funds needed to ac+uire assets necessar( to support a firm2s sales growth.
T.
"#. The 3constant-ratio forecasting method4 is a variant of the 3percent-ofsales forecasting method.4
T.
"%. 3)dditional funds needed4 )F*7 is the gap remaining between the financial capital needed and that funded b( spontaneousl( generated funds and retained earnings.
F.
"&. 3Spontaneousl( generated funds4 are increases in accounts receivable and accounts pa(able that accompan( sales increases.
F.
"6. 3First-round financing4 usuall( occurs during a venture2s rapid-growth life c(cle stage.
Chapter 6: Financial Planning: Short Term and Long Term
%
Multile-C!oi"e Questions
e.
1. 8hich of the following is not a step in forecasting sales for a seasoned firm9 a. forecast future growth rates based on possible scenarios and the probabilities of those scenarios. b. attempt to corroborate the pro$ected sales growth rates anal(ing both industr( growth rates and the firm2s own past maret share. c. refine the sales forecast b( using the sales force as a direct contact with both e!isting and potential customers. d. tae into consideration the liel( impact of ma$or operating changes within the firm on the sales forecast. e. consider the effects of changes in the firm2s debt;e+uit( blend on the sales forecasts.
e.
". ) firm is said to be an earl( stage venture when it is in which of the following e!cept9 a. rapid growth stage b. startup stage c. development stage d. survival stage e. maturit( stage
a.
#.
d.
%.
c.
&. 5nternall( generated funds which are available for distribution to owners of for reinvestment bac into the business to support future growth can be characteried b( which of the following9 a. operating income b. operating cash flow c. net income
%1
Chapter 6: Financial Planning: Short Term and Long Term
d. net cash flow e. pre-ta! income d
6. The financial funds needed to ac+uire assets necessar( to support a firm2s sales growth is called: a. spontaneousl( generated funds b. additional funds needed c. addition in retained earnings d. financial capital needed
a.
,. The increase in accounts pa(ables and accruals that occur with a sales increase is called: a. spontaneousl( generated funds b. additional funds needed c. addition in retained earnings d. financial capital needed
b.
. The financial funds still needed to finance asset growth after using spontaneousl( generated funds and an( increase in retained earnings is called: a. spontaneousl( generated funds b. additional funds needed c. addition in retained earnings d. financial capital needed
d.
0. 8hich funds9 a. b. c. d. e.
one of the following would increase a firm2s need for additional an increasing profit margin a decreasing e!pected sales growth rate an increase in accruals an increasing dividend pa(out rate a decrease in assets
b.
1. 8hich of the following is not part of the financial forecasting process used to pro$ect financial statements9 a. forecast sales b. forecast ta! rates c. pro$ect the income statement d. pro$ect the balance sheet e pro$ect the statement of cash flows
b.
11. ) firm pro$ects net income to be =&'' intends to pa( out =1"&' in dividends' and had =" million of e+uit( at the beginning of the (ear. The firm2s sustainable growth rate is9 a. &> b. 1&>
Chapter 6: Financial Planning: Short Term and Long Term
%"
c. 6."&> d. %.60> e. none of the above b.
1". ) firm has net income of =#"' on sales of =#'"'. 5t2s assets total ="''' the e+uit( at the beginning of the (ear was =1'6' and dividends paid were ='. 8hat is the sustainable growth rate9 a. &> b. 1&> c. 6."&> d. %.60> e. none of the above
c.
1#. ?our firm recorded sales for the most recent (ear of =1 million generated from an asset base of =, million' producing a =&' net income. Sales are pro$ected to grow at ">' causing spontaneous liabilities to increase b( ="'. 5n the most recent (ear' ="' was paid out as dividends' and the current pa(out ratio will continue in the upcoming (ears. 8hat is (our firm2s additional funds needed9 a. ="' b. =6' c. =%' d. =06' e. =1'%'
b.
1%. ) sales growth rate based on the retention of profits is referred to as the: a. real sales growth rate b. sustainable sales growth rate c. spontaneous sales growth rate d. nominal sales growth rate e. weighted average sales growth rate
a.
1&. ) 3new4 venture usuall( begins its sales forecast b( first: a. forecasting industr( sales and e!pressing the venture2s sales as a percent of industr( sales b. using a 3bottom-up4 maret-driven approach c. e!trapolating past sales d. woring with e!isting and potential customers
b.
16. )n 3e!pected value4 is: a. a simple average of a set of scenarios or possible outcomes b. a weighted average of a set of scenarios or possible outcomes c. the highest scenario value or outcome d. the lowest scenario value or outcome
%#
Chapter 6: Financial Planning: Short Term and Long Term
d.
1,. 8hich one of the following life c(cle stages would generall( be associated with the second lowest sales forecasting accurac(9 a. maturit( b. rapid-growth c. survival d. start-up e. development
a.
1. Seed financing is generall( associated with which one of the following life c(cle stages: a. development stage b. startup stage c. survival stage d. rapid-growth stage e. maturit( stage
e.
10. Public or seasoned financing is generall( associated with which one of the following life c(cle stages: a. development stage b. startup stage c. survival stage d. rapid-growth stage e. maturit( stage
c.
". First-round financing is generall( associated with which one of the following life c(cle stages: a. development stage b. startup stage c. survival stage d. rapid-growth stage e. maturit( stage
d.
"1. 8hich one of the following ratios is not part of the 3standard4 return on e+uit( @A/7 model9 a. net profit margin b. asset turnover c. e+uit( multiplier d. retention rate
c.
"". 5f beginning of period common e+uit( is ="' and end of period common e+uit( is =#'' the sustainable growth rate is: a. ##> b. %> c. &> d. 6,>
Chapter 6: Financial Planning: Short Term and Long Term
%%
e. ,&> d.
"#. Bse the following information to estimate a venture2s sustainable growth rate: *et income ="'D Total assets =1''D e+uit( multiple based on beginning common e+uit( ". timesD and @etention rate "&>. a. &> b. "&> c. "> d. 1> e. &>
b.
"%. 5f a venture has a return on assets @A)7 1>' an e+uit( multiplier based on beginning e+uit( #.& times' and a retention rate &>' the sustainable growth rate would be: a. 1> b. 1,.&> c. #&> d. %> e. ".&>
b.
"&. 5f a venture has a return on assets @A)7 1>' an e+uit( multiplier based on beginning e+uit( %. times' and a dividend pa(out ratio of 6>' the sustainable growth rate would be: a. 1> b. 16> c. "> d. "%> e. %>
e.
"6. 5f a venture has a return on assets @A)7 1">' an e+uit( multiplier based on beginning e+uit( #. times' and a sustainable growth rate of 1>' the retention rate would be: a. 1> b. "> c. #> d. %> e. &>
d.
",. ) venture2s common e+uit( was =&' at the end of last (ear. 5f the venture2s common e+uit( at the end of this (ear was =6'' what was its sustainable sales growth rate9 a. &> b. 1> c. 1&> d. ">
%&
Chapter 6: Financial Planning: Short Term and Long Term
e. "&> e.
". ) venture2s common e+uit( account increased b( =1' the past (ear and ended the (ear at =&'. 8hat was its sustainable sales growth rate9 a. &> b. 1> c. 1&> d. "> e. "&>
a.
"0. a. 1> b. 1&> c. "> d. "&> e. #>
e.
#. a. 1> b. 16> c. "> d. "%> e. #>
a.
#1. D net profit margin 1>D and asset turnover " times. a. 1. b. 1."& c. 1.& d. 1.,& e. ".
e.
#". D total assets =&'D beginning of (ear common e+uit( ="'D and dividend pa(out percentage 6>. a. 1.> b. 1".&> c. 1&.> d. 1,.&> e. ".>
