10—-For which of the following generic businesses would you expect a combination of high asset turnover and low profit margins?

Top of Form

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Supermarkets

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Banks

·

Software developers

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Airlines

Bottom of Form

11—-A company can shorten its cash cycle by:

Top of Form

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Reducing inventory turnover

·

Reducing account payables

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Reducing days receivable

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None of the above

Bottom of Form

12—For a levered firm, EBIT is equivalent to:

Top of Form

·

Net income

·

Pro forma earnings

·

Operating profit

·

Net income before taxes

Bottom of Form

13—-The amount by which a project increases the value of the firm is given by the project’s ______.

Top of Form

·

accounting rate of return

·

net present value (NPV)

·

internal rate of return (IRR)

·

present value

Bottom of Form

14—-A dollar today is worth more than a dollar tomorrow.

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