P REFACEThis test bank has been prepared for professors using the textbook, Advanced Corporate Finance: Policies and Strategies, by Ogden, Jen, and O’Connor, Prentice Hall, 2000.. Nonfi
Trang 1TEST BANK
Policies and Strategies
Joseph P Ogden
State University of New York, Buffalo
Frank C Jen
State University of New York, Buffalo Philip F O’Connor
Southern Utah University
Prentice Hall, Upper Saddle River, New Jersey 07458
Trang 2Acquisitions Editor: Mickey Cox
Associate Editor: Kevin Hancock
Project editor:
Manufacturer:
All rights reserved No part of this book may be
Reproduced, in any form or by any means,
Without permission in writing from the publisher
Printed in the United States of America
10 9 8 7 6 5 4 3 2
ISBN
Prentice-Hall International (UK) Limited, London
Prentice-Hall of Australia Pty Limited, Sydney
Prentice-Hall Canada, Inc., Toronto
Prentice-Hall Hispanoamericana, S.A., Mexico
Prentice-Hall of India Private Limited, New Delhi
Prentice-Hall of Japan, Inc., Tokyo
Simon & Schuster Asia Pte Ltd., Singapore
Editora Prentice-Hall do Brasil, Ltda., Rio de Janeiro
© 2002 Prentice Hall, Inc.
A Simon & Schuster Company
Upper Saddle River, New Jersey 07458
Trang 3P REFACE
This test bank has been prepared for professors using the textbook, Advanced Corporate
Finance: Policies and Strategies, by Ogden, Jen, and O’Connor, Prentice Hall, 2000 The test
bank provides, for each chapter, sets of multiple-choice questions and essay questions For each multiple-choice question, the correct answer is highlighted with an asterisk (*), and if the
question involves numerical calculations, the applicable formula is provided
Joseph P Ogden
Trang 4CONTENTS
Chapter 1……… 5
Chapter 2……… 8
Chapter 3……… 12
Chapter 4……… 17
Chapter 5……… 20
Chapter 6……… 22
Chapter 7……… 26
Chapter 8……… 30
Chapter 9……… 34
Chapter 10……… 38
Chapter 11……… 43
Chapter 12……… 45
Chapter 13……… 48
Chapter 14……… 51
Chapter 15……… 53
Chapter 16……… 56
Chapter 17……… 61
Chapter 18……… 64
Chapter 19……… 67
Trang 5C H A P T E R 1
Empirical Perspectives on the Financial Characteristics
of Publicly Traded U.S
Nonfinancial Firms
Multiple Choice Questions
_ 1 For public U.S nonfinancial firms in composite, the fractions of current assets and non-current
assets (all in book values; year-end 2000) are approximately:
Assets Assets
a 1/3 2/3 *
_ 2 For public U.S nonfinancial firms in composite, the fractions of liabilities (current plus non-
current), and equities (all in book values, year-end 2000) are approximately:
c 2/3 1/3 *
_ 3 Over the years 1981-2000, 4,770 nonfinancial firms exited the U.S markets for publicly traded
equity Which of the following was the most frequent reason for a firm’s exit?
a Merger or acquisition *
c The firm reverted to private equity ownership
d The firm changed its listing to a foreign stock exchange _ 4 What average annual proportion of the total number of public U.S nonfinancial firms at year-end
1980 exited over the years 1981-2000 (i.e., the average attrition rate)?
a 5.9% *
_ 5 Which category of composite assets (for public U.S nonfinancial firms) showed the largest proportional decrease over the years 1980-2000?
c net PP&E *
Trang 6_ 6 Throughout the period 1980-2000, the composite proportion of the TA of U.S nonfinancial firms
accounted for by net PP&E generally _(i) , and the proportion of TA financed by equity
_ 7 Which category of liabilities & equities had the smallest proportion in every year from 1980- 2000?
c other non-current liabilities
e preferred stock * _ 8 For public U.S nonfinancial firms over the years 1980-2000, the composite market-to-book equity ratio generally:
a increased from 1980-2000 *
c remained stable from 1980-2000
_ 9 Which groups of U.S nonfinancial firms have the highest composite proportions of PP&E to TA?
d S&P Transports and Utilities *
_ 10 According to the composite sources-and-uses data presented in Chapter 1, the main net source of
funds for U.S nonfinancial firms over the years 1980-2000 is:
a proceeds from debt offerings
b proceeds from equity offerings
c retained earnings (net cash flow from operations) *
d sales of investments (net of increases in investments)
_ 11 Over the 20-year period of 1980-2000, the composite dividend yield of public U.S nonfinancial
b decreased *
_ 12 The ownership structures of most publicly traded U.S nonfinancial firms is better characterized
b diffuse *