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Date Posted: 16:35:36 02/22/00 Tue
Author: Charles Hodges
Subject: Corrections to First sample mid term
In reply to: James 's message, "First sample mid term" on 18:17:34 02/21/00 Mon

I note corrections below. Questions with correct answers were deleted

> 1. True
I accepted both true and false, although false was my preferred answer. The correct objective of management is to maiximise shareholders wealth. Maximization of profits (e.g. EPS) is often inconsistent with miaximising shareholders wealth.


> 3. Future, earnings
Should be "cash flow" not "earnings" as you can spend cash you can't spend earnings.


> 5. Do we have the right mix of debt and equity, Total
> debt/total assets
good answer, also shows ability to meet long-term obligations.

> 6. C. Statement of Cash Flows
Answer is E none of the above, Statement of cash flows does show investing cash flows but does not show operating expenses. Op expenses are shown on the income statement only.

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