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Date Posted: 18:45:15 02/22/00 Tue
Author: Kenneth White
Subject: Re: Another Sample Mid-term from Hodges, covers chapters 1-6
In reply to: Charles Hodges 's message, "Another Sample Mid-term from Hodges, covers chapters 1-6" on 13:48:12 02/04/00 Fri

1. d
2. Managerial compensation tied to profitability and stock performance. Examples include stock options, performance shares, bonus.
Direct intervention by stockholders
Threat of firing
Threat of a coroporate takeover
3. c
4. false
5.Balance sheet, income statement, statement of cash flows, statement of retained earnings
6. True
7. False
8. B.
9. Issuance of new stock, securing a bank loan, selling short term investments
10. True
11. c
12 Better, worse, better, better
13 Case A - Expenses =60,000, retained earnings = 130,000,
current assets = 80,000, current liabilities = 30,000, total liabilities =300,000,
Case B - Expenses = 60,000, Net income = 80,000, long term assets = 910,000, total assets = 970,000, noncurrent liabilities = 110,000, total equity = 830,000
Case C - Revenues = 110,000, Dividends = 40,000, retained earnings = 200,000, total assets = 640,000, current liabilities = 100,000, total liabilities = 270,000
Case D - Revenues = 90,000, Net income = 20,000, retained earnings - 110,000, current assets = 110,000, noncurrent liabilities = 180,000, total liabilities= 200,000

14. Can't figure this one out. Need some guidance
15. 5.76% and 6%
16. Seasonal factors can distort results if business is highly seasonal
Companies may engage in window dressing to make ratios look better than actual results
Large firms may have different divisions operating in different environments and business conditions
Different accounting practices among various firms in an industry
Distortion of balance sheets caused by inflation
17 A
18 D
19 A
20 200,000
21 D
22 D
23 D
24 False
25 True
26 True
27 False

28 True
29 True
30 True
31 True
32 True
33 True

Thanks for your response and input on my practice exam.

Ken

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