A clause in a contract that says the contract will become void in case of war between the countries of the two contracting parties is called a legal impossibility agreement
a. True
b. False
Indicate whether the statement is true or false
False
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Mikkelson Corporation's stock had a required return of 12.50% last year, when the risk-free rate was 3% and the market risk premium was 4.75%. Then an increase in investor risk aversion caused the market risk premium to rise by 2%. The risk-free rate and the firm's beta remain unchanged. What is the company's new required rate of return? (Hint: First calculate the beta, then find the required return.) Do not round your intermediate calculations.
A. 12.87% B. 16.50% C. 13.04% D. 12.71% E. 14.36%
Which of the following securities requires registration under the registration requirements of the 1933 Act?
a. Securities of domestic banks and savings and loan associations b. Insurance policies issued by state-regulated insurance companies c. Short-term commercial paper that has a maturity of not more than nine months when issued. d. Municipal bonds
A ________ is a collection of forms, reports, queries, and programs that serves as an intermediary between users and database data.
A. data bridge B. data model C. data field D. database application E. database design
Pettijohn Inc.The balance sheet and income statement shown below are for Pettijohn Inc. Note that the firm has no amortization charges, it does not lease any assets, none of its debt must be retired during the next 5 years, and the notes payable will be rolled over.
Balance Sheet (Millions of $) Assets2016 Cash and securities$ 1,554.0 Accounts receivable9,660.0 Inventories 13,440.0 Total current assets$24,654.0 Net plant and equipment 17,346.0 Total assets$42,000.0 Liabilities and Equity Accounts payable$ 7,980.0 Notes payable5,880.0 Accruals 4,620.0 Total current liabilities$18,480.0 Long-term bonds 10,920.0 Total liabilities$29,400.0 Common stock3,360.0 Retained earnings 9,240.0 Total common equity$12,600.0 Total liabilities and equity$42,000.0 Income Statement (Millions of $)2016 Net sales$58,800.0 Operating costs except depr'n$55,274.0 Depreciation$ 1,029.0 Earnings bef int and taxes (EBIT)$ 2,497.0 Less interest 1,050.0 Earnings before taxes (EBT)$ 1,447.0 Taxes$ 314.0 Net income$ 1,133.0 Other data: Shares outstanding (millions)175.00 Common dividends$ 509.83 Int rate on notes payable & L-T bonds6.25% Federal plus state income tax rate21.7% Year-end stock price$77.69 Refer to the data for Pettijohn Inc. What is the firm's quick ratio? A. 0.49 B. 0.61 C. 0.73 D. 0.87 E. 1.05