Which of the following is not a reason for investing in mutual funds?
A) Small amount of funds needed
B) Portfolio manager expertise
C) Specific investment goals
D) Overly diversified
Answer: D
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A ratio of net income of $100,000 to sales of $1,000,000 can be stated as
A) Net income is 1/10, or 10 percent, of sales. B) For every dollar of sales, the company has an average net income of 10 cents. C) The ratio of sales to net income is 10 to 1 (10:1), or sales are 10 times net income. D) All of these choices.
Cherokee Cable Corporation sells heavy wire cable to large construction companies around the country. Customers pay shipping from a central warehouse in Dallas. Recently, a new competitor in Atlanta has been taking away some of Cherokee Cable's southern customers. If Cherokee Cable wants to compete in those distant markets but not increase the cost of its product to other customers, it will probably switch to
A. freight absorption pricing. B. specifying "F.O.B. Dallas" in its contracts. C. zone pricing. D. uniform delivered pricing. E. None of these would help Cherokee Cable Corporation with its problem.
In Hearts Bluff Game Ranch v. U.S., Hearts purchased a large piece of land that the Army Corps said could be used as mitigation property for wetlands purposes. Later, the state of Texas announced it was building a water reservoir that would put Hearts under water, so it could no longer be used for wetlands mitigation. Hearts sued for uncompensated taking as the property was more valuable for
mitigation than under a reservoir. The appeals court held that the state of Texas would have to pay the value of the land as wetlands mitigation property when it bought it for use as a reservoir. a. True b. False Indicate whether the statement is true or false
Refer to the balance sheet above. If in 2006 Luther has 10.2 million shares outstanding and these shares are trading at $16 per share, then using the market value of equity, the debt-equity ratio for Luther in 2006 is closest to ________
Luther Corporation Consolidated Balance Sheet December 31, 2006 and 2005 (in $ millions) Assets 2006 2005 Liabilities and Stockholders' Equity 2006 2005 Current Assets Current Liabilities Cash 57.6 58.5 Accounts payable 86.0 73.5 Accounts receivable 55.2 39.6 Notes payable / short-term debt 10.5 9.6 Inventories 45.6 42.9 Current maturities of long-term debt 39.6 36.9 Other current assets 5.6 3.0 Other current liabilities 6.0 12.0 Total current assets 164.0 144.0 Total current liabilities 142.1 132.0 Long-Term Assets Long-Term Liabilities Land 66.4 62.1 Long-term debt 231.3 168.9 Buildings 108.3 91.5 Capital lease obligations Equipment 114.3 99.6 Less accumulated depreciation (54.4) (52.5) Deferred taxes 22.8 22.2 Net property, plant, and equipment 234.6 200.7 Other long-term liabilities --- --- Goodwill 60.0 -- Total long-term liabilities 254.1 191.1 Other long-term assets 63.0 42.0 Total liabilities 396.2 323.1 Total long-term assets 357.6 242.7 Stockholders' Equity 125.4 63.6 Total Assets 521.6 386.7 Total liabilities and Stockholders' Equity 521.6 386.7 A) 3.45 B) 1.72 C) 0.86 D) 2.41