Financial accounting is the branch of accounting concerned with communication with internal management
a. True
b. False
Indicate whether the statement is true or false
False
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Companies using seasonal inventory will maintain a level inventory increase rate of production for periods of high demand
Indicate whether the statement is true or false.
CASE 21.3 In re Lehman Bros. Mortgage-Backed Securities Litigation (2011) involved a question of whether rating agencies that helped select a pool of mortgages for a mortgage-backed security were "underwriters" under the 1933 Act or "controlling persons" under section 15 of the 1933 Act. How did the court rule?
a. The court ruled that the proof established that the rating agencies were both underwriters and controlling persons under the 1933 Act. b. The court ruled that the proof failed to establish that the rating agencies were either underwriters or controlling persons under the 1933 Act. c. The court ruled that the proof established that the rating agencies were underwriters under the 1933 Act but that the proof failed to establish that the rating agencies were controlling persons under the 1933 Act. d. The court ruled that the proof established that the rating agencies were controlling persons under the 1933 Act but that the proof failed to establish that the rating agencies were underwriters under the 1933 Act.
A ________ is a gradual, long-term, up-or-down movement of demand
A) seasonal pattern B) cycle C) trend D) prediction
Bronson Building Products Inc estimates that FCFF in the coming year will be $1,600,000, year two will be 15% greater than year one, and year three will be 10% greater than year two. Bronson has a cost of capital of 12%
Estimate the firm's terminal value FCFF as of year three if cash flows are estimated to continue to increase at a rate of 5% indefinitely. What is the overall estimated (present) value of the firm?