All of the following ratios are used to measure cash-generating efficiency except:
a. cash flow yield.
b. cash flows to assets.
c. free cash flow.
d. none of these.
c
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Which organization, in addition to the Financial Accounting Standards Board (FASB), occasionally issues authoritative rules for financial statements?
a. The Accounting Profession b. International Accounting Standards Board (IASB) c. Securities and Exchange Commission (SEC) d. Internal Revenue Service (IRS)
An investor puts $10,000 in an account earning 4 percent compounded interest. At the end of three years, the account will have a value of:
A) less than $11,000. B) between $11,000 and $11,200. C) between $11,200 and $11,400. D) more than $11,400.
Flower Depot, Inc. sells a single product for $10. Variable costs are $4 per unit and fixed costs total $120,000 at a volume level of 10,000 units. What dollar sales level would Flower Depot have to achieve to earn a target profit of $240,000?
A. $400,000. B. $500,000. C. $600,000. D. $750,000. E. $900,000.
Postage Corporation acquired 75 percent of Stamp Corporation's common stock on December 31, 20X8, for $300,000. The fair value of the noncontrolling interest at that date was determined to be $100,000. Stamp's balance sheet immediately before the combination reflected the following balances: Cash and Receivables$40,000 Inventory 70,000 Land 90,000 Buildings and Equipment (net) 250,000 Total Assets$450,000 Accounts Payable$30,000 Income Taxes Payable 40,000 Bonds Payable 100,000 Common Stock 100,000 Retained Earnings 180,000 Total Liabilities and Stockholders' Equity$450,000 A careful review of the fair value of Stamp's assets and liabilities indicated that inventory, land, and buildings and equipment (net) had fair values of $65,000, $100,000, and, $300,000
respectively. Goodwill is assigned proportionately to Postage and the noncontrolling shareholders.Based on the preceding information, what amount will be reported as investment in Stamp Corporation stock in the consolidated balance sheet immediately following the acquisition? A. $0 B. $400,000 C. $210,000 D. $300,000