Balance sheet liabilities should be recorded at their

a. original outstanding balance.
b. year-end outstanding balance.
c. average outstanding balance.
d. current outstanding balance.
e. none of these.


D

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A graph plotting the real value of a mortgage payment over time when the inflation rate is positive and the mortgage is a standard nominal-rate loan illustrates the

A. present-value formula. B. securitization issue. C. real-interest rate conundrum. D. mortgage-tilt problem.

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Which of the following is a principle of the Code of Ethics of the International Ethics Standards Board for Accountants but not a principle found in the AICPA Professional Code of Conduct?

a. Integrity b. Professional Behavior c. Confidentiality d. Objectivity

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______ is also known as the problem-solving style.

a. Collaborating conflict style b. Negotiating conflict style c. Forcing conflict style d. Accommodating conflict style

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Based on the information below for Benson Corporation, what is the optimal capital structure?

a.

Debt = 40%; Equity = 60%; EPS = $2.95; Stock price = $26.50.

b.

Debt = 50%; Equity = 50%; EPS = $3.05; Stock price = $28.90.

c.

Debt = 60%; Equity = 40%; EPS = $3.18; Stock price = $31.20.

d.

Debt = 80%; Equity = 20%; EPS = $3.42; Stock price = $30.40.

e.

Debt = 70%; Equity = 30%; EPS = $3.31; Stock price = $30.00. 

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