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Which of the following responsibility centers will use a segmented income statement as an evaluation tool?
cost center
revenue center
profit center
Which of the following statements follows from the controllability principle?
A profit center manager should be evaluated based on residual income, not return on investment.
An investment center manager should be evaluated based on return on investment, not residual income.
A profit center manager should be evaluated based on segment margin, not profit margin.
A cost center manager should be evaluated on costs and revenues, not just costs.
balanced center
Spencer Supplies's stock is currently selling for $60 per share. The firm is expected to earn $5.10 per share this year and to pay a year-end dividend of $3.70. If investors require a 8.5% return, what rate of growth must be expected for Spencer?
A house is priced at $125,000. A down payment of $25,000 has been made. Equal payment will be installed every month, so that the loan can be repaid in 10 years. The annual interest rate is 12.00%, compounded monthly. What is the monthly payment for t..
You analyzed the returns of a sample of stocks. You found that, on average, the firms with high E/P ratios have higher subsequent returns. (i) Discuss an explanation for this pattern that is consistent with the EMH. (ii) Discuss an explanation that i..
After an intensive research and development effort, two methods for producing playing cards have been identified by the Turner Company. One method involves using a machine having a fixed cost of $10,000 and variable costs of $1.00 per deck of cards.
What is the present value of $1,100 per year, at a discount rate of 10 percent if the first payment is received 6 years from now and the last payment is received 30 years from now?
A $100,000 10-year Treasury note with a 1% coupon rate paid semi-annually. The current market interest rate is 5%. What is the price of a STRIP that is due after 3 years?
An investor buys $8,000 worth of a stock priced at $40 per share using 50% initial margin. The broker charges 6% on the margin loan and requires a 30% maintenance margin. In one year the investor gets a margin call.
Knight Supply Corp. has not grown for the past several years, and management expects this lack of growth to continue. The firm last paid a dividend of $4.30. If you require a rate of return of 17.0 percent, what is the current value of this stock to ..
With any type of business venture there is always risk involved and we have to look at capital structure decisions as we move through changing economic times. What is a business risk and what are some of the factors that influence a firm’s business r..
Suppose you have budgeted $ 1175 a month towards a mortgage. If you are offered a 30 year mortgage at an interest rate of 7.5%, how expensive a home mortgage can you afford?
Aguilera Acoustics, Inc., (AAI) projects unit sales for a new seven-octave voice emulation implant as follows: Year Unit Sales 1 114,500 2 133,500 3 121,500 4 104,500 5 90,500 Production of the implants will require $1,840,000 in net working capital ..
Kendra Enterprises has never paid a dividend. Free cash flow is projected to be $80,000 and $100.000 for the next 2 years, respectively; after the second year, FCF is expected to grow at a constant rate of 8%. The company’s weighted average cost of c..
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