Finance
University Of Texas - Austin
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Test Bank Chapter 02 The Financial Statement Auditing Environment
- Exam (elaborations) • 42 pages • 2021
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Chapter 02 The Financial Statement Auditing Environment 
 
True / False Questions 
 
1.	A series of business and related auditing failures led to the passage of the Sarbanes-Oxley Act (2002). 
True False 
 
2.	The primary audit context with which an auditor is concerned is the client's industry or business. True False 
 
3.	The audit committee generally includes senior executives of the organization. True False 
 
4.	A financial statement audit is generally organized based on th...
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Test Bank Public Finance in Canada 5th Edition by Rosen, Gayer, Snoddon
- Exam (elaborations) • 15 pages • 2021
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File: Chapter 02 Test Bank 
 
 
Multiple Choice 
 
 
[QUESTION] 
1. Welfare economics 
A. does not depend on market interactions. 
B. only looks at the poorest parts of the economy. 
C. examines the social desirability of alternative economic states. 
D. uses only concepts of efficiency to evaluate the alternatives. 
Ans: C 
Topic: 02-01 
Blooms: Remember 
Difficulty: Easy 
 
[QUESTION] 
2. The absolute value of the slope of the production possibilities curve is the 
A. marginal rate of substitu...
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Test Bank for South-Western Federal Taxation 2021: Corporations, Partnerships, Estates and Trusts, 44th Edition by Raabe, Young, Nellen, Hoffman, Maloney
- Exam (elaborations) • 20 pages • 2021
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True / False 
 
1. Tomas owns a sole proprietorship, and Lucy is the sole shareholder of a C corporation. In the current year, both businesses make a net profit of $60,000. Neither business distributes any funds to the owners in the year. For the current year, Tomas must report $60,000 of income on his individual tax return, but Lucy is not required to report any income from the corporation on her individual tax return. 
 	a. 	True 
 	b. 	False 
ANSWER: 	True 
 
 
2. Carol and Candace are equal...
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Test Bank Financial Markets and Institutions, 13th Edition by Madura
- Exam (elaborations) • 11 pages • 2021
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1. The level of installment debt as a percentage of disposable income is generally ____ during recessionary periods. 
 	a. 	higher 
 
 	b. 	lower 
 
 	c. 	zero 
 
 	d. 	negative 
ANSWER: 	b 
 
 
2. At any given point in time, households would demand a ____ quantity of loanable funds at ____ rates of interest. 
 	a. 	greater; higher 
 	b. 	greater; lower 
 	c. 	smaller; lower 
 	d. 	None of these are correct. 
ANSWER: 	b 
 
 
3. Businesses demand loanable funds to 
 	a. 	finance installment deb...
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Test Bank Principles of Corporate Finance, 13th Edition by Brealey, Myers, Allen
- Exam (elaborations) • 41 pages • 2021
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Principles of Corporate Finance, 13e (Brealey) 
Chapter 2 How to Calculate Present Values 
 
1) The present value of $100 expected two years from today at a discount rate of 6 percent is 
A) $112.36. 
B) $106.00. 
C) $100.00. 
D) $89.00. 
 
Answer: D 
Explanation: PV = 100/(1.06^2) = 89.00. 
Difficulty: 1 Easy 
Topic: Net Present Value 
Learning Objective: 02-01 Future Values and Present Values 
Bloom's: Understand 
AACSB: Analytical Thinking 
Accessibility: Keyboard Navigation 
 
2) P...
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Test Bank Corporate Finance, 5th Edition by Berk, DeMarzo
- Exam (elaborations) • 34 pages • 2021
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Corporate Finance, 5e (Berk/DeMarzo) 
Chapter 2 Introduction to Financial Statement Analysis 
 
2.1 Firms' Disclosure of Financial Information 
 
1) U.S. public companies are required to file their annual financial statements with the U.S. Securities and Exchange Commission on which form? 
A)	10-A 
B)	10-K 
C)	10-Q 
D)	10-SEC 
Answer: B 
Diff: 1 
Section: 2.1 Firms' Disclosure of Financial Information 
Skill: Definition 
 
2) Which of the following is NOT a financial stat...
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Test Bank Entrepreneurial Finance 7th Edition by Leach, Melicher
- Exam (elaborations) • 14 pages • 2021
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True / False 
 
1. Only a small number of new business ideas become viable business opportunities with funded business plans. 
 	a. 	True 
 	b. 	False 
ANSWER: 	True 
 
 
2. It has been estimated that venture capitalists invest in about 10 to 30 percent of business plans presented to them. 
 	a. 	True 
 	b. 	False 
ANSWER: 	False 
 
 
3. Salary-replacement firms provide their owners with income levels comparable to what they could have earned working for much larger firms. 
 	a. 	True 
 	b. 	F...
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Solutions Manual Pearson’s Federal Taxation 2021 Corporations, Partnerships, Estates & Trusts, 34th Edition by Rupert, Anderson, Hulse
- Exam (elaborations) • 16 pages • 2021
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Chapter C:1 
 
Tax Research 
 
Note: To do the online research problems for this chapter, textbook users must have access to an Internet-based tax service at their institution. Solutions are provided using RIA Checkpoint, when applicable. In some cases, solutions using other tax services may differ. 
 
Discussion Questions 
 
C:1-1	In a closed-fact situation, the facts have occurred, and the tax advisor’s task is to analyze them to determine the appropriate tax treatment. In an open-fact s...
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