FIN 571 Final Exam - 100% Correct

Question 1

FIN 571 Final Exam 30/30

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Multiple Choice Question 51

Which of the following is considered a hybrid organizational form?

partnership

limited liability partnership

sole proprietorship

corporation

Multiple Choice Question 59

Which of the following is a principal within the agency relationship?

the board of directors

a company engineer

the CEO of the firm

a shareholder

Multiple Choice Question 57

Teakap, Inc., has current assets of $ 1,456,312 and total assets of $4,812,369 for the year ending September 30, 2006. It also has current liabilities of $1,041,012, common equity of $1,500,000, and retained earnings of $1,468,347. How much long-term debt does the firm have?

$2,303,010

$2,123,612

$803,010

$1,844,022

Multiple Choice Question 78

Which of the following presents a summary of the changes in a firm’s balance sheet from the beginning of an accounting period to the end of that accounting period?

The statement of net worth.

The statement of retained earnings.

The statement of cash flo

Answer 1

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