Foundations of Financial Management Study Set 5
Quiz 2: Review of Accounting
The Residual Income of the Firm Belongs To
The residual income of the firm belongs to: A) creditors. B) preferred shareholders. C) common shareholders. D) bondholders.
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The best indication of the operational efficiency of management is: A) net income. B) earnings per share. C) earnings before interest and taxes (EBIT). D) gross profit.
Which account represents the cumulative earnings of the firm since its formation, minus dividends paid? A) Share price B) Common stock C) Retained earnings D) Accumulated amortization
A firm has $3,500,000 in its common stock account and $2,500,000 in its retained earnings account. The firm issued 100,000 shares of common stock. What was the original issue price if only one stock issue has ever been sold? A) $35 per share B) $25 per share C) $60 per share D) Not enough information to tell
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