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提问人:网友dqbaby 发布时间:2022-01-07
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Which of the following statements is FALSE?

A、As long as the firm's choice of securities does not change the cash flows generated by its assets, the capital structure decision will not change the total value of the firm or the amount of capital it can raise.

B、If securities are fairly priced, then buying or selling securities has an NPV of zero and, therefore, should not change the value of a firm.

C、The future repayments that the firm must make on its debt are equal in value to the amount of the loan it receives up front.

D、An investor who would like more leverage than the firm has chosen can lend and add leverage to his or her own portfolio.

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更多“Which of the following statements is FALSE?”相关的问题
第1题
Which general statement concerning radar is FALSE?

A、A.raising the antenna height increases the radar range

B、B.the ability of radar to detect objects is unaffected by weather conditions

C、C.radar bearing are less accurate than radar range

D、D.radar should be checked regularly during clear weather to ensure that it is operating properly

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第2题

Which of the following statements are TRUR and which are FALSE? Why? (要解释原因) a. All normal children have equal ability in learning their first language. b. It is easy for parents to teach their children grammar. c. The young child is not taught to speak, or to understand his language. There is no formal learning of grammar or pronunciation practice. d. At first children do not inflect nouns or verbs. e. Children learn their native language well whenever they start and whatever kinds of language samples they receive. f. For a child to acquire his mother tongue the most basic requirement is that he hears people speaking this language. He will then begin to learn the language. g. Phonology and grammar are finite, tightly structures systems, the child must master them before puberty in order to be a native speaker of the language.

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第3题
Which of the following statement concerned with cultural identity is wrong?

A、Awareness of cultural identity is essential to effective cross-cultural communication.

B、Cultural identity is the feeling of not belonging to a certain group.

C、Understanding and celebrating cultural identity can boost pride and self-esteem.

D、Cultural identity is bureaucratically or self-ascribed membership in a specific culture.

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第4题
Consider the following equation: E + D = U = A The U in this equation represents:

A、the value of the firm's equity.

B、the market value of the firm's assets.

C、the value of the firm's unlevered equity.

D、the value of the firm's debt.

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第5题
Which of the following statements is FALSE?

A、Holding cash has the opposite effect of leverage on risk and return.

B、We use the market value of the firm's net debt when computing its WACC and unlevered beta to measure the cost of capital and market risk of the firm’s business assets.

C、Since the WACC does not change with the use of leverage, the value of the firm's free cash flow evaluated using the WACC does not change, and so the enterprise value of the firm does not depend on its financing choices.

D、Even if the firm's capital structure is more complex, the WACC is calculated by computing the weighted average cost of only the firm’s debt and equity.

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第6题
The following equation: X = E/(E+D) rE +D/(E+D) rD can be used to calculate all of the following EXCEPT:

A、the cost of capital for the firm's assets.

B、the levered cost of equity.

C、the unlevered cost of equity.

D、the weighted average cost of capital.

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第7题
Galt Industries has no debt, total equity capitalization of $600 million, and an equity beta of 1.2. Included in Galt's assets is $90 million in cash and risk-free securities. Assume the risk-free rate is 4% and the market risk premium is 6%. Galt's enterprise value is closest to:

A、$90 million

B、$510 million

C、$600 million

D、$690 million

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第8题
Which of the following statements is FALSE?

A、As long as investors can borrow or lend at the same interest rate as the firm, homemade leverage is a perfect substitute for the use of leverage by the firm.

B、When investors use leverage in their own portfolios to adjust the leverage choice made by the firm, we say that they are using homemade leverage.

C、The value of the firm is determined by the present value of the cash flows from its current and future investments.

D、The investor can re-create the payoffs of unlevered equity by borrowing and using the proceeds to purchase the equity of the firm.

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第9题
Which of the following statements is FALSE?

A、Whether paid by the firm or its creditors, the indirect costs of bankruptcy increase the value of the assets that the firm’s investors will ultimately receive.

B、In addition to the money spent by the firm, the creditors may incur costs during the bankruptcy process.

C、The bankruptcy code is designed to provide an orderly process for settling a firm’s debts.

D、To ensure that their rights and interests are respected, and to assist in valuing their claims in a proposed reorganization, creditors may seek separate legal representation and professional advice.

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第10题
Which of the following statements is FALSE?

A、When a firm fails to make a required payment to debt holders, it is in bankruptcy.

B、With perfect capital markets, the risk of bankruptcy is not a disadvantage of debt—bankruptcy simply shifts the ownership of the firm from equity holders to debt holders without changing the total value available to all investors.

C、Bankruptcy is a long and complicated process that imposes both direct and indirect costs on the firm and its investors that the assumption of perfect capital markets ignores.

D、Bankruptcy is rarely simple and straightforward—equity holders don’t just "hand the keys" to debt holders the moment the firm defaults on a debt payment.

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