Financial Management: Theory And Practice, 2nd Edition Test Bank

Ensure success with Financial Management: Theory And Practice, 2nd Edition Test Bank, an essential exam guide that helps you grasp concepts quickly and effectively.

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CHAPTER 1AN OVERVIEW OF FINANCIAL MANAGEMENT AND THE FINANCIALENVIRONMENTPleaseseetheprefaceforinformationontheAACSBletterindicators(F,M,etc.)onthesubjectlines.True/FalseEasy:(1.2)FirmorganizationFMAnswer:bEASY1.Theformoforganizationforabusinessisnotanimportantissue,asthisdecisionhasverylittleeffectontheincomeandwealthofthefirm'sowners.a.Trueb.False(1.2)FirmorganizationFMAnswer:bEASY2.Themajoradvantageofaregularpartnershiporacorporationasaformofbusinessorganizationisthefactthatbothoffertheirownerslimitedliability,whereasproprietorshipsdonot.a.Trueb.False(1.2)PartnershipFMAnswer:aEASY3.Therearethreeprimarydisadvantagesofaregularpartnership:(1)unlimitedliability,(2)limitedlifeoftheorganization,and(3)difficultyoftransferringownership.Thesecombinetomakeitdifficultforpartnershipstoattractlargeamountsofcapitalandthustogrowtoaverylargesize.a.Trueb.False(1.2)ProprietorshipFMAnswer:aEASY4.Twodisadvantagesofaproprietorshipare(1)therelativedifficultyofraisingnewcapitaland(2)theowner'sunlimitedpersonalliabilityforthebusiness'debts.a.Trueb.False

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Finance

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Financial Management: Theory And Pr...

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