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Essay on Fi 360 Midterm

Satisfactory Essays

Unit 5 : Week Five - Midterm

Time Remaining:

1. The ultimate owner(s) of an ongoing corporation are (Points : 2) the federal government. the debt holders. the equity holders. the executive staff of the corporation.

2. Which of the following is a valid criticism concerning the goal of firms to maximize profits? (Points : 2) profit maximization ignores expenses profit maximization is completely unrelated to shareholder wealth profit maximization may ignore the timing of those profits there are no valid criticisms of profit maximizing firms

3.
Balance Sheet: 12/31/04

Assets

2004

2003

Cash and Marketable Securities

10

80 …show more content…

Balance Sheet: 12/31/04

Assets

2004

2003

Cash and Marketable Securities

10

80

Accounts Receivable

375

315

Inventories

615

415

Total Current Assets

1,000

810

Net plant and equipment

1,000

870

TOTAL ASSETS

2,000

1,680

Liabilities and Equity

2004

2003

Accounts Payable

60

40

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