MGMT 640 Financial Decision Making for Managers Midterm Exam
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Financial Decision Making for Managers
The Midterm Exam is individual work. All work on the exam should be from your own efforts, with no assistance from classmates, family, friends or others. By proceeding with this exam, you are agreeing not to share the exam content or your responses with anyone, including future students of MGMT640. (Upload your answer sheet and working – if applicable – to Assignments folder in LEO).
You must submit a completed answer sheet with your answers. You are not required to submit your working. However, complete working in MS Excel, showing formulas and calculations may be considered for partial credit for incorrect answers.
Please refer to the Syllabus for the policy regarding late submissions. There will be no make-up exams except for emergencies supported by appropriate documentation.
Identify the letter of the choice that best completes the statement or answers the question.
____c__ 1. One of the best ways to reduce agency conflict is by
a. instituting severe penalties for bad decisions.
b. hiring outside monitors to keep track of the manager’s decisions.
c. designing an effective compensation package.
d. having managers report to the board of directors.
______ 2. Assume the pre-tax profit of $50,000 has been earned by a business, and the owner/proprietor wants to withdraw all of the after-tax profit for personal use. Assume the tax rate for a C corporation is 34%, while the rate for a person is 27%. The after-tax earnings available under the corporate and proprietorship forms of business are:
a. for a corporation,...