Question 23 1. Which one of the following has nearly the same meaning a

    Question 23

    1.

    Which one of the following has nearly the same meaning as free cash flow?

    Answer

    Net income

    Cash flow from assets

    Operating cash flow

    Cash flow to shareholders

    Addition to retained earnings

    Question 29

    1.

    A corporation:

    Answer

    is ultimately controlled by its board of directors.

    is a legal entity separate from its owners.

    is prohibited from entering into contractual agreements.

    has its identity defined by its bylaws.

    has its existence regulated by the rules set forth in its charter

    Question 31

    1.

    Which one of the following is the tax rate that applies to the next dollar of taxable income that a firm earns?

    Answer

    Average tax rate

    Variable tax rate

    Marginal tax rate

    Absolute tax rate

    Contingent tax rate

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