A company that sells ice cream is evaluating an expansion of its production facilities to allow the company to also produce frozen yogurt. The expansion project is based on a marketing study that conc
A. No,because the projected increase in ice cream sales is an externality.
B. Yes,because the projects NPV will be overstated if the cash flows associated with the projected increase in ice cream sales are not included.
C. Yes,because the projects NPV will be understated if the cash flows associated with the projected increase in ice cream sales are not included.
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During periods of rising prices and stable or increasing inventory quantities, using FIFO compared to using LIFO is most likely to result in:
A lower net profit margin.
B. Lower taxes.
C. A lower inventory turnover ratio.
In 2009, the average market price of a companys common stock was $60 per share and basic earnings per share was $1.60. With respect to the computation of 2009 diluted earnings per share for that compa
A. 7% convertible bonds.
B. Options with an exercise of $65 per share.
C. Warrants with an exercise of $55 per share.
Whenever an investment management firm presents investment performance in compliance with the Global Investment Performance Standards （GIPS）, it must state how it defines itself as a firm. Under GIPS,
An entity is registered with the appropriate national regulatory authority overseeing the entitys investment management activities.
B. All assets are managed to one or more base currencies.
C. The subsidiary or division of a company claims GIPS compliance when the parent company is GIPS compliant.
Sean Dahib, CFA, is in charge of the compliance program at his investment firm. According to the Standards of Practice Handbook, as a supervisor, Sean should least likely perform which of the followin
A. Respond promptly to all violations.
B. Disseminate the contents of the program to all personnel.
C. Incorporate a professional conduct evaluation as part of an employees performance review.
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