Which of the following statements is least accurate？ The discounted payback period:
A. Frequently ignores terminal values.
B. Is generally shorter than the regular payback.
C. Is the time it takes for the present value of the projects cash inflows to equal the initial cost of the investment.
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A board of directors is most likely to act in the long-term interest of shareholders if:
All board members are elected annually.
B. Most board members are selected from outside the companys industry.
C. There are board members who represent the companys key supplier and largest customer.
Which of the following board characteristics would least likely be an indication of high-quality corporate governance？
A. Board members have staggered terms.
B. The board can hire independent consultants.
C. The board has a separate committee to set executive pay.
Based on surveys of comparable firms, which of the following firms “would be most likely to use NPV as its preferred method for evaluating capital projects？
A small public industrial company located in France.
B. A private company located in the United States.
C. A large public company located in the United States.
Which of the following statements about capital structure and leverage is most accurate？
A. Financial leverage is directly related to operating leverage.
B. Increasing the corporate tax rate will not affect capital structure decisions.
C. A firm with low operating leverage has a small proportion of its total costs in fixed costs.
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