If Moon Corporation has an increase in sales, which of the following would result in no change in its EBIT margin（）
A proportional increase in its net income
B. A proportional decrease in its EBIT
C. A proportional increase in its EBIT
D. An increase in its operating expenses
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The firm’s asset turnover measures（）
A. the value of assets held per dollar of shareholder equity
B. the return the firm has earned on its past investments
C. the firm’s ability to sell a product for more than the cost of producing it
D. how efficiently the firm is utilizing its assets to generate sales
If Firm A and Firm B are in the same industry and use the same production method, and Firm A’s asset turnover is higher than that of Firm B, then all else equal we can conclude（）
A. Firm A is more efficient than Firm B
B. Firm A has a lower dollar amount of assets than Firm B
C. Firm A has higher sales than Firm B
D. Firm A has a lower ROE than Firm B
Which of the following statements regarding the NPV decision rule is FALSE（）
A. Reject projects with a NPV of zero, as accepting them is equivalent to reducing firm value
B. When faced with a set of alternatives, choose the one with the highest NPV
C. Accept those projects with a positive NPV, as accepting them is equivalent to receiving their NPV in cash today
D. Reject those projects with a negative NPV
Which of the following is NOT a reason why cash flow may not equal net income（）
Amortization is added in when calculating net income
B. Changes in inventory will change cash flows but not income
Capital expenditures are not recorded on the income statement
Depreciation is deducted when calculating net income
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