Which of the following represent options available to managers in making investment decisions?
A. Delay initial investment
B. Accelerate cumulative investment
C. Abandon the investment at a later date
D. A & B only
E. A, B, & C
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Limitations in applying the comparable companies’ method of valuation include which of the following?
A. Finding truly comparable companies is difficult
B. The use of market-based methods can result in significant under- or overvaluation during periods of declining or rising stock markets
C. Market-based methods can be manipulated easily, because the methods do not require a clear statement of assumptions with respect to risk, growth, or the timing or magnitude of future earnings and cash flows.
D. A, B, & C
E. A & B only
In determining the purchase price for an acquisition target, which one of the following valuation methods does not require the addition of a purchase price premium?
A. Discounted cash flow method
B. Comparable companies’ method
Comparable industries’ method
D. Recent transactions’ method
E. A & B only
Which one of the following factors is not considered calculating a firm’s PEG ratio?
A. Projected growth rate of the value indicator (e.g., earnings)
B. Ratio of market price to value indicator (e.g., P/E)
C. Share exchange ratio
D. Historical growth rate of the value indicator
E. None of the above
The incremental cash flows of a merger can relate to which of the following:
A. Working capital
B. Profits
Capital spending
D. Income taxes
E. All of the above
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