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Karten 20
Sprache Deutsch
Kategorie Scherzfragen
Stufe Mittelschule
Erstellt / Aktualisiert 24.12.2018 / 24.12.2018
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  1. The free cash flow model values the free cash flows stream of a firm. The value of other nonequity components is estimated by:

a.   discounting a forecast of the firm’s expected free cash flow for the nonequity components

b.   adding the value of core operations and subtracting the value of debt and other capital claims

c.   direct observation of market values or estimating fair values in other ways

d.   adding the value of debt and other capital claims minus the value of core operations

c

  1. To be able to use historical ratios for forecasting, they must be calculated in exactly the same way as the ratios used to forecast free cash flow. The appropriate historical ratios cannot be calculated directly from GAAP financial statements because:

a.   GAAP requires the use of accrual accounting

b.   these ratios include the effects of transactions that are not related to core operations

c.   these ratios do not include the effects of transactions related to core operations

d.   GAAP separates free cash flows from other cash flows

b
  1. The GAAP income statement and statement of cash flows differ from the free cash flow statement:

a.   because GAAP categorizes cash flows in a different way than does the free cash flow statement

b.   because the net cash flow from the GAAP cash flow statement is different than the net cash flow from the free cash flow statement

c.   GAAP does not report in the income statement or statement of cash flows certain noncash transactions that are included in the free cash flow statement

d.   Answers a and c are both correct.

d

  1. One difference between GAAP financial statements and the free cash flow statement is that the free cash flow statement includes free cash flow equivalents. These are transactions that:
  1. have a component relating to the firm’s operations not found in the GAAP financial statements
  2. have one component relating to the firm’s operations and a second relating to another element of the economic balance sheet such as a component of capital
  3. are essentially only one transaction that is shown on the free cash flow statement
  4. None of the above answers are correct.

b