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NEW QUESTION: 1
Expenses in Finance which are relevant to cost accounting are recorded in controlling using
Please choose the correct answer.
Response:
A. Secondary cost elements
B. Primary cost elements
C. Secondary expenses elements
D. Primary expenses elements
Answer: B

NEW QUESTION: 2
コミュニティ管理者がユーザーの追加を計画しており、コミュニティのウェルカムメールを送信したいと考えています。コミュニティ管理者が実行する必要がある3つのチェックはどれですか?3つの回答を選択してください。
A. コミュニティがアクティブステータスであることを確認します。
B. コミュニティが公開済みステータスになっていることを確認します。
C. ユーザーがコミュニティでプロファイルを確立していることを確認します。
D. コミュニティレベルでメールチェックボックスオプションを設定します。
E. コミュニティをプレビューステータスに設定して、アクティブステータスに変更する前に確認します。
Answer: A,C,D

NEW QUESTION: 3
Lorenz Kummert is a junior equity analyst who is following Schubert, Inc. (Schubert), a small publicly traded company in the United States. His supervisor, Markus Alter, CFA, has advised him to use the residual income model to analyze Schubert.
In his preliminary report to Alter, Kummert makes the following statements:
Statement 1: Residual income models are appropriate when expected free cash flows are negative for the foreseeable future.
Statement 2: Residual income models are not applicable when cash flows are volatile.
Kummert has determined Schubert's cost of equity, cost of debt, and weighted average cost of capital (WACC) to be 12.8%, 8.4%, and 11.9%, respectively. The current price of the stock is $35 per share and there are 130,000 shares outstanding. The relevant tax rate is 30%, and return on equity (ROE) is expected to be 13%.
Summarized financial information about Schubert for 2008 is provided in Exhibits I and II.

Based on his analysis of several years of financial statements, Kummert notes that 2008 was an exceptionally profitable year for Schubert, and that its dividend payouts are usually low because the funds are mainly reinvested in the firm to promote growth. Furthermore, there are very few nonrecurring items on the income statement. Upon review of Kummert's preliminary report, Alter concurs with his analysis of the financial statements but reminds him that Schubert's long-term debt is currently trading at 95% of its book value. He also cautions Kummert that violations of the clean surplus relation can bias the results of the residual income model.
The consensus annual EPS estimate for 2009 is $6.15, and the dividend payout ratio for 2009 is estimated at 5%.
Are Kummert's statements regarding the residual income model correct?
A. Only Statement 1 is correct.
B. Only Statement 2 is correct.
C. Both statements are incorrect.
Answer: A
Explanation:
Explanation/Reference:
Explanation:
Residual income models are appropriate when expected free cash flows are negative for the foreseeable future.
Residual income models are applicable even when cash flows arc volatile. (Study Session 12, LOS
43.h,n,o)


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