I think it’s True. I hope it helps.
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I will fill in the right answers into the blank:
The income effect of a price change predicts that a fall in
a good's price will increase consumer purchasing power, leading to a(n) increase
in consumption of normal goods.
Asnwers:
fall; increase; increase; normal
Answer:
d. Yes Yes
Explanation:
Relevance and Faithful Representation are the two fundamental characteristics of financial reports in accounting. They hold that financial reports must be what would influence the decision or be important for financial decision of the information consumers in other words relevant while also being faithful representation such that information here is truly representative, reliable and free of errors. However comparability, understandability, timeliness, and verifiability are enhancing qualitative characteristics that support the fundamental qualitative characteristics in establishing usefulness of financial reports.
Answer: SEE EXPLANATION
Explanation:
Given the following ;
Values depending on Success
$150M, $135M, $95M, $80M
Risk free rate = 5% = 0.05
Pervebtage to be lost in case of bankruptcy = 25% = 0.25
A.) 0.25 × [( 150 + 135 + 95 + 80) ÷ 1.05] = $109.52 million
Assume a zero-coupon debt with a $100million face value
B.) 0.25 × [( 100 + 100 + (95×0.75) + (80×0.75)) ÷ 1.05] = $78.87 million
C.) Yield to maturity (YTM)
(100M÷78.87M) - 1
1.2679 - 1 = 0.2679 = 26.79%
Expected return = 5%
D.) Equity value
0.25 × [( 150 + 135 + (95×0.75) + (80×0.75)) ÷ 1.05] = $99.11 million
E.) share if no debt is issued
109.52 ÷ 10 = 10.95 per share
F.) Share price if debt of $100M is issued
99.11 ÷ 10 = 9.91 per share
The price differs because bankruptcy cost will Lower the share price.