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MANAJEMEN KEUANGAN 2_Review Week 4 5

Total questions: 25

Worksheet time: 17mins

Name
Class
Date
1.

Berikut adalah definisi dari proyek mutually exclusive?

a)

Proyek yang saling melengkapi satu sama lain

b)

Proyek atau usulan investasi yang saling menggantikan

c)

Dua lebih usulan yang memiliki manfaat yang sama, jika semua layak hanya salah satu yang bisa dilakukan

d)

Proyek tidak berkaitan sama sekali yang artinya ketika semua proyek layak maka bisa dijalankan

2.

Ditinjau dari tingkat ketergantungan usulan proyek investasi, termasuk jenis proyek yang mana, pembangunan hotel dan tempat parkir ?

a)

Substitutes project

b)

Independent project

c)

Mutually exclusive project

d)

Compliment project

3.

The following are things that need to be considered in estimating cash flow. The existence of a new product will have a certain impact on the old product is the meaning of?

a)

Independent

b)

Complement

c)

Opportunity cost

d)

Side effect

4.

Sunk costs are costs that have been incurred and can be transferred, therefore they cannot be considered in making investment decisions.

a)

TRUE

b)

FALSE

5.

Produk baru yang bersifat substitusi atau komplementer terhadap produk lama, selalu menimbulkan efek samping yang buruk terhadap arus kas perusahaan di masa yang akan datang.

a)

TRUE

b)

FALSE

6.

Initial cash out flow is a cash disbursement to finance the project during the planning, construction process until the project is ready to operate.

a)

TRUE

b)

FALSE

7.

incremental cash flows is additional cash flows obtained from difference between cash flow with new investment and cash flow without new investment.

a)

TRUE

b)

FALSE

8.

Pernyataan berikut benar, kecuali?

a)

Jika penjualan mesin baru mengalami kerugian, maka pajak akan bersifat sebagai penambah TCF

b)

Untuk mencari OCF proyek ekspansi menggunakan delta NCF

c)

PBP merupakan metode yang bertumpu pada kecepatan

d)

Arus kas masuk karena penjualan mesin bersifat sebagai pengurang pada ICF

9.

The difference between the OCF of replacement investment and expansion is

a)

The OCF of the new machine must accumulate the difference between the two investment cash flows

b)

The OCF of the new machine must accumulate the difference in net profit of the two investments

c)

The replacement OCF does not have to accumulate the cash flow difference between the two investments

10.

A positive NPV means that the project is expected to add value to the firm and will therefore increase the wealth of the owners. Since our goal is to increase owner wealth, NPV is a direct measure of how well this project will meet our goal. What should we do as firm ?

a)

Accept the project

b)

Reject the project

c)

Thinking first

11.

The method based on the difference between the discounted cash outflows and inflows is an evaluation method called?

a)

NPV

b)

ICF

c)

OCF

d)

NPL

12.

Internal rate of return (IRR)

–Discount rate that makes NPV > 0

–Take the project if the IRR is greater than the required return

–Same decision as NPV with conventional cash flows

–IRR is unreliable with nonconventional cash flows or mutually exclusive projects

a)

TRUE

b)

FALSE

13.

Net present value (NPV) :

–Difference between market value and cost

–Take the project if the NPV is negative

–Has no serious problems

–Preferred decision criterion

a)

TRUE

b)

FALSE

14.

Knowing a return is intuitively appealing, and this method is a simple way to communicate the value of a project to someone who doesn’t know all the estimation details. This statement is an advantage of.......

a)

Payback

b)

Internal Rate of Return

c)

Average Accounting Return

d)

Discounted Payback

15.

Dalam mengevaluasi dua proyek yang besifat mutually exclusive, yaitu proyek A dan B, penggunaan metode NPV dan IRR dapat menghasilkan penilaian yang sama atau berbeda jika:

a)

Jika tingkat diskonto ≥ dari tingkat diskonto yang menghasilkan NPVA = NPVB, maka hasil penilaiannya sama.

b)

Jika tingkat diskonto > dari tingkat diskonto yang menghasilkan NPVA = NPVB, maka hasil penilaiannya berbeda.

c)

Jika tingkat diskonto < dari tingkat diskonto yang menghasilkan NPVA = NPVB, maka hasil penilaiannya berbeda.

d)

Jika tingkat diskonto > dari tingkat diskonto yang menghasilkan NPVA = NPVB, maka hasil penilaiannya berbeda.

16.

Ditinjau dari aspek pengehematan biaya dan kenaikan pendapatan, terdapat usulan investasi yang bersifat meggantikan aset. Usulan seperti ini disebut?

a)

Replacement

b)

Expansion

c)

Growth

d)

Increasing

17.

Two or more investment proposals which has the same benefits, and if all feasible, then not everything can be implemented, but must choose one of the best.

a)

Mutually exclusive project

b)

Independent project

c)

Complement project

d)

Subtitution project

18.

Arus kas pada akhir umur proyek yang berasal dari penjualan nilai sisa mesin baru dan modal kerja disebut

a)

Incremental cash flow

b)

Operational cash flow

c)

Net working capital

d)

Terminal cash flow

19.

Berikut ini adalah metode penilaian kelayakan suatu proyek investasi jangka panjang yang memertimbangkan konsep nilai waktu uang, kecuali:

a)

Internal rate return

b)

Payback period

c)

Average accounting return

d)

Discount Payback

20.

1. Easy to understand

2. Adjusts for uncertainty of later cash flows

3. Includes time value of money

4. Requires an arbitrary cutoff point

5. Biased toward liquidity

Based on the above statement which is the advantage of payback ?

a)

1, 3,and 5

b)

1, 2,and 4

c)

1,3, and 4

d)

All answers are correct

21.

You are reviewing a new project and have estimated the following cash flows:

Year 0: CF = -160,000

Year 1: CF = 65,000

Year 2: CF = 74,000

Year 3: CF = 96,000

Calculate NPV for the Project if your required return for assets of this risk level is 15%

a)

15,597,93

b)

12.987,98

c)

17.785,39

d)

15.973,89

22.

Profitability Index :

- Benefit-cost ratio

- Take investment if PI < 1

- Cannot be used to rank mutually exclusive projects

- May be used to rank projects in the presence of capital rationing

a)

TRUE

b)

FALSE

23.

Internal rate of return (IRR) :

- Discount rate that makes NPV = 0

- Take the project if the IRR is greater than the required return

- Same decision as NPV with conventional cash flows

- IRR is unreliable with nonconventional cash flows or mutually exclusive projects

a)

TRUE

b)

FALSE

24.

Profitability Index (PI), merupakan modifikasi dari metode NPV, yang digunakan dalam penilaian dua atau lebih proyek investasi yang bersifat independen dan memiliki ukuran yang berbeda. Mana yang benar hubungan hasil penelaian NPV dan PI berikut ini:

a)

Jika NPV > 0, maka PI < 1

b)

Jika NPV > 0, maka PI > 1

c)

Jika NPV < 0, maka PI < 1

d)

Jika NPV = 0, maka PI ≠ 1

25.

The assessment of the feasibility of an investment project is based on the relevant cash flows. Which of the following costs is not relevant to be considered in the calculation of cash flows?

a)

Side effect cost

b)

Opportunity cost

c)

Sunk cost

d)

Net working capital