Reading 46: Private Company Valuation-LOS b 习题精选

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2^#

发表于 2011-3-21 13:49 | 只看该作者

Assume that a property has an estimated net operating income (NOI) equal to $150,000. Further assume that comparable properties have a capitalization rate of 11%. The direct income capitalization approach provides a market value for this property that is closest to:

A)	$13,636,363.

B)	$1,500,000.

C)	$1,363,636.

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发表于 2011-3-21 13:50 | 只看该作者

Assume that a property that you are evaluating has a gross annual income equal to $230,000, and that comparable properties are selling for 10.5 times gross income. The gross income multiplier approach provides a market value for this property that is closest to:

A)	$2,587,500.

B)	$2,415,000.

C)	$2,190,476.

Gross income multiplier technique: MV = gross income × income multiplier.
MV = $230,000 × 10.5 = $2,415,000

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发表于 2011-3-21 13:50 | 只看该作者

Which of the following is least likely an example of a transaction-related valuation for a private company?

A)	Bankruptcy proceeding.

B)	Performance-based managerial compensation.

C)	Financial reporting.

Venture capital financing, initial public offering (IPO), bankruptcy proceeding, performance-based managerial compensation, and sale in an acquisition are all examples of transaction-related valuations for a private company.

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发表于 2011-3-21 13:50 | 只看该作者

Which of the following is least likely an example of a compliance-related valuation for a private company?

A)	Financial reporting.

B)	Bankruptcy proceeding.

C)	Tax purposes.

A bankruptcy proceeding is an example of a transaction-related valuation for a private company.

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发表于 2011-3-21 13:51 | 只看该作者

Which of the following is least likely an example of a litigation-related valuation for a private company?

A)	Bankruptcy proceeding.

B)	Lost profits claims.

C)	Divorce settlements.

Litigation-related valuations may be required for shareholder suits, damage claims, lost profits claims, or divorce settlements. A bankruptcy proceeding is an example of a transaction-related valuation for a private company.