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本帖最后由 catherine 于 2015-7-17 09:19 编辑 ! j1 l$ P5 m7 ~+ L+ a/ }' q
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Question 668 E5 I: q. W z% ^1 o' ?2 O/ w
" E: }. j2 c9 U5 UWhich of the following items for a mutual funds company is least likely to be considered an operating item on the income statement?
0 h6 a) M+ E* a$ `" [5 ZA) Interest income.+ a7 \ x- y) D* e M' [" j
B) Interest expense.0 ~1 Y/ a4 i! I1 N9 _
C) Income tax expense., E, p! e2 v- d! c, T
D) Financing expenses.
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答案和详解:
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, o, r7 d% I) P' nQuestion 67
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The correct financial statement adjustments for a take-or-pay contract and for a sale of receivables with recourse that has been reported as a true sale would:& P) }" j- q2 c: Z! I- Y
Take-or-pay contract Sale of receivables with recourse
: W# T" |! t. M- j6 }9 j( BA) not affect the current ratio decrease the total debt-to-equity ratio+ p& ~( k' W0 a1 L
B) decrease the current ratio increase the total debt-to-equity ratio
4 h/ _. l1 }2 A9 W2 o0 i( }C) decrease the current ratio decrease the total debt-to-equity ratio0 y3 p1 T1 a4 W0 u) v
D) not affect the current ratio increase the total debt-to-equity ratio
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答案和详解:
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/ J' n) J9 B, g* l/ V- BQuestion 68/ _8 E7 |: N) J6 w5 k y# ]
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The financial analyst for Markham Inc. has reviewed the most recent financial statements and observed that while sales are up 10%, trade payables are up 20% and short-term liabilities are unchanged. There has also been an increase in advances from customers, also a liability. Based on this information, which of the following effects on Markham’s liquidity are most likely with respect to these changes?0 a, O" U4 v8 B! z5 y6 g! f
Short-term borrowings Advances to customers
/ U' D) {" T& [% J7 AA) Stable or decreased risk of liquidity problems Deteriorating liquidity position& T% M, Z/ }! ?0 Q" w; h/ j
B) Increased risk of liquidity problems Stable or improving liquidity position
5 p- h, ]8 w8 x- hC) Increased risk of liquidity problems Deteriorating liquidity position& J. e4 M( a' N o- h
D) Stable or decreased risk of liquidity problems Stable or improving liquidity position @, a" @) G; f
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答案和详解:
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Question 698 u: C% {/ Q* C, U
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An analyst prepared the following selected horizontal common-size balance sheet data for Spider Corporation:
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In the base year, Spider’s current ratio was 1.5. Spider’s current ratio as of December 31, 20X7 is closest to:
1 `4 p# q7 T3 }0 X3 {9 VA) 0.86.
& P, Z* g! z! ^7 O" a0 r* c) KB) 1.50.
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D) 1.16.
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Question 70- J' c7 K4 i9 |0 T5 B5 i
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Edelman Enginenering is considering including an overhead pulley system in this year's capital budget. The cash outlay for the pully system is $22,430. The firm's cost of capital is 14%. After-tax cash flows, including depreciation are $7,500 for each of the next 5 years. ' h5 d4 A9 i" h" Z9 ~
Calculate the internal rate of return (IRR) and the net present value (NPV) for the project, and indicate the correct accept/reject decision.) f0 ~4 ]. d# P( t
NPV IRR Accept/Reject
$ e3 ]' W$ C& W+ t5 a; o4 d/ q) RA) $15,070 14% Accept
* N- z( I" B y/ L- mB) $15,070 14% Reject/ X: f3 K4 B5 G m
C) $3,318 20% Accept
5 G# V. g2 F Z5 f; R3 @. oD) $3,318 20% Reject
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4 B- H" n- I6 R' I8 z" S) l答案和详解:8 V! u1 a( m3 M+ ]
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