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本帖最后由 catherine 于 2015-7-17 09:19 编辑 . {) H- x9 [! v
[" b0 p: U, t' b( H# O! MQuestion 663 R4 N' y0 F5 B/ |4 a
/ Z4 `* \4 U1 X7 K1 ZWhich of the following items for a mutual funds company is least likely to be considered an operating item on the income statement?( R0 e+ ]! q2 G7 h9 t3 b
A) Interest income.
1 E7 L2 g' c, WB) Interest expense.' u! l0 C! Z7 Y+ k( Y: y1 b
C) Income tax expense.# s& E- `6 p8 t% R
D) Financing expenses.3 ?, M1 }- C$ u4 X M; M$ G
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答案和详解:" E) m. J- h' a: t7 G
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Question 677 X0 A9 }. i( V+ U
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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:
* ~( q1 H# q( M+ y2 z4 E: uTake-or-pay contract Sale of receivables with recourse% m) I' f1 ^7 ^
A) not affect the current ratio decrease the total debt-to-equity ratio; G+ F7 ^% `' M8 t1 X
B) decrease the current ratio increase the total debt-to-equity ratio
# e0 T; l0 k" v$ @! @5 e9 e' AC) decrease the current ratio decrease the total debt-to-equity ratio
" c+ G; M: ?2 T6 c0 J2 dD) not affect the current ratio increase the total debt-to-equity ratio+ a5 C' R, Z2 G" ^ A, o8 C
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答案和详解:1 Q' _- ~" ]7 l
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Question 68: l* d$ r/ Z% H
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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?+ |9 e" M0 E% F8 {" \8 S( {
Short-term borrowings Advances to customers: _7 x& M" L6 C& Q2 b0 x
A) Stable or decreased risk of liquidity problems Deteriorating liquidity position6 x; B" u+ V0 I. N% J6 w/ H: i& ^
B) Increased risk of liquidity problems Stable or improving liquidity position
1 l4 j3 ~! l5 p1 ~9 IC) Increased risk of liquidity problems Deteriorating liquidity position
. A2 \( X1 k! i; H2 _D) Stable or decreased risk of liquidity problems Stable or improving liquidity position" Y, K) L* e G$ I% Z/ V+ i9 k+ _: ]
/ k' Y; P! ]% U答案和详解:! m# ?0 p- ]5 S! m+ s
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Question 69
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An analyst prepared the following selected horizontal common-size balance sheet data for Spider Corporation:1 u! A# t5 k& D3 [6 F
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( J( a* f+ \8 h. L/ h4 D9 lIn the base year, Spider’s current ratio was 1.5. Spider’s current ratio as of December 31, 20X7 is closest to:1 X3 @4 j+ Y( e4 @$ d& y) E
A) 0.86.
' M! [4 `) w! ^5 f* y) L/ FB) 1.50.
- M8 Y! I8 ?/ ~5 l; VC) 1.29.
4 o6 y/ K9 L6 t5 l6 Q. pD) 1.16.- o( T2 y! J% D" X
( {, @9 _" B M7 b8 l6 A答案和详解:. T. G2 p. B: o$ i8 U: c
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Question 70
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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 $7,500 for each of the next 5 years. + ~3 t+ l6 S* { L$ F' b: L
Calculate the internal rate of return (IRR) and the net present value (NPV) for the project, and indicate the correct accept/reject decision.
2 K m( w$ e0 c1 S- Z' x: g) }NPV IRR Accept/Reject" o5 R: X4 J8 E" e
A) $15,070 14% Accept
" P. A% ~: f4 `. kB) $15,070 14% Reject3 f; h2 o6 z0 e% m
C) $3,318 20% Accept% |; U+ ?9 V5 D! }& k( z, M1 f9 L
D) $3,318 20% Reject
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答案和详解:
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