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本帖最后由 catherine 于 2015-7-17 09:19 编辑
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; c( c1 j) [% ~" h: \' y* tQuestion 66
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8 ^" h! v% o, s5 @/ A2 LWhich of the following items for a mutual funds company is least likely to be considered an operating item on the income statement?" W1 k5 R" D5 M" |8 Q$ ^
A) Interest income.8 v# {5 K# P6 D- D Y% @* j
B) Interest expense.* J" w+ n: w# p- c3 t, a! `3 ^* k Y
C) Income tax expense.2 ?# [. r* z5 |
D) Financing expenses.
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1 Y- |7 z* w1 B* j8 L& K3 wQuestion 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:# W4 w4 p( W! M6 K. f; v8 c. f
Take-or-pay contract Sale of receivables with recourse7 T6 S) _+ `( ~
A) not affect the current ratio decrease the total debt-to-equity ratio' I( |6 ]0 K& r5 Q K
B) decrease the current ratio increase the total debt-to-equity ratio# j# o) E! p: [
C) decrease the current ratio decrease the total debt-to-equity ratio. |9 n8 i q# H J8 [! I& I
D) not affect the current ratio increase the total debt-to-equity ratio7 m5 a) S9 l8 S
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答案和详解:0 E" M- _! o, L) w
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Question 68
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/ ?3 Z1 c, Y3 X eThe 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?
) `7 U% g7 M7 l9 @ Short-term borrowings Advances to customers
% r2 t- q9 j r; I& cA) Stable or decreased risk of liquidity problems Deteriorating liquidity position( c ]" f" J+ g* N! [( p0 U e
B) Increased risk of liquidity problems Stable or improving liquidity position0 q- X. m, n) o1 S" Y# s6 \
C) Increased risk of liquidity problems Deteriorating liquidity position; ?- u, ~& J, h. ?% @2 b1 X0 Q/ C" P
D) Stable or decreased risk of liquidity problems Stable or improving liquidity position; v# f9 F9 } e! U! o$ A+ D# v
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Question 69
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; `9 P: a5 |8 ?" }* u8 _# GAn analyst prepared the following selected horizontal common-size balance sheet data for Spider Corporation:. Z/ b s0 S2 z# [1 U
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6 ^3 b, o; O5 u7 JIn the base year, Spider’s current ratio was 1.5. Spider’s current ratio as of December 31, 20X7 is closest to:
* f# Z' X6 k8 j5 I4 {4 NA) 0.86.2 }8 H M/ P5 p; ~. Z) M" r( W
B) 1.50.% y+ ]6 t1 t& s
C) 1.29.4 Z4 ?" i5 u. V
D) 1.16.
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Question 70
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% d ?$ N* |2 Z! mEdelman 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. 1 M' o( d. c( z+ ]; Q
Calculate the internal rate of return (IRR) and the net present value (NPV) for the project, and indicate the correct accept/reject decision.: k) T3 R. C7 X
NPV IRR Accept/Reject
. \9 y T. d5 m/ ~' w1 ~5 ^A) $15,070 14% Accept
7 _1 C" y8 ^# ?1 \8 T) E" `5 ZB) $15,070 14% Reject2 C0 Y' z+ O1 C! j6 N) Q( ?
C) $3,318 20% Accept
1 f: `; F$ w9 VD) $3,318 20% Reject! K# ]$ I. ?) U
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答案和详解:
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