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本帖最后由 catherine 于 2015-7-17 09:19 编辑
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Question 66* [, a8 m/ k% C
& l# V9 z7 r4 w' }Which of the following items for a mutual funds company is least likely to be considered an operating item on the income statement? h# U: I6 n: N7 B, p( ?
A) Interest income.
3 \8 Z# m2 d6 Z3 YB) Interest expense.
9 ^/ ]) } h( o3 ^1 \. l+ RC) Income tax expense.. g# ^5 S% Y$ ~$ w* l% K. U
D) Financing expenses.: Z9 ?# Y) f$ m9 K$ Q! F
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答案和详解:
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Question 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:
6 ]) i5 k2 K# x- [% s3 u1 n$ KTake-or-pay contract Sale of receivables with recourse
1 y9 K. E; w! `( QA) not affect the current ratio decrease the total debt-to-equity ratio
5 w% l6 J$ H* v5 N% VB) decrease the current ratio increase the total debt-to-equity ratio2 v7 P+ Z( F2 U- Q, [9 q' ?
C) decrease the current ratio decrease the total debt-to-equity ratio" e1 s8 K" H" g
D) not affect the current ratio increase the total debt-to-equity ratio
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* k4 r5 L! O2 A; T+ }答案和详解:. `( I- v# Q8 U& S
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+ m- w1 b+ h4 ], c8 vQuestion 68& n2 M) y0 R. g! {( T/ a* 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?; a* p" P" e$ ~. S
Short-term borrowings Advances to customers
+ i( G* i6 N; J dA) Stable or decreased risk of liquidity problems Deteriorating liquidity position
6 E) U7 n% b7 D+ `0 ~B) Increased risk of liquidity problems Stable or improving liquidity position
; i5 v4 d/ y* O+ I5 S W4 V" jC) Increased risk of liquidity problems Deteriorating liquidity position
, M8 W r+ b& C# z7 q) eD) Stable or decreased risk of liquidity problems Stable or improving liquidity position
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# c3 e+ E7 X2 E2 C5 j答案和详解:7 Y7 S% L4 r8 Y* ?
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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:
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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:
- \+ J9 W+ ]8 z/ ~A) 0.86.: f9 b1 ^% c' f9 C7 N1 D
B) 1.50.
* B/ j+ y u# ~, R* M/ MC) 1.29.
6 W! G: k J( X, W) j! RD) 1.16.9 T8 p' K. i7 [* P" B) {
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Question 70
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6 |7 a- N: P* \8 `# z3 h! yEdelman 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.
. k3 \* j& o' g! a+ w* i1 vCalculate the internal rate of return (IRR) and the net present value (NPV) for the project, and indicate the correct accept/reject decision.
j0 l8 Z; R- T. W* n. v" wNPV IRR Accept/Reject
; y; e& h! `, zA) $15,070 14% Accept! A* Y5 J3 `6 k) d) {
B) $15,070 14% Reject
' V5 \( `. {; I+ @C) $3,318 20% Accept$ l1 [; ~8 \- g. q0 V) q
D) $3,318 20% Reject* r5 z' T/ g( o
2 S2 @% Q) I, S: `# y' I答案和详解:
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