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本帖最后由 catherine 于 2015-7-17 09:19 编辑
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6 {( k$ W' R$ a7 s% N9 P9 E) J% IQuestion 669 @ z I% Z6 ]( i! w
- _/ N, E; k/ p$ t+ e4 nWhich of the following items for a mutual funds company is least likely to be considered an operating item on the income statement?8 m. l1 H$ }% E4 _# m8 E
A) Interest income.! q! a' C4 Q) C/ o( Y
B) Interest expense.
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D) Financing expenses.
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答案和详解:9 E* t+ M6 u. U
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4 w9 l1 U) ]/ ^1 X$ `Question 67( g. u4 n7 h# a2 o- k2 ~
0 r4 e3 x7 l3 u' G) hThe 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:4 x- ~/ ~/ b2 z$ @, z/ S/ D0 t; x
Take-or-pay contract Sale of receivables with recourse
1 i" e6 ~1 ] ~ s" dA) not affect the current ratio decrease the total debt-to-equity ratio0 [+ D4 j% U! ~0 i) `0 R( R2 p6 [0 a2 n
B) decrease the current ratio increase the total debt-to-equity ratio
0 {. Z5 [0 g' {C) decrease the current ratio decrease the total debt-to-equity ratio; ?- ^# u% W; n8 ^' M2 F
D) not affect the current ratio increase the total debt-to-equity ratio
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+ ?0 G, |/ {" s5 j; ~* q! n答案和详解:
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3 }; o' V. K6 p) v6 x: {+ D6 cQuestion 68
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* K5 X: ^/ |* P4 sThe 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?
6 G' H, s4 X! |6 S8 P$ y Short-term borrowings Advances to customers
. d! ^, q0 P1 h* A4 T. |A) Stable or decreased risk of liquidity problems Deteriorating liquidity position
6 p2 t- I) E$ R* a( |& U* ~( {/ TB) Increased risk of liquidity problems Stable or improving liquidity position; b( J' R" U$ g8 a. J+ N$ \) H
C) Increased risk of liquidity problems Deteriorating liquidity position
7 `' d! d7 u: ~2 e+ sD) Stable or decreased risk of liquidity problems Stable or improving liquidity position
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+ J2 F$ \5 {. i! C: C1 O答案和详解:: p" }6 H2 F( I* w4 n P8 n
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Question 692 ~) A1 h% f; ~3 y, C- e. B" U
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An analyst prepared the following selected horizontal common-size balance sheet data for Spider Corporation:
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% \8 `: W- V" l! i. w+ vIn the base year, Spider’s current ratio was 1.5. Spider’s current ratio as of December 31, 20X7 is closest to:% T$ a' ~0 I& Z8 E, _" Q Y
A) 0.86.6 R) l9 {5 N( W) X! U! F: f
B) 1.50.. J2 e" B1 ~& @; V& ]$ K8 W
C) 1.29.6 s3 Q, b/ _3 [8 Z: Y/ }
D) 1.16.$ _5 a3 e7 v5 }* _- v7 r
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答案和详解:2 W5 A& R1 y0 M# G x* _
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* x8 V* A# T% T; UQuestion 70$ p# y' X) c' x9 J8 [
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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 $7,500 for each of the next 5 years. ' t( Y2 y; C: j! b5 n$ h
Calculate the internal rate of return (IRR) and the net present value (NPV) for the project, and indicate the correct accept/reject decision.
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7 x; \( v E% Q' v% m- yA) $15,070 14% Accept
4 x/ B8 i9 F" w) LB) $15,070 14% Reject
0 P4 w9 E( i3 U/ W' W. VC) $3,318 20% Accept- G6 ]; T% L! Q* Q
D) $3,318 20% Reject
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& o' k$ `1 {3 x! v \答案和详解:9 J. ?5 S( e3 ]& R% m
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