CFA Level 1 － 模考试题(1)(PM) Q66-70

catherine

' r, `8 o# S6 V  |& _  j( ?Question 66
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9 z# e$ k) r! T* b; h4 \Which of the following items for a mutual funds company is least likely to be considered an operating item on the income statement?
A)    Interest income.
. [. S7 ]! u  n8 Q" s4 r" eB)   Interest expense.
/ G) [! O: o0 RC)   Income tax expense.
D)   Financing expenses.

答案和详解：
# C) \& s; }( A) F% e

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Question 67

4 ~/ S! f' K* y5 s& y0 X# GThe 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:
Take-or-pay contract         Sale of receivables with recourse
A)    not affect the current ratio       decrease the total debt-to-equity ratio
B)   decrease the current ratio       increase the total debt-to-equity ratio
C)   decrease the current ratio       decrease the total debt-to-equity ratio
+ s5 g/ t& k- zD)   not affect the current ratio       increase the total debt-to-equity ratio

答案和详解：

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Question 68

. `% _8 D/ g1 |0 u8 JThe 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?
: g# h  |* `& ~2 I# }3 w: K       Short-term borrowings                    Advances to customers
7 h9 a5 d# w' \. F. G2 s2 A# VA)    Stable or decreased risk of liquidity problems    Deteriorating liquidity position
3 Y& {, i+ Q9 CB)   Increased risk of liquidity problems               Stable or improving liquidity position
) b8 d: c: ~( s+ y" V9 }+ xC)   Increased risk of liquidity problems               Deteriorating liquidity position
D)   Stable or decreased risk of liquidity problems    Stable or improving liquidity position
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3 h# R% J5 B  `答案和详解：
4 N, h- j" I! {+ R6 Y

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2 s# Q. X5 ]) a& YQuestion 69
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An analyst prepared the following selected horizontal common-size balance sheet data for Spider Corporation:
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/ d, c) h9 J, Y. TIn the base year, Spider’s current ratio was 1.5. Spider’s current ratio as of December 31, 20X7 is closest to:
5 v( H" \' @( O- f. ZA)    0.86.
& _2 c) H6 p% ^" yB)   1.50.
( U) k+ i: T( F' A, p$ MC)   1.29.
D)   1.16.
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( I0 u" X& p- }, W答案和详解：

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# _8 j5 C% E3 o8 D$ h0 eQuestion 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.
Calculate the internal rate of return (IRR) and the net present value (NPV) for the project, and indicate the correct accept/reject decision.
NPV        IRR         Accept/Reject
A)    $15,070     14%        Accept
# K$ R* F( e: O0 b( i, n' tB)   $15,070     14%        Reject
$ g) J  n+ ]! A2 M$ j" P" Y* oC)   $3,318     20%        Accept
/ Y) Z3 U- P5 I" M; T0 x4 q0 K1 X; n4 SD)   $3,318     20%        Reject

答案和详解：
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catherine

换个方式发布哦~
大家可以先做题目，然后再回复看答案哈~

Ean

THANKS!

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。。。。。

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