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本帖最后由 catherine 于 2015-7-17 09:19 编辑 & j d6 O' t# m K9 @
! n: E/ h' s! C1 f& OQuestion 66
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Y6 H! W' n5 Q# P. P0 B$ GWhich of the following items for a mutual funds company is least likely to be considered an operating item on the income statement?7 v% }6 e s% T; J+ J/ V
A) Interest income.6 n. J+ c* i* V4 Z
B) Interest expense.6 N n% z5 t2 J% z$ b
C) Income tax expense.
( b* K, D( N. }! k. d& uD) Financing expenses.
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, `8 R8 R1 z; q$ n3 ], i. y3 y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:
+ _9 d" M8 I$ bTake-or-pay contract Sale of receivables with recourse) C* ~$ P) i5 z3 ~! w% e
A) not affect the current ratio decrease the total debt-to-equity ratio
9 d0 H& X1 @7 C8 m( f# ?0 NB) decrease the current ratio increase the total debt-to-equity ratio7 k4 c6 _8 W5 j. K+ S) F
C) decrease the current ratio decrease the total debt-to-equity ratio4 C4 k% R7 k1 i
D) not affect the current ratio increase the total debt-to-equity ratio
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6 k& q5 t0 ~2 W4 @Question 68
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2 u i, m5 F2 s+ FThe 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?
1 T8 Q8 z1 g' `% J9 c- `! @! L Short-term borrowings Advances to customers" ~ y: N/ C# U; M4 S+ U
A) Stable or decreased risk of liquidity problems Deteriorating liquidity position: @( o" Z! K! c! `3 d m6 h# l$ M6 H
B) Increased risk of liquidity problems Stable or improving liquidity position
" a1 U" |. [; Z9 h1 Y% x# bC) Increased risk of liquidity problems Deteriorating liquidity position& x( {) M- W* r4 y3 d1 y
D) Stable or decreased risk of liquidity problems Stable or improving liquidity position
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6 J' V3 a8 ~1 u% [Question 696 K2 Z% M3 m# f) D2 O: X' X' ?9 [
, T( `2 x; y) a7 IAn analyst prepared the following selected horizontal common-size balance sheet data for Spider Corporation:2 P: ~; u" l7 H" ^# U; ^6 l
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. r9 C! ?% a" q$ IIn the base year, Spider’s current ratio was 1.5. Spider’s current ratio as of December 31, 20X7 is closest to:
$ B; [9 H R. U+ f* Z+ u" p- ]A) 0.86.
' Y$ {- }: P* X4 M) \6 I( s0 G7 @B) 1.50.2 o* |, `! C* x
C) 1.29.
! ^! D& K8 t' e3 y- n1 eD) 1.16.
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Question 70# P- }4 c! }4 M: r* V |. Y+ A! _
, H; s5 w; m, @7 z0 [' NEdelman 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 u& Z. J S8 l2 T
Calculate the internal rate of return (IRR) and the net present value (NPV) for the project, and indicate the correct accept/reject decision.) W' H `8 a8 Q
NPV IRR Accept/Reject
E+ u" X% B; h" AA) $15,070 14% Accept
: Z- {8 s5 G' J# S) ]5 {5 m+ }& aB) $15,070 14% Reject
0 U0 @3 _) o4 l l& b- f% m% @" XC) $3,318 20% Accept
6 {' \. V3 G, U9 o9 fD) $3,318 20% Reject2 ?4 L5 h' X$ S& F& r# N
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答案和详解:
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