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本帖最后由 catherine 于 2015-7-17 09:19 编辑 . B6 N; |) G; `- }. n" H/ N5 O
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Question 66
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7 S1 G- M0 K* c7 @4 X; sWhich of the following items for a mutual funds company is least likely to be considered an operating item on the income statement?
3 c: n8 E2 t. ]A) Interest income.# r, {: z$ {& D [, E; Q1 u2 \& K I2 I
B) Interest expense.. j. s# g& t" [1 P( \6 ~
C) Income tax expense.
7 K, ^! }+ V5 L$ S4 G- p( ^! a3 CD) Financing expenses.! a2 Z( k' r6 X( x7 ~2 ~
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答案和详解:8 {# B( o' o5 q6 k5 x4 L {
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Question 67
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2 M: \9 z% Y' mThe 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:1 W! O' k& L8 n- N
Take-or-pay contract Sale of receivables with recourse; G; U+ [* ` P0 ]
A) not affect the current ratio decrease the total debt-to-equity ratio' P. c& L2 p1 m* N9 q; r) R
B) decrease the current ratio increase the total debt-to-equity ratio: F! ^( u6 l6 `# s
C) decrease the current ratio decrease the total debt-to-equity ratio
4 N5 |6 }8 Y( F, @( [& n, a( iD) not affect the current ratio increase the total debt-to-equity ratio5 C& w2 s0 ^. Z; B2 m/ I, M: e: q+ ]
7 Y$ @1 Y; ^9 j答案和详解:
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Question 68
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, A. ]2 Z( {! qThe 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?
( M7 R" E7 r4 V4 E, U1 |; Y7 k, b Short-term borrowings Advances to customers
. F" @6 Z8 }% r, xA) Stable or decreased risk of liquidity problems Deteriorating liquidity position
: v. l) s4 _$ R! a5 HB) Increased risk of liquidity problems Stable or improving liquidity position
% P' i- x0 O3 S7 c& jC) Increased risk of liquidity problems Deteriorating liquidity position
* |2 K( w1 V$ Z* eD) Stable or decreased risk of liquidity problems Stable or improving liquidity position
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# H R0 h9 z+ W* \: x答案和详解:
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2 T- Q9 f+ B; F/ Z/ E8 \! ?9 kQuestion 695 p) K' L4 U# H+ d5 @# H& J
# {) I) Z. i5 s8 |9 l( cAn analyst prepared the following selected horizontal common-size balance sheet data for Spider Corporation:
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9 y8 G: t! K* `9 n* J' IIn the base year, Spider’s current ratio was 1.5. Spider’s current ratio as of December 31, 20X7 is closest to:
N* C- L M: _6 j+ T5 hA) 0.86.
0 Y8 A% I) t# g/ [- h( r2 YB) 1.50.0 ^) J) `; l0 G4 T; p/ o
C) 1.29.
1 |/ s* D) q. |+ a3 ]D) 1.16.' G! @" F+ j9 ~4 V* {, f4 B
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# _0 h% N! S8 ~$ ?9 Z& w3 Z& uQuestion 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. $ k3 @+ Z0 j- ]1 v% S
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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A) $15,070 14% Accept: ?' n/ }: L' R% P
B) $15,070 14% Reject
" p' o3 e" `8 v" R* MC) $3,318 20% Accept( l0 k' Y0 E% q* o
D) $3,318 20% Reject: L% S0 b- l/ y( M2 q! M
0 ~; y* d7 ?4 }答案和详解:$ z1 n4 q* G; v: b. q, B
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