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本帖最后由 catherine 于 2015-7-17 09:19 编辑 . J& s; r6 I, c4 Q r1 z5 ]1 [
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Question 66
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Which of the following items for a mutual funds company is least likely to be considered an operating item on the income statement?7 V. I6 m0 U0 Q& S
A) Interest income.5 O/ ^- P# Q6 W" E$ Q2 C# X: a* P2 M
B) Interest expense.2 F6 U5 L5 v a; D" [
C) Income tax expense.: d) d' L+ a6 @& M$ \: T5 x
D) Financing expenses.
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答案和详解:2 q$ a; T/ @# J# w
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Question 67; q h* y1 K# ~0 |' q+ R
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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:
, \& X' ?; f! X$ v$ ?Take-or-pay contract Sale of receivables with recourse8 S( k6 r% i. n" G, E
A) not affect the current ratio decrease the total debt-to-equity ratio# m+ w0 |1 _' z; [, \2 Y2 O
B) decrease the current ratio increase the total debt-to-equity ratio, K- p/ w2 g4 V' @
C) decrease the current ratio decrease the total debt-to-equity ratio
{8 z$ z8 c. U* S1 @D) not affect the current ratio increase the total debt-to-equity ratio
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答案和详解:
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" C$ z* t4 [/ r; s$ k. AQuestion 686 E7 z+ }. J( ]
2 W j. i6 q3 _ o: o% J* hThe 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?
; V+ ]* y' T' s w Short-term borrowings Advances to customers% G' r2 N" x3 t" t8 `+ j
A) Stable or decreased risk of liquidity problems Deteriorating liquidity position
" n0 o8 f2 u( \) L4 z' {! F) a+ uB) Increased risk of liquidity problems Stable or improving liquidity position
& w; s, E% y" K$ \% fC) Increased risk of liquidity problems Deteriorating liquidity position
* n# S+ Q) b9 G; `2 _) E- n4 ^D) Stable or decreased risk of liquidity problems Stable or improving liquidity position9 w% L8 g1 A0 b+ m
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答案和详解: X# s/ E6 B& |! m, D+ ^( K
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1 k$ y7 o; |' E+ z& U2 p) uQuestion 69
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An analyst prepared the following selected horizontal common-size balance sheet data for Spider Corporation:
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5 s) E E8 ]9 z7 V( SIn the base year, Spider’s current ratio was 1.5. Spider’s current ratio as of December 31, 20X7 is closest to:! w5 j, f" j- _ d/ I. [, t
A) 0.86.
- B& m9 M# Y9 VB) 1.50.
% C4 e5 ~- W* ~# T, MC) 1.29.: A9 n0 T. }6 \
D) 1.16.5 ], s5 R' f8 t4 L2 R7 ?* G
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. z4 B3 @( D4 D$ }, V, TQuestion 70) q9 s& {, A$ M" K- W" o; s
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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. 6 s# W: n+ x3 G8 w* r
Calculate the internal rate of return (IRR) and the net present value (NPV) for the project, and indicate the correct accept/reject decision.4 N: ?, z' ^* p0 e/ y
NPV IRR Accept/Reject/ y( K d& k, P
A) $15,070 14% Accept ^' ^# o4 w% v4 W% ]0 i
B) $15,070 14% Reject N0 c$ T- A# g9 I! d
C) $3,318 20% Accept
# h/ c: d8 u& m6 J& V" x; f* ^2 y6 KD) $3,318 20% Reject0 E/ q8 j" f! f$ Q$ Q7 V8 Y7 K
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