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本帖最后由 catherine 于 2015-7-17 09:19 编辑
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( L2 @- |9 R9 u2 q, O0 M! lQuestion 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?
, I% H l% c: ?A) Interest income.4 Y: j) N% ]- C' s
B) Interest expense.
" q+ L0 ]( U4 NC) Income tax expense.. h4 ?. C& [$ J2 L; x/ l+ G0 [
D) Financing expenses.
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2 h! O( f; W. Q6 S7 @答案和详解：6 l) X; |( [) r. o ^1 K- b
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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: m0 T& B5 F5 D- Y! e# ~8 A
Take-or-pay contract Sale of receivables with recourse, z( A+ j% H/ _7 o4 u+ c9 r
A) not affect the current ratio decrease the total debt-to-equity ratio5 U% K' n! v9 l2 W% g
B) decrease the current ratio increase the total debt-to-equity ratio
p3 Y) R9 k9 r5 e. u1 ^! P/ F. JC) decrease the current ratio decrease the total debt-to-equity ratio
$ p( `4 r. m& g( }; ?3 G+ U' t" AD) not affect the current ratio increase the total debt-to-equity ratio( y+ X7 g( D- C$ t
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答案和详解：
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1 \! k. X' Y; ZQuestion 68
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) }; i+ f9 n7 N* k2 @ p% Y( 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?4 h8 D( s4 }& \
Short-term borrowings Advances to customers
% M8 d _( G9 g6 S# q# SA) Stable or decreased risk of liquidity problems Deteriorating liquidity position
: U6 M+ z# K# H. {- t4 y! i$ xB) Increased risk of liquidity problems Stable or improving liquidity position
0 G2 R$ H, m0 ^- h: T9 |9 JC) Increased risk of liquidity problems Deteriorating liquidity position$ s! E" f/ m( u* L, L
D) Stable or decreased risk of liquidity problems Stable or improving liquidity position
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& L3 f H* s4 M. HQuestion 69
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An analyst prepared the following selected horizontal common-size balance sheet data for Spider Corporation:
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/ c; l `+ N* `( W# _, N, AIn the base year, Spider’s current ratio was 1.5. Spider’s current ratio as of December 31, 20X7 is closest to:
2 a! @) E0 C n8 N. v: NA) 0.86.5 w+ C, A( h# @) H# s' {2 s
B) 1.50.2 [2 [, J% A% j; u
C) 1.29.
# C& B- |. y( x. N; F, JD) 1.16.
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Question 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 $7,500 for each of the next 5 years. ( `- R# q9 r- f/ l$ h5 j
Calculate the internal rate of return (IRR) and the net present value (NPV) for the project, and indicate the correct accept/reject decision.9 B8 f- m1 x( n4 E" Y
NPV IRR Accept/Reject
% R7 _: q0 D2 I* r% g( t! BA) $15,070 14% Accept7 j/ f$ A% p7 J [4 Z5 T
B) $15,070 14% Reject2 G6 s) L! S* ?. ~8 C0 k( t9 y) W
C) $3,318 20% Accept" G8 i/ i' e2 k/ O- X2 H8 ^
D) $3,318 20% Reject
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发表于 2015-7-17 09:18:19
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