|
|
本帖最后由 catherine 于 2015-7-17 09:19 编辑 $ Q) v" D/ q7 g; ?
2 Q* g3 T: u1 i
Question 66
, L+ Z$ M. e3 h; E+ g( P4 O! e& c% M2 w; l( n& o
Which of the following items for a mutual funds company is least likely to be considered an operating item on the income statement?
; o% N) O+ D* e: T8 z' KA) Interest income.) Y/ z' @7 }4 j# U a: Z0 z
B) Interest expense.0 c; L% O, A2 N5 A
C) Income tax expense.
0 L3 O+ ?$ _% w6 xD) Financing expenses. `, b& v1 T4 q2 c, Z! q$ Q
# u( u6 ^' e% B6 A6 g4 J/ B
答案和详解：
2 A/ k5 I2 U. y
" i% O& Q6 Z# I& M7 F9 q# c- K( o5 W4 @
Question 67' @, o& ~& B( B3 Y
4 Y; M: ^: o: ~ x1 C
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:
, ]' r# g/ Q7 U; H4 [+ pTake-or-pay contract Sale of receivables with recourse/ e/ B! u- t2 q, |* v9 Y
A) not affect the current ratio decrease the total debt-to-equity ratio
, m' |' l5 P3 gB) decrease the current ratio increase the total debt-to-equity ratio
+ j1 G7 D. q* R# x% V! _! O* U9 p5 WC) decrease the current ratio decrease the total debt-to-equity ratio
7 k0 ^7 U m* `D) not affect the current ratio increase the total debt-to-equity ratio( x$ @& v' X1 B: P1 G
8 {) N; ~* w o$ t- U
答案和详解：
8 |7 J, w+ X5 P
% U0 g7 \ y! c; _4 ~ 8 K! k. D) Q7 E) M. A
Question 68! C. ?5 F2 V0 u* r. l- H
# u5 M% G3 v7 Q% P
The 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?
d; J/ c- b( u; ?& P Short-term borrowings Advances to customers
! O4 o$ g7 _4 s( d3 e7 }8 gA) Stable or decreased risk of liquidity problems Deteriorating liquidity position v, D {0 w, z5 J' J
B) Increased risk of liquidity problems Stable or improving liquidity position2 d6 i$ K: B2 S( ] C# x
C) Increased risk of liquidity problems Deteriorating liquidity position
. R ^- u* {% o& r. DD) Stable or decreased risk of liquidity problems Stable or improving liquidity position
4 [* h& X* `3 n4 ~
1 c3 h) n& h/ I8 W& [1 |6 d答案和详解：6 a8 U/ _8 d0 Y' X
& K+ _ g9 M. C) f. O3 M* O
- u1 x5 {& C. G0 v4 d* `Question 69
$ v+ t& w7 ~; b* j
+ h$ K1 _' Q5 L$ c6 oAn analyst prepared the following selected horizontal common-size balance sheet data for Spider Corporation:
i7 b# @4 u. X+ F9 J
0 l1 ` f5 }6 t, b4 u
3 @5 e$ U3 _4 W) M) h, Z4 ^
$ j( C) w0 g% E; Z
In the base year, Spider’s current ratio was 1.5. Spider’s current ratio as of December 31, 20X7 is closest to:; O1 f& m) c3 V% ^( }) R
A) 0.86.. o9 D( _/ w/ s ` [
B) 1.50.
$ w. z9 N7 ` @7 s/ J/ DC) 1.29.
- [6 {$ Y& z4 U* P2 uD) 1.16.
- q/ u$ f2 Q, ~4 K) D
% f2 l& c7 @( v* ?. o6 t) a9 U答案和详解：: U( |" A! S0 s
3 |( l9 O' N( m0 T
; B1 r! H! N2 u" `9 R2 l& ^Question 70. K0 }5 r( p$ D1 B% ?) y, |1 o
6 ^/ L6 F" S! HEdelman 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.
$ `7 h7 A5 L, J- Z; ]Calculate the internal rate of return (IRR) and the net present value (NPV) for the project, and indicate the correct accept/reject decision.
* Q d! w: l9 T5 O" PNPV IRR Accept/Reject- h4 k' Q3 Y% H
A) $15,070 14% Accept
& d& b' q8 V/ S! b+ pB) $15,070 14% Reject# s, ^. v0 D J4 a1 M( w- H. e
C) $3,318 20% Accept
( s+ y: N% ~+ ~- v" ]D) $3,318 20% Reject9 q4 n; s! a1 q% q. p$ M
4 {% R2 s$ l: d: b0 X9 R
答案和详解：3 d. Z6 {2 m6 J5 Q
7 @- ^3 R+ U/ l5 i2 M. k |
|
发表于 2015-7-17 09:18:19
楼主
