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本帖最后由 catherine 于 2015-7-17 09:19 编辑 ; i) x9 J: b% ]3 u, w2 L2 g
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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?
" r1 [6 ^8 D$ G' K; H$ G( b) HA) Interest income.% w' ?) u6 B' _$ }
B) Interest expense.3 V$ A" @) j4 c# _" V5 z) r' p# k) X
C) Income tax expense.
/ c0 E/ U' I4 N! ]# S' PD) Financing expenses.
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答案和详解：
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% P: s W% P5 v; T. H6 \4 D! n: {Question 672 y o+ a, {. ]3 y7 \+ J; _0 L
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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:
. L1 N$ p7 N; a, G _" ITake-or-pay contract Sale of receivables with recourse
( Z. m3 a7 K5 `- xA) not affect the current ratio decrease the total debt-to-equity ratio
0 {. c2 e8 E6 ~$ TB) decrease the current ratio increase the total debt-to-equity ratio6 T9 D) M( V7 z% X" L
C) decrease the current ratio decrease the total debt-to-equity ratio5 B2 {6 |3 s \" j1 y! \
D) not affect the current ratio increase the total debt-to-equity ratio
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答案和详解：3 H- w; c2 M1 p( s% H3 v0 m. P
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Question 68
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, Z# l2 R2 R3 I5 F/ q- {1 o xThe 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?
/ H2 @$ v% f& R6 { Short-term borrowings Advances to customers2 V y. k7 o) U6 ^6 p
A) Stable or decreased risk of liquidity problems Deteriorating liquidity position6 J! p* G |8 a* C# a
B) Increased risk of liquidity problems Stable or improving liquidity position& X+ ^- w0 y2 t" i8 r
C) Increased risk of liquidity problems Deteriorating liquidity position
5 g5 L6 b& [/ u- A: }5 x# J% vD) Stable or decreased risk of liquidity problems Stable or improving liquidity position' p2 y6 z: L5 A8 j" n
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答案和详解：
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Question 69
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An analyst prepared the following selected horizontal common-size balance sheet data for Spider Corporation:
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In the base year, Spider’s current ratio was 1.5. Spider’s current ratio as of December 31, 20X7 is closest to:" n, a- V7 L" D5 Z) X$ E
A) 0.86.5 w5 c; _% t' W
B) 1.50.
& u0 R# Z6 {: _- AC) 1.29." U/ v/ W+ o$ l7 L) I1 [0 Q+ ~( s f
D) 1.16.
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答案和详解：2 x4 ]$ Q, s( e* E
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4 C4 Y1 Y& c: y/ f. L1 h$ YQuestion 70) ]% f0 T* E6 P# K3 E7 B6 s- a
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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 $7,500 for each of the next 5 years. 5 p0 ^# W" B7 J% x$ k0 w5 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.
8 p" H- E- r" \6 S% r3 VNPV IRR Accept/Reject( H3 P+ |. F, W4 @2 k4 J* R5 H
A) $15,070 14% Accept) U( ~- T- i3 p; @5 y, }
B) $15,070 14% Reject) F: N8 H- {- b- K+ B
C) $3,318 20% Accept
9 x0 }+ n$ r6 t0 \0 ZD) $3,318 20% Reject
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发表于 2015-7-17 09:18:19
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