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1、1. The person generally directly responsible for overseeing the cash and credit functions, financial planning, and capital expenditures is the: A. treasurer. B. director. C. controller. D. chairman of the board. E. chief operations officer. A 财务主管 2. The mixture of debt and equity used by a firm to
2、finance its operations is called: A. working capital management. B. financial depreciation. C. cost analysis. D. capital budgeting. E. capital structure. E. capital structure 3. The primary goal of financial management is to: A. maximize current dividends per share of the existing stock. B. maximize
3、 the current value per share of the existing stock. C. avoid financial distress. D. minimize operational costs and maximize firm efficiency. E. maintain steady growth in both sales and net earnings. B最大化当前每股价值现有的股票。 4. Working capital management includes decisions concerning which of the following?
4、I. accounts payable II. long-term debt III. accounts receivable IV. inventory A. I and II only B. I and III only C. II and IV only D. I, II, and III only E. I, III, and IV only 1. Net working capital is defined as: A. total liabilities minus shareholders equity. B. current liabilities minus sharehol
5、ders equity. C. fixed assets minus long-term liabilities. D. total assets minus total liabilities. E. current assets minus current liabilities. 2. Earnings per share is equal to: A. net income divided by the total number of shares outstanding. B. net income divided by the par value of the common sto
6、ck. C. gross income multiplied by the par value of the common stock. D. operating income divided by the par value of the common stock. E. net income divided by total shareholders equity. 3. Which of the following are included in current assets? I. equipment II. inventory III. accounts payable IV. ca
7、sh A. II and IV only B. I and III only C. I, II, and IV only D. III and IV only E. II, III, and IV only 4. Which one of the following assets is generally the most liquid? A. inventory B. buildings C. accounts receivable D. equipment E. patents 5. Total assets are $900, fixed assets are $600, long-te
8、rm debt is $500, and short-term debt is $200. What is the amount of net working capital? A. $0 B. $100 C. $200 D. $300 E. $400 6. Arts Boutique has sales of $640,000 and costs of $480,000. Interest expense is $40,000 and depreciation is $60,000. The tax rate is 34%. What is the net income? A. $20,40
9、0 B. $39,600 C. $50,400 D. $79,600 E. $99,600 7. Thompsons Jet Skis has operating cash flow of $218. Depreciation is $45 and interest paid is $35. A net total of $69 was paid on long-term debt. The firm spent $180 on fixed assets and increased net working capital by $38. What is the amount of the ca
10、sh flow to stockholders? A. -$104 B. -$28 C. $28 D. $114 E. $142 某企业去年的销售净利率为 5.73%，资产周转率为 2.17；今年的销售净利率为 4.88%，资产周转率为 2.88。若两年的资产负债率相同，今年的权益净利率比去 年的变化趋势为（ ） 。 A.下降 B.不变 C.上升 D.难以确定 【答案】C 【解析】权益净利率=销售净利率资产周转率权益乘数 去年的权益净利率=5.73%2.17A=12.43%A 今年的权益净利率=4.88%2.88A=14.05%A 因此，权益净利率今年比去年呈上升趋势。 ABC 公司是一个有较
11、多未分配利润的工业企业。下面是上年度发生的几笔经济业务，在这 些业务发生前后，速动资产都超过了流动负债。请回答下列问题。 （1）长期债券投资提前变卖为现金，将会（ ）。 A.对流动比率的影响大于对速动比率的影响 B.对速动比率的影响大于对流动比率的影响对速动比率的影响大于对流动比率的影响 C.影响速动比率但不影响流动比率 D.影响流动比率但不影响速动比率 长期债券投资提前变现， 使现金增加， 流动负债不变， 因此会影响流动比率和速动比率， 可将 C、D 排除。现金是速动资产项目，其变化会引起流动资产和速动资产增长相同数额， 由于流动比率大于速动比率， 因此当二者计算公式的分子增加相同数额时，
12、速动比率变化幅 度要大，应当选择 B. 例如,原来的流动资产为 500 万元，速动资产为 400 万元，流动负债为 200 万元，则原 来的流动比率为 500 200*100%250%，速动比率为 400 200*100%200%，现在把 100 万元的长期债券投资变为现金，则流动比率变为：（500100） 200*100%300%，增加 （300%250%） 250%20%， 速动比率变为： （400100） 200*100%250%， 增加 （250% 200%） 200%25%，显然，25%大于 20%。 2）赊购原材料若干，将会（ ） 。 A.增大流动比率 B.降低流动比率降低流动比率
13、 C.降低营运资本 D.增大营运资本 赊购原材料使流动资产和流动负债等额增加，所以营运资本不变，则应排除赊购原材料使流动资产和流动负债等额增加，所以营运资本不变，则应排除 C、D，又，又 因为， 已知业务发生前后， 速动资产都超过了流动负债， 即流动比率大于因为， 已知业务发生前后， 速动资产都超过了流动负债， 即流动比率大于 100%， 因此， 因此， 流动比率分子、分母同时增加相同金额，流动比率会降低，所以应排除流动比率分子、分母同时增加相同金额，流动比率会降低，所以应排除 A，即应该选择，即应该选择 B。 由杜邦财务分析体系可知， 权益净利率等于资产净利率乘以权益乘数。 因此， 企业的负
14、债程度越高，权益净利率就越大。 （错） 本题的主要考核点是杜邦财务分析体系。由杜邦财务分析体系可知，权益净本题的主要考核点是杜邦财务分析体系。由杜邦财务分析体系可知，权益净 利率等于资产净利率乘以权益乘数。因此，在资产净利率不变的前提下，权利率等于资产净利率乘以权益乘数。因此，在资产净利率不变的前提下，权 益净利率与权益乘数呈同向变化。该题的错误在于缺少资产净利率是否发生益净利率与权益乘数呈同向变化。该题的错误在于缺少资产净利率是否发生 变化的假设，因为如果资产净利率下降的幅度大于权益乘数提高的幅度，尽变化的假设，因为如果资产净利率下降的幅度大于权益乘数提高的幅度，尽 管企业的负债程度提高，但
15、权益净利率可能保持不变或变大。管企业的负债程度提高，但权益净利率可能保持不变或变大。 1. A _ standardizes items on the income statement and balance sheet as a percentage of total sales and total assets, respectively. A. tax reconciliation statement B. statement of standardization C. statement of cash flows D. common-base year statement E. co
16、mmon-size statement 2. The cash ratio is measured as: A. current assets divided by current liabilities. B. current assets minus cash on hand, divided by current liabilities. C. current liabilities plus current assets, divided by cash on hand. D. cash on hand plus inventory, divided by current liabilities. E. cash on hand divided by current liabilities 3. The equity multiplier ratio is measured as total: A. equity divided by total assets
