1、精品A. balance sheetC. cash flow statement2. An increase in which one operating cash flow?A.employee salariesC. building maintenance3. The process of planning investments is called:A. working capital management.C. capital budgeting.4. Cash equivalents include (A. time depositsC. accounts receivable筆試題

2、考試題型：一、從下列選項中選出最佳答案(40x1.5=60分)二、計算題(10x2=20分)三、段落中英互譯(5x4=20分)PartIChoicequestions40x1.5=60points)(Pleasewriteyouranswerinthefollowingtable)1.Financialstatementdoesnotinclude()B.incomestatementD.workingsheetofthefollowingwillincreasetheB.officerentD.equipmentdepreciationandmanagingafirmslong-termB.

3、financialdepreciation.D.capitalstructure.)B.inventoriesD.prepaidexpenses5. Theinternalrateofreturnforaprojectwillincreaseif:A.theinitialcostoftheprojectcanbereduced.B.thetotalamountofthecashinflowsisreduced.C.therequiredrateofreturnisreduced.D.thesalvagevalueoftheprojectisomittedfromtheanalysis.6. W

4、hichofthefollowingbelongstocurrentliabilities?()A.mortgagespayableB.prepaidexpensesC.notespayableD.bondspayable7. Youspent$500lastweekfixingthetransmissioninyourcar.Now,thebrakesareactingupandyouaretryingtodecidewhethertofixthemortradethecarinforanewermodel.Inanalyzingthebrakesituation,the$500youspe

5、ntfixingthetransmissionisa(n)_cost.A.opportunityB.sunkC.incrementalD.fixed8. Whichofthefollowingstatementsarecorrectconcerningdiversifiablerisks?I. Diversifiableriskscanbeessentiallyeliminatedbyinvestinginseveralsecurities.II. Themarketrewardsinvestorsfordiversifiableriskbypayingariskpremium.III. Di

6、versifiablerisksaregenerallyassociatedwithanindividualfirmorindustry.IV. Betameasuresdiversifiablerisk.A.IandIIIonlyB.IIandIVonlyC.IandIVonlyD.IIandIIIonly9. Whichofthefollowingisaliabilityaccount?()A. prepaid insuranceC. salaries payable10. Accountants employedareas of the following except ( )A. pr

7、oduct costing and pricingC. internal auditingB. additional paid-in capitalD. accumulated depreciationby large corporations may work in theB. budgetingD. product producing感謝下載載11. Acorporationsfirstsaleofequitymadeavailabletothepubliciscalleda(n):()B. private placement.A.sharerepurchaseprogram.C. ini

8、tial public offering (IPO).D.seasonedequityoffering(SEO).12. Standarddeviationmeasuresrisk.A.totalB.nondiversifiableC.unsystematicD.systematic13. ()isthevalueatsomefuturetimeofapresentamountofmoney,oraseriesofpayments,evaluatedatagiveninterestrate.A.futurevalueB.presentvalueC.intrinsicvalueD.marketv

9、alue14. EllesmereCorporationissues1million$1parvaluebonds.Thestatedinterestrateis8%peryearandtheinterestispaidtwiceayear.Whatistherealinterestrateofthebond?()A.6%B.4%C.10%D.(1+8%/2)2-115. Yourfirmpurchasedawarehousefor$335,000sixyearsago.Fouryearsago,repairsweremadetothebuildingwhichcost$60,000.Thea

10、nnualtaxesonthepropertyare$20,000.Thewarehousehasacurrentbookvalueof$268,000andamarketvalueof$295,000.Thewarehouseistotallypaidforandsolelyownedbyyourfirm.Ifthecompanydecidestoassignthiswarehousetoanewproject,whatvalue,ifany,shouldbeincludedintheinitialcashflowoftheprojectforthisbuilding?()A.$268,00

11、0B.$295,000C.$395,000D.$515,00016. Whichoneofthefollowingwilldecreasetheoperatingcycle?A. payingaccountspayablefasterB. discontinuingthediscountgivenforearlypaymentofanaccountsreceivableC. decreasingtheinventoryturnoverrateD. collectingaccountsreceivablefaster17. Assumethatdividendsofacommonstockwil

12、lbemaintainedatDforever,andtherequiredreturnofthestockholderisr,theparvalueofthestockism,thevalueofthestockis()A.mB.m+DC.m+D/rD.D/r18. Whichofthefollowingitemshasthemostrisk?()A.treasurybillB.corporatebondC.preferredstockD.commonstock19. ()equalsthegrossprofitdividedbynetsalesofafirm.A.grossprofitma

13、rginB.netprofitmarginC.returnoninvestmentD.returnonequity20. ()istheratiosthatmeasureafirmsabilitytomeetshort-termobligationsA.liquidityratiosB.leverageratiosC.coverageratiosD.activityratios21.Sensitivityanalysishelpsyoudeterminethe:A. rangeofpossibleoutcomesgivenpossiblerangesforeveryvariable.B. de

14、greetowhichthenetpresentvaluereactstochangesinasinglevariable.C. netpresentvaluegiventhebestandtheworstpossiblesituations.D. degreetowhichaprojectisreliantuponthefixedcosts.22. AccordingGAAPrevenueisrecognizedasincomewhen:()A. acontractissignedtoperformaserviceordeliveragood.B. thetransactioniscompl

15、eteandthegoodsorservicesdelivered.C. paymentisreceived.D. incometaxesarepaid.E. alloftheabove.23. ()istheresultofNetProfitMarginxtotalassetturnoverx(totalassets/shareholdersequity)A.ReturnonequityB.returnoninvestmentC.currentratioD.quickratio24. Governmenttaxlawadjustmentis()toafirm.A.generaleconomi

16、criskB.inflationanddeflationriskC.firm-specificrisk25. Whichofthefollowingstatementsconcerningtheincomestatementisnottrue?A. Itmeasuresperformanceoveraspecificperiodoftime.B. Itdeterminesafter-taxincomeofthefirm.C. Itincludesdeferredtaxes.D. Itdoesnotincludedepreciation.E. ittreatsinterestasanexpens

17、e.26.Whichofthefollowingisnotanoncashdeduction?A.Depreciation.B.Deferredtaxes.C.Interest.D.TwooftheaboveE.Alloftheabove.27.SashaCorphadanROAof10%.Sashasprofitmarginwas6%onsalesof$180.Whataretotalassets?()A.$300B.$108C.$48.D$162.28.Calculatenetincomebasedonthefollowinginformation()Sales=$200.00Costof

18、goodssold=$100.00Depreciation=$18.00Interestpaid=$25.00Taxrate=34%A.$16.50B.$37.62C.$34.60D.$4.6029.Whichofthefollowingisnottrue?()1. Financialmarketscanbeusedtoadjustconsumptionpatternsovertime.8. Corporateinvestmentdecisionshavenothingtodowithfinancialmarkets,9. Financialmarketsdealwithcashflowsov

19、ertime.10. Investmentdecisionsrelyontheeconomicprinciplesoffinancialmarkets.11. Noneoftheabove.30. ()isconcernedwiththeacquisition,financing,andmanagementofassetswithsomeoverallgoalinmind.A.FinancialmanagementB.ProfitmaximizationC.AgencytheoryD.Socialresponsibility31. Amajordisadvantageofthecorporat

20、eformoforganizationisthe().A. double taxation of dividendsB. inability of the firm to raiselargesumsofadditionalcapitalC.limitedliabilityofshareholdersD.limitedlifeofthecorporateform.32. Interestpaid(earned)onboththeoriginalprincipalborrowed(lent)andpreviousinterestearnedisoftenreferredtoas().A.pres

21、entvalueB.simpleinterestC.futurevalueD.compoundinterest33. Iftheintrinsicvalueofashareofcommonstockislessthanitsdividendandinvestorsrequirea7%returnonthisinvestment.Ifthemarket value,whichof theconclusion? ()A. The stock has a low level of risk.dividend payout ratio.C. The market is undervaluing ove

22、rvaluing the stock.34. A 250 face value share offollowing is the most reasonableB. The stock offers a highthe stock.D. The market ispreferred stock, pays a 20 annualsecurityiscurrentlysellingfor276,whatisthedifference(overvaluation)betweenitsintrinsicandmarketvalue(roundedtothenearestwholedollar)?A.

23、approximately26B.approximately10C.approximately6D.approximately135. FeltonFarmSupplies,Inc.,hasan8percentreturnontotalassetsof480,000andanetprofitmarginof6percent.Whatareitssales?A.3,750,000B.640,000C.480,000D.1,500,00036. Acompanycanimprove(lower)itsdebt-to-totalassetratiobydoingwhichofthefollowing

24、?A.Borrowmore.B.Shiftshort-termtolong-termdebt.C.Shiftlong-termtoshort-termdebt.D.issuecommonthe earning power on).stock.37. TheDuPontApproachbreaksdownshareholders'bookvalue(ROE)asfollows:ROE=(A. Net profit marginB. Total asset turnoverC. Total asset turnoverD. Total asset turnoverTotal asset t

25、urnoverx Gross profit marginXNet profit marginx Gross profit marginEquity multiplierx Debt ratiox Equity multiplier38. Whichofthefollowingitemsconcernsfinancingdecision?()A.salesforecastingB.bondissuingC.receivablescollectionD.investmentprojectselection39. Whichofthefollowingitemsisthefunctionofatre

26、asurer?()A.costaccountingB.internalcontrolC.capitalbudgetingD.generalledger40. Forfinancialinstruments,()isjudgedinrelationtotheabilitytosellasignificantvolumeofsecuritiesinashortperiodoftimewithoutsignificantpriceconcession.A.maturityB.marketabilityC.defaultD.inflationPartII:CalculationQuestions(10

27、x2points)(注意：要寫出計算公式和計算過程，否則不得分；需要用文字描述的問題回答內容要詳細，語句正確、完整。）1、ThemostrecentfinancialstatementsforcompanyCCCareshownhere($):IncomeStatementBalanceSheetSales10,400Currentassets11,000Currentliabilities10,000Costs6,820Long-termdebt12,000TaxableIncome3,580Fixedassets27,000Equity16,000Taxes1,253Total38,000

28、Total38,000Netincome2,3271 )Computethefollowingratios:Currentratio:TotaldebtratioTotalassetturnoverProfitmarginEquitymultiplierROAROE2 )UsingDuPontIdentitytocomputetheROE3 .AMicrogatsIndustriesbondhasa10%couponrateanda$1,000facevalue.Couponsarepaidsemiannually,andthebondhas20yearstomaturity.Ifinvest

29、orrequireda12%yield,whatsthebondsvalue?(P/A,6%,40)=15.0463(P/F,6%,40)=0.0972(P/A,12%,20)=7.4694(P/F,12%,20)=0.1037PartIIITranslation（將下面的topic由英文翻譯成中文或者由中文翻譯成英文，5x4=20points）Topic1IntroductiontoFinancialManagementFinancialmanagementisanintegrateddecision-makingprocessconcernedwithacquiring,financing,andmanagingassetstoaccomplishsomeoverallgoalwithinabusinessentity.Othernamesforfinancialmanagementincludemanagerialfinance,corporatefinance,andbusinessfinance.Makingfinancialdecisionsisanintegralpartofallformsandsizesofbusinessorganizationsfromsmallprivately-h