财务管理基础英文版选择题.docx
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财务管理基础英文版选择题
第一章
1CORRECT
Whichofthefollowingaremicroeconomicvariablesthathelpdefineandexplainthedisciplineoffinance?
D
A）riskandreturn
B）capitalstructure
C）inflation
D）alloftheabove
Feedback:
Alloftheabovearerelevantinexplainingfinance.
2CORRECT
Oneprimarymacroeconomicvariablethathelpsdefineandexplainthedisciplineoffinance?
C
A）capitalstructure
B）inflation
C）technology
D）risk
Feedback:
Technologyisveryimportantinexplainingthefieldoffinance.
3CORRECT
Themoneymarketsdealwith_________.B
A）securitieswithalifeofmorethanoneyear
B）short-termsecurities
C）securitiessuchascommonstock
D）noneoftheabove
Feedback:
Themoneymarketsareconcernedwithshort-termsecurities,thosewithalifelessthanoneyear.
4CORRECT
Theabilityofafirmtoconvertanassettocashiscalled___A_________.
A）liquidity
B）solvency
C）return
D）marketability
Feedback:
Liquidityalsomeanshowcloseanassetistocash.
5CORRECT
Earlyinthehistoryoffinance,animportantissuewas:
A
A）liquidity
B）technology
C）capitalstructure
D）financingoptions
Feedback:
Maintainingliquiditywasamajorconcernhistorically.
6INCORRECT
The__________C_________isthemostcommonformofbusinessorganizationintheU.S.
A）corporation
B）partnership
C）soleproprietorship
D）noneoftheabove
Feedback:
Therearemoresoleproprietorshipsthananyotherformofbusinessorganization.
7CORRECT
The_________C___________hasmoresalesindollarsthananyotherformofbusinessorganization.
A）soleproprietorship
B）partnership
C）corporation
D）noneoftheabove
Feedback:
Thecorporationisthemostimportantintermsofdollars.
8CORRECT
Onemajordisadvantageofthesoleproprietorshipis_____B___________.
A）simplicityofdecision-making
B）unlimitedliability
C）lowoperationalcosts
D）noneoftheabove
Feedback:
Theownersofasoleproprietorshiparepersonallyliable.
9CORRECT
Theappropriatefirmgoalinacapitalistsocietyis______B__________.
A）profitmaximization
B）shareholderwealthmaximization
C）socialresponsibility
D）noneoftheabove
Feedback:
Thegoalistomaximizethewealthofshareholders.
10CORRECT
Theagencyproblemwilloccurinabusinessfirmifthegoalsof______C______andshareholdersdonotagree.
A）investors
B）thepublic
C）management
D）noneoftheabove
第二章
Feedback:
Thegoalsofmanagementmaybedifferentfromthoseofshareholders.
Theaccountingstatementsthatafirmisrequiredtofileincludeallbutoneofthese.B
A）BalanceSheet
B）StatementofAccountsReceivable
C）IncomeStatement
D）StatementofCashFlows
Feedback:
Therequiredstatementsincludetheincomestatement,balancesheetandstatementofchangesincashflows.Thestatementofchangesinownersequity（orretainedearnings）isalsorequiredbyGenerallyAcceptedAccountingPrinciplesbutisnotcoveredinthistext.
2CORRECT
The_______A________showsthefirm'soperatingresultsoveraperiodoftime.
A）IncomeStatement
B）StatementofCashFlows
C）BalanceSheet
D）Noneoftheabove
Feedback:
TheIncomeStatementrepresentsamovingpictureofafirm'srevenuesandexpenses.
3CORRECT
Allofthefollowingexceptonearetax-deductibleexpenses.C
A）interestexpense
B）depreciation
C）commonstockdividends
D）incometaxes
Feedback:
Commonstockdividendsarenottaxdeductibletoafirm.
4CORRECT
Allofthefollowingarenon-operatingexpensesexcept______B_______.
A）interestexpense
B）costofgoodssold
C）preferredstockdividends
D）taxes
Feedback:
Thecostofgoodssoldisanoperatingexpense.
5CORRECT
Bondholdersreceive_____C________fromthebusinessfirm.
A）preferreddividendpayments
B）commonstockpayments
C）interestpayments
D）royalties
Feedback:
Bondholdersaretypicallypaidinterestsemi-annually.
6CORRECT
Theratioofnetincometocommonsharesoutstandingiscalled_____B_________.
A）price/earningsratio
B）earningspershare
C）dividendspershare
D）noneoftheabove
Feedback:
Thisiscalledtheearningspershare（EPS）.
7CORRECT
Usually,firmswithhighprice/earningsratiosare_____A_______firms.
A）growth
B）declining
C）mature
D）noneoftheabove
Feedback:
Ahighp/eratioindicatesafirmwithstronggrowthprospects
8CORRECT
Oneofthelimitationsofthe_____C_______isthatitisbasedonhistoricalcosts.
A）incomestatement
B）statementofcashflows
C）balancesheet
D）noneoftheabove
Feedback:
Thebalancesheetuseshistoricalcosts.
9INCORRECT
Asourceoffundsisa:
D
A）decreaseinacurrentasset
B）decreaseinacurrentliability
C）increaseinacurrentliability
D）aandcabove
Feedback:
Adecreaseincurrentassetsisequivalenttoanincreaseincurrentliabilities.
10INCORRECT
Short-termfinancingforabusinessfirmincludes:
B
A）bonds
B）accountspayable
C）stockholder'sequity
D）mortgages
Feedback:
Theotherthreeanswersrepresentlong-termfinancing.
第三章
Trendanalysisallowsafirmtocompareitsperformanceto:
D
A）otherfirmsintheindustry
B）othertimeperiodswithinthefirm
C）otherindustries
D）alloftheabove
Feedback:
Trendanalysisgivesananalystalong-termperspective.AsasecurityanalystandaportfoliomanagerwithOppenheimerCapital,DickGlasebrookspoketoaSeniorFinanceManagers’MeetingattheBoeingCompanyonMay4,1999.Hesaiditisonethingtocompareafirm’sperformanceagainstcompetitorswithinthesameindustry.Butinvestorsarenotlimitedtospecificindustries.Infact,investorsseektodiversifytheirinvestmentsacrossmanydifferentindustries.Somanagementshouldalsocompareperformancetoanywellruncompany--bothinandoutsideoftheirindustry.
2
Ratioanalysisallowsafirmtocompareitsperformanceto:
D
A）otherfirmsintheindustry
B）othertimeperiodswithinthefirm
C）otherindustries
D）alloftheabove
Feedback:
Trendanalysisgivesananalystalong-termperspective.AsasecurityanalystandaportfoliomanagerwithOppenheimerCapital,DickGlasebrookspoketoaSeniorFinanceManagers’MeetingattheBoeingCompanyonMay4,1999.Hesaiditisonethingtocompareafirm’sperformanceagainstcompetitorswithinthesameindustry.Butinvestorsarenotlimitedtospecificindustries.Infact,investorsseektodiversifytheirinvestmentsacrossmanydifferentindustries.Somanagementshouldalsocompareperformancetoanywellruncompany--bothinandoutsideoftheirindustry.
3
Usually,afirm'ssuppliersaremostinterestedinits___D_____ratios.
A）profitability
B）debt
C）assetutilization
D）liquidity
Feedback:
Thesuppliersaremostinterestedingettingpaid,asshownbytheliquidityofthefirm.
4CORRECT
__________D_____wouldbemostinterestedinafirm'sdebtutilizationratios.
A）bondholders
B）stockholders
C）short-termcreditors
D）BothAandB
Feedback:
Debtisindicatedbyafirmissuingbondsbutisalsoafunctionofthedebttoequityrelationshiporthedegreeoffinancialleverage.Bothbondholdersandstockholdersareinterestedinthisrelationshipalthoughfrofopposingviewpoints.
5CORRECT
The_______C______ratioindicatesthereturnfirmshareholdersareearning.
A）returnonassets
B）returnoninvestment
C）returnonequity
D）netprofitmargin
Feedback:
Theshareholdersrepresentequity,orownershipinthefirm.
6CORRECT
Whichofthefollowingisanexampleofaprofitabilityratio?
C
A）Quickratio
B）Averagecollectionperiod
C）Returnonequity
D）Timesinterestearned
Feedback:
Thisistheonlyprofitabilityratiothatislisted.Allprofitabilityratioshavenetincomeinthedenominator.
7
Totalassetturnoverwillindicateifthereisaproblemwiththe___C______ratio.
A）debttoassets
B）timesinterestearned
C）fixedassetturnover
D）current
Feedback:
Fixedassetturnoverispartoftotalassetturnover.
8CORRECT
Allofthefollowingareassetutilizationratiosexcept:
D
A）averagecollectionperiod
B）inventoryturnover
C）receivablesturnover
D）returnonassets
Feedback:
Returnonassetsisaprofitabilityratio.Anyratiowithnetincomeinthedenominatorisaprofitabilityratio.
9CORRECT
Ifafirm'sdebtratiois55%,thismeans____C__ofthefirm'sassetsarefinancedbyequityfinancing.
A）55%
B）50%
C）45%
D）notenoughinformationtoanswerquestion
Feedback:
Theequityportionplusthedebtportionmustaddupto100%.
10CORRECT
Allofthefollowingcanpresentproblemsforratioanalysisexcept:
D
A）inflation
B）inventoryaccountingmethods
C）disinflation
D）alloftheabove
Feedback:
Theseallmaycauseproblems.
第四章
Planningforfuturegrowthiscalled:
C
A）capitalbudgeting
B）workingcapitalmanagement
C）financialforecasting
D）noneoftheabove
Feedback:
Thisinvolveslookingaheadtothefuture.
2INCORRECT
WhichoneofthefollowingisNOTatooloffinancialforecasting?
B
A）cashbudget
B）capitalbudget
C）proformabalancesheet
D）proformaincomestatement
Feedback:
Theotherthreearealltoolsusedbyananalyst.
3CORRECT
Thefirststepindevelopingaproformaincomestatementisto:
A
A）bu
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