兹维博迪金融学第二版试题库3TB1Word文档格式.docx

兹维博迪金融学第二版试题库3TB1Word文档格式.docx

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（a）

4.Noncurrentassetstypicallyconsistof________.

（a）accountspayable

（b）receivablesandinventories

（c）cashandmarketablesecurities

（d）property,plant,andequipment

5.

Thedifferencebetweenafirm’scurrentassetsanditscurrentliabilitiesiscalled________.

（a）networth

（b）networkingcapital

（c）netincome

（d）stockholder’sequity

（b）

6.________isthedifferencebetweenrevenuesandcostofgoodssold.

（a）Operatingincome

（b）Grossmargin

（c）Taxableincome

（d）Changeinretainedearnings

7.________isthedifferencebetweengrossmarginandGS&

Aexpenses.

（d）Netincome

8.Althoughitdiffersfromtheincomestatement,thestatementofcashflowsisausefulsupplementtotheincomestatementbecause:

（a）itfocusesattentiononwhatishappeningtothefirm’scashpositionovertime

（b）itavoidsthejudgmentsaboutrevenueandexpenserecognitionthatgointotheincomestatement

（c）itisinfluencedbyaccrualaccountingdecisions

（d）（a）and（b）

9.Onthestatementofcashflows,thepurchaseofnewplantandequipmentrepresentsa________.

（a）cashflowfromoperatingactivity

（b）cashflowfrominvestingactivity

（c）cashflowfromfinancingactivity

（d）totalcashflowfrom（a）+（b）+（c）

10.Onthebalancesheet,thevalueofassets,liabilities,andnetwortharemeasuredinaccordancewith________.

（a）generallyacceptedeconomicprinciples

（b）generallyacceptedaccountingprinciples

（c）marketvalueaccreditation

（d）generallyadoptedandaccreditedprinciples

11.________istheofficialaccountingvalueofassetsandshareholder’sequity.

（a）Marketvalue

（b）Historicalmarketvalue

（c）Bookvalue

（d）Economicvalueadded

12.Buildingupagoodreputationforqualityandreliability,andbuildingupaknowledgebaseastheresultofpastresearchanddevelopment,arebothexamplesof________thataddtothefirm’s________.

（a）intangibleassets,bookvalue

（b）tangibleassets,marketvalue

（c）tangibleassets,bookvalue

（d）intangibleassets,marketvalue

13.Thevalueofgoodwillisthedifferencebetweenthe________oftheacquisitionandits________.

（a）marketprice,bookvalue

（b）amortizedvalue,marketprice

（c）historicalacquisitioncost,bookvalue

（d）marketprice,aftertaxvalue

14.Atthebeginningof19X7SuccessGalorehasamarketpriceof$250pershareandattheendoftheyear$225.50.Cashdividendsfortheyearare$7.50pershare.Computethetotalshareholderreturns.

（a）6.8%

（b）–6.8%

（c）12.8%

（d）–12.8%

15.SuccessGalorehadamarketpriceof$178pershareatthebeginningof19X7andattheendoftheyearthepricepersharewas$205.50.Cashdividendsfortheyearwere$7pershare.Calculatethetotalshareholderreturns.

（a）19.38%

（b）–19.38%

（c）16.79%

（d）–16.79%

16.In19X7,KangaInc.hadanetincomeof$40.2million,assetsof$600million,andshareholders’equityof$405million.Calculatethereturnonequity.

（a）4%

（b）6.7%

（c）9.93%

（d）20.62%

17.Assetturnoverratios________.

（a）assessthefirm’sprofitability

（b）assessthefirm’sabilitytouseitsassetsproductivelyingeneratingrevenue

（c）highlightthecapitalstructureofthefirm

（d）measuretheabilityofthefirmtomeetitsshort-termobligations

UsetheinformationbelowforBGBManufacturingtoanswerQuestions18-22.

ExhibitforBGBManufacturing1997-1999

BalanceSheet（Allfiguresin$millions）

1997

1998

1999

Cash&

marketablesecurities

1.0

2.0

5.0

Accountsreceivable,net

3.0

4.0

Inventories

4.7

8.0

Totalcurrentassets

6.0

9.7

17.0

PropertyPlant&

Equipment,net

14.0

13.0

12.0

Totalassets

20.0

22.7

29.0

Accountspayable

1.5

Othershorttermliabilities

2.5

Totalcurrentliabilities

Longtermdebt（bonds）

10.0

Totalliabilities

Stockholder’sequity

8.7

15.0

Totalliabilities&

equity

IncomeStatement（Allfiguresin$millions）

Revenues,net

25.0

CostofSales

7.0

Selling,Gen&

AdminExpenses

EBIT

6.5

TotalInterest

EBT

4.5

10.5

Taxes（@40%）

1.8

4.2

EAT

2.7

6.3

18.CalculatethecurrentratioforBGBManufacturingfor1998.

（a）1.5times

（b）2.43times

（c）3.19times

（d）4.25times

19.CalculatethequickratioforBGBManufacturingfor1997.

（a）0.25times

（b）0.5times

（c）0.75times

（d）1.5times

20.Fromtheperspectiveofabankloanofficerfrom1997tothepresent,whichofthefollowingstatementsbestsummarizestheinformationrevealedbythecurrentratioandquickratioforBGBManufacturing?

（a）Theabilityofthefirmtomeetitslong-termobligationshasdeteriorated.

（b）Theabilityofthefirmtomeetitsshort-termobligationshasimproved.

（c）Theabilityofthefirmtomeetitsshort-termobligationshasdeteriorated.

（d）Theabilityofthefirmtomeetitslong-termobligationshasimproved.

21.CalculatethedebtratioforBGBManufacturingfor1999.

（a）0.14%

（b）0.24%

（c）0.48%

（d）0.82%

22.Calculatethetimesinterestearned（TIE）ratioforBGBManufacturingfor1998.

（a）2.25times

（b）2.7times

（c）3.25times

（d）5.2times

23.Ifafirm’stotalassetturnoverratiois3.0:

（a）itsaveragetotalassetsareone-sixthofitsannualsales

（b）itsaveragetotalassetsarethreetimesitsannualsales

（c）itsannualsalesarethreetimesitsaveragetotalassets

（d）itsannualsalesareone-thirdofitstotalassets

24.AfirmhasaP/Eof9andamarkettobookratioof2.5.IfEPSare$3.50,whatisthebookvaluepershare?

（a）$8.75

（b）$12.60

（c）$31.50

（d）$78.75

25.AfirmhasEBITof$3million,salesof$15million,andaveragetotalassetsof$30million.CalculateitsROA.

（a）6.67%

（b）10%

（c）20%

（d）50%

26.Iftheaverageinventoryforafirmis$17millionandinventoryturnoveris0.9times,whatisitscostofgoodssold?

（a）$15.3million

（b）$18.89million

（c）$153million

（d）$188.9million

27.IftheaveragetotalassetsfortheHeartlandCorporationare$660millionandEATare$100million,calculateitsROA.Assumeataxrateof40%andinterestof$3million.

（a）15.15%

（b）15.6%

（c）25.15%

（d）25.71%

28.Thebeginningofyearreceivablesforafirmare$40million.Ifthereceivablesturnoverforthefirmis4.2timesanditssalesare$220million,calculatethefirm’sendofyearreceivables.

（a）$24.76million

（b）$52.38million

（c）$64.76million

（d）$168million

29.Indevelopingafinancialplan,thefirststepisto:

（a）distributerewardsandpunishmentstorelevantparties

（b）developthefirm’sstrategicplan

（c）establishspecificperformancetargetsforthefirmanditssuppliers

（d）adjusttargetsbasedonthepreviousyear’sdata

30.Theplanninghorizonisanimportantcomponentofthefinancialplanningprocess.Generally,thelongerthehorizon:

（a）thelessdetailedthefinancialplan

（b）themoredetailedthefinancialplan

（c）themoreperformancetargetsthefinancialplanwillinclude

（d）thelessafinancialplanisneeded

31.The“blueprints,”orthetangibleoutcomesofthefinancialplanningprocess,areintheformof:

（a）executivestockoptions

（b）auditor’srecommendations

（c）projectedfinancialstatementsandbudgets

（d）tacticalplansandbudgets

32.Basedonaconsiderationoftheplanninghorizon,whichofthefollowingprojectsismostlikelytoconsistofthemostdetailedfinancialplans?

（a）afive-yearfinancialplan

（b）aone-yearfinancialplan

（c）asix-monthfinancialplan

（d）aone-monthfinancialplan

33.Forecastingsalesforthenextyearandassumingthatmostoftheitemsontheincomestatementandbalancesheetwillmaintainthesameratiotosalesasinthepreviousyeariscalledthe_______________method.

（a）forecastratio

（b）percent-of-sales

（c）planninghorizon

（d）financialpredictor

34.Usingthepercent-of-salesmethod,whichofthefollowingvariablesaretypicallyassumedtoincreaseproportionatelywithsales?

（a）costs

（b）EBIT

（c）assets

（d）alloftheabove

35.Rupert’sGlassworksLtd.hasaninventoryperiodof50days,areceivablesperiodof55days,andapayablesperiodof40days.Computeitscashcycletime.

（a）35days

（b）45days

（c）65days

（d）105days

Questions36through45refertothefollowinginformation:

IncomeStatementdataandBalanceSheetdataisprovidedforthefirmNeuralWayI