财务管理基础英文版选择题.docx

1、财务管理基础 英文版 选择题第一章1 CORRECT Which of the following are microeconomic variables that help define and explain the discipline of finance? D A) risk and return B) capital structure C) inflation D) all of the above Feedback: All of the above are relevant in explaining finance. 2 CORRECT One primary macroe

2、conomic variable that helps define and explain the discipline of finance? C A) capital structure B) inflation C) technology D) risk Feedback: Technology is very important in explaining the field of finance. 3 CORRECT The money markets deal with _. B A) securities with a life of more than one year B)

3、 short-term securities C) securities such as common stock D) none of the above Feedback: The money markets are concerned with short-term securities, those with a life less than one year. 4 CORRECT The ability of a firm to convert an asset to cash is called _A_. A) liquidity B) solvency C) return D)

4、marketability Feedback: Liquidity also means how close an asset is to cash. 5 CORRECT Early in the history of finance, an important issue was: A A) liquidity B) technology C) capital structure D) financing options Feedback: Maintaining liquidity was a major concern historically. 6 INCORRECT The _C_

5、is the most common form of business organization in the U.S. A) corporation B) partnership C) sole proprietorship D) none of the above Feedback: There are more sole proprietorships than any other form of business organization. 7 CORRECT The _C_ has more sales in dollars than any other form of busine

6、ss organization. A) sole proprietorship B) partnership C) corporation D) none of the above Feedback: The corporation is the most important in terms of dollars. 8 CORRECT One major disadvantage of the sole proprietorship is _B_. A) simplicity of decision-making B) unlimited liability C) low operation

7、al costs D) none of the above Feedback: The owners of a sole proprietorship are personally liable. 9 CORRECT The appropriate firm goal in a capitalist society is _B_. A) profit maximization B) shareholder wealth maximization C) social responsibility D) none of the above Feedback: The goal is to maxi

8、mize the wealth of shareholders. 10 CORRECT The agency problem will occur in a business firm if the goals of _C_ and shareholders do not agree. A) investors B) the public C) management D) none of the above 第二章Feedback: The goals of management may be different from those of shareholders.The accountin

9、g statements that a firm is required to file include all but one of these. B A) Balance Sheet B) Statement of Accounts Receivable C) Income Statement D) Statement of Cash Flows Feedback: The required statements include the income statement, balance sheet and statement of changes in cash flows. The s

10、tatement of changes in owners equity (or retained earnings) is also required by Generally Accepted Accounting Principles but is not covered in this text. 2 CORRECT The _A_ shows the firms operating results over a period of time. A) Income Statement B) Statement of Cash Flows C) Balance Sheet D) None

11、 of the above Feedback: The Income Statement represents a moving picture of a firms revenues and expenses. 3 CORRECT All of the following except one are tax-deductible expenses. C A) interest expense B) depreciation C) common stock dividends D) income taxes Feedback: Common stock dividends are not t

12、ax deductible to a firm. 4 CORRECT All of the following are non-operating expenses except _B_. A) interest expense B) cost of goods sold C) preferred stock dividends D) taxes Feedback: The cost of goods sold is an operating expense. 5 CORRECT Bondholders receive _C_ from the business firm. A) prefer

13、red dividend payments B) common stock payments C) interest payments D) royalties Feedback: Bondholders are typically paid interest semi-annually. 6 CORRECT The ratio of net income to common shares outstanding is called _B_. A) price/earnings ratio B) earnings per share C) dividends per share D) none

14、 of the above Feedback: This is called the earnings per share (EPS). 7 CORRECT Usually, firms with high price/earnings ratios are _A_ firms. A) growth B) declining C) mature D) none of the above Feedback: A high p/e ratio indicates a firm with strong growth prospects 8 CORRECT One of the limitations

15、 of the _C_ is that it is based on historical costs. A) income statement B) statement of cash flows C) balance sheet D) none of the above Feedback: The balance sheet uses historical costs. 9 INCORRECT A source of funds is a: D A) decrease in a current asset B) decrease in a current liability C) incr

16、ease in a current liability D) a and c above Feedback: A decrease in current assets is equivalent to an increase in current liabilities. 10 INCORRECT Short-term financing for a business firm includes: B A) bonds B) accounts payable C) stockholders equity D) mortgages Feedback: The other three answer

17、s represent long-term financing.第三章 Trend analysis allows a firm to compare its performance to: D A) other firms in the industry B) other time periods within the firm C) other industries D) all of the above Feedback: Trend analysis gives an analyst a long-term perspective. As a security analyst and

18、a portfolio manager with Oppenheimer Capital, Dick Glasebrook spoke to a Senior Finance Managers Meeting at the Boeing Company on May 4, 1999. He said it is one thing to compare a firms performance against competitors within the same industry. But investors are not limited to specific industries. In

19、 fact, investors seek to diversify their investments across many different industries. So management should also compare performance to any well run company-both in and outside of their industry. 2 Ratio analysis allows a firm to compare its performance to: D A) other firms in the industry B) other

20、time periods within the firm C) other industries D) all of the above Feedback: Trend analysis gives an analyst a long-term perspective. As a security analyst and a portfolio manager with Oppenheimer Capital, Dick Glasebrook spoke to a Senior Finance Managers Meeting at the Boeing Company on May 4, 1

21、999. He said it is one thing to compare a firms performance against competitors within the same industry. But investors are not limited to specific industries. In fact, investors seek to diversify their investments across many different industries. So management should also compare performance to an

22、y well run company-both in and outside of their industry. 3 Usually, a firms suppliers are most interested in its _D_ ratios. A) profitability B) debt C) asset utilization D) liquidity Feedback: The suppliers are most interested in getting paid, as shown by the liquidity of the firm. 4 CORRECT _D_ w

23、ould be most interested in a firms debt utilization ratios. A) bondholders B) stockholders C) short-term creditors D) Both A and B Feedback: Debt is indicated by a firm issuing bonds but is also a function of the debt to equity relationship or the degree of financial leverage. Both bond holders and

24、stockholders are interested in this relationship although frof opposing viewpoints. 5 CORRECT The _C_ ratio indicates the return firm shareholders are earning. A) return on assets B) return on investment C) return on equity D) net profit margin Feedback: The shareholders represent equity, or ownersh

25、ip in the firm. 6 CORRECT Which of the following is an example of a profitability ratio? C A) Quick ratio B) Average collection period C) Return on equity D) Times interest earned Feedback: This is the only profitability ratio that is listed. All profitability ratios have net income in the denominat

26、or. 7 Total asset turnover will indicate if there is a problem with the _C_ ratio. A) debt to assets B) times interest earned C) fixed asset turnover D) current Feedback: Fixed asset turnover is part of total asset turnover. 8 CORRECT All of the following are asset utilization ratios except: D A) av

27、erage collection period B) inventory turnover C) receivables turnover D) return on assets Feedback: Return on assets is a profitability ratio. Any ratio with net income in the denominator is a profitability ratio. 9 CORRECT If a firms debt ratio is 55%, this means _C_ of the firms assets are finance

28、d by equity financing. A) 55% B) 50% C) 45% D) not enough information to answer question Feedback: The equity portion plus the debt portion must add up to 100%. 10 CORRECT All of the following can present problems for ratio analysis except: D A) inflation B) inventory accounting methods C) disinflat

29、ion D) all of the above Feedback: These all may cause problems. 第四章 Planning for future growth is called: C A) capital budgeting B) working capital management C) financial forecasting D) none of the above Feedback: This involves looking ahead to the future. 2 INCORRECT Which one of the following is NOT a tool of financial forecasting? B A) cash budget B) capital budget C) pro forma balance sheet D) pro forma income statement Feedback: The other three are all tools used by an analyst. 3 CORRECT The first step in developing a pro forma income statement is to: A A) bu