公司金融智慧树知到期末考试答案章节答案2024年首都经济贸易大学

公司金融智慧树知到期末考试答案+章节答案2024年首都经济贸易大学Whichofthefollowingstatementsconcerningriskarecorrect?()

答案:Nondiversifiableriskismeasuredbybeta.;Systematicriskisanothernamefornondiversifiablerisk.Whichofthefollowingvariableswillbeattheirhighestexpectedlevelunderaworstcasescenario?()

答案:fixedcost;variablecostAstocklistingcontainsthefollowinginformation:P/E17.5,closingprice33.10,dividend.80,YTD%chg3.4,andnetchg-.50.Whichofthefollowingstatementsarecorrectgiventhisinformation?（）。

答案:Thecurrentyieldis17.5%.;Theearningspershareareapproximately$1.89.Ifaprojecthasanetpresentvalueequaltozero,then:（）

答案:theprojectproducesarateofreturnthatjustequalstheraterequiredtoaccepttheproject.;thepresentvalueofthecashinflowsexceedstheinitialcostoftheproject.;anydelayinreceivingtheprojectedcashinflowswillcausetheprojecttohaveanegativenetpresentvalue.Ingeneral,whatarethecontentsofthedividenddistributionannouncement()issuedbythecompany.

答案:Profitdistributionplan;Dividendpaymentmethod;ObjectsofdividenddistributionDividendyieldiscomputedbydividingnextyear'sannualdividendbythecurrentstockprice。（）

答案:对businesspartnerwhosepotentialfinanciallossinthepartnershipwillnotexceedhisorherinvestmentinthatpartnershipiscalledalimitedpartner.（）

答案:对Ifaprojecthasanetpresentvalueequaltozero,thentheprojectearnsareturnexactlyequaltothediscountrate。（）

答案:对Aportfoliobetaisaweightedaverageofthebetasoftheindividualsecuritiescontainedintheportfolio。（）

答案:对Aproject'soperatingcashflowwillincreasewhen:（）

答案:thedepreciationexpenseincreases.Assumethatyouareusingthedividendgrowthmodeltovaluestocks.Ifyouexpectthemarketrateofreturntoincreaseacrosstheboardonallequitysecurities,thenyoushouldalsoexpectthe:（）。

答案:marketvaluesofallstockstodecrease,allelseconstantWhentheoperatingcashflowofaprojectisequaltozero,theprojectisoperatingatthe:()

答案:cashbreak-evenpoint.Thepresentvalueofaninvestment'sfuturecashflowsdividedbytheinitialcostoftheinvestmentiscalledthe:（）

答案:netpresentvalueDifferentialgrowthreferstoafirmthatincreasesitsdividendby:（）。

答案:aratewhichismostlikelynotsustainableoveranextendedperiodoftimePetepaid$1,032ashistotalcostofpurchasingabond.Thispriceisreferredtoasthe:

答案:dirtyprice.Today,youwanttosella$1,000facevaluezerocouponbondyoucurrentlyown.Thebondmaturesin4.5years.Howmuchwillyoureceiveforyourbondifthemarketyieldtomaturityiscurrently5.33percent?Ignoreanyaccruedinterest.（）

答案:$789.22Angelina'smadetwoannouncementsconcerningitscommonstocktoday.First,thecompanyannouncedthatitsnextannualdividendhasbeensetat$2.16ashare.Secondly,thecompanyannouncedthatallfuturedividendswillincreaseby4%annually.WhatisthemaximumamountyoushouldpaytopurchaseashareofAngelina'sstockifyourgoalistoearna10%rateofreturn?（）

答案:$22.46Thediscountrateinequityvaluationiscomposedentirelyof:（）。

答案:thedividendyieldandthegrowthrateCurrently,thebondmarketrequiresareturnof11.6percentonthe10-yearbondsissuedbyWinstonIndustries.The11.6percentisreferredtoaswhichoneofthefollowing?（）

答案:yieldtomaturityWhichoneofthefollowingbusinesstypesisbestsuitedtoraisinglargeamountsofcapital?()

答案:corporationAllelseconstant,thenetpresentvalueofatypicalinvestmentprojectincreaseswhen:（）

答案:therateofreturndecreases.TheCornerStorehas$219,000ofsalesand$187,000oftotalassets.Thefirmisoperatingat87percentofcapacity.Whatisthecapitalintensityratioatfullcapacity?()

答案:0.74Asituationinwhichacceptingoneinvestmentpreventstheacceptanceofanotherinvestmentiscalledthe:（）

答案:issuesofscaleproblem.Ifafirmproducesatwelvepercentreturnonassetsandalsoatwelvepercentreturnonequity,thenthefirm:()

答案:hasanequitymultiplierof1.0.Thediscountedpaybackrulestatesthatyoushouldacceptprojects:（）

答案:ifthediscountedpaybackperiodislessthansomepre-specifiedperiodoftime.

答案:$6,493.74Thecashflowsofanewprojectthatcomeattheexpenseofafirm'sexistingprojectsarecalled:（）

答案:erosioncosts.Whentwoprojectsbothrequirethetotaluseofthesamelimitedeconomicresource,theprojectsaregenerallyconsideredtobe:（）

答案:mutuallyexclusiveAbondhasamarketpricethatexceedsitsfacevalue.Whichofthefollowingfeaturescurrentlyapplytothisbond?()

答案:premiumprice;yield-to-maturitythatislessthanthecouponrateAtaminimum,whichofthefollowingwouldyouneedtoknowtoestimatetheamountofadditionalrewardyouwillreceiveforpurchasingariskyassetinsteadofarisk-freeasset?()

答案:asset'sbeta;marketriskpremiumTheexpectedreturnonaportfolio()

答案:isindependentoftheunsystematicrisksoftheindividualsecuritiesheldintheportfolio.;mustbeequaltoorgreaterthantheexpectedreturnoftheworstperformingsecurityintheportfolio.;canneverexceedtheexpectedreturnofthebestperformingsecurityintheportfolio.Whichofthefollowingquestionsareappropriatetoaddressduringthefinancialplanningprocess?（）

答案:Shouldthefirmmergewithacompetitor?;Shouldaparticulardivisionbesold?;Shouldanewproductbeintroduced?;Shouldadditionalsharesofstockbesold?Whichofthefollowingarecharacteristicsofapremiumbond?（）

答案:couponrate＞yield-to-maturity;couponrate＞currentyieldTheconstantdividendgrowthmodel:（）。

答案:canbeusedtocomputeastockpriceatanypointoftime.;assumesthatdividendsincreaseataconstantrateforever.Inthecaseoftax,MMtheoryholdsthat().

答案:Debtinteresttaxcredithasasignificantimpactonenterprisevalue.;Thecostofequitycapitalofenterpriseswithliabilitiesundertaxissmallerthanthatwithouttax.;Withtheincreaseofthedebtratioofenterprises,thevalueofenterprisesalsoincreases.Thetotalrateofreturnearnedonastockiscomprisedofwhichtwoofthefollowing?（）

答案:capitalgainsyield;dividendyieldWhichofthefollowingarecorrectmethodsforcomputingtheoperatingcashflowofaprojectassumingthattheinterestexpenseisequaltozero?（）

答案:NetIncome+Depreciation;EBIT+Depreciation-TaxesWhichofthefollowingareexamplesofdiversifiablerisk?()

答案:toymakersarerequiredtoimprovetheirsafetystandards;earthquakedamagesanentiretownDetermininghowmuchdebtshouldbeassumedtofundaprojectisacapitalstructuredecision。（）

答案:对Netpresentvalueislessusefulthantheinternalrateofreturnwhencomparingdifferentsizedprojects。（）

答案:错TheFishereffectisdefinedastherelationshipbetweenrealrates,inflationrates,andnominalrates。（）

答案:对Under-investmentreferstothephenomenonthattheenterpriseabandonstheinvestmentprojectwithpositivenetpresentvalue.()

答案:对Thevalueofafirmismaximizedwhentheweightedaveragecostofcapitalisminimized。（）

答案:对Whenthepresentvalueofthecashinflowsexceedstheinitialcostofaproject,thentheprojectshouldbeaccepted。（）

答案:对Compoundinterestprovidesavaluethatislessthansimpleinterest.（）

答案:错Theownerofasoleproprietorshipispersonallyresponsibleforallofthecompany'sdebts。（）

答案:对Totalriskismeasuredbystandarddeviationandsystematicriskismeasuredbybeta。（）

答案:对Thepresentvalueofaninvestment'sfuturecashflowsdividedbytheinitialcostoftheinvestmentiscalledthenetpresentvalue。（）

答案:错融资优序理论认为，当企业存在融资需求时，首先选择下列哪种融资方式（）。

答案:内源融资下列哪一个理论认为公司的价值与公司的资本结构无关？（）

答案:MM定理命题IThecommonstockofAlphaManufacturershasabetaof1.47andanactualexpectedreturnof15.26percent.Therisk-freerateofreturnis4.3percentandthemarketrateofreturnis12.01percent.Whichoneofthefollowingstatementsistruegiventhisinformation?（）

答案:Theactualexpectedstockreturnindicatesthestockiscurrentlyoverpriced.businessformedbytwoormoreindividualswhoeachhaveunlimitedliabilityforallofthefirm'sbusinessdebtsiscalleda:()

答案:generalpartnership.Thepre-taxsalvagevalueofanassetisequaltothe:（）

答案:marketvalueMMtheorywithouttaxholdsthat().

答案:Thevalueofenterpriseswithliabilitiesisequaltothatofenterpriseswithoutliabilities.Whichoneofthefollowingstatementsconcerningnetpresentvalue(NPV)iscorrect?（）

答案:AninvestmentshouldbeacceptediftheNPVispositiveandrejectedifitisnegative.下列哪个理论可以解释为什么有的企业选择舍弃债务抵税收益而保持较低的负债水平？（）

答案:财务困境下的权衡理论Whichoneofthefollowingstatementsiscorrectconcerningunsystematicrisk?（）

答案:Eliminatingunsystematicriskistheresponsibilityoftheindividualinvestor.Yourlocaltravelagentisadvertisinganextravagantglobalvacation.Thepackagedealrequiresthatyoupay$5,000today,$15,000oneyearfromtoday,andafinalpaymentof$25,000onthedayyouleavetwoyearsfromtoday.Whatisthecostofthisvacationintoday'sdollarsifthediscountrateis6%?()

答案:$41,400.85TheScottCo.hasageneraldividendpolicywherebyitpaysaconstantannualdividendof$1pershareofcommonstock.Thefirmhas1,000sharesofstockoutstanding.Thecompany:（）

答案:muststilldeclareeachdividendbeforeitbecomesanactualcompanyliability.Thesustainablegrowthrateofafirmisbestdescribedasthe:()

答案:maximumgrowthrateachievableexcludinganyexternalequityfinancingwhilemaintainingaconstantdebt-equityratio.FrasierCabinetswantstomaintainagrowthrateof5percentwithoutincurringanyadditionalequityfinancing.Thefirmmaintainsaconstantdebt-equityratioof.0.55,atotalassetturnoverratioof1.30,andaprofitmarginof9.0percent.Whatmustthedividendpayoutratiobe?()

答案:73.74percentAllelseconstant,abondwillsellat_____whenthecouponrateis_____theyieldtomaturity.()

答案:adiscount;lessthan

答案:9.52percentSensitivityanalysisdeterminesthe:()

答案:degreetowhichthenetpresentvaluereactstochangesinasinglevariable.YouaretryingtodeterminewhethertoacceptprojectAorprojectB.Theseprojectsaremutuallyexclusive.Aspartofyouranalysis,youshouldcomputetheincrementalIRRbydetermining:（）

答案:theinternalrateofreturnforthedifferencesinthecashflowsofthetwoprojectsLeeHongImportspaida$1.00pershareannualdividendlastweek.Dividendsareexpectedtoincreaseby5%annually.Whatisoneshareofthisstockworthtoyoutodayiftheappropriatediscountrateis14%?（）

答案:$11.67

答案:-$177.62TheFlowerShoppehasaccountsreceivableof$3,709,inventoryof$4,407,salesof$218,640,andcostofgoodssoldof$167,306.Howmanydaysdoesittakethefirmtobothsellitsinventoryandcollectthepaymentonthesaleassumingthatallsalesareoncredit?()

答案:15.81days

答案:netsourceofcashof$111Thediscountratethatmakesthenetpresentvalueofaninvestmentexactlyequaltozeroiscalledthe:（）

答案:externalrateofreturnRealratesaredefinedasnominalratesthathavebeenadjustedforwhichofthefollowing?()

答案:inflationThepossibilitythatmorethanonediscountratewillmaketheNPVofaninvestmentequaltozeroiscalledthe_____problem.（）

答案:netpresentvalueprofilingWhichoneofthefollowingrepresentsthelevelofoutputwhereaprojectproducesarateofreturnjustequaltoitsrequirement?()

答案:financialbreak-evenAfirm'sexternalfinancingneedisfinancedbywhichofthefollowing?()

答案:debtorequityAperpetuitydiffersfromanannuitybecause:()

答案:perpetuitypaymentsnevercease.Afirmhastotalassetsof$311,770andnetfixedassetsof$167,532.Theaveragedailyoperatingcostsare$2,980.Whatisthevalueoftheintervalmeasure?()

答案:48.40daysTheCornerGrocerhasa7-year,6percentannualcouponbondoutstandingwitha$1,000parvalue.Thebondhasayieldtomaturityof5.5percent.Whichoneofthefollowingstatementsiscorrectifthemarketyieldsuddenlyincreasesto6.5percent?

（

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答案:Thebondpricewilldecreaseby5.43percent.Billings,Inc.hasnetincomeof$161,000,aprofitmarginof7.6percent,andanaccountsreceivablebalanceof$127,100.Assumethat66percentofsalesareoncredit.Whatisthedays'salesinreceivables?()

答案:33.18days从一般意义上讲，公司的所有者是全体（）

答案:股东股东大会与董事会的关系是委托代理关系。（）

答案:错下列哪些形成“委托代理关系”？

答案:公司为设备投保，保险公司与客户签订保单时要求该公司采取必要防盗措施;住户要求房东履行房屋修缮义务;选民选举人大代表，要求期真正代表选民利益;原告聘请律师，要求期努力办案信息不对称容易引发道德风险和逆向选择。（）

答案:对现代企业中，董事会于经理层的关系主要表现为（）

答案:委托代理关系我国企业金融融资的主要品种是（）

答案:信用债以下哪些融资方式属于金融融资？（）

答案:优先股;金融租赁;银行贷款融资性贸易属于金融融资。（）

答案:错以下哪些融资方式属于利率债？（）：

答案:国债;央行票据;政策性金融债;地方政府债券信用债主要是商业机构发行的债券。（）

答案:对基于控股股东与中小股东之间的代理冲突考虑，中小股东希望企业采用多分配少留存的股利政策，以防止控股股东对中小股东的利益侵害。（）

答案:对某公司的董事会今天下午开会，通过了一项决议，下个月每股派发现金股利1元。就本次股息而言，今天是指以下哪一天？（）

答案:股利宣告日增发股利一定向股东和投资者传递了好消息。（）

答案:错下列哪个股利政策最具灵活性？（）

答案:低正常股利加额外股利政策下列哪个理论强调了股利发放的重要性，认为企业应该实行高股利分配率的股利政策。（）

答案:“一手在鸟”理论TheTip-TopPavingCo.wantstobeleveredatadebttovalueratioof.6.Thecostofdebtis11%,thetaxrateis34%,andthecostofequityforanallequityfirmis14%.WhatwillbeTip-Top'scostofequity?（）

答案:16.97%Afirmhasatotalvalueof$500,000anddebtvaluedat$300,000.Whatistheweightedaveragecostofcapitaliftheaftertaxcostofdebtis9%andthecostofequityis14%?()

答案:11.000%Averylargefirmhasadebtbetaofzero.Ifthecostofequityis11%,andtherisk-freerateis5%,thecostofdebtis:（）

答案:5%Tocalculatetheadjustedpresentvalue,onewill:()

答案:addtheadditionaleffectsoffinancingtotheallequityprojectvalue.Whatarethethreestandardapproachestovaluationunderleverage?()

答案:APV,FTE,andWACC通常情况下，资本结构指的是短期债务资本和权益资本各占多大比例。

答案:错下列哪个理论可以解释为什么有的企业选择舍弃债务抵税收益而保持较低的负债水平？

答案:财务困境下的权衡理论在考虑企业所得税情况的下MM定理研究了债务利息抵税对企业价值的影响。

答案:对融资优序理论认为，当企业存在融资需求时，首先选择下列哪种融资方式。

答案:内源融资下列哪一个理论认为公司的价值与公司的资本结构无关？

答案:MM定理命题IAgroupofindividualsgottogetherandpurchasedalloftheoutstandingsharesofcommonstockofMoutaiInc.Whatisthereturnthattheseindividualsrequireonthisinvestmentcalled?(）

答案:costofequityAfirm'soverallcostofequityis:（）

答案:highlydependentuponthegrowthrateandrisklevelofthefirm.Thecostofequityforafirm:（）

答案:ignoresthefirm'sriskswhenthatcostisbasedonthedividendgrowthmodel.TextileMillsborrowsmoneyatarateof13.5percent.Thisinterestrateisreferredtoasthe:()

答案:costofdebt.Theaverageofafirm'scostofequityandaftertaxcostofdebtthatisweightedbasedonthefirm'scapitalstructureiscalledthe:（）

答案:weightedaveragecostofcapital.IfafirmusesitsWACCasthediscountrateforalloftheprojectsitundertakesthenthefirmwilltendto:（）

答案:rejectsomepositivenetpresentvalueprojects.;favorhighriskprojectsoverlowriskprojects.;increaseitsoveralllevelofriskovertime.;acceptsomenegativenetpresentvalueprojects.Thedividendgrowthmodelcanbeusedtocomputethecostofequityforafirminwhichofthefollowingsituations?()

答案:firmsthatpayaconstantdividend;firmsthatpayadecreasingdividend;firmsthatpayanincreasingdividend;firmsthathavea100percentretentionratio关于资本市场线，哪种说法不正确？（）

答案:资本市场线也叫作证券市场线哪个模型没有说明如何确定因素资产组合的风险溢价？()

答案:多因素APT某个证券的市场风险贝塔，等于（）。

答案:该证券收益与市场收益的协方差除以市场收益的方差与CAPM模型相比，套利定价理论：()

答案:不要求关于市场资产组合的限制性假定有两个模型，其中描述了所有资产都遵循的期望收益率-贝塔值之间的关系，则提出这个关系仅有少量证券不遵守，其余大多数仍是成立的。（）

答案:CAPM，APT你投资了600美元于证券A，其贝塔值为1.2；投资400美元于证券B，其贝塔值为-0.20。资产组合的贝塔值为()。

答案:0.64证券市场线是（）。

答案:表示出了期望收益与贝塔关系的线套利定价理论中，一个充分分散风险的资产组合，组成证券数目越多，非系统风险就越接近()。

答案:0根据CAPM模型，贝塔值为1.0，阿尔法值为0的资产组合预期收益率为：（）

答案:市场预期收益率rM考虑多因素APT模型。因素组合1和因素组合2的风险溢价分别为5%和3%。无风险利率为10%。股票A的期望收益率为19%，对因素1的贝塔值为0.8。那么股票A对因素2的贝塔值为()。

答案:1.67Whichofthefollowingrelationshipsapplytoaparvaluebond?（）

答案:marketprice=facevalue;currentyield=yield-to-maturityThecurrentyieldisdefinedastheannualinterestonabonddividedbywhichoneofthefollowing?()

答案:marketpriceWhichofthefollowingamountsisclosesttowhatshouldbepaidforOverlandcommonstock?Overlandhasjustpaidadividendof$2.25.Thesedividendsareexpectedtogrowatarateof5%intheforeseeablefuture.Therequiredrateofreturnis11%.（）。

答案:$39.38Abondisquotedatapriceof$989.Thispriceisreferredtoaswhichoneofthefollowing?()

答案:cleanpriceTheWalthersCompanyhasasemi-annualcouponbondoutstanding.Anincreaseinthemarketrateofinterestwillhavewhichoneofthefollowingeffectsonthisbond?（）

答案:decreasethemarketpriceThecommonstockofEddie'sEngines,Inc.sellsfor$25.71ashare.Thestockisexpectedtopay$1.80persharenextmonthwhentheannualdividendisdistributed.Eddie'shasestablishedapatternofincreasingitsdividendsby4%annuallyandexpectstocontinuedoingso.Whatisthemarketrateofreturnonthisstock?（）。

答案:11%Maryjustpurchasedabondwhichpays$60ayearininterest.Whatisthis$60called?（）

答案:couponLastweek,RailwayCaboosespaiditsannualdividendof$1.20pershare.Thecompanyhasbeenreducingthedividendsby10%eachyear.Howmuchareyouwillingtopaytopurchasestockinthiscompanyifyourrequiredrateofreturnis14%?（）。

答案:$4.50Wilbert'sClothingStoresjustpaida$1.20annualdividend.Thecompanyhasapolicywherebythedividendincreasesby2.5%annually.Youwouldliketopurchase100sharesofstockinthisfirmbutrealizethatyouwillnothavethefundstodosoforanotherthreeyears.Ifyoudesirea10%rateofreturn,howmuchshouldyouexpecttopayfor100shareswhenyoucanaffordtobuythisstock?Ignoretradingcosts.（）。

答案:$1,766SharesofcommonstockoftheSamsonCo.offeranexpectedtotalreturnof12%.Thedividendisincreasingataconstant8%peryear.Thedividendyieldmustbe:（）。

答案:8%.Thespecifieddateonwhichtheprincipalamountofabondispayableisreferredtoaswhichoneofthefollowing?()

答案:maturityfollowingchangesthatsheisconsideringwillhelpthatprojectproduceapositiveNPVinstead?Considereachchangeindependently.（）

答案:increasethequantitysold;increasethesalesprice;decreasethefixedleasingcostforequipment;decreasethelaborhoursneededtoproduceoneunitWhichoneofthefollowingisdefinedasthesaleslevelthatcorrespondstoazeroNPV?()

答案:financialbreak-evenJamie'sMotorHomeSalescurrentlysells1,000ClassAmotorhomes,2,500ClassCmotorhomes,and4,000pop-uptrailerseachyear.Jamieisconsideringaddingamid-rangecamperandexpectsthatifshedoessoshecansell1,500ofthem.However,ifthenewcamperisadded,JamieexpectsthatherClassAsaleswilldeclineto950unitswhiletheClassCcampersdeclineto2,200.Thesalesofpop-upswillnotbeaffected.ClassAmotorhomessellforanaverageof$125,000each.ClassChomesarepricedat$39,500andthepop-upssellfor$5,000each.Thenewmid-rangecamperwillsellfor$47,900.Whatistheerosioncost?（）。

答案:$18,100,000Scenarioanalysisisdefinedasthe:()

答案:determinationofchangesinNPVestimateswhenwhat-ifquestionsareposed.Ernie'sElectricalisevaluatingaprojectwhichwillincreasesalesby$50,000andcostsby$30,000.Theprojectwillcost$150,000andwillbedepreciatedstraight-linetoazerobookvalueoverthe10yearlifeoftheproject.Theapplicabletaxrateis34%.Whatistheoperatingcashflowforthisproject?（）。

答案:$18,300JamestownLtd.currentlyproducesboatsailsandisconsideringexpandingitsoperationstoincludeawningsforhomesandtraveltrailers.Thecompanyownslandbesideitscurrentmanufacturingfacilitythatcouldbeusedfortheexpansion.Thecompanyboughtthislandtenyearsagoatacostof$250,000.Today,thelandisvaluedat$425,000.Thegradingandexcavationworknecessarytobuildonthelandwillcost$15,000.Thecompanycurrentlyownssomeunusedequipmentvaluedat$60,000.Thisequipmentcouldbeusedforproducingawningsif$5,000isspentforequipmentmodifications.Otherequipmentcosting$780,000willalsoberequired.Whatistheamountoftheinitialcashflowforthisexpansionproject?（）。

答案:$1,285,000Ben'sBorderCaféisconsideringaprojectwhichwillproducesalesof$16,000andincreasecashexpensesby$10,000.Iftheprojectisimplemented,taxeswillincreasefrom$23,000to$24,500anddepreciationwillincreasefrom$4,000to$5,500.Whatistheamountoftheoperatingcashflowusingthetop-downapproach?（）。

答案:$4,500Ananalysiswhichcombinesscenarioanalysiswithsensitivityanalysisiscalled_____analysis.()

答案:simulationBydefinition,whichoneofthefollowingmustequalzeroattheaccountingbreak-evenpoint?()

答案:netincomeBydefinition,whichoneofthefollowingmustequalzeroatthecashbreak-evenpoint?()

答案:operatingcashflowAnanalysisofthechangeinaproject'sNPVwhenasinglevariableischangediscalled_____analysis.()

答案:sensitivityWalksSoftly,Inc.sellscustomizedshoes.Currently,itsells10,000pairsofshoesannuallyatanaveragepriceof$68apair.Itisconsideringaddingalower-pricedlineofshoeswhichsellfor$49apair.WalksSoftlyestimatesitcansell5,000pairsofthelower-pricedshoesbutwillsell1,000lesspairsofthehigher-pricedshoesbydoingso.Whatistheamountofthesalesthatshouldbeusedwhenevaluatingtheadditionofthelower-pricedshoes?（）。

答案:$177,000

答案:-$177.62AcceptingpositiveNPVprojectsbenefitsthestockholdersbecause:（）。

答案:thepresentvalueoftheexpectedcashflowsaregreaterthanthecost.AprojectwillhavemorethanoneIRRif:（）。

答案:thecashflowpatternexhibitsmorethanonesignchange.Thepaybackperiodrule:（）。

答案:Thecashflowafterthepaybackperiodisignored.Thelengthoftimerequiredforaproject'sdiscountedcashflowstoequaltheinitialcostoftheprojectiscalledthe:

（）

答案:discountedpaybackperiodTheSoccerShoppehasa7percentreturnonassetsanda25percentpayoutratio.Whatisitsinternalgrowthrate?()

答案:5.54percentWhichoneofthefollowingwillcausethesustainablegrowthratetoequaltointernalgrowthrate?()

答案:equitymultiplierof1.0Afirmhasaretentionratioof45percentandasustainablegrowthrateof6.2percent.Thecapitalintensityratiois1.2andthedebt-equityratiois0.64.Whatistheprofitmargin?()

答案:14.63percentAnincreaseinwhichofthefollowingwillincreasethereturnonequity,allelseconstant?()

答案:sales;netincomeAfirmiscurrentlyoperatingatfullcapacity.Networkingcapital,costs,andallassetsvarydirectlywithsales.Thefirmdoesnotwishtoobtainanyadditionalequityfinancing.Thedividendpayoutratioisconstantat40percent.Ifthefirmhasapositiveexternalfinancingneed,thatneedwillbemetby:()

答案:long-termdebt.Whichoneofthefollowingtermsisappliedtothefinancialplanningmethodwhichusestheprojectedsaleslevelasthebasisfordeterminingchangesinbalancesheetandincomestatementaccountvalues?()

答案:percentageofsalesmethodTheBikeShoppaid$2,310ininterestand$1,850individendslastyear.Thetimesinterestearnedratiois2.2andthedepreciationexpenseis$460.Whatisthevalueofthecashcoverageratio?()

答案:2.40Financialplanning:()

答案:considersmultipleoptionsandscenariosforthenexttwotofiveyears.Whichoneofthefollowingwilldecreaseifafirmcandecreaseitsoperatingcosts,allelseconstant?()

答案:price-earningsratioAfirmuses2008asthebaseyearforitsfinancialstatements.Thecommon-size,base-yearstatementfor2009hasaninventoryvalueof1.08.Thisisinterpretedtomeanthatthe2009inventoryisequalto108percentofwhichoneofthefollowing?()

答案:2008inventoryexpressedasapercentof2008totalassetsCanineSupplyhassalesof$2,200,totalassetsof$1,400,andadebt-equityratioof0.3.Itsreturnonequityis15percent.Whatisthenetincome?()

答案:$161.54Afirmgeneratednetincomeof$878.Thedepreciationexpensewas$47anddividendswerepaidintheamountof$25.Accountspayablesdecreasedby$13,accountsreceivablesincreasedby$22,inventorydecreasedby$14,andnetfixedassetsdecreasedby$8.Therewasnointerestexpense.Whatwasthenetcashflowfromoperatingactivity?()

答案:$904Theformulawhichbreaksdownthereturnonequityintothreecomponentpartsisreferredtoas