版權說明:本文檔由用戶提供并上傳,收益歸屬內容提供方,若內容存在侵權,請進行舉報或認領
文檔簡介
公司金融(財務管理)智慧樹知到課后章節(jié)答案2023年下外交學院外交學院
緒論單元測試
WhatarenotthemostcommontypeoffirmintheUnitedStatesandtheworld?
A:
partnerships
B:corporationsC:
soleproprietorships
D:limitedpartnerships
答案:
partnerships
;corporations;limitedpartnerships
第一章測試
Stockmarketsprovideliquidityforafirm'sshares.
A:錯B:對
答案:對
Raisingnewcapitalbyissuingbondsisanexampleofacommercialbankingactivity.
A:對B:錯
答案:錯
Financialdecisionsrequirethatyouweighalternativesinstrictlymonetaryterms.
A:錯B:對
答案:錯
Corporationshavecometodominatethebusinessworldthroughtheirabilitytoraiselargeamountsofcapitalbysaleofownershipsharestoanonymousoutsideinvestors.
A:錯B:對
答案:對
WhichofthefollowingbestdescribeswhytheValuationPrincipleisakeyconceptinmakingfinancialdecisions?
A:Itshowshowtomakethecostsandbenefitsofadecisioncomparablesothatwecanweighthemproperly.
B:Itallowsfixedassetsandliquidassetstobevaluedcorrectly.C:Itgivesagoodindicationofthenetworthofaperson,item,orcompanyandcanbeusedtoestimateanychangesinthatnetworth.
D:Itshowshowtoassignmonetaryvaluetointangiblessuchasgoodhealthandwell-being.
答案:Itshowshowtomakethecostsandbenefitsofadecisioncomparablesothatwecanweighthemproperly.
Whichofthefollowingistypicallythemajorfactorinlimitingthegrowthofsoleproprietorships?
A:
Itisextremelydifficulttotransfercontrolofsuchfirmstoanewownerifthepresentownerdiesorwishestosellthefirm.
B:Investorshaveagreatdealofcontrolovertheday-to-dayrunningofsuchfirms,leadingtoconfusionwhenconflictsindirectionarise.
C:Theorganizationalstructureofsuchfirmstendstobecomeextremelycomplicatedovertime.
D:Theamountofmoneythatcanberaisedbysuchfirmsislimitedbythefactthatthesingleownermustmakegoodonalldebts.
答案:Theamountofmoneythatcanberaisedbysuchfirmsislimitedbythefactthatthesingleownermustmakegoodonalldebts.
Acompanythatproducesracingmotorbikeshasseveralmodelsthatsellwellwithinthemotorcycleracingcommunityandwhichareveryprofitableforthecompany.Despitehavingaprofitableproduct,whymustthiscompanytakecaretoensurethatithassufficientcashonhandtomeetitsobligations?
A:Profitsfromthesalesofpopularmodelswillbelostwhenreturnedtotheshareholdersintheformofdividends.
B:Newmodelswillrequirealotofmoneytodevelopandbringtomarketbeforetheygenerateanyrevenue.
C:Equitymustberaisedtofinancethedevelopmentofnewmodelstoreplacetheexistingmodels.
D:Thecompanywillhavebuiltupdebtswhichmustberepaidinordertobringthecurrentmodelstomarket.
答案:Newmodelswillrequirealotofmoneytodevelopandbringtomarketbeforetheygenerateanyrevenue.
Afactoryownerwantshisworkerstoproduceasmanywidgetsastheycansohepayshisworkersbasedonhowmanywidgetstheyproduce.However,inordertomakesurethattheworkersdonotrushandproducealargenumberofpoorlymadewidgets,hechecksthewidgetsatrandomduringvariousstagesoftheirmanufacture.Ifadefectisfoundinawidget,thepayoftheentiresectionofthefactoryresponsibleforthatdefectisdocked.Howisthisfactoryownerseekingtosolvetheagencyconflictprobleminthiscase?
A:
bymaximizingtheinformationthattheprincipalobtainsaboutthebehavioroftheagents
B:
byensuringthatallworkersco-operatetomaximizethegainsoftheirsection
C:bysupplyingincentivessotheagentsactinthewayprincipaldesires
D:bymakingtheagentsintoprincipalsthemselves
答案:bysupplyingincentivessotheagentsactinthewayprincipaldesires
Whatisthebid-askspread?
A:thedifferenceinpriceavailableforanimmediatesaleofastockandtheimmediatepurchaseofthestock
B:allofthecostsandfeesthatastockexchangechargesinordertoprocessatransaction
C:thedifferenceinthesellingpriceofastockbetweendifferentexchanges
D:theriseorfallinthevalueofastockbetweenthetimeitisacquiredbyaninvestorandsoldbythatinvestor
答案:thedifferenceinpriceavailableforanimmediatesaleofastockandtheimmediatepurchaseofthestock
IntheUnitedStates,publiclytradedcompaniescanchoosewhetherornottheywishtoreleaseperiodicfinancialstatements.
A:對B:錯
答案:錯
第二章測試
TheLawofOnePricestatesthatifequivalentgoodsorsecuritiesaretradedsimultaneouslyindifferentcompetitivemarkets,theywilltradeforthesamepriceineachmarket.
A:錯B:對
答案:對
Ingeneral,ifanactionincreasesafirm'svaluebyprovidingbenefitswithavaluegreaterthananycostsinvolved,thenthatactionisgoodforthefirm'sinvestors.
A:對B:錯
答案:對
Toenablecostsandbenefitstobecompared,theyaretypicallyconvertedintocashvalueatthetimethebenefitisreceived.
A:對B:錯
答案:錯
Wheneveragoodtradesinacompetitivemarket,thepricedeterminesthevalueofthegood.
A:錯B:對
答案:對
Anelderlyrelativeofferstosellyoutheirused1958CadillacEldoradofor$52,000.Younotethatverysimilarcarsaresellingontheopenmarketfor$87,000.Youdon'tcareforclassiccarsandwouldratherbuyanewFordExplorerfor$35,000.WhatisthenetvalueofbuyingtheCadillac?
A:$35,000,sincethisisthevalueofthecarthatyoureallywanttobuy.
B:$52,000,sincetheCadillaccouldbeboughtforthisprice.
C:$87,000,sincetheCadillaccouldbesoldforthisprice.
D:
$35,000,sincethisisthedifferencebetweenpurchaseandresalepriceoftheCadillac.
答案:
$35,000,sincethisisthedifferencebetweenpurchaseandresalepriceoftheCadillac.
ThepriceofAlaskaNorthSlopeCrudeOil(ANS)is$71.75/bbl,andthepriceofWestTexasIntermediateCrudeOil(WTI)is$73.06/bbl.Asanoilrefiner,youareabletoproduce$76worthofunleadedgasolinefromonebarrelofAlaskaNorthSlope(ANS)crudeoil.Becauseofitslowersulfurcontent,youcanproduce$77worthofunleadedgasolinefromonebarrelofWestTexasIntermediate(WTI)crude.Anotheroilrefinerisofferingtotradeyou10,150bblofAlaskaNorthSlope(ANS)crudeoilfor10,000bblofWestTexasIntermediate(WTI)crudeoil.Assumingyoucurrentlyhave10,000bblofWTIcrude,whatshouldyoudo?
A:
Tradethe10,000bblWTIcrudewiththeotherrefinerandrefinethe10,150bblofANScrude.
B:Donothing;refinethe10,000bblofWTIcrude.
C:Tradethe10,000bblWTIcrudewiththeotherrefinerandthensellthe10,150bblofANScrude.
D:
Sell10,000bblWTIcrudeonthemarketandusetheproceedstopurchaseandrefineANScrude.
答案:
Sell10,000bblWTIcrudeonthemarketandusetheproceedstopurchaseandrefineANScrude.
Awholesalefoodretailerisoffered$15.60pertwo-layercartonfor5000cartonsofpeaches.Thewholesalercanbuypeachesfromtheirgrowersat$13.20percarton.Shippingcosts$2.40percarton,forthefirst1000cartons,and$1.90percartonforeverycartonoverthat.Willtakingthisopportunityincreasethevalueofthewholesalefoodretailer?
A:Yes,thecostsare$2500lessthanthebenefits.
B:
No,thecostsandthebenefitsarethesame.
C:No,thecostsare$1500morethanthebenefits.
D:Yes,thecostsare$2000lessthanthebenefits.
答案:Yes,thecostsare$2000lessthanthebenefits.
Whichofthefollowingbestexplainswhymarketpricesareusefultoafinancialmanagerwhenperformingacost-benefitanalysis?
A:Theycanbeusedtodeterminehowmuchanassetcanbesoldfor
B:
Theycanbeusedtoconvertdifferentservicesandcommoditiesintoequivalentcashvalueswhichcanbecompared.
C:Theycanbeevaluatedtodeterminewhetherthemarketinwhichthemanagerexchangesgoodsandservicesofferstruevalue.
D:
Theyallowallcommoditiesandservicestobeassignedafixedandunchangingvalue
答案:
Theycanbeusedtoconvertdifferentservicesandcommoditiesintoequivalentcashvalueswhichcanbecompared.
WalgreensCompany(NYSE:WAG)iscurrentlytradingat$48.75ontheNYSE.WalgreensCompanyisalsolistedonNASDAQandassumeitiscurrentlytradingonNASDAQat$48.50.Doesanarbitrageopportunityexistand,ifso,howwouldyouexploititandhowmuchwouldyoumakeonablocktradeof100shares?
A:No,noarbitrageopportunityexists.
B:Yes,buyonNASDAQandsellonNYSE,make$25.
C:
Yes,buyonNASDAQandsellonNYSE,make$250.
D:Yes,buyonNYSEandsellonNASDAQ,make$25.
答案:Yes,buyonNASDAQandsellonNYSE,make$25.
Thepresentvalue(PV)ofastreamofcashflowsisjustthesumofthepresentvaluesofeachindividualcashflow.
A:對B:錯
答案:對
第三章測試
Preferenceforcashtodayversuscashinthefutureinpartdeterminesnetpresentvalue(NPV).
A:錯B:對
答案:錯
Netpresentvalue(NPV)isthedifferencebetweenthepresentvalue(PV)ofthebenefitsandthepresentvalue(PV)ofthecostsofaprojectorinvestment.
A:錯B:對
答案:對
TheNetPresentValueruleimpliesthatweshouldcompareaproject'snetpresentvalue(NPV)tozero.
A:錯B:對
答案:對
Whendifferentinvestmentrulesgiveconflictinganswers,thendecisionsshouldbebasedontheNetPresentValuerule,asitisthemostreliableandaccuratedecisionrule.
A:對B:錯
答案:對
Thepresentvalue(PV)ofaninvestmentis________.
A:ThedifferencebetweenthecostoftheinvestmentandthebenefitoftheinvestmentindollarstodayB:Thepresentvalue(PV)ofaninvestmentis________.C:Theamountyouneedtoinvestatthecurrentinterestratetore-createthecashflowfromtheinvestmentD:Theamountbywhichthecashflowofaninvestmentexceedsorfallsshortofthecashflowgeneratedbythesameamountofmoneyinvestedatmarketrate
答案:Thepresentvalue(PV)ofaninvestmentis________.
WhichofthefollowingisNOTalimitationofthepaybackrule?
A:Lacksadecisioncriterionthatiseconomicallybased.B:Itdoesnotconsidercashflowsoccurringafterthepaybackperiod.C:Itisdifficulttocalculate.D:Itdoesnotconsiderthetimevalueofmoney.
答案:Itisdifficulttocalculate.
Amanufacturerofvideogamesdevelopsanewgameovertwoyears.Thiscosts$830,000peryearwithonepaymentmadeimmediatelyandtheotherattheendoftwoyears.Whenthegameisreleased,itisexpectedtomake$1.20millionperyearforthreeyearsafterthat.Whatisthenetpresentvalue(NPV)ofthisdecisionifthecostofcapitalis10%?
A:$1,805,663B:$1,520,559C:$1,045,384D:$950,349
答案:$950,349
Aminingcompanyplanstomineabeachforrutile.Todosowillcost$14millionupfrontandthenproducecashflowsof$7millionperyearforfiveyears.Attheendofthesixthyearthecompanywillincurshut-downandclean-upcostsof$6million.Ifthecostofcapitalis13.0%,thenwhatistheMIRRforthisproject?
A:25%B:20%C:60%D:78%
答案:20%
Afarmersowsacertaincrop.Itcosts$240,000tobuytheseed,preparetheground,andsowthecrop.Inoneyear'stimeitwillcost$93,200toharvestthecrop.Ifthecropwillbeworth$350,000,andtheinterestrateis7%,whatisthenetpresentvalue(NPV)ofthisinvestment?
A:$0B:$87,103C:$567,103D:$240,000
答案:$0
Firmsshouldusethemostaccelerateddepreciationschemeallowable.
A:對B:錯
答案:對
第四章測試
Rationalinvestorsmaybewillingtochooseaninvestmentthathasadditionalriskbutdoesnotofferadditionalreward.
A:對B:錯
答案:錯
Onaverage,stockshavedeliveredhigherreturnsthanbondsinthelongrun.
A:對B:錯
答案:對
Weshouldusethearithmeticaveragereturnwhenwearetryingtoestimateaninvestment'sexpectedreturnoverafuturehorizonbasedonitspastperformance.
A:錯B:對
答案:對
Independentriskscanbediversifiedbyholdingalargenumberofuncorrelatedassetswithindependentrisks.
A:對B:錯
答案:對
Rationalinvestors________fluctuationsinthevalueoftheirinvestments.
A:areinfavorofB:areaversetoC:areindifferenttoD:prefer
答案:areaverseto
Independentriskismorecloselyrelatedto_______
A:unsystematicriskB:commonriskC:systematicriskD:diversificationrisk
答案:unsystematicrisk
Astockpricesgavearealizedreturnof15%,15%,-15%,and-15%overfoursuccessivequarters.WhatistheannualrealizedreturnforAfortheyear?
A:-7.12%B:-4.45%C:-5.12%D:0%
答案:-4.45%
FordMotorCompanyhadrealizedreturnsof20%,30%,30%,and20%overfourquarters.WhatisthequarterlystandarddeviationofreturnsforFordcalculatedfromthissample?
A:6.06%B:4.62%C:5.20%D:5.77%
答案:5.77%
Theprobabilitymassbetweentwostandarddeviationsaroundthemeanforanormaldistributionis________.
A:66%B:75%C:90%D:95%
答案:95%
Themarketorequityriskpremiumcanbeestimatedbycomputingthehistoricalaverageexcessreturnonthemarketportfolio.
A:錯B:對
答案:對
第五章測試
Themainadvantagesforafirmingoingpublicaregreaterliquidityandbetteraccesstocapital.
A:錯B:對
答案:對
Equityinvestorsinaprivatecompanyusuallyplantorealizeareturnontheirinvestmentbysellingtheirstockwhenthatcompanyisacquiredbyanotherfirmorsoldtothepublicinapublicoffering.
A:對B:錯
答案:對
Becausethecapitalinvestmentfromangelinvestorsisoftenlargerelativetotheamountofcapitalalreadyinplaceatthefirm,theytypicallyreceiveasizableequityshareinthebusinessinreturnfortheirfunds.
A:對B:錯
答案:對
TheannouncementofanSEOusuallyraisesastock'sprice.
A:錯B:對
答案:錯
Whichofthefollowingbestdescribesalimitedpartnershipthatspecializesinraisingmoneytoinvestintheprivateequityofyoungfirms?
A:familyinvestorsB:venturecapitalfirmsC:corporateinvestorsD:institutionalinvestors
答案:venturecapitalfirms
Youfoundedyourownfirmthreeyearsago.Youinitiallycontributed$200,000ofyourownmoneyandinreturnyoureceived3millionsharesofstock.Sincethen,youhavesoldanadditional2millionsharesofstocktoangelinvestors.Youarenowconsideringraisingcapitalfromaventurecapitalfirm.Thisventurecapitalfirmwouldinvest$5millionandwouldreceive4millionnewlyissuedsharesinreturn.Supposeyousoldthe2millionsharestotheangelinvestorfor$500,000.Whatwasyourpercentageownershipinthecompanyimmediatelyfollowingtheangelinvestor'sinvestment?
A:50%B:60.0%C:100%D:40.0%
答案:60.0%
WhichofthefollowingisanactivitytypicallytakenbyanunderwriterduringanIPOofacompany?
A:helpingthecompanywithallnecessaryfilingsB:marketingtheIPOC:determiningtheofferpriceD:alloftheabove
答案:alloftheabove
WhichofthefollowingstatementsisFALSE?
A:Inrecentyears,theinvestmentbankingfirmofWRHambrecht+CompanyhasattemptedtochangetheIPOprocessbysellingnewissuesdirectlytothepublicusinganonlineauctionIPOmechanismcalledOpenIPO.B:Becauseofthepotentialconflictofinterest,theunderwriterwillnotmakeamarketinthestockaftertheissue.C:Theleadunderwriteristheprimarybankingfirmresponsibleformanagingthedeal.Theleadunderwriterprovidesmostoftheadviceandarrangesforagroupofotherunderwriters,calledthesyndicate,tohelpmarketandselltheissue.D:TheSECrequiresthatcompaniespreparearegistrationstatement,alegaldocumentthatprovidesfinancialandotherinformationaboutthecompanytoinvestors,priortoanIPO.CompanymanagersworkcloselywiththeunderwriterstopreparethisregistrationstatementandsubmitittotheSEC.
答案:TheSECrequiresthatcompaniespreparearegistrationstatement,alegaldocumentthatprovidesfinancialandotherinformationaboutthecompanytoinvestors,priortoanIPO.CompanymanagersworkcloselywiththeunderwriterstopreparethisregistrationstatementandsubmitittotheSEC.
Thechiefadvantageofdebtfinancingoverfinancingthroughraisingequitycapitalisthattheformerdoesnotdilutethecurrentowner'sshareofthebusiness.
A:錯B:對
答案:對
Abondthatmakespaymentsinacertaincurrencycontainstheriskofholdingthatcurrencyandsoispricedaccordingtotheyieldsofsimilarbondsinthatcurrency.
A:錯B:對
答案:對
第六章測試
Financialmanagersprefertochoosethesamedebtlevelnomatterwhichindustrytheyoperatein.
A:對B:錯
答案:對
Eveniftwofirmsoperateinthesameindustry,theymaypreferdifferentchoicesofdebt-equityratios.
A:錯B:對
答案:對
Aproject'snetpresentvalue(NPV)representsthevaluetothenewinvestorsofafirmcreatedbytheproject.
A:對B:錯
答案:錯
Thepresenceoffinancialdistresscostscanexplainwhyfirmschoosedebtlevelsthataretoolowtoexploittheinteresttaxshield.
A:對B:錯
答案:對
Therelativeproportionsofdebt,equity,andothersecuritiesthatafirmhasoutstandingconstituteits________.
A:capitalstructureB:retainedearningsC:
溫馨提示
- 1. 本站所有資源如無特殊說明,都需要本地電腦安裝OFFICE2007和PDF閱讀器。圖紙軟件為CAD,CAXA,PROE,UG,SolidWorks等.壓縮文件請下載最新的WinRAR軟件解壓。
- 2. 本站的文檔不包含任何第三方提供的附件圖紙等,如果需要附件,請聯系上傳者。文件的所有權益歸上傳用戶所有。
- 3. 本站RAR壓縮包中若帶圖紙,網頁內容里面會有圖紙預覽,若沒有圖紙預覽就沒有圖紙。
- 4. 未經權益所有人同意不得將文件中的內容挪作商業(yè)或盈利用途。
- 5. 人人文庫網僅提供信息存儲空間,僅對用戶上傳內容的表現方式做保護處理,對用戶上傳分享的文檔內容本身不做任何修改或編輯,并不能對任何下載內容負責。
- 6. 下載文件中如有侵權或不適當內容,請與我們聯系,我們立即糾正。
- 7. 本站不保證下載資源的準確性、安全性和完整性, 同時也不承擔用戶因使用這些下載資源對自己和他人造成任何形式的傷害或損失。
最新文檔
- 跨境電商1+x復習題+答案
- 2024年新人教版七年級上冊語文教學課件 第5單元19《大雁歸來》
- 2024年新人教版七年級上冊英語教學課件 Unit 4第3課時(Section A Grammar Focus 3a-3d)第3課時(Section A Grammar Focus 3a-3d)
- 勃利縣2025屆六年級數學第一學期期末復習檢測試題含解析
- 滄州市肅寧縣2024年四上數學期末質量檢測試題含解析
- A1戶型等22項總承包工程施工組織設計
- 某電廠擴建工程預應力管樁基礎工程(?550PHC80和?400PHC60)施工組織設計
- 建構區(qū)活動觀察記錄表7篇
- 修屋頂的合同模板
- 舞臺劇未成年人培訓合同
- 《電氣安全知識講座》課件
- 【數據分析】由淺入深學習PowerBI之入門篇課件模板
- 專題06 勻變速直線運動 (解析版)-備戰(zhàn)2024年高中學業(yè)水平考試物理真題分類匯編(新教材通用)
- 大學美育(第二版) 課件 第五單元:書法藝術
- 醫(yī)療美容行業(yè)2024年醫(yī)療美容技術發(fā)展趨勢分析
- 法院執(zhí)行局實習報告
- 電器的發(fā)展變化歷程
- 移動支付便捷支付
- 工會采購物品管理制度
- 《配置盆花營養(yǎng)土》(教案)全國通用三年級上冊綜合實踐活動
- 加固改造工程技術標范本
評論
0/150
提交評論