2022年CFA特許金融分析師考試(LevelⅠ)題庫

［題庫資料］2022年CFA特許金融分析師考試

(LevelI)題庫

1.AlenBishopearnedtherighttousetheCFAdesignationin

September1968.Alenrecentlyretiredfromtheinvestment

managementprofession.Asheisretired,AlennolongerattendsCFA

InstitutesocietymeetingsandhasstoppedpayinghisCFAInstitutedues.

AccordingtotheStandardsofPracticeHandbook,howshouldAlenrefer

tohisaffiliationwiththeCFAProgram?

A.AlenBishop,CFA.

B.AlenBishop,CFA(retired).

C.”IwasawardedtheCFAcharterin1968.”

【答案】C

2.AstatedobjectiveoftheCFAInstituteJsGlobalInvestment

PerformanceStandards(GIPS)isto:

A.EncourageinvestmentcompaniestodeveloptheCodeofEthics

internally.

B.Tofosterthenotionofindustryself-regulationonaglobalbasis.

C.Fostersuperiorinvestmentperformanceamonginvestment

companies.

【答案】B

3.Duringanonsitecompanyvisit,JaneWang,CFA.accidentally

overheardtheChiefExecutiveOfficer(CEO)ofStargazer,Inc.discussing

thecompany,stenderoffertopurchaseDynamicaEnterprises,aretailer

ofStargazerproducts.AccordingtotheCFAInstituteStandardsof

ProfessionalConduct,Wangmostlikelycannotusetheinformation

because:

A.itrelatestoatenderoffer.

B.itwasoverheardandmightbeconsideredunreliable.

C.shedoesnothaveareasonableandadequatebasisfortaking

investmentaction.

【答案】A

4.AccordingtotheStandardsofPracticeHandbook,whichofthe

followingstatementsaboutfairdealingisleastaccurate?TheStandard

relatingtofairdealing:

A.Statesthatmembersshouldtreatallclientsequally.

B.Pertainstobothinvestmentrecommendationsandinvestment

actions.

C.Imposesadutywithrespecttobothclientsandprospective

clients.

【答案】A

5.TheStandardsofPracticeHandbookisleastlikelytorequirea

memberofmember'sfirmtodisclosewhichofthefollowingtoclients

andprospectiveclients?

A.Market-makingactivities.

B.Serviceonapubliclytradedcompany'sboardofdirectors.

C.ObligationtoabidebyCFAInstituteCodeofEthicsandStandards

ofProfessionalConduct.

【答案】C

6.HeidiKrueger,CFA,hasdiscretionaryauthorityovertheaccounts

ofJohnson,forwhomshemanagesaportfolioofenergystocks,and

Osaki,forwhomshemanagesadiversifiedportfolioofdomesticand

internationalstocks.Kruegeralwaysseeksthebestpriceandexecution

andhasdisclosedtoallofherclientstheprocessshefollowstomakeuse

ofsoftdollarsandapplythemforthebenefitofherclients.Intheyear

2008,KruegerappliedsoftdollarsgeneratedfromtheJohnsonandOsaki

accountstopurchaseareportontheeconomicimpactofworldevents,

topurchaseananalysisofthedomesticsteelindustry,andtopurchasea

newconferencetableforheroffice.Kruegerwasincompliancewiththe

CodeandStandardsintheyear2008:

A.Onlyifshehadnotusedsoft:dollarstopayfortheconference

table.

B.Onlyifshehadnotusedsoftdollarstopayfortheconference

tableandhadnotusedsoftdollarsfromthetradingofJohnson's

accounttopayforthereportonthedomesticsteelindustry.

C.Becauseshedisclosedheruseofsoftdollarsandappliedthem

forthedirectandindirectbenefitofherclients.

【答案】A

7.GloriaBrown,CFA,isthefounderandportfoliomanagerofthe

EvergladesFund.Initsfirstyearthefundgeneratedareturnof35%.

Buildingonthefund'sperformance,Gloriacreatednewmarketing

materialsthatshowedthefund'sgross1-yearreturnaswellasthe3-,

and5-yearreturnswhichhecalculatedbyusingback-tested

performanceinformation.Asthemarketingmaterialisusedonlyfor

presentationstoinstitutionalclients,Gloriadoesnotmentionthe

inclusionofback-testeddata.AccordingtotheStandardsofPractice

Handbook,didGloriaviolateanyCFAInstituteStandardsofProfessional

Conduct?

A.No.

B.Yes,becausehedidnotdisclosetheuseofback-testeddata.

C.Yes,becausehefailedtodeductallfeesandexpensesbefore

calculatingthefund'strackrecord.

【答案】B

8.ScottMarshisaresearchanalystforabrokeragefirmfollowing

thecomputerindustry.JoePerryisMarsh'sformercollegeroommate

andistheheadoftechnologyforMercury,alargesoftwarecompany.

PerryinformsMarshonTuesdaythatintwodaysthecompanywillbe

makinganofficialannouncementthatitsreleaseofitsnewestversionof

itssoftwarewillbemoveduponemonth,fromOctober1toSeptember

1.Theannouncementwillbesurprisingtotheindustryandwilllikelybe

metwithskepticismbecausethecompanyhashadtroublemeeting

releasedatesinthepast.PerryassuresMarshthatheiscertainthatthey

willmeettheSeptember1date.MarshconsidersPerrytobeveryhonest

andhighlycompetent.Marshshould:

A.Waituntilthepublicannouncementismade,thenreleasea

reportexplainingthathebelievesthecompanywillmaketherelease

date;disclosingthatoneofthereasonsforhisopinionisPerryisafriend

ofhis.

B.Producehisresearchreportintwodaysbasedsolelyonthe

officialannouncement,nottakingintoconsiderationtheinformation

fromPerry.

C.Waituntilthepublicannouncementismade,thenreleasinga

reportstatingthatheissurethatthecompanywillmakehisreleasedate,

butnotdisclosetherelationshipwithPerry.

【答案】A

9.Wheneveraninvestmentmanagementfirmpresentsinvestment

performanceincompliancewiththeGlobalInvestmentPerformance

Standards(GIPS),itmuststatehowitdefinesitselfasafirm.UnderGIPS,

afirmmaydefineitselfforthepurposeofclaimingGIPScompliance

usinganyofthefollowingoptionsexceptwhen:

A.Anentityisregisteredwiththeappropriatenationalregulatory

authorityoverseeingtheentity,sinvestmentmanagementactivities.

B.Allassetsaremanagedtooneormorebasecurrencies.

C.ThesubsidiaryordivisionofacompanyclaimsGIPScompliance

whentheparentcompanyisGIPScompliant.

【答案】C

10.BillKimm,CFAownsanassetmanagementfirmwithoffices

downtown.Tominimizerentexpenses,eachyearBillshipstheprevious

year'sresearchrecordstoanearbywarehouse.There,thereportsare

digitizedandstoredinbothelectronicandhard-copyforms.Afterfive

years,allpapercopiesaredestroyedandonlyelectroniccopiesare

retained.AreBilTsrecord-retentionproceduresincompliancewiththe

CFAInstituteStandardsofPractice?

A.Yes.

B.No,becausehedidnotretainthecopiesinhisoffices.

C.No,becausehefailedtoretaintheoriginaldocuments.

【答案】A

11.DudleyThompsonisabondsalesmanforasmallbroker/dealer

inLondon.Hisfirmistheleadunderwriteronanewjunkbondissuefor

theIbexCorporation.Inordertostimulatesalesofthenewissue,

Thompsoncallsallofhisaccountsover￡1,000,000,manyofwhich

belongtoelderlyclientswithlowrisktolerances,andtellsthemthatthe

Ibexissueisafantasticopportunityforhighreturnsthatisnottobe

missed.ThompsonalsopostsoverlyoptimisticprojectionsforIbex's

performanceonseveralInternet"chatrooms"inordertoincreasethe

priceofthebondissueandenhancehisclients'returnsonthe

investment.AccordingtotheStandardsconcerningmarketmanipulation

andsuitability,Watsonisinviolationof:

A.bothoftheseStandards.

B.neitheroftheseStandards.

C.onlyoneoftheseStandards.

【答案】A

12.RobElliott,aCFAcandidate,isananalystwithalargeasset

managementfirm.Hispersonalportfolioincludesalargeamountof

commonstockofTECHInc.,asemiconductorcompanywhichhisfirm

doesnotcurrentlyfollow.Thedirectoroftheresearchdepartmenthas

justaskedElliotttoanalyzeTECHandwriteareportaboutitsinvestment

potential,whichwillbedistributedtoclientsandprospectiveclients.

BasedontheCFAInstituteStandardsofProfessionalConduct,themost

appropriatecourseofactionforElliottotakewouldbeto:

A.sellhissharesofTECHbeforecompletingthereport.

B.declinetowritethereport.

C.disclosetheownershipofthestocktohisemployerandinthe

reportifhewritesit.

【答案】c

13.AntonioMendoza,CFA,isaninvestmentmanagerinprivate

practiceunderthenameMendozaInvestments.Mendozasolicitsnew

businessbymakingbriefpresentationsdescribinghisinvestment

performancerecord.Ateachpresentation,hemakesavailablea1

informationsheetthatoutlineshisperformancehistoryforthepastten

years.Histelephonenumberisonthesheetforprospectiveclientswho

wishtocontacthimforadditionalsupportinginformation.Atthebottom

ofthesheetthefollowingisstated:"MendozaInvestmentshasprepared

andpresentedthisreportincompliancewiththeGlobalInvestment

PerformanceStandards(GIPS?)."Mendoza'sinformationsheet:

A.doesnotcomplywithGIPS.

B.violatestheStandardthatconcernsperformancepresentation.

C.complieswithbothGIPSandtheStandardthatconcerns

performancepresentation.

【答案】C

14.AnneFranklin,CFA,isananalystwhocoverstechnologystocks

forMedallionInvestments.Franklinfrequentlymeetswithcompany

managementandmakessitevisitstocompanyfacilities.CynthiaLucas,

chieftechnologyofficerforLevelTech,tellsseveralanalysts,including

Franklin,duringaconferencecallthatoverseasshipmentsofthe

company'simportantnewproductaregoingtobedelayeddueto

manufacturingdefects,whichsheexpectsarecorrectable.This

informationhasnotbeenreleasedinanyotherformat.Medallion

managesdiscretionaryaccountsforLucasandFranklin.Subsequentto

hermeeting,FranklinsendsanotetoMedallion'sinvestmentpersonnel

tellingthemto"sellthestockinallclientaccounts,"astheshipment

informationissignificantandcontrarytorecentearningsguidancefrom

thecompany.Franklin'suseoftheinformationreceivedfromLucas:

A.violatestheCodeandStandards,asFranklinreceivedmaterial

nonpublicinformationthatshouldnothavebeenactedupon.

B.violatestheCodeandStandards,sinceshedirectedthesaleinall

clientaccountsinsteadofactinginthebestinterestsofherownclients.

C.doesnotviolatetheCodeandStandards,asFranklinwas

adheringtoherfiduciarydutytoMedallion'sclientsbysharingthe

informationandrecommendinga"Sell."

【答案】A

15.RJ.Youngismeetingwithanewclientforthefirsttime.Atthis

meeting,hewillbegatheringinformationabouttheclientinorderto

assesstheclient'sinvestmentobjectivesandconstraints.Ashedoesfor

allofhisclients,Youngwillthenprepareawritteninvestmentpolicy

statement(IPS).Accordingtotherecommendedproceduresfor

complyingwiththeStandardonsuitability,whichofthefollowing

statementsregardinganIPSisleastaccurate?

A.AnIPSshoulddescribetherolesandresponsibilitiesofthe

adviserandclient.

B.Amemberorcandidateisnotresponsibleforfinancial

informationwithheldbytheclient.

C.Aclient'sIPSmustbeupdatedatleastquarterlytoreflectany

changesintheirinvestmentprofile.

【答案】C

16.SueJohnson,CFA,hasanelderlyclientwithaverylargeasset

base.Theclientintendstostartdivestingherfortunetovariouscharities.

JohnsonisontheBoardofalocalcharitablefoundation.Johnsonmost

appropriately:

A.mustnotdiscussanythingregardingherclientandherclient's

intentionswiththecharitablefoundationwithoutpermission.

B.candiscussherclient'ssituationwiththecharitablefoundation

aslongassheinformsotherlocalcharitiesofherclient'sintentions.

C.canmakethisknowntothecharitablefoundationsothatthey

cansolicittheclient,sinceitistheclient'swishtodivestassetsto

charitiesinthefuture.

【答案】A

17.AccordingtotheStandardrelatedtoloyalty,prudence,andcare,

whichofthefollowingstatementsregardingthevotingofproxieson

clientholdingsisleastaccurate?

A.Proxieshaveeconomicvaluetoaclient.

B.Aninvestmentmanagementfirmshouldvoteallproxiesonclient

holdingsunlesstheclientreservesthatright.

C.Membersandcandidatesshouldexplicitlydisclosethefirm's

proxyvotingpoliciestoclients.

【答案】B

18.AlvinGold,CFA,residesinCountryTanddoesbusinessasan

investmentadvisorprimarilyinCountryU.CountryTallowstradingon

non-publicinformationanddoesnotrequiredisclosureofreferralfees.

CountryUprohibitstradingonnon-publicinformationonlyifitisgained

byillegalmeansandrequiresdisclosureofreferralfeesofover$100(U.S.

equivalent).Goldacceptsareferralfeeof$75,andinthecourseofa

meetingwithtwootheranalystsandthefirm'sCFO,Goldreceives

materialnon-publicinformation.TocomplywiththeCodeandStandards,

Gold:

A.neednotdisclosethereferralfeebutcannottradeonthe

non-publicinformation.

B.mustdisclosethereferralfeeandcannottradeonthenon-public

information.

C.mustdisclosethereferralfeebutmaytradeonthenon-public

information.

【答案】B

19.Threeyearsfromnow,aninvestorwilldepositthefirstofeight

$1,000paymentsintoaspecialfund.Thefundwillearninterestatthe

rateof5%peryearuntilthethirddepositismade.Thereafter,thefund

willreturnareducedinterestrateof4%compoundedannuallyuntilthe

finaldepositismade.Howmuchmoneywilltheinvestorhaveinthe

fundattheendoftenyearsassumingnowithdrawalsaremade?

A.$8,872.93.

B.$9,251.82.

C.$9,549.11.

【答案】B

20.Aninvestorplaces$5,000inanaccount.Thestatedannual

interestrateis6%compoundedmonthly.Thevalueoftheaccountatthe

endofthreeyearsisclosestto:

A.$5,970.

B.$5,978.

C.$5,983.

【答案】C

21.Thefollowingtablesummarizestheresultsofapoll

(hypothetically)takenofCFAcharterholdersandCFAcandidates

regardingtheimportanceofacontinuingeducationrequirementafter

theCFAdesignationisobtained:

Giventheinformationthatamemberofthegroupisinfavorofa

continuingeducationrequirement,whatistheprobabilitythatsheisa

CFAcandidate?

A.18%.

B.37%.

C.43%.

【答案】C

22.StephenKroller,CFA,analyzesinternationalequityfunds.Kroller

constructsasampleofinternationalequitymutualfundsthathaveat

leasta10-yearperformancehistory.Basedonthereturnsofthefundsin

hissample,Krollerconcludesthatinternationalequityfunds

outperformedtheircomparableU.S.stockindexesoverthe10-year

period.Kroller'ssampleandtestresultsaremostlikelysubjectto:

A.look-aheadbias.

B.timeperiodbias.

C.survivorshipbias.

【答案】C

23.Whichofthefollowingstatementsaboutcommonprobability

distributionsisleastaccurate?

A.Aprobabilitydistributionspecifiestheprobabilitiesofthe

possibleoutcomesofarandomvariable.

B.Inabinomialprobabilitydistribution,eachobservationhasonly

twopossibleoutcomesthataremutuallyexclusive.

C.Anormaldistributionisadiscretesymmetricprobability

distributionthatiscompletelydescribedbytwoparameters:itsmean

andvariance.

【答案】C

24.Forabinomialrandomvariablewitha40%probabilityof

successoneachtrial,theexpectednumberofsuccessesin12trialsis

closestto:

A.4.8.

B.5.6.

C.7.2.

【答案】A

25.Whichofthefollowingstatementsabouttheunivariate,

multivariate,andstandardnormaldistributionsisleastaccurate?

A.Aunivariatedistributiondescribesasinglerandomvariable.

B.Amultivariatedistributionspecifiestheprobabilitiesforagroup

ofrelatedrandomvariables.

C.Thestandardnormalrandomvariable,denotedZ,hasmean

equaltooneandvarianceequaltoone.

【答案】C

26.Ananalystcollectsdatarelatingtofivecommonlyused

measuresoffinancialleverageandinterestcoverageforarandomly

chosensampleof300firms.Thedatacomefromthosefirms'fiscalyear

2013annualreports.Thesedataarebestcharacterizedas:

A.timeseries.

B.longitudinal.

C.crosssectional.

【答案】C

27.Asampleof25observationshasameanof8andastandard

deviationof15.Thestandarderrorofthesamplemeanisclosestto:

A.1.60.

B.3.00.

C.3.06.

【答案】B

28.Ifastock'scontinuouslycompoundedreturnisnormally

distributed,thenthedistributionofthefuturestockpriceisbest

describedasbeing:

A.aStudent'st.

B.lognormal.

C.normal.

【答案】B

29.Independentsamplesdrawnfromnormallydistributed

populationsexhibitthefollowingcharacteristics:

Assumingthatthevariancesoftheunderlyingpopulationsare

equal,thepooledestimateofthecommonvarianceis2,678.05.The

t-teststatisticappropriatetotestthehypothesisthatthetwopopulation

meansareequalisclosestto:

A.1.90.

B.0.29.

C.0.94.

【答案】C

30.Thefollowinginformationisavailableforaportfolio:

Thereturnontheportfolioisclosestto:

A.10.0%.

B.82%

C.10.8%.

【答案】C

31.Whichofthefollowingismostlikelyusedbytechniciansto

measureinter-marketrelationships?

A.Fibonacciratios.

B.Stochasticoscillators.

C.Relativestrengthanalysis.

【答案】C

32.Whichofthefollowingwouldleastlikelybecategorizedasa

multivariatedistribution?

A.Thedaysastocktradedandthedaysitdidnottrade.

B.ThereturnofastockandthereturnoftheDJIA.

C.ThedaysastocktradedandthedaystheDJIAwentup.

【答案】A

33.Accordingtothecrowding-outmodel,persistent,large

governmentbudgetdeficitsaremostlikelytobeassociatedwitha(n):

A.increaseinnetexports

B.decreaseinprivatespending

C.decreaseintherealrateofinterest

【答案】B

34.Basedonhistoricaldataandassumingless-than-full

employment,periodsofsharpaccelerationinthegrowthrateofthe

moneysupplytendtobeassociatedinitiallywith:

A.anincreaseinthevelocityofmoney

B.reductionsinrealgrossdomesticproduct

C.arapidgrowthingrossdomesticproduct

【答案】C

35.AllenChen,CFA,statedthat,forthetypicalcompany,accounting

profittendstobegreaterthaneconomicprofitbecauseexplicitcostsare

generallynotincludedincalculatingaccountingprofit.Istheanalyst

correctwithrespecttothe:

Relationshipbetween

accountingprofitandeconomicprofit?Inclusionofexplicit

costs?

A.NoNo

B.NoYes

C.YesNo

【答案】C

36.Monthlydemandforgasolineataparticularlocation,asa

functionofthepriceofgasolineandthepriceofbustravel,isgiven(in

hundredsofgallons)asQD=300-15Pgas+2Pbus"Theslopeofthe

demandcurveforgasolineisclosestto:

A.-0.07.

B.-0.13.

C.-15.00.

【答案】A

37.Whichofthefollowingstatementsaboutmonopolistsismost

accurate?

A.Monopolistshaveimperfectinformationaboutdemand.

B.Withoutgovernmentintervention,monopolistswillalwaysearn

economicprofits.

C.Amonopolistmaximizestotalrevenuewheremarginalrevenue

equalsmarginalcost.

【答案】A

38.Acentralbank'sabilitytoachieveitspolicygoalsismostlikelyto

belimitedbyavailableresourceswhenwhichofthefollowingactual

ratesisbelowitstargetrate?

A.Interestrate.

B.Inflationrate.

C.Exchangerate.

【答案】C

39.Whichofthefollowingstatementsregardingthemoneysupply

anddeterminationofshort-terminterestratesisleastaccurate?

A.Onbalance,growthinrealGDPtendstoincreasethe

transactionaldemandformoney.

B.Iftheshort-terminterestrateisgreaterthantheequilibriumrate,

therewillbeexcesssupplyofrealmoneybalances.

C.Anincreaseintherealmoneysupplyfromaninitialequilibrium

situationwillcausehouseholdsandbusinessestosellinterest-bearing

securities.

【答案】C

40.Whatarethemostlikelyeffectsonaggregatedemandinthe

currentperiodofanincreaseinexpectedfutureincomesandofan

increaseinthemoneysupply?

A.Bothincreaseaggregatedemand.

B.Bothdecreaseaggregatedemand.

C.Oneincreasesaggregatedemandandonedecreasesaggregate

demand.

【答案】A

41.Anincreaseinthesupplyofcarsismostlikelytobecausedbya

(n)：

A.increaseinwages.

B.decreaseinpriceofsteel.

C.decreaseinthepriceofcars.

【答案】B

42.WithrespecttotheIS-LMmodel,inanLMcurvethereal

interestrateis:

A.positivelyrelatedtorealincome,holdingtherealmoneysupply

constant.

B.heldconstant,resultinginexcesssavingsbeingpositivelyrelated

torealincome.

C.negativelyrelatedtorealincome,holdingthemarginal

propensitytosaveconstant.

【答案】A

43.Anindividualseesherincomerisefrom$80,000to$88,000,and

alongwithit,herconsumptionofGoodXhasdecreasedfromeight

dozenpackagesperyeartosixdozenpackagesperyear.GoodXshould

beclassifiedasa(n):

A.normalgood.

B.veblengood.

C.inferiorgood.

【答案】C

44.TheKeynesianviewsuggeststhatthegovernmentcanreduce

aggregatedemandbyusing:

A.restrictivefiscalpolicytoshiftthegovernmentbudgettowarda

surplus(orsmallerdeficit).

B.restrictivefiscalpolicytoshiftthegovernmentbudgettowarda

deficit(orasmallersurplus).

C.expansionaryfiscalpolicytoshiftthegovernmentbudgettoward

asurplus(orasmallerdeficit).

【答案】A

45.Whichofthefollowingisleastlikelytobeconsideredabarrier

todevelopingoneuniversallyrecognizedsetofreportingstandards?

A.Differencesofopinionamongvariousregulatorybodies.

B.Reluctanceoffirmstoadheretoasinglesetofreporting

standards.

C.Politicalpressurefromstakeholdersaffectedbyreporting

standards.

【答案】B

31.Ananalysisdeterminedthatapproximately99percentofthe

observationsofdailysalesforacompanywerewithintheintervalfrom

$250,000to$580,000andthatdailysalesforthecompanywere

normallydistributed.Themeandailysalesandstandarddeviationof

dailysales,respectively,forthecompanywereclosestto:

MeandailysalesStandarddeviationofdailysales

A.$415,000$41,667

B.$415,000$55,000

C.$355,115$41,667

【答案】B

32.Thejointprobabilityofreturns,forsecuritiesAandB,areas

follows:

ThecovarianceofreturnsofAandBis:

A.6%

B.12%

C.24%

【答案】A

33.Doesthequantitytheoryofmoneyassumethatinthelongrun:

PotentialGDPisinfluencedthepricelevelisinfluenced

bythequantityofmoney?bythequantityofmoney?

A.NoNo

B.NoYes

C.YesNo

【答案】B

34.Whichofthefollowingconditionisleastlikelytobetheobstacle

totheefficientallocationofproductiveresources:

A.Pricecontrols

B.Taxesandtraderestrictions

C.Perfectcompetition

【答案】C

35.Whichofthefollowingconditionisleastlikelytobethereason

thatablackmarketisgenerallyinefficient:

A.Unenforceablecontract

B.Increasedpricesrequiredbysuppliersduetotheriskof

prosecution

C.Intensivecontrolbythegovernment

【答案】C

51.Duringaperiodofdecliningprices,acompanyusingtheLIFO

inventorymethodinsteadofFIFOwouldmostlikelyreport:

A.highercurrentassetsandlowergrossincome

B.highercurrentassetsandhighergrossincome

C.lowercurrentassetsandlowergrossincome

【答案】B

52.Duringperiodsofrisingpricesandstableorincreasinginventory

quantities,usingFIFOcomparedtousingLIFOismostlikelytoresultin:

A.alowernetprofitmargin.

B.lowertaxes.

C.alowerinventoryturnoverratio.

【答案】C

53.Ananalysthascalculatedthefollowingratiosfromacompany,s

financialstatements:

Basedontheinformationabove,during2009,didthecompany

experienceanincreaseinthe:

Assetturnoverratio?Financialleverageratio?

A.NoNo

B.NoYes

C.YesNo

【答案】B

54.AlesseecompanynamedYYKcorporationenteredintoanew

capitalleaseagreementwithitspartner.Theleasepaymentsare

$200,000annuallyandaredueattheendofeachyearfortenyears.The

appropriatediscountrateis10percent.Depreciationisonastraight-line

basiswithzerosalvagevalue.Thetotalexpensethatshouldbereported

onthecompany'sincomestatementforth