A.Fundamental analysis
B.Operational efficiency
C.Technical analysis
D.Semi-strong form efficiency
第1题
The company has the following targets for the next year:
What is the net investment in working capital required for the next year?
A.$8,125,000
B.$4,375,000
C.$2,875,000
D.$6,375,000
第2题
king capital should increase as sales increase 2 An increase in the cash operating cycle will decrease profitability 3 Overtrading is also known as under-capitalisation
A.1 and 2 only
B.1 and 3 only
C.2 and 3 only
D.1, 2 and 3
第3题
be a solution? 1 Imperfect competition 2 Social costs or externalities 3 Imperfect information
A.1 only
B.1 and 2 only
C.2 and 3 only
D.1, 2 and 3
第4题
dividend of 33·6 cents in one year’s time. The company has a cost of equity of 13%. What is the market price of the company’s shares to the nearest cent on an ex dividend basis?
A.$3·20
B.$4·41
C.$2·59
D.$4·20
第5题
Which of the following statements is correct?
A.Governments may choose to raise interest rates so that the level of general expenditure in the economy will increase
B.The normal yield curve slopes upward to reflect increasing compensation to investors for being unable to use their cash now
C.The yield on long-term loan notes is lower than the yield on short-term loan notes because long-term debt is less risky for a company than short-term debt
D.Expectations theory states that future interest rates reflect expectations of future inflation rate movements
第6题
The following are extracts from the statement of financial position of a company:
The ordinary shares have a nominal value of 50 cents per share and are trading at $5·00 per share. The preference shares have a nominal value of $1·00 per share and are trading at 80 cents per share. The bonds have a nominal value of $100 and are trading at $105 per bond.
What is the market value based gearing of the company, defined as prior charge capital/equity?
A.15·0%
B.13·0%
C.11·8%
D.7·3%
第7题
following government actions relate predominantly to fiscal policy? 1 Decreasing interest rates in order to stimulate consumer spending 2 Reducing taxation while maintaining public spending 3 Using official foreign currency reserves to buy the domestic currency 4 Borrowing money from the capital markets and spending it on public works
A.1 only
B.1 and 3
C.2 and 4 only
D.2, 3 and 4
第8题
s to a fall in share price 2 Investors faced with increased risk will expect increased return as compensation 3 The cost of debt is usually lower than the cost of preference shares
A.2 only
B.1 and 3 only
C.2 and 3 only
D.1, 2 and 3
第9题
mium to their nominal value of $100 per loan note. The before-tax cost of debt of the company is 9% and the after-tax cost of debt of the company is 6%. What is the current market value of each loan note?
A.$92·67
B.$108·90
C.$89·93
D.$103·14
第10题
t the same as economic profit 2 Profit takes account of risk 3 Accounting profit can be manipulated by managers
A.1 and 3 only
B.1 and 2 only
C.2 and 3 only
D.1, 2 and 3
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