Which of the following is LEAST likely to fall within financial management?
A.The dividend payment to shareholders is increased
B.Funds are raised to finance an investment project
C.Surplus assets are sold off
D.Non-executive directors are appointed to the remuneration committee
第1题
ments. In terms of capital market efficiency, to which of the following does the investor’s belief relate?
A.Fundamental analysis
B.Operational efficiency
C.Technical analysis
D.Semi-strong form efficiency
第2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3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4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5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6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7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8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9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10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
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