第一章 单元测试

1、 问题:The Bluebird Company has a $10,000 liability it must pay three years from today.
The company is opening a savings account so that the entire amount will be available when this debt needs to be paid. The plan is to make an initial deposit today and then deposit an additional $2,500 a year for the next three years, starting one year from today. The account pays a 3% rate of return. How much does the Bluebird Company need to deposit today? ( )
选项:
A:$1,867.74
B:$2,079.89
C:$3,108.09
D:$4,276.34
答案: 【
$2,079.89

2、 问题:Suzette is going to receive $10,000 today as the result of an insurance settlement. In addition, she will receive $15,000 one year from today and $25,000 two years from today. She plans on saving all of this money and investing it for her retirement. If Suzette can earn an average of 11% on her investments, how much will she have in her account if she retires 25 years from today? ( )
选项:
A:$536,124.93
B:$541,414.14
C:$546,072.91
D:$595,098.67
答案: 【
$595,098.67

3、 问题:You are investing $100 today in a savings account at your local bank. Which one of the following terms refers to the value of this investment one year from now? ( )
选项:
A:future value
B:present value
C:principal amounts
D:discounted value
答案: 【
future value

4、 问题:

Sara invested $500 six years ago at 5 percent interest. She spends her earnings as soon as she earns any interest so she only receives interest on her initial $500 investment. Which type of interest is Sara earning?

选项:
A:free interest
B:complex interest
C:simple interest
D:interest on interest
答案: 【
simple interest

5、 问题:Shelley won a lottery and will receive $1,000 a year for the next ten years. The value of her winnings today discounted at her discount rate is called which one of the following? ( )
选项:
A:single amount
B:future value
C:present value
D:simple amount
答案: 【
present value

6、 问题:Which one of the following will produce the highest present value interest factor? ( )
选项:
A:6 percent interest for five years
B:6 percent interest for eight years
C:6 percent interest for ten years
D:8 percent interest for five years
答案: 【
6 percent interest for five years

7、 问题:Which one of the following terms is defined as a conflict of interest between the corporate shareholders and the corporate managers? ( )
选项:
A:articles of incorporation
B:corporate breakdown
C:agency problem
D:bylaws
答案: 【
agency problem

8、 问题:Which one of the following is a capital budgeting decision? ( )
选项:
A:determining how many shares of stock to issue
B:deciding whether or not to purchase a new machine for the production line
C:deciding how to refinance a debt issue that is maturing
D:determining how much inventory to keep on hand
答案: 【
deciding whether or not to purchase a new machine for the production line

9、 问题:Which of the following questions are addressed by financial managers? ( )
选项:
A:How should a product be marketed?
B:Should customers be given 30 or 45 days to pay for their credit purchases?
C:Should the firm borrow more money?
D:Should the firm acquire new equipment?
答案: 【
Should customers be given 30 or 45 days to pay for their credit purchases?
Should the firm borrow more money?
Should the firm acquire new equipment?

10、 问题:Which of the following should a financial manager consider when analyzing a capital budgeting project? ( )
选项:
A:project start up costs
B:timing of all projected cash flows
C:dependability of future cash flows
D:dollar amount of each projected cash flow
答案: 【
project start up costs
timing of all projected cash flows
dependability of future cash flows
dollar amount of each projected cash flow

第二章 单元测试

1、 问题:The formula which breaks down the return on equity into three component parts is referred to as which one of the following? ( )
选项:
A:equity equation
B:profitability determinant
C:SIC formula
D:Du Pont identity
答案: 【
Du Pont identity

2、 问题:A firm uses 2008 as the base year for its financial statements. The common-size, base-year statement for 2009 has an inventory value of 1.08. This is interpreted to mean that the 2009 inventory is equal to 108 percent of which one of the following? ( )
选项:
A:2008 inventory
B:2008 total assets
C:2009 total assets
D:2008 inventory expressed as a percent of 2008 total assets
答案: 【
2008 inventory expressed as a percent of 2008 total assets

3、 问题:If a firm has a debt-equity ratio of 1.0, then its total debt ratio must be which one of the following? ( )
选项:
A:0.0
B:0.5
C:1.0
D:1.5
答案: 【
0.5

4、 问题:Which one of the following will decrease if a firm can decrease its operating costs, all else constant? ( )
选项:
A:return on equity
B:return on assets
C:profit margin
D:price-earnings ratio
答案: 【
price-earnings ratio

5、 问题:During the year, Kitchen Supply increased its accounts receivable by $130, decreased its inventory by $75, and decreased its accounts payable by $40. How did these three accounts affect the firm’s cash flows for the year? ( )
选项:
A:$245 use of cash
B:$165 use of cash
C:$95 use of cash
D:$95 source of cash
答案: 【
$95 use of cash

6、 问题:A firm generated net income of $878. The depreciation expense was $47 and dividends were paid in the amount of $25. Accounts payables decreased by $13, accounts receivables increased by $22, inventory decreased by $14, and net fixed assets decreased by $8. There was no interest expense. What was the net cash flow from operating activity? ( )
选项:
A:$876
B:$902
C:$904
D:$922
答案: 【
$904

7、 问题:The Bike Shop paid $2,310 in interest and $1,850 in dividends last year. The times interest earned ratio is 2.2 and the depreciation expense is $460. What is the value of the cash coverage ratio? ( )
选项:
A:1.67
B:1.80
C:2.21
D:2.40
答案: 【
2.40

8、 问题:Canine Supply has sales of $2,200, total assets of $1,400, and a debt-equity ratio of 0.3. Its return on equity is 15 percent. What is the net income? ( )
选项:
A:$138.16
B:$141.41
C:$152.09
D:$156.67
E:$161.54
答案: 【
$161.54

9、 问题:Which one of the following terms is applied to the financial planning method which uses the projected sales level as the basis for determining changes in balance sheet and income statement account values? ( )
选项:
A:percentage of sales method
B:sales dilution method
C:sales reconciliation method
D:common-size method
答案: 【
percentage of sales method

10、 问题:Financial planning: ( )
选项:
A:focuses solely on the short-term outlook for a firm.
B:is a process that firms employ only when major changes to a firm’s operations are anticipated.
C:is a process that firms undergo once every five years.
D:considers multiple options and scenarios for the next two to five years.
答案: 【
considers multiple options and scenarios for the next two to five years.

11、 问题:A firm is currently operating at full capacity. Net working capital, costs, and all assets vary directly with sales. The firm does not wish to obtain any additional equity financing. The dividend payout ratio is constant at 40 percent. If the firm has a positive external financing need, that need will be met by: ( )
选项:
A:accounts payable.
B:long-term debt.
C:fixed assets.
D:retained earnings.
答案: 【
long-term debt.

12、 问题:Which one of the following will cause the sustainable growth rate to equal to internal growth rate? ( )
选项:
A:dividend payout ratio greater than 1.0
B:debt-equity ratio of 1.0
C:retention ratio between 0.0 and 1.0
D:equity multiplier of 1.0
答案: 【
equity multiplier of 1.0

13、 问题:A firm has a retention ratio of 45 percent and a sustainable growth rate of 6.2 percent. The capital intensity ratio is 1.2 and the debt-equity ratio is 0.64. What is the profit margin? ( )
选项:
A:6.28 percent
B:7.67 percent
C:9.47 percent
D:14.63 percent
答案: 【
14.63 percent

14、 问题:The Soccer Shoppe has a 7 percent return on assets and a 25 percent payout ratio. What is its internal growth rate? ( )
选项:
A:3.72 percent
B:4.08 percent
C:4.49 percent
D:5.54 percent
答案: 【
5.54 percent

15、 问题:An increase in which of the following will increase the return on equity, all else constant?( )
选项:
A:sales
B:net income
C:depreciation
D:total equity
答案: 【
sales
net income

第三章 单元测试

1、 问题:Accepting positive NPV projects benefits the stockholders because: ( )。
选项:
A:it is the most easily understood valuation process.
B:the present value of the expected cash flows are equal to the cost.
C:the present value of the expected cash flows are greater than the cost.
D:it is the most easily calculated.
答案: 【
the present value of the expected cash flows are greater than the cost.

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