2014年綜合能力測試2模擬題

；貨等零售業(yè)務家地產(chǎn)主要經(jīng)營與商業(yè)零售相關的商業(yè)地產(chǎn)的投資、開發(fā)、租售及購物；劇，為了在激烈的市場競爭中平穩(wěn)發(fā)展，2013年年初家成立了戰(zhàn)略發(fā)展，，市場策略。并且作為早期發(fā)展起來的零售企業(yè)家占據(jù)大中城市多個繁華地段的商，、，家在開設分店的投資方案中缺乏對當?shù)匚幕⑾M習慣力水平的分析，單調(diào)的打購物的沖擊供應商直接在網(wǎng)絡搭建銷售以及大型超市紛紛開設網(wǎng)上超市對實、，5000㎡的還是租賃此面積的進行分析（假設公司有足夠的現(xiàn)金用于該項目，該項目預計為10，有關資料如下：，。時家地產(chǎn)因為流動不足，無息向家超市借款0.5億元家超市的獨立董認為，獨立董事意見應當取得全體獨立董事1/2的同意，限制徐某行使職權。，。，由于此項目投資巨大而且開發(fā)過程中還要巨大的風險家地產(chǎn)的風險管理委，，選擇具有良好信譽與實力的總包商承建項目，而不是單考慮工程報價因素，Accordingtomaterialone,apply5smodeltoyzeretailAccordingtomaterialtwo,determinewhethersupermarketFuManjiaclaimingarefundof10TVsandcancellingthecontractofthelast80TVsislegalorAccordingtomaterialthree,useP/EratiotocalculatewhethertheagreedacquisitionpriceofsupermarketFuManjiaisreasonable,describetheadvantagesandthescopeoftheapproach.受怎樣的安排，5月5日至6月15日家超市應當履行怎樣的義務。A“2.（1）Thethreatfrompotentialentrantsislow.Establishingalargeretailbusinessrequiressubstantialcapitalinvestmenttoexpandstores.Earlydevelopedofretailenterprisesoccupymoredowntownbusinessresourcesofacity,andfrombarriers.Cooperativerelationshipbuiltformanyyearswithernment,banksandrscreatesanenterprisecontroloveritskeyresourcesandchannels.Theexistingretailgiantshaveeconomiesofscaleandcostadvantages.（2）Threatofsubstitutesappears,morelargerssetupnetworkofsaleschannelsdirectly,aswellaslargesupermarketshaveopenedonlinesupermarket,theimpacttorealsupermarketsappearsgradually.（3）rs’bargainingpowerisweak.Centralizedpurchasingoflargeretailenterprisesandhugenumberoforders,bothpushrstoconductsubstantialbenefit.（4）Strongbargainingpowerofbuyers.Retailhastoomanychoices,customerscanchosedifferentsupermarketsordoonlineshop.（5）Competitionamongtheexistingindustryisstrong.AsWal-Mart,Metro,Carrefour,andotherinternationalretailinggiantenteredmarket,rapidexpandingincreasethecompetitionoftheretailindustry.，替代品逐步顯現(xiàn)大型供應商直接在網(wǎng)絡搭建銷售以及大型超市紛，）（4者討價議價能力強，零售業(yè)的可選擇性大，既可以從不同超市又可以有網(wǎng)）3.（1）方案 4.TheclaimingofsupermarketFuManjiaisillegal.AccordingtotheContractLawof,sellerpartiallydeliversthesubjectandonebatchisnotdeliveredorthedelivereddoesnotmeetthecontract,resultinginthebatchsubjectcannotmeetthepurposeofthecontract,thebuyermayterminatethecontractforthesaleofthisbatch.Terminationofthecontractbecauseofthesubjectwhichdoesnotmeetthecontract,rescissionofthecontractvalidityshallextendtotheappendage.Appendageofthesubjectwhichdoesnotmeetthecontractisterminated,effectivenessdoesnotextendtothemainmaterial.Eveniftheappendagesaredefective,thebuyercanonlycanceltherelatingpartofthecontract.So,supermarketFuManjiacanonlycancelthecontractofthesecond10，物，即使從物部分有瑕疵，買受人盡可解除與從物有關的合同部分。因此家超市僅可就第二批10臺電視的部分解除合同。，5.（1）ThecostofequitycapitalofA=6%+0.9×5%=10.5%TheexpectedP/EratioofA=80%÷（10.5%-6.5%）=20ThestockvalueofFeihong=1000÷1000×20=20yuanpershareTheenterprisevalueofFeihong=20×1000=20millionyuanNegotiationoftheagreementisreasonable.（2）TheadvantagesofP/Emethod:ThedatausedtocalculateP/EratioiseasytoaccessandP/Eratioiseasytocalculate;P/Eratiolinksthepriceandgain,directlyreflectstherelationshipsbetweeninputsandoutputs;P/Eratioiscomprehensive,itcoverseffectoftheriskcompensation,growthrate,dividendpaymentratio.ThescopeofP/EratioisthewhichuseP/Emusthasconsecutiveprofitandβvaluegreaterthan1.市盈率的適用范圍為連續(xù)且β1、被收購公司不得公開募金不得進行重大資產(chǎn)及重大投資行為或者與收購人及其關聯(lián)方進行其他關聯(lián)但收購人為挽救陷入或者嚴重財務的、公告相關過戶辦理進展情況。7.可比公司A少盈少分，不盈不分的原則；保持股利與間的一定比例關系體現(xiàn)了投資風