2023年財務管理英文筆試題

筆試題考試題型:一、從下列選項中選出最佳答案（40ｘ1．５＝６０分)二、計算題（１0x2=20分)三、段落中英互譯（5x4=20分）Paｒt=1\*ＲOMANIChoicequestｉons40x１.5=60pｏints)（Pleaseｗｒitｅｙｏurａｎsweriｎthefｏｌloｗingtable)1.Ｆinanｃiａｌstatｅmenｔdoesnｏtinｃlｕdｅ()A.balanｃesheetB.iｎcｏmestateｍenｔC.ｃａｓhfｌowｓtａt(yī)emenｔD.ｗorkｉngsｈeet2.Aninｃrｅaseiｎｗｈiｃｈoneoｆthefolloｗingwillinｃreasetｈeｏpｅratingｃaｓhfｌow?A.ｅmpｌｏyeｅsalariｅｓB．oｆficerentＣ．buildingmaintｅｎａｎceD.eｑｕipｍeｎtｄeｐreciation3．Theｐrｏceｓｓofpｌanningandmａｎagingaｆirm’sｌong-ｔｅrminｖestmｅntsisｃａlｌｅd:A．wｏrkｉnｇcapiｔalmanaｇement．B.financialｄｅpｒeciation.C.capitalbｕdgｅtｉng.Ｄ．caｐitalｓtructurｅ.4.Ｃasheqｕivalentｓinｃｌude()A.tiｍｅdepｏsｉtｓB．inｖentorｉesC．ａccoｕｎtsreceｉvaｂlｅD.prepaidexpeｎsｅs５.Thｅｉnternａlrateｏfrｅturnforａｐrojectwiｌｌiｎｃｒeaｓeiｆ:A.ｔheｉnitiａlｃostoｆtheprojecｔcａnberｅdｕced.B．thetｏtalamounｔofthecasｈinflｏｗsisreduceｄ．C.tｈerequiredratｅｏｆreturnｉsreduced.D.ｔhesａlｖaｇeｖaｌueｏfｔheｐｒojectiｓoｍitteｄｆromtｈeanalysis.6．Whichofthefｏllowinｇbelonｇｓtｏcurreｎｔliabiｌｉtieｓ?()A.mortgagｅsｐayaｂleB．prepａidexpensesC.ｎoteｓｐaｙabｌeD.ｂondspayable７．Youｓpeｎt$50０l(fā)aｓtweeｋfixｉngthｅtｒａnsmissioninyouｒｃar.Now,thebrａkｅsareactiｎgupandyouａrｅtrｙingtodecideｗｈethertofiｘthemｏrtｒadeｔhｅｃarinfｏｒaneweｒmodel．Inanaｌyzingtｈebrａkesiｔuａt(yī)ｉon,thｅ$５00youspentfiｘinｇｔhetransｍｉssｉonisa(n）___cost.A.oppoｒtuniｔｙB.sunkＣ．iｎｃｒemｅntalD．ｆｉxed8．Whichｏftｈefolｌowinｇstａt(yī)eｍenｔｓarｅcoｒrｅctcｏncerningdiverｓifiａbleriｓｋs?I．Diｖｅrsifiableriskscaｎｂｅｅｓsenｔiallyelimｉnatｅｄbyｉｎvestｉｎgiｎｓｅvｅraｌsecurities.II.Tｈｅmａrketｒewardsinvｅstorsforｄivｅｒsiｆiableriｓkbｙpayiｎgariskｐremｉum.III.?Diversiｆiaｂleｒisksａregeneralｌyassｏｃiａt(yī)eｄwiｔhaninｄividualfiｒｍoｒｉnｄusｔry.IV.Betaｍeasuresdiversifiableriｓk.A.IａndIＩＩonlyB．IIａndＩVonlyC.IandＩVｏnｌyＤ．IIandＩIIｏｎlｙ９.Whiｃｈoftheｆｏllowｉngisaliabilityaccounｔ?（)Ａ.preｐaidinsuｒanceB.addiｔionaｌpaid-ｉｎcａｐitａｌC.sａlarieｓpayａbleD.accumulａt(yī)eddｅpｒecｉation10．Aｃcounｔaｎｔｓeｍployedbylargecoｒporatｉonｓmａywoｒkiｎthｅareasofｔhefoｌｌｏｗingexcｅpt(）Ａ.productcostinｇaｎdpriｃingB.ｂudgeｔingC．inｔernalauditｉｎｇＤ.proｄuctproｄｕciｎg11.Acｏrporation’sfiｒstsaｌeoｆｅｑｕitymaｄｅavailablｅtotheｐubliciscaｌｌeｄa(ｎ):（)A.ｓharｅrｅpuｒchaseprogram．B.prｉｖatepｌaｃｅmenｔ.C.inｉtｉａlpubliｃofｆeｒiｎg（IPO)．D.seaｓonedeｑuitｙｏｆfering（SEO）． 12.Standａrddeviaｔioｎmeａsureｓ_＿__ｒisk.A．totalB.noｎｄｉversｉfｉablｅC.unsystｅmaticD．ｓｙｓtematic13.()istheｖａlueaｔsomeｆuｔurｅtｉmｅoｆaｐrｅsentamouｎtofmoney，oraseｒiｅsｏfpaymenｔs,evaｌuａt(yī)edatagivenｉnterestratｅ.Ａ.ｆuturevａlueB.preｓenｔｖalueC.ｉｎｔｒinsicｖaｌueD.marketvalue14.ElleｓｍｅreCｏrｐorａt(yī)ionissues1million$1parvalueｂｏnds．Thesｔatedinｔeｒesｔratｅis8％peｒyeａｒａnｄtｈeｉｎterestisｐaidｔwｉｃeａｙeaｒ.Whａt(yī)istherｅalintｅrｅｓtrａt(yī)eofｔheboｎd?()A.6％Ｂ.4%C.1０%D.(１+8%/２)2－１15.Yｏurｆirmpｕrcｈasedawaｒehｏusefor$3３５，00０sｉｘyeａrsago．Ｆoｕryeaｒsagｏ,repairsｗeremａdetoｔhebuilｄingwhiｃｈcost$6０,00０．Thｅａｎｎuａｌtａxｅsonthepｒopeｒｔｙａre$20,000.Ｔheｗarehｏuseｈasacｕrrentbｏｏｋvaluｅｏf$268,000anｄaｍａrｋｅtvａｌueof$２95,0００.Thewａrehouｓｅistotalｌypaidfoｒandsｏｌeｌｙownedbyyourｆirｍ.Ifthecｏmpaｎydecidｅｓtｏassｉgnｔhiｓｗarehｏuseｔoanｅwｐｒoject,whatvaｌue,ifanｙ，shoｕlｄbeｉｎcｌudedintheｉniｔialcａsｈflｏｗｏｆｔｈeｐrojectforthisｂuilding?（)A.＄268，000B.$2９５,００0Ｃ.$3９5,000Ｄ．$５15,00０16.Wｈｉchoneｏfthefollｏwｉnｇｗillｄeｃreasｅtｈeopｅratｉngcyｃlｅ?A.payingaccｏｕｎtspayablefaｓｔerＢ.ｄiscｏｎtinｕiｎｇｔｈediscｏuntgivenforeａrlypaymｅntoｆanａccoｕntsreｃeivableC.decreasiｎgthｅｉnveｎtｏrytuｒnoｖerraｔeD.collｅｃtiｎgaccountsrｅceivablefaster?１7.ＡssｕmethatdiｖidｅndｓofacommonsｔoｃkｗiｌlｂｅmaintainｅdaｔDforeveｒ，andtherｅquiredreturnoftheｓtockholdeｒｉsr，tｈeｐarvalｕeoｆthesｔockism,ｔhevａlueoｆtｈestoｃkis()A.ｍB．m+DC.m+D/rＤ.D/r18.Wｈichofthefｏｌｌｏwｉngitｅmshａsthemostｒiｓk？(）A.tｒeａsｕrybｉｌｌＢ.ｃorpｏrａt(yī)ebondC.prｅfeｒreｄstｏckＤ.commoｎsｔock19.()eqｕalsｔhegrosｓprofitｄiｖｉｄｅdbｙnｅｔsaleｓｏfaｆiｒｍ.A.grossｐｒoｆｉｔmarginB.netpｒofitmarｇinC.ｒetuｒｎｏniｎｖestｍｅｎtＤ.returnoｎequity20.()iｓtｈeratioｓthａt(yī)measｕreａｆirm’sabilitｙtomeetｓhｏrt-termoblｉｇａｔionｓA.lｉｑuiｄitｙraｔiｏsB.levｅrａgeｒatioｓＣ.covｅraｇeratｉosD.ａcｔivityrａｔios2１.Ｓｅnsｉtivityａｎalysｉshelｐsyｏudeterｍinｅｔｈe：A.rangｅoｆpossiblｅoｕｔcomesgivenpｏssｉｂｌerａｎgesｆorｅvｅｒyvaｒiａbｌｅ．B．ｄeｇrｅetoｗhｉｃhtｈeｎｅtpreｓentvaluｅreactsｔｏcｈangesinasinｇｌevａrｉablｅ.C.neｔprｅsｅｎｔvａluegiｖenｔhebestａｎｄｔheｗorstpｏssiblｅｓituations.D.deｇreｅtowhiｃhaproｊectisｒeｌｉantuｐｏnthefixedｃｏsts.22.AccｏrdingGＡAPrevenｕｅｉsrｅcogｎizedａｓincoｍewｈen:（）A．aｃontrａｃtissiｇnedtoperfoｒｍaserviｃeordeliveｒagood.B.ｔｈetｒａnsactiｏniscomplｅteaｎdtheｇoodsoｒsｅrvicesdｅlｉｖered.C．paymentｉsreceiｖｅd.D．ｉncomｅtaxesarepａid.E.allofｔheaｂovｅ.2３.()istheｒesuｌtofNeｔＰrｏfiｔＭａrｇin×toｔalassetturnｏｖer×(ｔotalaｓsets/sharｅholders’eｑuity）Ａ．ＲeｔuｒnｏneｑｕityＢ．returｎｏninvestmentC.curｒeｎtraｔioＤ.quiｃｋrａt(yī)io2４．Goverｎmeｎｔｔａxlawaｄｊusｔmｅntis()tｏaｆirm.A.geneｒaleconｏｍicriskB．inflａt(yī)iｏnanｄｄeｆlａt(yī)ionriskC.fiｒm-spｅcifiｃriｓｋ25．Whｉcｈoｆtheｆolloｗｉnｇstateｍentsｃonｃerniｎgｔheinｃｏmｅｓｔatｅmeｎtiｓｎｏttｒｕe?A.Ｉtmｅasuresｐerformａnceoverａspecificperiodoftime.Ｂ．Itdeteｒminesａftｅr-ｔaxiｎcomeofthefｉrm.C.Itinclｕdesｄefｅrredｔaxes.D.Itｄoesnotinｃluｄedepｒｅciatiｏn．Ｅ.ittreａt(yī)sｉntｅrｅstasanexpｅnse.2６．Wｈｉｃhｏfｔhefolｌoｗｉngｉsnotanoncashdeｄｕctｉoｎ?A.Depreciatiｏn．B.Dｅｆｅｒｒedtaxes.C.Intereｓt.Ｄ．TｗoofｔheａboveE.Alｌofｔheabｏｖe．27.SashaCｏｒｐｈadａnＲOＡｏf１０%.Sashａ’sｐrｏｆｉtmaｒgｉnwas６%onsalesof$18０.Whａt(yī)aｒetoｔａｌassets?（)Ａ.$300B．$108C.$4８．D$1６2.28.Ｃalｃulateneｔinｃomebasedonthefoｌｌowｉnginfｏrmａt(yī)ｉoｎ()Saleｓ＝＄200.０0Cosｔoｆgｏoｄｓsｏｌd＝$１0０.0０Dｅｐｒｅcｉａｔiｏn=$18.00Intｅresｔpaid＝$25.00Taxrate=3４％A．＄１６.５０B.$37.62C.$34．６０Ｄ.$4.60２9．Whichofthefolｌowingisnottruｅ?（)A.Ｆinanciaｌmarkｅtscaｎbeｕsedtoadｊustconｓumptiｏnpatｔeｒnsｏvertime．Ｂ.Corｐoｒatｅｉnvestmｅntｄecisionsｈavenｏtｈiｎgtｏdｏwｉｔhｆｉnanｃiａｌmarｋｅts,C.Fｉｎaｎcｉａlmarｋｅｔsdeａlwithｃａshflowsovｅｒtime.D．Inveｓtmenｔdecｉsiｏnsrｅlyontheeｃonomicpｒinｃiplｅｓoｆfｉnanciaｌmarkets.E．Nｏneoｆtheabovｅ.30.()isｃoｎcｅrneｄwithｔheacquiｓiｔioｎ,ｆinanciｎｇ,anｄｍａnagｅｍenｔofasseｔswｉｔhsｏmeｏverallgｏalｉｎｍinｄ.A.ＦiｎancialmaｎagemｅntB．ProfitmａｘｉmiｚatiｏｎＣ.ＡgｅｎｃｙｔheoryD.Sｏcialrｅsponｓｉｂilｉty31．Amａjｏrdisadvantaｇeoftheｃorporａt(yī)ｅformoforganｉzationisthe().Ａ.dｏubleｔaｘａt(yī)ionofdivｉdendsB.ｉｎabiｌityｏｆthefｉrｍｔoraiseｌaｒgesumｓofaｄｄitiｏnalｃapitａlC.limiteｄlｉabilitｙoｆshareholｄｅrｓＤ.limitedlifeoftｈeｃorpoｒａｔeｆorm.32.Iｎteresｔpａｉｄ(earned)onbothｔheｏｒiｇｉｎalpｒincipalbｏrrowed(ｌeｎt)andpｒｅvｉoｕsinｔerestｅarnedisoｆtｅnreferｒeｄｔｏas(）.Ａ.preｓｅntvａlueＢ.simpleinterestC.ｆuturevaluｅD.cｏmｐoundinteresｔ33.Ifｔheiｎtrｉnsicvalｕｅofasｈarｅofcoｍmｏnｓtoｃkiｓlessｔｈａnｉtsｍarketvaｌue,ｗhichoｆtｈefollowｉｎgiｓｔhｅｍoｓtreasoｎａblｅconclusｉoｎ?（)A.Thesｔockhasaｌowleveｌofｒiｓk．B.Thｅstockoffeｒｓahiｇｈdiｖｉdendpａyｏｕtratiｏ.C．Thｅｍarketisunderｖalｕinｇtheｓtock.D．Tｈｅmarketisovervaｌｕｉngthestocｋ.3４．A２５0facｅｖａｌｕeｓhａreofpreferredｓtoｃk,ｐayｓa2０aｎｎuａlｄiｖidendaｎdiｎｖeｓtorsreｑuiｒea7％ｒeturnｏnthiｓｉnvestment．Ifthesecurｉtyｉscurrentlysellinｇfｏr276,ｗhａt(yī)ｉｓtｈeｄiffｅrenｃe(oｖeｒvaluation）bｅｔweenｉtsintｒinsicaｎｄｍａｒkｅｔｖalue(ｒounｄedtothenearｅstｗholeｄollａr)?A.ａpｐroxiｍａｔely26B.ａpproxiｍaｔely10Ｃ.approximately6D.ａｐproximａｔelｙ135.FeｌtonＦarmＳｕppliｅｓ,Iｎc.,hasａｎ８percｅntreturnoｎtotalasｓetsｏf48０，000aｎdａnｅｔproｆitmargｉｎof6pｅrcｅnt.Ｗhａt(yī)ａreitsｓaleｓ？()A.3,7５0,000B．６４0,000C．４80，000D.1,500,000３６.Aｃompanｙcanimprove(lｏwer)itsdｅｂt-ｔo-toｔａlassetｒatioｂydｏingwhｉｃｈｏfthefollｏｗｉng？A．Borrｏwmore.B.Sｈiftｓhorｔ－tｅrmｔｏlong-tｅrｍdｅbｔ.C.Shｉftｌｏｎg-ｔｅrmtｏshort－termdｅbｔ．D.isｓuecommｏnｓｔｏｃk．３7.ＴｈeＤuＰontApproachbｒeaksdowntｈeeａrninｇｐｏwerｏnshａrｅholｄers'boｏｋvalｕe(ROE)ａsｆollｏws：ROＥ＝().A.Ｎetprofiｔmargin×Tｏtalassetｔurnover×ＥｑuitymultｉｐliｅrB．Totａlasｓettｕrnoｖeｒ×Gｒoｓsprofiｔｍargin×ＤebｔrａｔiｏC．Totalasｓeｔtuｒnoveｒ×NetpｒofｉtｍarginD.Tｏtalａssetturnover×Ｇrｏsspｒofitmargin×Ｅｑｕitymｕltiplｉｅr38．Whicｈoｆｔｈefollowｉngiｔeｍｓcoｎcernｓfinancingdecision?（）A.ｓaleｓforecａstinｇB.bondｉsｓuingC.receivablescolleｃｔionD．investmentpｒojecｔselｅcｔiｏｎ39.Whiｃhofthｅfollowｉngitｅmｓiｓtｈefuncｔionofatｒeasurer？（)Ａ.ｃoｓtaｃcounｔiｎgB.inteｒｎalcｏntｒolC.ｃapiｔaｌｂudgeｔingD.generａｌledger40．Fｏrｆｉｎaｎｃｉalｉnstrumeｎts,()iｓjuｄgedｉnrｅlaｔioｎtothｅaｂiｌitytｏsｅｌｌasignｉficantvolｕｍeofsecuritiesｉｎashorｔperｉｏdoftiｍewithoｕtsignificaｎｔpricecｏnｃeｓsiｏn.A.maturiｔyＢ.mａｒｋetabilityC.ｄｅfauｌtＤ．inｆlaｔiｏnParｔIＩ：CalculatioｎQuｅstions（１0ｘ2ｐｏints)（注意：要寫出計算公式和計算過程,否則不得分;需要用文字描述旳問題回答內容要詳細，語句對旳、完整。)1、ThｅmoｓtｒecentfｉnaｎｃｉalｓｔaｔementsｆｏｒcompanｙCCCａreshownhｅre（$):ＩncomeSｔａt(yī)ementBalanceＳheetSalｅs10,400Cuｒrｅntassets1１,０0０Curｒentｌｉabｉlｉtｉｅs10，000Ｃosts６,820Loｎg-tｅrmdeｂt12,000TaｘａbleIｎcｏｍe3,５80Fｉｘｅdassetｓ27,０00Equity16，00０Taxeｓ1,2５３Tｏtal3８,000Totａl38,０0０Netincome２，3２7Cｏmpｕtetheｆolｌowingｒaｔｉoｓ:Ｃuｒreｎｔratio:ＴotａldebtratｉｏTotalaｓｓeｔturnｏverPrｏfitmａｒginＥquｉtｙmultipliｅrＲOARＯＥUsingDuPoｎtIdenｔityｔocomputｅthｅROE2.AＭicｒogatｓＩnｄustｒｉｅsboｎdhasａ1０%couponｒａt(yī)eaｎｄａ$１，000facevａlue．Couponｓaｒepａidｓemiannuａlｌy,ａndthｅbonｄhas20yｅarstomatｕriｔy.Ifinveｓtorrequireda1２%ｙield,wｈａt(yī)’stｈebonｄ’sｖａｌｕe?(P/A,6%,４０）=15.04６３(P/F,6％，40)=０.09７2(Ｐ／A，12％,20)＝7．469４(P/F，12％,20)=0.1037PartIＩITｒａnsｌａt(yī)ion（將下面旳topiｃ由英文翻譯成中文或者由中文翻譯成英文,5x4＝2０pｏints）Topｉc1ＩntｒｏｄuctioｎtｏFinancialManageｍentFinanciaｌmanagｅmentisaｎiｎtｅｇrateddecisioｎ-maｋinｇproｃesｓcｏncｅrｎedwithａcquｉring,ｆinanciｎｇ，andmａnagiｎｇａｓseｔｓtｏaｃcoｍplishｓomeoveｒaｌlgｏalwithinａbusinｅｓsentity．Oｔherｎamesfｏrｆiｎancialmanagementｉncluｄemanagerｉalｆinanｃｅ,corporatefｉnance,ａｎdbusinｅｓｓ