财务管理 chapter3 习题复习进程.docx
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财务管理 chapter3 习题复习进程.docx
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财务管理chapter3习题复习进程
Chapter03FinancialStatementsAnalysisandLong-TermPlanningAnswerKey
MultipleChoiceQuestions
1. Onekeyreasonalong-termfinancialplanisdevelopedisbecause:
A. theplandeterminesyourfinancialpolicy.
B. theplandeterminesyourinvestmentpolicy.
C. therearedirectconnectionsbetweenachievablecorporategrowthandthefinancialpolicy.
D. thereisunlimitedgrowthpossibleinawell-developedfinancialplan.
E. Noneoftheabove.
Difficultylevel:
Easy
Topic:
LONG-TERMPLANNING
Type:
DEFINITIONS
c
2. Projectedfuturefinancialstatementsarecalled:
A. plugstatements.
B. proformastatements.
C. reconciledstatements.
D. aggregatedstatements.
E. noneoftheabove.
Difficultylevel:
Easy
Topic:
PROFORMASTATEMENTS
Type:
DEFINITIONS
B
3. Thepercentageofsalesmethod:
A. requiresthatallaccountsgrowatthesamerate.
B. separatesaccountsthatvarywithsalesandthosethatdonotvarywithsales.
C. allowstheanalysttocalculatehowmuchfinancingthefirmwillneedtosupportthepredictedsaleslevel.
D. BothAandB.
E. BothBandC.
Difficultylevel:
Medium
Topic:
PERCENTAGEOFSALES
Type:
DEFINITIONS
E
4. A_____standardizesitemsontheincomestatementandbalancesheetasapercentageoftotalsalesandtotalassets,respectively.
A. taxreconciliationstatement
B. statementofstandardization
C. statementofcashflows
D. common-baseyearstatement
E. common-sizestatement
Difficultylevel:
Easy
Topic:
COMMON-SIZESTATEMENTS
Type:
DEFINITIONS
E
5. Relationshipsdeterminedfromafirm'sfinancialinformationandusedforcomparisonpurposesareknownas:
A. financialratios.
B. comparisonstatements.
C. dimensionalanalysis.
D. scenarioanalysis.
E. solvencyanalysis.
A
Difficultylevel:
Easy
Topic:
FINANCIALRATIOS
Type:
DEFINITIONS
6. Financialratiosthatmeasureafirm'sabilitytopayitsbillsovertheshortrunwithoutunduestressareknownas_____ratios.
A. assetmanagement
B. long-termsolvency
C. short-termsolvency
D. profitability
E. marketvalue
Difficultylevel:
Easy
Topic:
SHORT-TERMSOLVENCYRATIOS
Type:
DEFINITIONS
C
7. Thecurrentratioismeasuredas:
A. currentassetsminuscurrentliabilities.
B. currentassetsdividedbycurrentliabilities.
C. currentliabilitiesminusinventory,dividedbycurrentassets.
D. cashonhanddividedbycurrentliabilities.
E. currentliabilitiesdividedbycurrentassets.
Difficultylevel:
Easy
Topic:
CURRENTRATIO
Type:
DEFINITIONS
B
8. Thequickratioismeasuredas:
A. currentassetsdividedbycurrentliabilities.
B. cashonhandpluscurrentliabilities,dividedbycurrentassets.
C. currentliabilitiesdividedbycurrentassets,plusinventory.
D. currentassetsminusinventory,dividedbycurrentliabilities.
E. currentassetsminusinventoryminuscurrentliabilities.
Difficultylevel:
Easy
Topic:
QUICKRATIO
Type:
DEFINITIONS
D
9. Thecashratioismeasuredas:
A. currentassetsdividedbycurrentliabilities.
B. currentassetsminuscashonhand,dividedbycurrentliabilities.
C. currentliabilitiespluscurrentassets,dividedbycashonhand.
D. cashonhandplusinventory,dividedbycurrentliabilities.
E. cashonhanddividedbycurrentliabilities.
Difficultylevel:
Medium
Topic:
CASHRATIO
Type:
DEFINITIONS
E
10. Ratiosthatmeasureafirm'sfinancialleverageareknownas_____ratios.
A. assetmanagement
B. long-termsolvency
C. short-termsolvency
D. profitability
E. marketvalue
Difficultylevel:
Easy
Topic:
LONG-TERMSOLVENCYRATIOS
Type:
DEFINITIONS
B
11. Thefinancialratiomeasuredastotalassetsminustotalequity,dividedbytotalassets,isthe:
A. totaldebtratio.
B. equitymultiplier.
C. debt-equityratio.
D. currentratio.
E. timesinterestearnedratio.
Difficultylevel:
Easy
Topic:
TOTALDEBTRATIO
Type:
DEFINITIONS
A
12. Thedebt-equityratioismeasuredastotal:
A. equityminustotaldebt.
B. equitydividedbytotaldebt.
C. debtdividedbytotalequity.
D. debtplustotalequity.
E. debtminustotalassets,dividedbytotalequity.
Difficultylevel:
Easy
Topic:
DEBT-EQUITYRATIO
Type:
DEFINITIONS
C
13. Theequitymultiplierratioismeasuredastotal:
A. equitydividedbytotalassets.
B. equityplustotaldebt.
C. assetsminustotalequity,dividedbytotalassets.
D. assetsplustotalequity,dividedbytotaldebt.
E. assetsdividedbytotalequity.
Difficultylevel:
Medium
Topic:
EQUITYMULTIPLIER
Type:
DEFINITIONS
14. Thefinancialratiomeasuredasearningsbeforeinterestandtaxes,dividedbyinterestexpenseisthe:
A. cashcoverageratio.
B. debt-equityratio.
C. timesinterestearnedratio.
D. grossmargin.
E. totaldebtratio.
Difficultylevel:
Medium
Topic:
TIMESINTERESTEARNEDRATIO
Type:
DEFINITIONS
15. Thefinancialratiomeasuredasearningsbeforeinterestandtaxes,plusdepreciation,dividedbyinterestexpense,isthe:
A. cashcoverageratio.
B. debt-equityratio.
C. timesinterestearnedratio.
D. grossmargin.
E. totaldebtratio.
Difficultylevel:
Medium
Topic:
CASHCOVERAGERATIO
Type:
DEFINITIONS
16. Ratiosthatmeasurehowefficientlyafirmusesitsassetstogeneratesalesareknownas_____ratios.
A. assetmanagement
B. long-termsolvency
C. short-termsolvency
D. profitability
E. marketvalue
Difficultylevel:
Easy
Topic:
ASSETMANAGEMENTRATIOS
Type:
DEFINITIONS
17. Theinventoryturnoverratioismeasuredas:
A. totalsalesminusinventory.
B. inventorytimestotalsales.
C. costofgoodssolddividedbyinventory.
D. inventorytimescostofgoodssold.
E. inventorypluscostofgoodssold.
Difficultylevel:
Medium
Topic:
INVENTORYTURNOVER
Type:
DEFINITIONS
18. Thefinancialratiodays'salesininventoryismeasuredas:
A. inventoryturnoverplus365days.
B. inventorytimes365days.
C. inventorypluscostofgoodssold,dividedby365days.
D. 365daysdividedbytheinventory.
E. 365daysdividedbytheinventoryturnover.
Difficultylevel:
Medium
Topic:
DAYS'SALESININVENTORY
Type:
DEFINITIONS
19. Thereceivablesturnoverratioismeasuredas:
A. salesplusaccountsreceivable.
B. salesdividedbyaccountsreceivable.
C. salesminusaccountsreceivable,dividedbysales.
D. accountsreceivabletimessales.
E. accountsreceivabledividedbysales.
Difficultylevel:
Medium
Topic:
RECEIVABLESTURNOVER
Type:
DEFINITIONS
20. Thefinancialratiodays'salesinreceivablesismeasuredas:
A. receivablesturnoverplus365days.
B. accountsreceivabletimes365days.
C. accountsreceivableplussales,dividedby365days.
D. 365daysdividedbythereceivablesturnover.
E. 365daysdividedbytheaccountsreceivable.
Difficultylevel:
Medium
Topic:
DAYS'SALESINRECEIVABLES
Type:
DEFINITIONS
21. Thetotalassetturnoverratioismeasuredas:
A. salesminustotalassets.
B. salesdividedbytotalassets.
C. salestimestotalassets.
D. totalassetsdividedbysales.
E. totalassetsplussales.
Difficultylevel:
Easy
Topic:
TOTALASSETTURNOVER
Type:
DEFINITIONS
22. Ratiosthatmeasurehowefficientlyafirm'smanagementusesitsassetsandequitytogeneratebottomlinenetincomeareknownas_____ratios.
A. assetmanagement
B. long-termsolvency
C. short-termsolvency
D. profitability
E. marketvalue
Difficultylevel:
Easy
Topic:
PROFITABILITYRATIOS
Type:
DEFINITIONS
23. Thefinancialratiomeasuredasnetincomedividedbysalesisknownasthefirm's:
A. profitmargin.
B. returnonassets.
C. returnonequity.
D. assetturnover.
E. earningsbeforeinterestandtaxes.
Difficultylevel:
Easy
Topic:
PROFITMARGIN
Type:
DEFINITIONS
24. Thefinancialratiomeasuredasnetincomedividedbytotalassetsisknownasthefirm's:
A. profitmargin.
B. returnonassets.
C. returnonequity.
D. assetturnover.
E. earningsbeforeinterestandtaxes.
Difficultylevel:
Easy
Topic:
RETURNONASSETS
Type:
DEFINITIONS
25. Thefinancialratiomeasuredasnetincomedividedbytotalequityisknownasthefirm's:
A. profitmargin.
B. returnonassets.
C. returnonequity.
D. assetturnover.
E. earningsbeforeinterestandtaxes.
Difficultylevel:
Easy
Topic:
RETURNONEQUITY
Type:
DEFINITIONS
26. Thefinancialratiomeasuredasthepricepershareofstockdividedbyearningspershareisknownasthe:
A. returnonassets.
B. returnonequity.
C. debt-equityratio.
D. price-earningsratio.
E. DuPontidentity.
Difficultylevel:
Easy
Topic:
PRICE-EARNINGSRATIO
Type:
DEFINITIONS
27. Themarket-to-bookratioismeasuredas:
A. totalequitydividedbytotalassets.
B. netincometimesmarketpricepershareofstock.
C. netincomedividedbymarketpricepershareofstock.
D. marketpricepershareofstockdividedbyearningspershare.
E. marketvalueofequitypersharedividedbybookvalueofequitypershare.
Difficultylevel:
Medium
Topic:
MARKET-TO-BOOKRATIO
Type:
DEFINITIONS
28. The_____breaksdownreturnonequityintothreecomponentparts.
A. DuPontidentity
B. returnonassets
C. statementofcashflows
D. assetturnoverratio
E. equitymultiplier
Difficultylevel:
Medium
Topic:
DUPONTIDENTITY
Type:
DEFINITIONS
29. TheExternalFundsNeeded(EFN)equationdoesnotmeasurethe:
A. additionalassetrequirementsgivenachangeinsales.
B. additionaltotalliabilitiesraisedgiventhechangeinsales.
C. rateofreturntoshareholdersgiventhechangeinsales.
D. netincomeexpectedtobeearnedgiventhechangeinsales.
E. Noneoftheabove.
Difficultylevel:
Medium
Topic:
EXTERNALFUNDSNEEDED
Type:
DEFINITIONS
30. Tocalculatesustainablegrowthratewithoutusingreturnonequity,theanalystneedsthe:
A. profitmargin.
B. pa
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