财务管理基础英文版选择题.docx

财务管理基础英文版选择题.docx

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财务管理基础英文版选择题

第一章

1CORRECT

Whichofthefollowingaremicroeconomicvariablesthathelpdefineandexplainthedisciplineoffinance?

D

A）riskandreturn

B）capitalstructure

C）inflation

D）alloftheabove

Feedback:

Alloftheabovearerelevantinexplainingfinance.

2CORRECT

Oneprimarymacroeconomicvariablethathelpsdefineandexplainthedisciplineoffinance?

C

A）capitalstructure

B）inflation

C）technology

D）risk

Feedback:

Technologyisveryimportantinexplainingthefieldoffinance.

3CORRECT

Themoneymarketsdealwith_________.B

A）securitieswithalifeofmorethanoneyear

B）short-termsecurities

C）securitiessuchascommonstock

D）noneoftheabove

Feedback:

Themoneymarketsareconcernedwithshort-termsecurities,thosewithalifelessthanoneyear.

4CORRECT

Theabilityofafirmtoconvertanassettocashiscalled___A_________.

A）liquidity

B）solvency

C）return

D）marketability

Feedback:

Liquidityalsomeanshowcloseanassetistocash.

5CORRECT

Earlyinthehistoryoffinance,animportantissuewas:

A

A）liquidity

B）technology

C）capitalstructure

D）financingoptions

Feedback:

Maintainingliquiditywasamajorconcernhistorically.

6INCORRECT

The__________C_________isthemostcommonformofbusinessorganizationintheU.S.

A）corporation

B）partnership

C）soleproprietorship

D）noneoftheabove

Feedback:

Therearemoresoleproprietorshipsthananyotherformofbusinessorganization.

7CORRECT

The_________C___________hasmoresalesindollarsthananyotherformofbusinessorganization.

A）soleproprietorship

B）partnership

C）corporation

D）noneoftheabove

Feedback:

Thecorporationisthemostimportantintermsofdollars.

8CORRECT

Onemajordisadvantageofthesoleproprietorshipis_____B___________.

A）simplicityofdecision-making

B）unlimitedliability

C）lowoperationalcosts

D）noneoftheabove

Feedback:

Theownersofasoleproprietorshiparepersonallyliable.

9CORRECT

Theappropriatefirmgoalinacapitalistsocietyis______B__________.

A）profitmaximization

B）shareholderwealthmaximization

C）socialresponsibility

D）noneoftheabove

Feedback:

Thegoalistomaximizethewealthofshareholders.

10CORRECT

Theagencyproblemwilloccurinabusinessfirmifthegoalsof______C______andshareholdersdonotagree.

A）investors

B）thepublic

C）management

D）noneoftheabove

第二章

Feedback:

Thegoalsofmanagementmaybedifferentfromthoseofshareholders.

Theaccountingstatementsthatafirmisrequiredtofileincludeallbutoneofthese.B

A）BalanceSheet

B）StatementofAccountsReceivable

C）IncomeStatement

D）StatementofCashFlows

Feedback:

Therequiredstatementsincludetheincomestatement,balancesheetandstatementofchangesincashflows.Thestatementofchangesinownersequity（orretainedearnings）isalsorequiredbyGenerallyAcceptedAccountingPrinciplesbutisnotcoveredinthistext.

2CORRECT

The_______A________showsthefirm'soperatingresultsoveraperiodoftime.

A）IncomeStatement

B）StatementofCashFlows

C）BalanceSheet

D）Noneoftheabove

Feedback:

TheIncomeStatementrepresentsamovingpictureofafirm'srevenuesandexpenses.

3CORRECT

Allofthefollowingexceptonearetax-deductibleexpenses.C

A）interestexpense

B）depreciation

C）commonstockdividends

D）incometaxes

Feedback:

Commonstockdividendsarenottaxdeductibletoafirm.

4CORRECT

Allofthefollowingarenon-operatingexpensesexcept______B_______.

A）interestexpense

B）costofgoodssold

C）preferredstockdividends

D）taxes

Feedback:

Thecostofgoodssoldisanoperatingexpense.

5CORRECT

Bondholdersreceive_____C________fromthebusinessfirm.

A）preferreddividendpayments

B）commonstockpayments

C）interestpayments

D）royalties

Feedback:

Bondholdersaretypicallypaidinterestsemi-annually.

6CORRECT

Theratioofnetincometocommonsharesoutstandingiscalled_____B_________.

A）price/earningsratio

B）earningspershare

C）dividendspershare

D）noneoftheabove

Feedback:

Thisiscalledtheearningspershare（EPS）.

7CORRECT

Usually,firmswithhighprice/earningsratiosare_____A_______firms.

A）growth

B）declining

C）mature

D）noneoftheabove

Feedback:

Ahighp/eratioindicatesafirmwithstronggrowthprospects

8CORRECT

Oneofthelimitationsofthe_____C_______isthatitisbasedonhistoricalcosts.

A）incomestatement

B）statementofcashflows

C）balancesheet

D）noneoftheabove

Feedback:

Thebalancesheetuseshistoricalcosts.

9INCORRECT

Asourceoffundsisa:

D

A）decreaseinacurrentasset

B）decreaseinacurrentliability

C）increaseinacurrentliability

D）aandcabove

Feedback:

Adecreaseincurrentassetsisequivalenttoanincreaseincurrentliabilities.

10INCORRECT

Short-termfinancingforabusinessfirmincludes:

B

A）bonds

B）accountspayable

C）stockholder'sequity

D）mortgages

Feedback:

Theotherthreeanswersrepresentlong-termfinancing.

第三章

Trendanalysisallowsafirmtocompareitsperformanceto:

D

A）otherfirmsintheindustry

B）othertimeperiodswithinthefirm

C）otherindustries

D）alloftheabove

Feedback:

Trendanalysisgivesananalystalong-termperspective.AsasecurityanalystandaportfoliomanagerwithOppenheimerCapital,DickGlasebrookspoketoaSeniorFinanceManagers’MeetingattheBoeingCompanyonMay4,1999.Hesaiditisonethingtocompareafirm’sperformanceagainstcompetitorswithinthesameindustry.Butinvestorsarenotlimitedtospecificindustries.Infact,investorsseektodiversifytheirinvestmentsacrossmanydifferentindustries.Somanagementshouldalsocompareperformancetoanywellruncompany--bothinandoutsideoftheirindustry.

2

Ratioanalysisallowsafirmtocompareitsperformanceto:

D

A）otherfirmsintheindustry

B）othertimeperiodswithinthefirm

C）otherindustries

D）alloftheabove

Feedback:

Trendanalysisgivesananalystalong-termperspective.AsasecurityanalystandaportfoliomanagerwithOppenheimerCapital,DickGlasebrookspoketoaSeniorFinanceManagers’MeetingattheBoeingCompanyonMay4,1999.Hesaiditisonethingtocompareafirm’sperformanceagainstcompetitorswithinthesameindustry.Butinvestorsarenotlimitedtospecificindustries.Infact,investorsseektodiversifytheirinvestmentsacrossmanydifferentindustries.Somanagementshouldalsocompareperformancetoanywellruncompany--bothinandoutsideoftheirindustry.

3

Usually,afirm'ssuppliersaremostinterestedinits___D_____ratios.

A）profitability

B）debt

C）assetutilization

D）liquidity

Feedback:

Thesuppliersaremostinterestedingettingpaid,asshownbytheliquidityofthefirm.

4CORRECT

__________D_____wouldbemostinterestedinafirm'sdebtutilizationratios.

A）bondholders

B）stockholders

C）short-termcreditors

D）BothAandB

Feedback:

Debtisindicatedbyafirmissuingbondsbutisalsoafunctionofthedebttoequityrelationshiporthedegreeoffinancialleverage.Bothbondholdersandstockholdersareinterestedinthisrelationshipalthoughfrofopposingviewpoints.

5CORRECT

The_______C______ratioindicatesthereturnfirmshareholdersareearning.

A）returnonassets

B）returnoninvestment

C）returnonequity

D）netprofitmargin

Feedback:

Theshareholdersrepresentequity,orownershipinthefirm.

6CORRECT

Whichofthefollowingisanexampleofaprofitabilityratio?

C

A）Quickratio

B）Averagecollectionperiod

C）Returnonequity

D）Timesinterestearned

Feedback:

Thisistheonlyprofitabilityratiothatislisted.Allprofitabilityratioshavenetincomeinthedenominator.

7

Totalassetturnoverwillindicateifthereisaproblemwiththe___C______ratio.

A）debttoassets

B）timesinterestearned

C）fixedassetturnover

D）current

Feedback:

Fixedassetturnoverispartoftotalassetturnover.

8CORRECT

Allofthefollowingareassetutilizationratiosexcept:

D

A）averagecollectionperiod

B）inventoryturnover

C）receivablesturnover

D）returnonassets

Feedback:

Returnonassetsisaprofitabilityratio.Anyratiowithnetincomeinthedenominatorisaprofitabilityratio.

9CORRECT

Ifafirm'sdebtratiois55%,thismeans____C__ofthefirm'sassetsarefinancedbyequityfinancing.

A）55%

B）50%

C）45%

D）notenoughinformationtoanswerquestion

Feedback:

Theequityportionplusthedebtportionmustaddupto100%.

10CORRECT

Allofthefollowingcanpresentproblemsforratioanalysisexcept:

D

A）inflation

B）inventoryaccountingmethods

C）disinflation

D）alloftheabove

Feedback:

Theseallmaycauseproblems.

第四章

Planningforfuturegrowthiscalled:

C

A）capitalbudgeting

B）workingcapitalmanagement

C）financialforecasting

D）noneoftheabove

Feedback:

Thisinvolveslookingaheadtothefuture.

2INCORRECT

WhichoneofthefollowingisNOTatooloffinancialforecasting?

B

A）cashbudget

B）capitalbudget

C）proformabalancesheet

D）proformaincomestatement

Feedback:

Theotherthreearealltoolsusedbyananalyst.

3CORRECT

Thefirststepindevelopingaproformaincomestatementisto:

A

A）bu