财务管理英文笔试题

1、共享知识分享快乐笔试题考试题型：一、从下列选项中选出最佳答案(40x1.5=60 分)二、计算题（ 10x2=20 分）三、段落中英互译（ 5x4=20 分）Part IChoice questions40x1.5=60 points)(Please writeyouranswer in thefollowing table)1. Financial statement does not include ()A. balance sheetB. income statementC. cash flow statementD. working sheet2. An increase in whi

2、ch one of the following will increase the operating cash flow?A.employee salariesB. office rentC. building maintenanceD. equipment depreciation3. The process of planning and managing a firm longs -term investments is called:A.working capital management.B. financial depreciation.C. capital budgeting.

3、D. capital structure.4. Cash equivalents include ()A. time depositsB. inventoriesC. accounts receivableD. prepaid expenses5. The internal rate of return for a project will increase if:A. the initial cost of the project can be reduced.B. the total amount of the cashinflows is reduced.C. the required

4、rate of return is reduced.D. the salvage value of the project isomitted from the analysis.6. Which of the following belongs to current liabilities?()A. mortgages payableB. prepaid expensesC. notes payableD. bonds payable7. You spent $500 last week fixing the transmission in your car. Now, the brakes

5、are acting up and you are trying to decide whether to fix them or trade the car infor a newer model. In analyzing the brake situation, the $500 you spent fixing thetransmission is a(n) _ cost.A. opportunityB. sunkC. incrementalD. fixedAAAAAAAA共享知识分享快乐8. Which of the following statements are correct

6、concerning diversifiable risks?I. Diversifiable risks can be essentially eliminated by investing in several securities.II. The market rewards investors for diversifiable risk by paying a risk premium.III. Diversifiable risks are generally associated with an individual firm or industry.IV. Beta measu

7、res diversifiable risk.A. I and III onlyB. II and IV onlyC. I and IV onlyD. II and III only9. Which of the following is a liability account?（）A. prepaid insuranceB. additional paid-in capitalC. salaries payableD. accumulated depreciation10. Accountants employed by large corporations may work in the

8、areas of the following except ( )A. product costing and pricingB. budgetingC. internal auditingD. product producing11. A corporatio n s first sale of equity made available to the public is called a(n):（）A. share repurchase program.B. private placement.C. initial public offering (IPO).D.seasoned equi

9、ty offering (SEO).12. Standard deviation measures _ risk.A. totalB. nondiversifiableC. unsystematicD.systematic13. () is the value at some future time of a present amount of money, or a series ofpayments, evaluated at a given interest rate.A. future valueB. present valueC. intrinsic valueD. market v

10、alue14. Ellesmere Corporation issues 1 million $1 par value bonds. The stated interest rate is 8% per year and the interest is paid twice a year. What is the real interest rate of the bond? ()A. 6%B.4%C. 10%D. (1+8%/2)2-115. Your firm purchased a warehouse for $335,000 six years ago. Four years ago,

11、 repairs were made to the building which cost $60,000. The annual taxes on theproperty are $20,000. The warehouse has a current book value of $268,000 and a market value of $295,000. The warehouse is totally paid for and solely owned by your firm. If the company decides to assign this warehouse to a

12、 new project, what value, if any, should be included in the initial cash flow of the project for this building? （）A. $268,000B. $295,000C. $395,000D. $515,000AAAAAAAA共享知识分享快乐16.Which one of the following will decrease the operating cycle?A. paying accounts payable fasterB. discontinuing the discount

13、 given for early payment of an accounts receivableC. decreasing the inventory turnover rateD. collecting accounts receivable faster17. Assume that dividendsof a common stock willbe maintained at D forever,and the required return of the stockholder is r, the par value of the stock is m,the value of t

14、he stock is ()A. mB. m+DC. m+D/rD. D/r18. Which of the following items has the most risk? ()A. treasury billB. corporate bond C. preferred stockD. common stock19. () equals the gross profit divided by net sales of a firm.A. gross profitmargin B. net profit marginC. return on investment D.return on e

15、quity20. () isthe ratiosthat measure a firm sabilityto meet short -termobligationsA. liquidity ratiosB. leverage ratios C. coverage ratiosD. activity ratios21.Sensitivity analysis helps you determine the:A. range of possible outcomes given possible ranges for every variable.B. degree to which the ne

16、t present value reacts to changes in a single variable.C. net present value given the best and the worst possible situations.D. degree to which a project is reliant upon the fixed costs.22. According GAAP revenue is recognized as income when: （）A. a contract is signed to perform a service or deliver

17、 a good.B. the transaction is complete and the goods or services delivered.C. payment is received.D. income taxes are paid.E. all of the above.23. () is the resultof Net ProfitMargin totalasset turnover (totalassets/shareholders equity)A. Return on equityB. return on investmentC. current ratioD. qui

18、ck ratio24. Government tax law adjustment is () to a firm.A. general economic riskB. inflation and deflation riskC. firm-specific risk25.Which of the followingstatements concerning the income statement is nottrue?AAAAAAAA共享知识分享快乐A. It measures performance over a specific period of time.B. It determi

19、nes after-tax income of the firm.C. It includes deferred taxes.D. It does not include depreciation.E. it treats interest as an expense.26.Which of the following is not a noncash deduction?A. Depreciation. B. Deferred taxes. C. Interest. D. Two of the above E. All of the above.27.Sasha Corp had an RO

20、A of 10%. Sasha s profit margin was 6% on sales of $180. What are total assets? （）A.$300B.$108C.$48.D$162.28. Calculate net income based on the following information ()Sales = $200.00Cost of goods sold = $100.00Depreciation = $18.00Interest paid = $25.00Tax rate = 34%A. $16.50B. $37.62C. $34.60D. $4

21、.6029.Which of the following is not true?（）A. Financial markets can be used to adjust consumption patterns over time.B. Corporate investment decisions have nothing to do with financial markets,C. Financial markets deal with cash flows over time.D. Investment decisions rely on the economic principles

22、 of financial markets.E. None of the above.30. () is concerned with the acquisition, financing, and management of assetswith some overall goal in mind.A. FinancialmanagementB. Profit maximizationC. Agency theoryD.Social responsibility31. A major disadvantage of the corporate form of organization is

23、the ().A. double taxation of dividendsB. inability ofthe firm toraise largesums ofadditional capitalC. limited liability of shareholdersD. limited life of the corporate form.32. Interest paid (earned) on boththe originalprincipalborrowed (lent)andprevious interest earned is often referred to as ().A

24、. present value B. simple interestC. future valueD. compound interestAAAAAAAA共享知识分享快乐33. If the intrinsic value of a share of common stock is less than its market value, which of the following is the most reasonable conclusion? ()A. The stock has a low level of risk.B. The stock offers a high divide

25、nd payout ratio. C. The market is undervaluing the stock.D. The market is overvaluing the stock.34. A 250 face value share of preferred stock, pays a 20 annual dividend and investors require a 7% return on this investment. If the security is currentlyselling for276, whatis the difference(overvaluati

26、on)between its intrinsicandmarket value (rounded to the nearest whole dollar)?A.approximately26B. approximately 10C.approximately 6D.approximately 135.Felton Farm Supplies, Inc., has an 8 percent return on total assets of 480,000and a net profit margin of 6percent. What are its sales?()A. 3,750,000

27、B.640,000C. 480,000 D. 1,500,00036.A company can improve (lower) its debt-to-total asset ratio by doing which ofthe following?A. Borrowmore.B. Shift short-term to long-termdebt.C. Shift long-term to short-term debt.D. issue common stock.37.The DuPont Approach breaks down the earning power on shareho

28、lders bookvalue (ROE) as follows: ROE = ().A. Net profit marginTotalasset turnoverEquitymultiplierB. Total asset turnoverGross profit marginDebtratioC. Total asset turnoverNet profit marginD. Total asset turnoverGross profit marginEquity multiplier38.Which of the following items concerns financing d

29、ecision? ()A. sales forecastingB. bond issuingC. receivables collection D. investmentproject selection39.Which of the following items is the function of a treasurer? ()A. cost accountingB. internal controlC. capital budgetingD. general ledger40.For financial instruments, () isjudged in relation to t

30、he ability to sell asignificant volume of securities in a short period of time without significant priceconcession.A. maturityB. marketabilityC. defaultD. inflationAAAAAAAA共享知识分享快乐Part II: Calculation Questions ( 10x2 points)（注意：要写出计算公式和计算过程，否则不得分；需要用文字描述的问题回答内容要详细，语句正确、完整。 ）1、The most recent financ

31、ial statements for company CCC are shown here ($):Income StatementBalance SheetSales10,400Current11,000Current liabilities10,000assetsCosts6,820Long-term debt12,000Taxable3,580Fixed assets27,000Equity16,000IncomeTaxes1,253Total38,000Total38,000Net income2,3271）Compute the following ratios:Current ra

32、tio:Total debt ratioTotal asset turnoverProfit marginEquity multiplierROAROE2）Using Du Pont Identity to compute the ROE2. A Microgats Industries bond has a 10% coupon rate and a $1,000 face value. Coupons are paid semiannually, and the bond has 20 years to maturity. If investorrequired a 12% yield,

33、what s the bond s value?(P/A, 6%, 40)=15.0463(P/F, 6%,40)= 0.0972(P/A, 12%, 20)=7.4694(P/F, 12%,20)= 0.1037AAAAAAAA共享知识分享快乐Part III Translation ( 将下面的 topic 由英文翻译成中文或者由中文翻译成英文， 5x4=20points )Topic 1 Introduction to Financial ManagementFinancial management is an integrated decision-making process con

34、cerned with acquiring, financing, and managing assets to accomplish some overall goal within a business entity. Other names for financial management include managerial finance, corporate finance, and business finance. Making financial decisions is an integral part of all forms and sizes of business organizations from small privately-held fi