财务管理知到智慧树章节测试课后答案2024年秋宁波工程学院

财务管理知到智慧树章节测试课后答案2024年秋宁波工程学院第一章单元测试

Whatshouldbetheprimarygoaloffinancialmanagement?（）

A:MinimizingriskofthefirmB:MaximizingshareholderwealthC:MaximizingcashflowD:Increasedearnings

答案:MaximizingshareholderwealthAgencytheoryexaminestherelationshipbetweenthe（）

A:shareholdersofthefirmandthefirm'sinvestmentbanker.B:boardofdirectorsandlargeinstitutionalinvestors.C:shareholdersandthefirm'stransferagent.D:ownersofthefirmandthemanagersofthefirm.

答案:ownersofthefirmandthemanagersofthefirm.Acorporationis（）

A:easilydivisiblebetweenowners.B:ownedbystockholderswhoenjoytheprivilegeoflimitedliability.C:aseparatelegalentitywithunlimitedlife.D:anentitywhichpayscorporatetax.

答案:easilydivisiblebetweenowners.；ownedbystockholderswhoenjoytheprivilegeoflimitedliability.；aseparatelegalentitywithunlimitedlife.；anentitywhichpayscorporatetax.Theemphasisoffinancialmanagementhasbeenontherelationshipbetweenriskandreturn.（）

A:对B:错

答案:对Profitsofsoleproprietorshipsaretaxedatcorporatetaxrates.（）

A:错B:对

答案:错

第二章单元测试

ElginBatteryManufacturershadsalesof$1,000,000in2015andtheircostofgoodssoldis$700,000.Sellingandadministrativeexpenseswere$100,000.Depreciationexpensewas$80,000andinterestexpensefortheyearwas$10,000.Thefirm'staxrateis30percent.Whatisthedollaramountoftaxespaidin2015?（）

A:$33,000B:$300,000C:$36,000D:$117,800

答案:$33,000Whichofthefollowingwouldnotbeclassifiedasacurrentasset?（）

A:MarketablesecuritiesB:PrepaidexpensesC:InventoryD:Plantpropertyandequipment

答案:PlantpropertyandequipmentWhichofthefollowingisaprimarysourceofraisingmoneyorcapitalforthefirm?（）

A:BondsB:CommonstockC:AssetsD:Preferredstock

答案:Bonds；Commonstock；PreferredstockTheincomestatementisthemajordeviceformeasuringtheprofitabilityofafirmoveraperiodoftime.（）

A:对B:错

答案:对Abalancesheetrepresentstheassets,liabilities,andowner'sequityofacompanyatagivenpointintime.（）

A:错B:对

答案:对

第三章单元测试

Afirmhasadebt-to-equityratioof40%,adebtof$250,000,andanetincomeof$100,000.Thereturnonequityis（）

A:There'snotenoughinformationtodeterminethereturnonequityB:60%.C:16%.D:30%.

答案:16%.Afirmhastotalassetsof$3,000,000andstockholdersequityis$1,000,000.Whatisthedebt-to-totalassetratio?（）

A:45%B:75%C:67%D:55%

答案:67%Whichofthefollowingisconsideredtobeaprofitabilityratio?（）

A:ReturnonequityB:Returnonassets(investment)C:TimesinterestearnedD:Profitmargin

答案:Returnonequity；Returnonassets(investment)；ProfitmarginProfitabilityratiosallowonetomeasuretheabilityofthefirmtoearnanadequateprofitcomparedtosales,totalassets,andinvestedcapital.（）

A:错B:对

答案:对Returnonequitywillbehigherthanreturnonassetsifthereishigheramountsofdebtinthecapitalstructure.（）

A:错B:对

答案:对

第四章单元测试

Ifafirmhasfixedcostsof$60,000,asalespriceof$7.00perunit,andabreak-evenpointof25,000units,thevariablecostperunitis（）.

A:$4.60B:$4.00C:$5.40D:$5.00

答案:$4.60Ifafirmhasthelowestpossibledegreeofoperatingleverageandthelowestpossibledegreeoffinancialleverage,then（）

A:DOLequals1,andDFLequals1.B:DOLequals1,andDFLequals0.C:NoneoftheoptionsD:DOLequals0,andDFLequals1.

答案:DOLequals1,andDFLequals1.Iffixedcostsrisewhileothervariablesstayconstant（）

A:None.B:thebreak-evenpointrises.C:totalprofitdeclines.D:thedegreeofoperatingleverageincreases.

答案:thebreak-evenpointrises.；totalprofitdeclines.；thedegreeofoperatingleverageincreases.Afirmwithahighdegreeoffinancialleveragecouldfacefinancialdifficultyeventhoughitisinastableindustry.（）

A:错B:对

答案:对Thelowerafirm’sbreak-evenpoint,theloweramountofquantityneedstobesoldinordertoreachaprofitofzero.（）

A:错B:对

答案:对

第五章单元测试

Whichofthefollowingisthemostliquidasset?（）

A:PrepaidexpensesB:InventoryC:CashequivalentsD:Accountsreceivable

答案:CashequivalentsWhichofthefollowingisnotavalidreasonforholdingcash?（）

A:Tomeettransactionrequirements.B:Toprovideacompensatingbalanceforabank.C:Tosatisfyemergencyneedsforfunds.D:Toearnthehighestreturnpossible.

答案:Toearnthehighestreturnpossible.Whichofthefollowingaretrue?（）

A:Highworkingcapitalisn’talwaysagoodthing.Itmightindicatethatthebusinesshastoomuchinventory,notinvestingitsexcesscash.B:Workingcapitalisameasureofacompany’sliquidity.C:Acompanyhasnegativeworkingcapitalifitsratioofcurrentassetstoliabilitiesislessthanone.D:Itisthedifferencebetweenacompany’scurrentassetandcurrentliability.

答案:Highworkingcapitalisn’talwaysagoodthing.Itmightindicatethatthebusinesshastoomuchinventory,notinvestingitsexcesscash.；Workingcapitalisameasureofacompany’sliquidity.；Acompanyhasnegativeworkingcapitalifitsratioofcurrentassetstoliabilitiesislessthanone.；Itisthedifferencebetweenacompany’scurrentassetandcurrentliability.Propermanagementofsales,receivables,payables,andinventoryformthebasisofcashflow.（）

A:对B:错

答案:对Formostfirms,theprimarymotiveforholdingcashisthetransactionmotive.（）

A:错B:对

答案:对

第六章单元测试

Inmanagingcashandmarketablesecurities,whatshouldbethemanager'sprimaryconcern?（）

A:AcceptablereturnoninvestmentB:MaximizationofprofitC:MaximizationofliquidassetsD:Liquidityandsafety

答案:LiquidityandsafetyWhichofthefollowingisgenerallyconsideredtobetheleastliquidofcurrentassets?（）

A:MarketablesecuritiesB:InventoryC:AccountsreceivableD:Cashequivalents

答案:InventorySomeoftheservicesprovidedaroundtheclockbySWIFTare（）

A:None.B:foreignexchange.C:tradefinancetransactions.D:internationalpaymentsbetweenbanks.

答案:foreignexchange.；tradefinancetransactions.；internationalpaymentsbetweenbanks.Formostfirms,theprimarymotiveforholdingcashisthetransactionmotive.（）

A:对B:错

答案:对Cashmanagementbecomesmoreimportantasthelevelofshort-terminterestratesrises.（）

A:对B:错

答案:对

第七章单元测试

Tradecreditisconsideredwhattypeofloan?（）

A:alloftheanswersaretrue.B:whenafirmowesmoneytoasupplier.C:whenafirmowesmoneytoacustomer.D:whenafirmowesmoneytoabank.

答案:whenafirmowesmoneytoasupplier.Hedgingrefersto（）

A:avoidinghigh-riskinvestmentopportunities.B:atransactionthatreducesriskexposure.C:thesamethingasassetdiversification.D:avoidingthefinancialfuturesmarket.

答案:atransactionthatreducesriskexposure.Bankloanstobusinessfirms（）

A:mayrequirecompensatingbalances.B:arepreferredbythebankertobeself-liquidating.C:areusuallyshort-terminnature.D:None.

答案:mayrequirecompensatingbalances.；arepreferredbythebankertobeself-liquidating.；areusuallyshort-terminnature.Companiestocanhedgingtoeliminateallorsomeforeigncurrencyrisk.（）

A:错B:对

答案:对Accountspayableisaspontaneoussourceoffundsthatusuallygrowsasthebusinessexpands.（）

A:对B:错

答案:对

第八章单元测试

PedroGonzalezwillinvest$5,000attheendofeachyear.Iftheinterestrateis8%,whatwillthevaluebeafterthreeyears?（）

A:$12,885B:$15,400C:$6,300D:$16,230

答案:$16,230Fishermen’sCorp.isconsideringpurchasingaboat.Iftheboatwaspurchased,itisexpectedtoreceive$20,000attheendofthefirstyear,$40,000attheendofthesecondyear,and$60,000attheendofthethirdyearwithinitsbusiness.WhatistheboatworthtoFishermen’sCorptoday,assumean8%discountrate.（）

A:$120,000B:$47,640C:$100,440D:$98,756

答案:$100,440Danwouldliketosave$1,500,000bythetimeheretiresin30yearsandbelieveshecanearnanannualreturnof8%.Howmuchdoesheneedtoinvestineachofthefollowingyearstoachievehisgoal?（）

A:$10,727B:$52,450C:$133,239D:$13,241

答案:$13,241Higherinterestratesreducethepresentvalueamount.（）

A:对B:错

答案:对Whentheinflationrateiszero,thepresentvalueof$1isidenticaltothefuturevalueof$1.（）

A:对B:错

答案:错

第九章单元测试

Therelationshipbetweenabond’ssalespriceandtheyieldtomaturity（）

A:isalinearrelationship.B:changesataconstantlevelforeachpercentagechangeofyieldtomaturityandisaninverserelationship.C:isaninverserelationship.D:changesataconstantlevelforeachpercentagechangeofyieldtomaturity.

答案:isaninverserelationship.A10-yearbondpays5%onafacevalueof$1,000.Ifsimilarbondsarecurrentlyyielding10%,whatisthemarketvalueofthebond?（）

A:$1,386.09B:$386.00C:$3,390.85D:$693.25

答案:$693.25Anissueofcommonstockisexpectedtopayadividendof$5.15attheendoftheyear.Itsgrowthrateisequalto6%.Iftherequiredrateofreturnis10%,whatisitscurrentprice?（）

A:NoneoftheseoptionsarecorrectB:$128.75C:$96.00D:$36.92

答案:$128.75Inestimatingthemarketvalueofabond,thecouponrateshouldbeusedasthediscountrate.（）

A:错B:对

答案:错Theappropriatediscountrateforvaluationofbondsiscalledtheyieldtomaturity.（）

A:对B:错

答案:对

第十章单元测试

Financialcapitaldoesnotinclude（）

A:workingcapital.B:preferredstocks.C:bonds.D:stocks.

答案:workingcapital.Forafirmpaying5%fornewdebt,thehigherthefirm'staxrate（）

A:Notenoughinformationtojudge.B:theafter-taxcostisunchanged.C:thelowertheafter-taxcostofdebt.D:thehighertheafter-taxcostofdebt.

答案:thelowertheafter-taxcostofdebt.Afirm'scostoffinancing,inanoverallsense,isequaltoits（）

A:requiredyieldthatinvestorsseekforvariouskindsofsecurities.B:requiredrateofreturnthatinvestorsseekforvariouskindsofsecurities.C:None.D:weightedaveragecostofcapital.

答案:requiredyieldthatinvestorsseekforvariouskindsofsecurities.；requiredrateofreturnthatinvestorsseekforvariouskindsofsecurities.；weightedaveragecostofcapital.Thecostofdebtisequaltothecurrentbondyieldonbondsofsimilarriskclass,adjustedforthecorporatetaxrate.（）

A:错B:对

答案:对Thecostofnewcommonstockisgreaterthanthecostofoutstandingcommonstock.（）

A:对B:错

答案:对

第十一章单元测试

Athighertaxrates,depreciationis（）

A:Noneoftheseoptionsarecorrect.B:lessbeneficial.C:unaffected.D:morebeneficial.

答案:morebeneficial.Assumeaprojecthasearningsbeforedepreciationandtaxesof$15,000,depreciationof$25,000,andthatthefirmhasa30%taxbracket.Whataretheafter-taxcashflowsfortheproject?（）

A:Apositive$28,000B:Alossof$21,000C:Apositive$18,000D:Apositive$19,000

答案:Apositive$18,000Thereasoncashflowisusedincapitalbudgetingisbecause（）

A:toignorethetaxshieldprovidedfromdepreciationwouldignorethecashflowprovidedbythemachine,whichshouldbereinvestedtoreplaceoldermachines.B:cashoutlaysneedtobeevaluatedintermsofthepresentvalueoftheresultantcashinflows.C:cashratherthanincomeisusedtopurchasenewmachines.D:None.

答案:toignorethetaxshieldprovidedfromdepreciationwouldignorethecashflowprovidedbythemachine,whichshouldbereinvestedtoreplaceoldermachines.；cashoutlaysneedtobeevaluatedintermsofthepresentvalueoftheresultantcashinflows.；cashratherthanincomeisusedtopurchasenewmachines.Inmostcapitalbudgetingdecisions,theemphasisshouldbeonreportedearningsratherthancashflows.（）

A:错B:对

答案:错Thepaybackmethodisverybasicbutitgivestheuseranunderstandingofwhenthecostoftheinitialprojectwillbecompletelypaidoff.（）

A:错B:对

答案:对

第十二章单元测试

Acallfeatureallows（）

A:thecorporationtoredeemthebondbeforethematuritydate.B:thebondholdertoredeemthebondbeforethematuritydate.C:thebondholdertodemandincreasedcollateral.D:thecorporationtoconvertthebondtocommonstock.

答案:thecorporationtoredeemthebondbeforethematuritydate.Aconversionfeatureallows（）

A:thecorporationtoconvertthebondtootherdebt.B:thebondholdertoredeemthebondbeforethematuritydate.C:thebondholdertodemandincreasedcollateral.D:thebondholdertoconvertthebondtocommonstock.

答案:thebondholdertoconvertthebondtocommonstock.Whichofthefollowingareadvantagesofleasing?（）

A:Aleaseobligationmaybesubstantiallylessrestrictivethantheprovisionsofabondindenture.B:Thenegativeeffectsofobsolescencemaybeeliminated.C:Theremaybenodownpaymentrequirementasinapurchase.D:None.

答案:Aleaseobligationmaybesubstantiallylessrestrictivethantheprovisionsofabondindenture.；Thenegativeeffectsofobsolescencemaybeeliminated.；Theremaybenodownpaymentrequirementasinapurchase.Ascorporatebondsmatureandbecomedueforpayment,it'scommonfortheborrowingcorporationtoreplacethisdebtwiththeissuanceofnewbonds.（）

A:错B:对

答案:对Ifyouexpectinterestratestogoup,youshouldsellalong-termbondnow.（）

A:对B:错

答案:对

第十三章单元测试

Corporationspreferbondsoverpreferredstockforfinancingtheiroperationsbecause（）

A:theafter-taxcostofdebtislessthanthecostofpreferredstock.B:Noneoftheseoptionsaretrue.C:preferredstocksrequireadividend.D:bondinterestrateschangewiththeeconomy,whilestockdividendsremainconstant.

答案:theafter-taxcostofdebtislessthanthecostofpreferredstock.Theeurois（）

A:establishedinalloftheEuropeancountries.B:alloftheseoptionsaretrue.C:themostimportantinternationalcurrency.D:acommoncurrency,butcountriesthatuseitareallowedtohavetheirownmonetarypolicy.

答案:acommoncurrency,butcountriesthatuseitareallowedtohavetheirownmonetarypolicy.Globalcapitalmarketsareinfluencedby（）

A:none.B:interestrates.C:investorconfidence.D:relativeeconomicgrowth.

答案:interestrates.；investorconfidence.；relativeeconomicgrowth.TheSarbanes-OxleyActof2002holdstheCEOandCFOlegallyaccountablefortheaccuracyoftheirfirm'sfinancialstatements.（）

A:错B:对

答案:对Asinterestratesdecline,bondrefundingshouldbecomemorecommon.（）

A:对B:错

答案:对

第十四章单元测试

Amajordesireofstockholdersregardingdividendpolicyis（）

A:frequentstockdividends.B:togiveoutnodividends,sothatthecompanycanusethecashtowardsfuturegrowth.C:dividendstability.D:highpayoutswhenearningsareup,andlowerpayoutswhenearningsaredown.

答案:dividendstability.Astockdividendwill（）

A:decreasethetotalvalueofstockholders'equity.B:increasethetotalvalueofstockholders'equity.C:notaffectthetotalvalueofstockholders'equity.D:changethetotalvalueofstockholders'equitybutthedirectioncannotbedeterminedunlessthemarketpriceandparvalueisknown.

答案:notaffectthetotalvalueofstockholders'equity.Afirmmayrepurchaseitsownstockinthemarketbecause（）

A:alloftheseoptionsarecorrect.B:itprovidespositiveinformationalcontent.C:thefirm'sstockistemporarilydepressed.D:itwillincreasethestockholders'wealth.

答案:itprovidespositiveinformationalcontent.；thefirm'sstockistemporarilydepressed.；itwillincreasethestockholders'wealth.Oneofthemajorinfluencesondividendsisthecorporategrowthrateinsalesandthesubsequentreturnonassets.（）

A:错B:对

答案:对Stabilityofdividendsisnotimportanttostockholders,especially