中山大学财务管理期末试卷(英语)2
财务管理试卷及参考答案
财务管理试卷及参考答案1. What is the primary objective of financial management?A. Maximizing shareholder wealthB. Minimizing costsC. Maximizing profitsD. Minimizing riskAnswer: A. Maximizing shareholder wealth2. What is the difference between accounting and finance?A. Accounting focuses on historical financial data, while finance focuses on future financial planning.B. Accounting focuses on external reporting, while finance focuses on internal decision making.C. Accounting focuses on measuring and reporting financial transactions, while finance focuses on managing financial resources.D. Accounting focuses on profit calculation, while finance focuses on cost analysis.Answer: C. Accounting focuses on measuring and reporting financial transactions, while finance focuses on managing financial resources.C. It refers to the concept that money is always worth more in the future.D. It refers to the concept that money is always worth less in the future.4. What is the formula for calculating the future value of an investment?A.FV=PV*(1+r)^nB.FV=PV/(1+r)^nC.FV=PV*(1-r)^nD.FV=PV/(1-r)^nAnswer: A. FV = PV * (1 + r)^n5. What is the formula for calculating the present value of future cash flows?A.PV=FV*(1+r)^nB.PV=FV/(1+r)^nC.PV=FV*(1-r)^nD.PV=FV/(1-r)^nAnswer: B. PV = FV / (1 + r)^n6. What is the meaning of risk and return in financial management?C. Risk and return are unrelated concepts in financial management.D. Risk and return are interchangeable terms in financial management.7. What is working capital management?8. What is the formula for calculating the inventory turnover ratio?A. Average Inventory / Cost of Goods SoldB. Cost of Goods Sold / Average InventoryC. Average Inventory * Cost of Goods SoldD. Cost of Goods Sold * Average InventoryAnswer: B. Cost of Goods Sold / Average Inventory9. What is the purpose of financial ratios in financial analysis?D. All of the above.Answer: D. All of the above.10. What is the formula for calculating the return on equity (ROE)?C. Total Revenues / Total AssetsD. Total Revenues / Shareholders' Equity。
中山大学研究生英语期末考试题2培训讲学
中山大学研究生英语期末考试题2Passage 1One motivational analyst who became curious to know there had been such a great rise in impulse buying at supermarkets was James Vicary. He suspected that some special psychology must be going on inside the women as they shopped in supermarkets. His suspicion was that perhaps they underwent such an increase in tension when confronted with so many possibilities that they were forced into making quick purchases. He set outto find out if this was true. The best way to detect what was going on inside the shopper was through the use of a galvanometer or lie detector. That obviously was impractical. The next best thing was to use a hidden motion-picture camera and record the eye-blink rate of the women as they shopped. How fast a person blinks his eyes is a pretty good index of his state of inner tension. The average person, according to Mr. Vicary, normally blinks his eyes about 32 times a minute. If he is tense, he blinks them more frequently; and, under extreme tension, he may blink up to 50 or 60 times. If he is notably relaxed, on the other hand, his eye-blink rate may drop to a subnormal twenty or less.Mr. Vicary set up his cameras and started following the ladies as they entered the store. The results were startling, even to him. Their eye-blink rate, instead of going up to indicate mounting tension, went down and down, to a very subnormal fourteen blinks a minute. The ladies fell into what Mr. Vicary calls a hypnoidal trance, a light kind of trance that, he explains, is the first stage of hypnosis. Mr. Vicary has decided that the main cause of the trance is that the supermarket is packed with products which in former years would have been items only kings and queens could have afforded and here in this fairyland they were ava ilable to all. Mr. Vicary theorizes: “Just within this generation, anyone can be a king or queen and go through these stores where the products say ‘buy me, buy me’.”1 Vicary’s curiosity was aroused by the fact that _________.A. there was a decrease in sales in supermarketsB. women were showing strong resistance to products in supermarketsC. there seemed to be no logic in women’s buying habitsD. women were shopping very carefully2 According to the article, eye-blink rate is an indication of ________.A. the truth or falsity of a statementB. the mental ability of a personC. blood pressureD. the emotional state of a person3 Mr. Vicary’s test ________________.A. proved his original hypothesis to be trueB. proved that the tension of a woman shopper, after entering the store, decreasedrather than increasedC. nullified the eye-blink rate as a measurement of tensionD. showed that a woman’s reaction to the products in a supermarket is impossible todetermine4 After his tests, Mr. Vicary concluded that _____________.A. shopping was apt to create serious nervous disordersB. a supermarket is a fantastic placeC. women are entranced by the many wonderful items available in supermarketsD. women develop an inferiority complex when in supermarkets5 Implied but not stated: _______________.A. Quick purchases are the result of inner tensionB. The first stage of hypnosis is a light tranceC. Research conducted by motivation analysis can disprove their original premisesD. Supermarkets seeking a fairyland atmosphere should install hidden moviecamerasPassage 2In science, a theory is a reasonable explanation of observed events that are related.A theory often involves an imaginary model that helps scientists picture the way an observed event could be produced. A good example of this is found in the kinetic molecular theory, in which gases are pictured as being made up of many small particles that are in constant motion.A useful theory, in addition to explaining past observations, helps to predict events that have not as yet been observed. After a theory has been publicized, scientists design experiments to test the theory. If observations confirm the scientists’ predictions, the theory is supported. If observations do not confirm the predictions, the scientists must search further. There may be a fault in the experiment, or the theory may have to be revised or rejected.Science involves imagination and creative thinking as well as collecting information and performing experiments. Facts by themselves are not science. As the mathematician Jules Henri Poincare said: “Science is built with facts just as a house is built with bricks, but a collection of facts cannot be called science any more than a pile of bricks can be called a house.”Most scientists start an investigation by finding out what other scientists have learned about a particular problem. After known facts have been gathered, the scientist comes to the part of the investigation that requires considerable imagination. Possible solutions to the problem are formulated. These possible solutions are called hypotheses.In a way, any hypothesis is a leap into the unknown. It extends the scientist’s thinking beyond the known facts. The scientist plans experiments, performs calculations, and makes observations to test hypotheses. For without hypotheses, further investigation lacks purpose and direction. When hypotheses are confirmed, they are incorporated into theories.6 “Bricks” are mentioned in Paragraph 3 to indicate how _________.A. mathematicians approach scienceB. building a house is like performing experimentsC. science is more than a collection of factsD. scientific experiments have led to improved technology7 In the fourth paragraph, the author implies that imagination is most important toscientists when they ________.A. evaluate previous work on a problemB. formulate possible solutions to a problemC. gather known factsD. close an investigation8 In the last paragraph, the author refers to hypothesis as “a leap into the unknown”in order to show that hypotheses ________________.A. are sometimes ill-conceivedB. can lead to dangerous resultsC. go beyond available factsD. require effort to formulate9 In the last paragraph, what does the author imply is a major function ofhypotheses?A. Sifting through known facts.B. Communicating a scientist’s thoughts to others.C. Providing direction for scientific research.D. Linking together different theories.10 Which of the following statements is supported by the passage?A. Theories are simply imaginary models of past events.B. It is better to revise a hypothesis than to reject it.C. A scientist’s most difficult task is testing hypotheses.D. A good scientist needs to be creative.Passage 3For most of us, the work is the central, dominating fact of life. We spend more than half our conscious hours at work, preparing for work, traveling to and from work. What we do there largely determines our standard of living and to a considerable extent the status we are accorded by our fellow citizens as well. It is sometimes said that because leisure has become more important the indignities and injustices of work can be pushed into a corner, that because most work is pretty intolerable, the people who do it should compensate for its boredom, frustrations and humiliations by concentrating their hopes on the other parts of their lives. I reject that as a counsel of despair. For the foreseeable future the material and psychological rewards which work can provide, and the conditions in which work is done, will continue to play a vital part in determining the satisfaction that life can offer. Yet only a small minority can control the pace at which they work or the conditions in which their work is done; only for a small minority does work offer scope for creativity, imagination, or initiative.Inequality at work and in work is still one of the cruelest and most glaring forms of inequality in our society. We cannot hope to solve the more obvious problems of industrial life, many of which arise directly or indirectly from the frustrations created by inequality at work, unless we tackle it head-on. Still less can we hope to create a decent and humane society.The most glaring inequality is that between managers and the rest. For most managers, work is an opportunity and a challenge. Their jobs engage their interest and allow them to develop their abilities. They are constantly learning; they are able toexercise responsibility; they have a considerable degree of control over their own and others’ working live s. Most important of all, they have opportunity to initiate. By contrast, for most manual workers, and for a growing number of white-collar workers, work is a boring, dull, even painful experience. They spend all their working lives in conditions which would be regarded as intolerable --- for themselves --- by those who take the decisions which let such conditions continue. The majority have little control over their work; it provides them with no opportunity for personal development. Often production is so designed that workers are simply part of the technology. In offices, many jobs are so routine that workers justifiably feel themselves to be mere cogs in the bureaucratic machine. As a direct consequence of their work experience, many workers feel alienated from their work and their firm, whether it is in public or in private ownership.11 In the writer’s opinion, people judge others by_________.A. the type of work they doB. the place where they workC. the time they spend at workD. the amount of money they earn12 According to the writer, in the future, work will ________.A. matter less than it does nowB. be as important as it is nowC. be better paid than it is nowD. offer more satisfaction13 What does the writer think is needed to solve our industrial problems?A. A reduction in the number of strikesB. Equality in salariesC. A more equal distribution of responsibilityD. An improvement in moral standards14 What advantages does the writer say managers have over other workers?A. They cannot lose their jobs.B. They get time off to attend courses.C. They can work at whatever interests them.D. They can make their own decisions.15 Working conditions generally remain bad because _______________.A. the workers are quite satisfied with themB. no one can decide what to do about themC. managers see no need to change themD. office workers want to protect their positionsPassage 4Coincident with concerns about the accelerating loss of species and habitats has been a growing appreciation of the importance of biological diversity, the number of species in a particular ecosystem, to the health of the Earth and human being. Much has been written about the diversity of terrestrial organisms, particularly the exceptionally rich life associated with tropical rain-forest habitats. Relatively little has been said, however,about diversity of life in the sea even though coral reef systems are comparable to rain forests in terms of richness of life.An alien exploring Earth would probably give priority to the planet’s dominant, most distinctive feature – ocean. Humans have a bias toward land that sometimes gets in the way of truly examining global issues. Seen from far away, it is easy to realize that landmasses occupy one-third of the Earth’s surface. Given t hat two-thirds of the Earth’s surface is water and that marine life lives at all levels of the ocean, the total three-dimensional living space of the ocean is perhaps 100 times greater than that of land and contains more than 90 percent of all life on Earth even though the ocean has fewer distinct species.The fact that half of the known species are thought to inhabit the world’s rain forests does not seem surprising, considering the huge numbers of insects that comprise the bulk of the species. One scientist found many different species of ants in just one tree from a rain forest. While every species is different from every other species, their genetic makeup constrains them to be insects and to share similar characteristics with 750,000 species of insects. If basic, broad categories such as phyla and classes are given more emphasis than differentiating between species, then the greatest diversity of life is unquestionably the sea. Nearly every major type of plant and animal has some representation there.To appreciate fully the diversity and abundance of life in the sea, it helps to think small. Every spoonful of ocean water contains life on the order of 100 to 100,000 bacterial cells plus assorted microscopic plants and animals, including larvas of organisms ranging from sponges and corals to starfish and clams and much more.16 What is the main point of the passage?A. Humans are destroying thousands of species.B. There are thousands of insect species.C. The sea is even richer in life than the rain forests.D. Coral reefs are similar to rain forests.17 Why does the author compare rain forests and coral reefs (Paragraph 1)?A. They are approximately the same size.B. They share many similar species.C. Most of their inhabitants require water.D. Both have many different forms of life.18 The passage suggests that most rain forest species are ________________.A. insectsB. bacteriaC. mammalsD. birds19 The author argues that there is more diversity of life in the sea than in the rainforests because ____________.A. more phyla and classes of life are represented in the seaB. there are too many insects to make meaningful distinctionsC. many insect species are too small to divide into categoriesD. marine life-forms reproduce at a faster rate20 Which of the following conclusions is supported by the passage?A. Ocean life is highly adaptive.B. More attention needs to be paid to preserving ocean species and habitats.C. Ocean life is primarily composed of plants.D. The sea is highly resistant to the damage done by pollutants.Passage 5Battles are like marriages. They have a certain fundamental experience they share in common; they differ infinitely, but sill they are all alike. A battle seems to me a conflict of will to the death in the same way that a marriage of love is the identification of two human beings to the end of the creation of life – as death is the reverse of life, and love of hate. Battles are commitments to cause death as marriages are commitments to create life. Whether, for any individual, either union results in death or in the creation of new life, each risks it – and in the risk commits himself.As the servants of death, battles will always remain horrible. Those who are fascinated by them are being fascinated by death. There is no battle aim worthy of the name except that of ending all battles. Any other conception is, literally, suicidal. The fascist worship of battle is a suicidal drive; it is love of death instead of life.In the same idiom, to triumph in battle over the forces which are fighting for death is – again literally –to triumph over death. It is a surgeon’s triumph as he cuts a body and bloodies his hands in removing a cancer in order to triumph over death that is in the body.In these thoughts I have found my own peace, and I return to an army that fights death and cynicism in the name of life and hope. It is a good army. Believe in it.21 Although the author says that battles are horrible, he also says that_________.A. most people find fascination in themB. there is no battle aim worthy of the nameC. one should love life and not deathD. fighting to end battles is justifiable22 The author states that one who fights a battle toward any end other than peace is________.A. tainted by fascismB. misguided and unworthyC. victimized by unconscious drives to killD. bent on his own destruction23 The article says that the individual, in battle and in marriage, must_________.A. make a unionB. compromise his beliefsC. take the risks he has committed himself toD. recognize that death is the reverse of life24 The article says that a surgeon can triumph when he_____________.A. performs a successful operationB. triumphs over the bodyC. removes a cancerD. cuts out that which is life-destroying25 Implied by the a uthor, but not stated: “I have found peace as I _________.”A. think about life and deathB. return to an army that fights death and cynicismC. consider becoming a surgeonD. r ecognize that life and hope can triumph if one fights for themPassage 6There is little question that substantial labor-market differences exist between men and women. Among the most researched difference is the male-female wage gap. Many different theories are used to explain why men earn more than women. One possible reason is based on the limited geographical mobility of married women(Robert Frank, 1978). Family mobility is a joint decision in which the needs of the husband and wife are balanced to maximize family welfare. Job-motivated relocations are generally made to benefit the primary earner in the family. This leads to a constrained job search for the secondary earner, as he or she must search for a job in a limited geographic area. Since the husband is still the primary wage earner in many families, the job search of the wife may suffer. Individuals who are tied to a certain area are labled ‘tied-stayers’, while secondary earners who move for the benefit of the family are labeled ‘tied-movers’(Jacob Mincer, 1978).The wages of a tied-stayer or tied-mover may not be substantially lower if the family lives in or moves to a large city. If a large labor market has more cacancies, the wife may locate a wage offer near the maximum she would find with a nation-wide search. However, being a tied-stayer or tied-mover can lower the wife’s wage if the family livesin or moves to a small community. A small labor market will reduce the likelihood of her finding a job that utilizes her skills. As a result she may accept a job for which she is overqualified and thus earn a lower wage. This hypothesized relationship between the likelihood of being overqualified and SMSA size is termed ‘differential overqualification.’Frank (1978) and Haim Ofek and Yesook Merrill(1994) provide support for the theory of differential overqualification by finding that the male-female wage gap is greater in smaller SMSA’s.While the results are consistent with the existence of differential overqualification, they may also result from other situations as well. Firms in small labor market may use their monopsony power to keep wages down. Local demand shocks are found to be a major source of wage variation both across and within local labor market(Roberts Topel, 1986). Since large labor markets are generally more diversified, a demand shock can have a substantial impact on immobile workers in small labor markets. Another reason for examining differential overqualification involves the assumption that there are more vacancies in large labor markets. While there is little doubt that more vacancies exist in large labor markets, there are also likely to be more people searching for jobs in large labor markets. If the greater number of vacancies is offset by the larger number of searchers, it is unclear whether women will be more likely to be overqualified in smalllabor market. Instead of relying on wages to determine if differential overqualification exists, we consider an explicit form of overqualification based on education.26 According to the author, the male-female wage gap ________.A is justifiedB has important repercussions on family lifeC represents a sexist attitude toward womenD is simply one of a considerable number of labor-market differences27 “Geographical mobility( Para. 1)” as used in the passage, refers to ________.A the way in which Americans tend to move from job to jobB the penchant wage-earners have to maximize family welfareC the necessity to relocate in order to increase wagesD all of the above28 The difference between a ‘tied-stayer’ and a ‘tied-mover’ is that ________.A the primary earner is forced to search for work in a specific area while thesecondary earner is freer to roam aboutB the former is obliged to remain in an area while the latter is notC the former is the wife and the later is the husbandD the latter’s salary is of secondary importance to the former’s salary29 With which of the following statements would the author agree?A The size of the labor market determines recompense.B The size of the labor market determines acquired skills utilization.C The size of the labor market determines the probability of matching skills withappropriate wage level.D All of the above.30 The names and dates between parentheses ________.A refer to bibliographical entriesB explain who discussed what and when they discussed itC are references to what the author has readD may be described by all of the abovePart II. Vocabulary and Structure （40x0.5=20points）Section A: In this section, there are 20 incomplete sentences, each with four items marked A, B, C and D. Choose one item that best completes the sentence and mark your choice on your ANSWER SHEET with a single line through the center.31.What else does talking frankly and informally mean but an invitation to ________without any career consequence?A. whoop it upB. unload opinionsC. hang aroundD. incur a debt32.The Single in the past, of the _______ego and much-watched answering machine, wastraditionally at the margin of society: a figure of fun, pity and awe.A. archlyB. gallantlyC. wobblyD. allegedly33. Mr. Smith, who was worried that the ban might ________ on the rights of law-abidinggun owners, had already voted against the bill.A. infringeB. IntegrateC. InferiorD. incorporate34. This event is called a party --- a place where one _______ without worrying aboutbeing judged by the cold standard of professional usefulness.A. rest upB. fork outC. pull backD. let loose35. A host of other singles services have sprung up, from dogwalkers to alarm systems toagencies that will water your plants or b ring you aspirin and coffee when you’re_________.A. hung aroundB. hung overC. hung upD. hung on36. The layout of space characteristic of French cities is only one aspect of the theme ofcentralization that ______ French culture.A. fantasizesB. internalizesC. socializesD. characterizes37. In the United States, cities are usually laid out along a grid, streets and buildings arenumbered __________.A. quintessentiallyB.archaeologicallyC. sequentiallyD. dysfunctionally38. In middle-class America, specific spaces are _________ for specific activities.A. populatedB. dominatedC. designatedD. validated39. This pattern has been used for thousands of years, as demonstrated by thearchaeological evidence _______ in ancient Indian cities.A. undefinedB. uncoveredC. undoneD. untitled40. Today about a fifth of all married couples still ______ the old-style marriage in whichthe wife stays home to raise children and the husband works.A. opt withB. opt toC. opt forD. opt against41. He doesn't conform to the usual ________ of the city businessman with a dark suit androlled umbrella.A. stereotypeB. controversyC. geneticsD. custody42. They were told to take whatever action they ________ necessary.A. seemedB. inhibitedC. prohibitedD. deemed43. When the war broke out, a large number of refugees crossed the border, seeking_______ in the neighboring country.A. caseworkB. smugnessC. sancturyD. riff44. We should strengthen regulation, prevent and ______ financial risks so as to providebetter banking services for economic and social development.A. plunkB. defuseC. violateD. strive45. Bothered by terrorism, world leaders are now united in their _____ for peace.A. questB. intimacyC. validationD. condo46. With his prison record and lack of experience, he’s already got two _____ against himwhen he applies for a job.A. advantagesB. aspirationsC. strikesD. knockers47. Robert has developed a ________ on his shoulder about not going to universitybecause of his poor family.A. chopB. carpC. chipD. chaw48. New computer systems have made old methods of data processing _______ .A. unfazedB. pretentiousC. substantiveD.obsolete49. Although they are always at the center of things, they tend to be loners and are ____ tostress when life becomes difficult.A. proneB. aboutC. motiveD. sturdy50. In recent years, young parents, female professionals, and well-educated parents aremore likely to ______ their children into more equal gender roles.A. perceiveB. dominateC. socializeD. prescribePart BDirections: In this section, there are 20 complete sentences, each with an underlined part. Replace each underlined word/phrase with one of the four items marked A, B, C and D that best keeps its meaning and mark your choices on your ANSWER SHEET with a single line through the center.51.In view of the insecurity of online shopping, doing a little bit of research beforepurchasing will protect you against a dodgy seller trying to pull a fast one.A.make profitB. deceiveC. get rich quickD. make a deal52. She hasn’t ruled out marriage, but wouldn’t give up her freedom for a man.A. clutchedB. intrudedC. excludedD. included53. The dilemma posed by modern medical technology has created the growing newdiscipline of bioethics.A.ProposedB. imposedC. presentedD. represented54. Global warming could wreak havoc in China. The rise in temperatures would worsenthe water shortage problem in North China, in the area of Three Gorges Dam it warned heavy rainfall and could trigger landslides or mudflows,A.vistaB. libidoC. damageD. fusion55. Married types who have bickered once too often about toothpaste caps or dust bunniesare opting to live apart in peace rather than together in stress.A. groanedB. trampedC. strainedD. quarrelled56. The point of an office party is not whooping it up or telling people off, it is showingappreciation of the staff.A. reprimandingB. remindingC. commandingD. demanding57. In the wake of technology’s advances in medicine, a heated debate is taking place inhospitals and nursing homes across the country.A.WithB. WithoutC. ForD. Against58. The doctors threatened to take us to court if we didn’t go along with their procedures.A. coincide withB. agree withC. afflict withD. grapple with59. Doctor’s power to treat with an array of space-age techniques has outstripped thebody’s capacity to heal.A. excelledB. excludedC. exceededD. externalized60. Millions of singles yearning for escape zones or solitude are straining Europe’s cityhousing market.A. opting forB. fighting forC. searching forD. longing for61. The little girl regarded me with suspicion as I approached the door.A. condonedB. appalledC. frayedD. gazed at62. With the development of science and technology, some scientists believe that soon itwill be commonplace for people to travel to the moon.A. ordinaryB. unusualC. impulsiveD. devastating63. When the girl was not elected for the varsity team, her mother flew into a rage, cursingand calling the coach all sorts of names.A. beamed with prideB. petered outC. rode the waveD. gotangry64. Both in revolution and in construction we should also learn from foreign countries anddraw on their experience, but mechanical application of foreign experience andcopying of foreign models will get us nowhere.A. concurB. useC. attestD. impart。
中山大学新华学院会计学财务管理学专业
中山大学新华学院会计学/财务管理学专业考试试题（B卷）标准答案及评分标准一、单项选择题（本题共20小题，每小题1.5分，共30分）。
1、（B）2、（A）3、（B）4、（B）5、（C）6、（C）7、（C）8、（D）9、（B）10、（C）11、（D）12、（D）13、（D）14、（A）15、（A）16、（C）17、（D）18、（A）19、（B）20、（C）二、多项选择题（本题共5小题，每小题2分，共10分）。
1、（ACD）2、（B D ）3、（ACD）4、（A D）5、（ABC）三、判断题（正确打√，错误打×，本题共10小题，每小题1分，共10分）。
1、（√）2、（×）3、（×）4、（√）5、（√）6、（√）7、（×）8、（√）9、（×）10、（×）四、计算分析题（本题共3小题，共20分）。
1．（5分）表中A=800 000+240 000-200 000=840 000 （1分）B=10 000+75 000 -60 000=25 000 （1分）C= 12 000+20 000-10 000=22 000 （1分）D=500 000+80 000- 20 000=560 000 （1分）E=2 000+50 000+10 000=62 000 （1分）2. （5分）红字更正法（1分）借：销售费用借：管理费用 5 000贷：银行存款2分）贷：银行存款 5 000（2分）3. （10分）2009年11月30日不需要调整企业银行存款日记账，原因：未达账项到达时需要正常入账。
（1分）五、综合业务题（本题共30分，每笔业务2分）1.借：银行存款 800 000贷：实收资本 500 000资本公积 300 000 （2分）2．用银行存款归还银行短期借款50 000元。
借：短期借款 50 000贷：银行存款 50 000 （2分）3．从银行提取现金8 000元，备用。
中山大学研究生英语期末考试题
Passage 1One motivational analyst who became curious to know there had been such a great rise in impulse buying at supermarkets was James Vicary. He suspected that some special psychology must be going on inside the women as they shopped in supermarkets. His suspicion was that perhaps they underwent such an increase in tension when confronted with so many possibilities that they were forced into making quick purchases. He set out to find out if this was true. The best way to detect what was going on inside the shopper was through the use of a galvanometer or lie detector. That obviously was impractical. The next best thing was to use a hidden motion-picture camera and record the eye-blink rate of the women as they shopped. How fast a person blinks his eyes is a pretty good index of his state of inner tension. The average person, according to Mr. Vicary, normally blinks his eyes about 32 times a minute. If he is tense, he blinks them more frequently; and, under extreme tension, he may blink up to 50 or 60 times. If he is notably relaxed, on the other hand, his eye-blink rate may drop to a subnormal twenty or less.Mr. Vicary set up his cameras and started following the ladies as they entered the store. The results were startling, even to him. Their eye-blink rate, instead of going up to indicate mounting tension, went down and down, to a very subnormal fourteen blinks a minute. The ladies fell into what Mr. Vicary calls a hypnoidal trance, a light kind of trance that, he explains, is the first stage of hypnosis. Mr. Vicary has decided that the main cause of the trance is that the supermarket is packed with products which in former years would have been items only kings and queens could have afforded and here in this fairyland they were available to all. Mr. Vi cary theorizes: “Just within this generation, anyone can be a king or queen and go through these stores where the products say ‘buy me, buy me’.”1 Vicary’s curiosity was aroused by the fact that _________.A. there was a decrease in sales in supermarketsB. women were showing strong resistance to products in supermarketsC. there seemed to be no logic in women’s buying habitsD. women were shopping very carefully2 According to the article, eye-blink rate is an indication of ________.A. the truth or falsity of a statementB. the mental ability of a personC. blood pressureD. the emotional state of a person3 Mr. Vicary’s test ________________.A. proved his original hypothesis to be trueB. proved that the tension of a woman shopper, after entering the store, decreasedrather than increasedC. nullified the eye-blink rate as a measurement of tensionD. showed that a woman’s reaction to the products in a supermarket is impossible todetermine4 After his tests, Mr. Vicary concluded that _____________.A. shopping was apt to create serious nervous disordersB. a supermarket is a fantastic placeC. women are entranced by the many wonderful items available in supermarketsD. women develop an inferiority complex when in supermarkets5 Implied but not stated: _______________.A. Quick purchases are the result of inner tensionB. The first stage of hypnosis is a light tranceC. Research conducted by motivation analysis can disprove their original premisesD. Supermarkets seeking a fairyland atmosphere should install hidden movie cameras Passage 2In science, a theory is a reasonable explanation of observed events that are related. A theory often involves an imaginary model that helps scientists picture the way an observed event could be produced. A good example of this is found in the kinetic molecular theory, in which gases are pictured as being made up of many small particles that are in constant motion.A useful theory, in addition to explaining past observations, helps to predict events that have not as yet been observed. After a theory has been publicized, scientists design experiments to test the theory. If observations confirm the scientists’ predictions, the theory is supported. If observations do not confirm the predictions, the scientists must search further. There may be a fault in the experiment, or the theory may have to be revised or rejected.Science involves imagination and creative thinking as well as collecting information and performing experiments. Facts by themselves are not science. As the mathematician Jules Henri Poincare said: “Science is built with facts just as a house is built with bricks, but a collection of facts cannot be called science any more than a pile of bricks can be called a house.”Most scientists start an investigation by finding out what other scientists have learned about a particular problem. After known facts have been gathered, the scientist comes to the part of the investigation that requires considerable imagination. Possible solutions to the problem are formulated. These possible solutions are called hypotheses.In a way, any hypothesis is a leap into the unknown. It extends the scientist’s thinking beyond the known facts. The scientist plans experiments, performs calculations, and makes observations to test hypotheses. For without hypotheses, further investigation lacks purpose and direction. When hypotheses are confirmed, they are incorporated into theories.6 “Bricks” are mentioned in Paragraph 3 to indicate how _________.A. mathematicians approach scienceB. building a house is like performing experimentsC. science is more than a collection of factsD. scientific experiments have led to improved technology7 In the fourth paragraph, the author implies that imagination is most important toscientists when they ________.A. evaluate previous work on a problemB. formulate possible solutions to a problemC. gather known factsD. close an investigation8 In the last paragraph, the author refers to hypothesis as “a leap into the unknown” inorder to show that hypotheses ________________.A. are sometimes ill-conceivedB. can lead to dangerous resultsC. go beyond available factsD. require effort to formulate9 In the last paragraph, what does the author imply is a major function ofhypotheses?A. Sifting through known facts.B. Communicating a scientist’s thoughts to others.C. Providing direction for scientific research.D. Linking together different theories.10 Which of the following statements is supported by the passage?A. Theories are simply imaginary models of past events.B. It is better to revise a hypothesis than to reject it.C. A scientist’s most difficult task is testing hypotheses.D. A good scientist needs to be creative.Passage 3For most of us, the work is the central, dominating fact of life. We spend more than half our conscious hours at work, preparing for work, traveling to and from work. What we do there largely determines our standard of living and to a considerable extent the status we are accorded by our fellow citizens as well. It is sometimes said that because leisure has become more important the indignities and injustices of work can be pushed into a corner, that because most work is pretty intolerable, the people who do it should compensate for its boredom, frustrations and humiliations by concentrating their hopes on the other parts of their lives. I reject that as a counsel of despair. For the foreseeable future the material and psychological rewards which work can provide, and the conditions in which work is done, will continue to play a vital part in determining the satisfaction that life can offer. Yet only a small minority can control the pace at which they work or the conditions in which their work is done; only for a small minority does work offer scope for creativity, imagination, or initiative.Inequality at work and in work is still one of the cruelest and most glaring forms of inequality in our society. We cannot hope to solve the more obvious problems of industrial life, many of which arise directly or indirectly from the frustrations created by inequality at work, unless we tackle it head-on. Still less can we hope to create a decent and humane society.The most glaring inequality is that between managers and the rest. For most managers, work is an opportunity and a challenge. Their jobs engage their interest and allow them to develop their abilities. They are constantly learning; they are able to exercise responsibility; they have a considerable degree of control over their own and others’working lives. Most important of all, they have opportunity to initiate. By contrast, for most manual workers, and for a growing number of white-collar workers, work is a boring, dull, even painful experience. They spend all their working lives in conditions which would be regarded as intolerable --- for themselves --- by those who take the decisions which let such conditions continue. The majority have little control over their work; it provides them with no opportunity for personal development. Often production is so designed that workers are simply part of the technology. In offices, many jobs are so routine that workers justifiably feel themselves to be mere cogs in the bureaucratic machine. As a direct consequence of their work experience, many workers feel alienated from their work and their firm, whether it is in public or in private ownership.11 In the writer’s opinion, people judge others by_________.A. the type of work they doB. the place where they workC. the time they spend at workD. the amount of money they earn12 According to the writer, in the future, work will ________.A. matter less than it does nowB. be as important as it is nowC. be better paid than it is nowD. offer more satisfaction13 What does the writer think is needed to solve our industrial problems?A. A reduction in the number of strikesB. Equality in salariesC. A more equal distribution of responsibilityD. An improvement in moral standards14 What advantages does the writer say managers have over other workers?A. They cannot lose their jobs.B. They get time off to attend courses.C. They can work at whatever interests them.D. They can make their own decisions.15 Working conditions generally remain bad because _______________.A. the workers are quite satisfied with themB. no one can decide what to do about themC. managers see no need to change themD. office workers want to protect their positionsPassage 4Coincident with concerns about the accelerating loss of species and habitats has been a growing appreciation of the importance of biological diversity, the number of species in a particular ecosystem, to the health of the Earth and human being. Much has been written about the diversity of terrestrial organisms, particularly the exceptionally rich life associated with tropical rain-forest habitats. Relatively little has been said, however, about diversity of life in the sea even though coral reef systems are comparable to rain forests interms of richness of life.An alien exploring Earth would probably give priority to the planet’s dominant, m ost distinctive feature – ocean. Humans have a bias toward land that sometimes gets in the way of truly examining global issues. Seen from far away, it is easy to realize that landmasses occupy one-third of the Earth’s surface. Given that two-thirds of the Earth’s surface is water and that marine life lives at all levels of the ocean, the total three-dimensional living space of the ocean is perhaps 100 times greater than that of land and contains more than 90 percent of all life on Earth even though the ocean has fewer distinct species.The fact that half of the known species are thought to inhabit the world’s rain forests does not seem surprising, considering the huge numbers of insects that comprise the bulk of the species. One scientist found many different species of ants in just one tree from a rain forest. While every species is different from every other species, their genetic makeup constrains them to be insects and to share similar characteristics with 750,000 species of insects. If basic, broad categories such as phyla and classes are given more emphasis than differentiating between species, then the greatest diversity of life is unquestionably the sea. Nearly every major type of plant and animal has some representation there.To appreciate fully the diversity and abundance of life in the sea, it helps to think small. Every spoonful of ocean water contains life on the order of 100 to 100,000 bacterial cells plus assorted microscopic plants and animals, including larvas of organisms ranging from sponges and corals to starfish and clams and much more.16 What is the main point of the passage?A. Humans are destroying thousands of species.B. There are thousands of insect species.C. The sea is even richer in life than the rain forests.D. Coral reefs are similar to rain forests.17 Why does the author compare rain forests and coral reefs (Paragraph 1)?A. They are approximately the same size.B. They share many similar species.C. Most of their inhabitants require water.D. Both have many different forms of life.18 The passage suggests that most rain forest species are ________________.A. insectsB. bacteriaC. mammalsD. birds19 The author argues that there is more diversity of life in the sea than in the rainforests because ____________.A. more phyla and classes of life are represented in the seaB. there are too many insects to make meaningful distinctionsC. many insect species are too small to divide into categoriesD. marine life-forms reproduce at a faster rate20 Which of the following conclusions is supported by the passage?A. Ocean life is highly adaptive.B. More attention needs to be paid to preserving ocean species and habitats.C. Ocean life is primarily composed of plants.D. The sea is highly resistant to the damage done by pollutants.Passage 5Battles are like marriages. They have a certain fundamental experience they share in common; they differ infinitely, but sill they are all alike. A battle seems to me a conflict of will to the death in the same way that a marriage of love is the identification of two human beings to the end of the creation of life – as death is the reverse of life, and love of hate. Battles are commitments to cause death as marriages are commitments to create life. Whether, for any individual, either union results in death or in the creation of new life, each risks it – and in the risk commits himself.As the servants of death, battles will always remain horrible. Those who are fascinated by them are being fascinated by death. There is no battle aim worthy of the name except that of ending all battles. Any other conception is, literally, suicidal. The fascist worship of battle is a suicidal drive; it is love of death instead of life.In the same idiom, to triumph in battle over the forces which are fighting for death is – again literally –to triumph over death. It is a surgeon’s triumph as he cuts a body and bloodies his hands in removing a cancer in order to triumph over death that is in the body.In these thoughts I have found my own peace, and I return to an army that fights death and cynicism in the name of life and hope. It is a good army. Believe in it.21 Although the author says that battles are horrible, he also says that_________.A. most people find fascination in themB. there is no battle aim worthy of the nameC. one should love life and not deathD. fighting to end battles is justifiable22 The author states that one who fights a battle toward any end other than peace is________.A. tainted by fascismB. misguided and unworthyC. victimized by unconscious drives to killD. bent on his own destruction23 The article says that the individual, in battle and in marriage, must_________.A. make a unionB. compromise his beliefsC. take the risks he has committed himself toD. recognize that death is the reverse of life24 The article says that a surgeon can triumph when he_____________.A. performs a successful operationB. triumphs over the bodyC. removes a cancerD. cuts out that which is life-destroying25 Implied by the author, but not stated: “I have found peace as I _________.”A. think about life and deathB. return to an army that fights death and cynicismC. consider becoming a surgeonD. recognize that life and hope can triumph if one fights for themPassage 6There is little question that substantial labor-market differences exist between men and women. Among the most researched difference is the male-female wage gap. Many different theories are used to explain why men earn more than women. One possible reason is based on the limited geographical mobility of married women(Robert Frank, 1978). Family mobility is a joint decision in which the needs of the husband and wife are balanced to maximize family welfare. Job-motivated relocations are generally made to benefit the primary earner in the family. This leads to a constrained job search for the secondary earner, as he or she must search for a job in a limited geographic area. Since the husband is still the primary wage earner in many families, the job search of the wife may suffer. Individuals who are tied to a certain area are labled ‘tied-stayers’, while secondary earners who move for the benefit of the family are labeled ‘tied-movers’(Jacob Mincer, 1978).The wages of a tied-stayer or tied-mover may not be substantially lower if the family lives in or moves to a large city. If a large labor market has more cacancies, the wife may locate a wage offer near the maximum she would find with a nation-wide search. However, being a tied-stayer or tied-mover can lower the wife’s wage if the family lives in or moves to a small community. A small labor market will reduce the likelihood of her finding a job that utilizes her skills. As a result she may accept a job for which she is overqualified and thus earn a lower wage. This hypothesized relationship between the likelihood of being overqualified and SMSA size is termed ‘differential overqualification.’ Frank (1978) and Haim Ofek and Yesook Merrill(1994) provide support for the theory of differential overqualification by finding that the male-female wage gap is greater in smaller SMSA’s.While the results are consistent with the existence of differential overqualification, they may also result from other situations as well. Firms in small labor market may use their monopsony power to keep wages down. Local demand shocks are found to be a major source of wage variation both across and within local labor market(Roberts Topel, 1986). Since large labor markets are generally more diversified, a demand shock can have a substantial impact on immobile workers in small labor markets. Another reason for examining differential overqualification involves the assumption that there are more vacancies in large labor markets. While there is little doubt that more vacancies exist in large labor markets, there are also likely to be more people searching for jobs in large labor markets. If the greater number of vacancies is offset by the larger number of searchers, it is unclear whether women will be more likely to be overqualified in small labor market. Instead of relying on wages to determine if differential overqualification exists, we consider an explicit form of overqualification based on education.26 According to the author, the male-female wage gap ________.A is justifiedB has important repercussions on family lifeC represents a sexist attitude toward womenD is simply one of a considerable number of labor-market differences27 “Geographical mobility( Para. 1)” as used in the passage, refers to ________.A the way in which Americans tend to move from job to jobB the penchant wage-earners have to maximize family welfareC the necessity to relocate in order to increase wagesD all of the above28 The difference between a ‘tied-stayer’ and a ‘tied-mover’ is that ________.A the primary earner is forced to search for work in a specific area while thesecondary earner is freer to roam aboutB the former is obliged to remain in an area while the latter is notC the former is the wife and the later is the husbandD the latter’s salary is of secondary importance to the former’s salary29 With which of the following statements would the author agree?A The size of the labor market determines recompense.B The size of the labor market determines acquired skills utilization.C The size of the labor market determines the probability of matching skills withappropriate wage level.D All of the above.30 The names and dates between parentheses ________.A refer to bibliographical entriesB explain who discussed what and when they discussed itC are references to what the author has readD may be described by all of the abovePart II. Vocabulary and Structure （40x0.5=20points）Section A: In this section, there are 20 incomplete sentences, each with four items marked A, B, C and D. Choose one item that best completes the sentence and mark your choice on your ANSWER SHEET with a single line through the center.31.What else does talking frankly and informally mean but an invitation to ________without any career consequence?A. whoop it upB. unload opinionsC. hang aroundD. incur a debt32.The Single in the past, of the _______ego and much-watched answering machine, wastraditionally at the margin of society: a figure of fun, pity and awe.A. archlyB. gallantlyC. wobblyD. allegedly33. Mr. Smith, who was worried that the ban might ________ on the rights of law-abidinggun owners, had already voted against the bill.A. infringeB. IntegrateC. InferiorD. incorporate34. This event is called a party --- a place where one _______ without worrying aboutbeing judged by the cold standard of professional usefulness.A. rest upB. fork outC. pull backD. let loose35. A host of other singles services have sprung up, from dogwalkers to alarm systems toagencies that will water your plants or bring you aspirin and coffee when you’re _________.A. hung aroundB. hung overC. hung upD. hung on36. The layout of space characteristic of French cities is only one aspect of the theme ofcentralization that ______ French culture.A. fantasizesB. internalizesC. socializesD. characterizes37. In the United States, cities are usually laid out along a grid, streets and buildings arenumbered __________.A. quintessentiallyB.archaeologicallyC. sequentiallyD. dysfunctionally38. In middle-class America, specific spaces are _________ for specific activities.A. populatedB. dominatedC. designatedD. validated39. This pattern has been used for thousands of years, as demonstrated by thearchaeological evidence _______ in ancient Indian cities.A. undefinedB. uncoveredC. undoneD. untitled40. Today about a fifth of all married couples still ______ the old-style marriage in whichthe wife stays home to raise children and the husband works.A. opt withB. opt toC. opt forD. opt against41. He doesn't conform to the usual ________ of the city businessman with a dark suit androlled umbrella.A. stereotypeB. controversyC. geneticsD. custody42. They were told to take whatever action they ________ necessary.A. seemedB. inhibitedC. prohibitedD. deemed43. When the war broke out, a large number of refugees crossed the border, seeking_______ in the neighboring country.A. caseworkB. smugnessC. sancturyD. riff44. We should strengthen regulation, prevent and ______ financial risks so as to providebetter banking services for economic and social development.A. plunkB. defuseC. violateD. strive45. Bothered by terrorism, world leaders are now united in their _____ for peace.A. questB. intimacyC. validationD. condo46. With his prison record and lack of experience, he’s already got two _____ against himwhen he applies for a job.A. advantagesB. aspirationsC. strikesD. knockers47. Robert has developed a ________ on his shoulder about not going to universitybecause of his poor family.A. chopB. carpC. chipD. chaw48. New computer systems have made old methods of data processing _______ .A. unfazedB. pretentiousC. substantiveD. obsolete49. Although they are always at the center of things, they tend to be loners and are ____ tostress when life becomes difficult.A. proneB. aboutC. motiveD. sturdy50. In recent years, young parents, female professionals, and well-educated parents aremore likely to ______ their children into more equal gender roles.A. perceiveB. dominateC. socializeD. prescribe Part BDirections: In this section, there are 20 complete sentences, each with an underlined part. Replace each underlined word/phrase with one of the four items marked A, B, C and D that best keeps its meaning and mark your choices on your ANSWER SHEET with a single line through the center.51.In view of the insecurity of online shopping, doing a little bit of research beforepurchasing will protect you against a dodgy seller trying to pull a fast one.A.make profitB. deceiveC. get rich quickD. make a deal52. She hasn’t ruled out marriage, but wouldn’t give up her freedom for a man.A. clutchedB. intrudedC. excludedD. included53. The dilemma posed by modern medical technology has created the growing newdiscipline of bioethics.A.ProposedB. imposedC. presentedD. represented54. Global warming could wreak havoc in China. The rise in temperatures would worsenthe water shortage problem in North China, in the area of Three Gorges Dam it warned heavy rainfall and could trigger landslides or mudflows,A.vistaB. libidoC. damageD. fusion55. Married types who have bickered once too often about toothpaste caps or dust bunniesare opting to live apart in peace rather than together in stress.A. groanedB. trampedC. strainedD. quarrelled56. The point of an office party is not whooping it up or telling people off, it is showingappreciation of the staff.A. reprimandingB. remindingC. commandingD. demanding57. In the wake of technology’s advances in medicine, a heated debate is taking place inhospitals and nursing homes across the country.A.WithB. WithoutC. ForD. Against58. The doctors threatened to take us to court if we didn’t go along with their procedures.A. coincide withB. agree withC. afflict withD. grapple with59. Doctor’s power to treat with an array of space-age techniques has outstripped thebody’s capacity to heal.A. excelledB. excludedC. exceededD. externalized60. Millions of singles yearning for escape zones or solitude are straining Europe’s cityhousing market.A. opting forB. fighting forC. searching forD. longing for61. The little girl regarded me with suspicion as I approached the door.A. condonedB. appalledC. frayedD. gazed at62. With the development of science and technology, some scientists believe that soon itwill be commonplace for people to travel to the moon.A. ordinaryB. unusualC. impulsiveD. devastating63. When the girl was not elected for the varsity team, her mother flew into a rage, cursingand calling the coach all sorts of names.。
《财会专业英语》期末考试卷及问题详解
《财会专业英语》期终试卷I.Put the following into corresponding groups. (15 points)1.Cash on hand2.Notes receivable3.Advances to suppliers4. Other receivables5.Short-term loans6.Intangible assets7.Cost of production 8.Current year profit 9. Capital reserve10.Long-term loans 11.Other payables 12. Con-operating expenses 13.Financial expenses 14.Cost of sale 15. Accrued payrollII.Please find the best answers to the following questions. (25 Points) 1. Aftin Co. performs services on account when Aftin collects the accountreceivableA.assets increaseB.assets do not changeC.owner’s equity d ecreasesD.liabilities decrease2. A balance sheet report .A. the assets, liabilities, and owner’s equity on a particular dateB. the change in the owner’s capital during the periodC. the cash receipt and cash payment during the periodD. the difference between revenues and expenses during the period3. The following information about the assets and liabilities at the end of 20 x1 and 20 x2 is given below:20 x 1 20 x 2Assets $ 75,000 $ 90,000Liabilities 36,000 45,000how much the owner’sequity at the end of 20 x 2 ?A.$ 4,500B.$ 6,000C.$ 45,000D.$ 43,0004. Traylor Company paid $ 2,850 on account. The effect of this transaction onthe accounting equation is to .A. Decreas e assets and decrease owner’s equityB. Increase liabilities and decrease owner’s equityC. Have no effect on total assetsD. Decrease assets and decrease liabilities5. The entry to record the collection of $ 890 from a customer on account is .A. Dr.Accounts Payable 890Cr. Cash 890B. Dr.Cash 890Cr. Accounts Receivable 890C. Dr.Cash 890Cr. Account Payable 890D. Dr.Cash 890Cr. Service Revenue 8906. The ending Cash account balance is $ 57,600. During the period, cash receipts equal $ 124,300. If the cash payments during the period total $ 135,100, then the beginning Cash amount must haveA. $ 68,400B.$ 46,800C. $ 181,900D.annot be determined from theinformation given7. Use the following selected information for the Alecia Company to calculate the correct credit column total for a trial balance .Accounts receivable $ 7,200Accounts payable $ 6,900Building $ 179,400Cash $ 15,800Capital $ 64,000Insurance expense $ 6,500Salary expense $ 56,100Salary payable $ 3,600Service revenue $ 190,500A. $ 201,000B. $ 137,100C. $ 265,000D. $ 74,5008. ABC paid $500 for inventories in cash ,and purchased additional inventories on account for $700 in the month. At the end of the month,ABC paid $300 of the account payable.what is the balance in the inventoryies account?A $ 500B. $ 900C. $ 1,200D. $ 1,5009.The debit side of an account is used to recordA.increasesB.decreasesC. increases or decreases,depending on the type of accountD.decline10.ABC ,began the year with total assets of $120,000,liabilities of $70,000,and owner’s equit y of $50,000.during the year ABC earned revenue of $110,000 and paid espenses of $30,000.and also invensted an additional $20,000 in the business .how much is the owner’s equity at the end of the year?A. $150,000B.$180,000C.$190,000D.$220,00011．Which of the following is true? __________.A. Owners’ Equity - Assets = LiabilitiesB. Assets –Owners’ Equity = LiabilitiesC. Assets + Liabilities = Owners’ EquityD. Liabilities = Owners’ Equity + Assets12．Which of these is an example of an liability account? _____ ________.A. Service RevenueB. CashC. Accounts ReceivableD. Short-term loans13．Which of the following is a correct statement of the rules of debit and credit? ______.A. Debits increase assets and decrease liabilitiesB. Debits increase assets and increase owners’ equityC. Credits decrease assets and decrease liabilitiesD. Credits increase assets and increase owners’ equity14．If earnings haven’t been distributed as dividends, it should have been retained in the company. The name of this portion of number listed in the balance sheet is ____________.A. paid-in capitalB. retained earningsC. dividendD. cash15．Please select the components which should be deducted from the original value of plant assets when we compute their net value _______.A. Merchandise inventoryB. Income tax payableC. Accumulated depreciationD. Retained earnings16．Which of the following would not be included on a balance sheet?A. Accounts receivable.B. Accounts payable.C. Sales.D. Cash.17. Remington provided the following information about its balance sheet:Cash $ 100Accounts receivable 500Stockholders' equity 700Accounts payable 200Short-term loans 1,000Based on the information provided, how much are Remington's liabilities?A. $200.B. $900.C. $1,200.D. $1,700.18. Gerald had beginning total stockholders' equity of $160,000. During theyear, total assets increased by $240,000 and total liabilities increased by $120,000. Gerald's net income was $180,000. No additional investments were made; however, dividends did occur during the year. How much were the dividends?A. $20,000.B. $60,000.C. $140,000.D. $220,000.19.If the assets of a business are $162,600 and the liabilities are $86,000,howmuch is the owner’s equity?A..$76,600B. $248,600.C. $147,000.D. $250,000.20.Aftin Co. purchases on account when Aftin pay the account payableA.assets increaseB.assets do not changeC.owner’s equity decreasesD.liabilities decrease21.A income statement reports .A. the assets, liabilities, and owner’s equity on a particular dateB. the change in the owner’s capital during the periodC. the cash receipt and cash payment during the periodD. the difference between revenues and expenses during the period22.The following information about the assets and liabilities at the end of 20 x 1and 20 x 2 is given below: 20 x 1 20 x 2Assets $ 75,000 $ 90,000Liabilities 36,000 45,000 If net income in 20 x 2 was $ 1,500 and there were no withdrawals, how much did the owner invest?A.$ 4,500B.$ 6,000C.$ 45,000D.$ 43,00023.Traylor Company receive $ 2 850 on account. The effect of this transactionon the accounting equation is to .A. Decrease assets and decreas e owner’s equityB. Increase liabilities and decrease owner’s equityC. Have no effect on total assetsD. Decrease assets and decrease liabilities24.The entry to record the collection of $ 8000 from a customer on accountis .A. Dr.Accounts Payable 8000Cr.Cash 8000B. Dr.Cash 8000Cr.Accounts Receivable 8000C. Dr.Cash 8000Cr.Account Payable 8000D. Dr.Cash 8000Cr.Service Revenue 800025.A list of a business entitys assests,liabilities,and owner’s equity on a givendate isA.a balance sheetB.an income statementC.a statement of cash flow C. A retained earnings statementIII. Translate the following sentences into Chinese.(10 points)1. The accounting profession today is changing rapidly.2. Assets are what you own.Liabilities are what you owe.Owner’s Equty iswhat’s left over .3. The original voucher is obtained or filled in what business transactions tookplace.4. Normally an asset account will have a debit balance.5. The term “debit” is often abbreviated to “Dr.”IV. Prepare a convenient bank reconciliation form according to the following bank statement and depositor’s book.(10 points)Bank StatementDepositor’s RecordBank ReconciliationDate MonthV. Put the correct answer into the blanks.(6points)1.The basic Accouting equation is: .2.The rule of debits and credits is: ,.3. Using straight-line depreciation,Annual Dpreciation=( - )/VI. Translate The Following Terms Into Chinese . (10 points).1. surplus reserve2.manufacturing machine3. Construction in progress worth5. promissory note6. in other words7.profit distribution 8. storage room9.principal plus interest 10. accounting statementVII. The following is transactions of ABC company.please make entries.(24 poins)1. .ABC company was established on Jan.1,2010,when the owners,MrsSmiths and his friends,invested $30,000 in cash,patent X,valuing $24,000 and equipment A,valuing $40,000 into the company.2. ABC sells merchandise to another customer and send the customer a$2,500 bill for the products they provide. They allows the customer to pay these goods within 30 days.3. A customer buys $3,000 worth of goods from ABC ,and draws a promissorynote from a lacal bank.4. ABC buys a machine for $20,000,and pays the bill in cash.5. ABC paid the telephone bill for $700 in cash.6. ABC paid $3,800 on the accounts payable.7. ABC determine the month depreciation of the manufactory bulding for$5,000.8. ABC purchasese materials of $5,000 on account.9. ABC sells some goods to a client and receives a check from the customerfor $ 2,000 for the goods provided.10.ABC issues a 9%-5，$100,000 bond at its face amount. The bond is dated January 1, 2010 and requires interest payments until the bond principal at the end of 5 years.(1) Entry to bonds issued;(2) Entry to record the accrual interest for each year;(3) 2014 the company repays the principal plus interest.《财会专业英语》期末试卷答卷I.Put the following into corresponding groups. (15 points)II. Please find the best answers to the following questions. (25 Points)III. Translate the following sentences into Chinese.(10 points)1.2.3.4.5.IV. （10points）Bank ReconciliationDate MonthV. Put the correct answer into the blanks.(6points)1.The basic Accouting equation is: .2.The rule of debits and credits is: ,.3. Using straight-line depreciation,Annual Dpreciation=( - )/VI. Translate The Following Terms Into Chinese . (10 points).1. 2.3. 4.5. 6.7. 8.9. 10.VII. The following is transactions of ABC company.please make entries.(24 poins)《财会专业英语》答案I.Put the following into corresponding groups. (15 points)II. Please find the best answers to the following questions. (25 Points)III. Translate the following sentences into Chinese.(10 points) （略）IV. （10points）Bank ReconciliationDate 31 Month MayV. Put the correct answer into the blanks.(6points)1.Assets=Liabilities+Owner’s equity .2. Every debit must have a credit,all debits must equal all credits. ,3. Using straight-line depreciation,Annual Dpreciation=( Original Cost- Salvage Value) /Years of Service LifeVI. Translate The Following Terms Into Chinese . (10 points).（略）VII. The following is transactions of ABC company.please make entries.(24 poins)（略）。
财务管理专业英语练习及答案
The following information is available for T om, a limited liability company:Summarized income statement for the year ended 31 December 2010.$’000Profit from operations 3,650Finance cost (loan note interest) (300)3,350Income tax expense (700)Net profit for the period 2,650Notes:1.The additional loan notes were issued on 1 January 2010. Interest was paid on 30 June2010 and 31 December 2010.2.Dividends paid during the year amounted to $750,000.RequiredPrepare the company’s cash flow statement for the year ended 31 December 2010.Cash flow statement for the year ended 31 December 2010$’000 Net profit 2,650 Add: depreciation [5,600-4,800] 800 Operating profit before working capital changes 3,450 Decrease in inventories (3,400-3,800) 400 Increase in receivables (3,800-2,900) (900) Increase in payables (3,700-3,200) 500 Increase in accruals (700-600) 100 Cash generated from operations 3,550Cash flows from investing activitiesPayments to acquire non-current assets (5,400-3,200+800) (3,000) Net cash used in investing activities (3,000)Cash flow from financing activitiesProceeds from issue of loan notes (3,000-2,000) 1,000 Dividends paid (750) Net cash from financing activities 250 Net increase in cash 800 Cash at 1 January 2010 400 Cash at 31 December 2010 1,200Below are the most recent financial statements for Wildhack. Based on the balance sheet and income statement, calculate the following ratios for 2010:(1)Current ratio; (2) Quick ratio; (3) Cash ratio; (4) Debt ratio; (5) Long-term debt ratio;(6) Times interest earned; (7) Cash flow coverage ratio; (8) Accounts receivable turnover ratio; (9) Inventory turnover ratio; (10) Accounts payable turnover ratio; (11) T otal asset turnover ratio; (12) Gross profit margin; (13) Net profit margin; (14) ROA (use net income in the numerator); (15) ROEWildhack Corporation2010 Income StatementWildhack CorporationBalance Sheet as of December 31, 2009 and 20101、Current ratio=648/1183=0.552、Quick ratio=(88+192)/1183=0.243、Cash ratio=88/1183=0.074、Debt ratio=(1183+2077)/6002=0.545、Long-term debt ratio=2077/6002=0.356、Times interest earned=813/613=1.337、Cash flow coverage ratio=(813+490)/613=2.138、Accounts receivable turnover ratio=2*3756/(224+192)=18.069、Inventory turnover ratio=2*2453/(424+368)=6.1910、Accounts payable turnover ratio=2*2453/(124+144)=18.3111、T otal assets turnover ratio=2*3756/(5996+6002)=0.6312、Gross profit margin=(3756-2453)/3756=0.3513、Net profit margin=132/3756=0.0414、ROA=2*132/(5996+6002)=0.0215、ROE=2*132/(2656+2742)=0.05Gross Sales 销售总额Less: Sales Returns and Allowances 销售退回及折让Sales Discounts 销售折扣Net Sales 销售净额Less: Cost of Goods Sold 销售成本Gross Profit on Sales 销售毛利Net Sales=Net Cash Sale + Net Credit Sale销售净额=现销净额+赊销净额。
财会专业英语期末试卷及答案
《财会专业英语》期终试卷the following into corresponding groups. (15 points)on hand receivable to suppliers4. Other receivables loans assetsof production year profit 9. Capital reserveloans payables 12. Con-operating expensesexpenses of sale 15. Accrued payrollII.Please find the best answers to the following questions. (25 Points) 1.Aftin Co. performs services on account when Aftin collects the accountreceivableincrease do not change’s equity decreases decrease2. A balance sheet report .A. the assets, liabilities, and owner’s equity on a particular dateB. the change in the owner’s capital during the periodC. the cash receipt and cash payment during the periodD. the difference between revenues and expenses during the period3. The following information about the assets and liabilities at the endof 20 x 1 and 20 x 2 is given below:20 x 1 20 x 2Assets $ 75,000 $ 90,000Liabilities 36,000 45,000how much the owner’sequity at the end of 20 x 2A.$ 4,500B.$ 6,000C.$ 45,000D.$ 43,0004. Traylor Company paid $ 2,850 on account. The effect of this transaction on the accounting equation is to .A. Decrease assets and decrease owner’s equityB. Increase liabilities and decrease owner’s equityC. Have no effect on total assetsD. Decrease assets and decrease liabilities5. The entry to record the collection of $ 890 from a customer on account is .A. Payable 890Cr. Cash 890B. 890Cr. Accounts Receivable 890C. 890Cr. Account Payable 890D. 890Cr. Service Revenue 8906. The ending Cash account balance is $ 57,600. During the period, cash receipts equal $ 124,300. If the cash payments during the period total $ 135,100, then the beginning Cash amount must haveA.$ 68,400B.$ 46,800C.$ 181,900 be determined from the informationgiven7. Use the following selected information for the Alecia Company to calculate the correct credit column total for a trial balance .Accounts receivable $ 7,200Accounts payable $ 6,900Building $ 179,400Cash $ 15,800Capital $ 64,000Insurance expense $ 6,500Salary expense $ 56,100Salary payable $ 3,600Service revenue $ 190,500A.$ 201,000B.$ 137,100C.$ 265,000D.$ 74,5008. ABC paid $500 for inventories in cash ,and purchased additional inventories on account for $700 in the month. At the end of the month,ABC paid $300 of the account is the balance in the inventoryies accountA $ 500B.$ 900C.$ 1,200D.$ 1,500debit side of an account is used to recordC. increases or decreases,depending on the type of account,began the year with total assets of $120,000,liabilities of $70,000,and owner’s equity of $50, the year ABC earned revenue of $110,000 and paid espenses of $30, also invensted an additional $20,000 in the business .how much is the owner’s equity at the end of the yearA. $150,000B.$180,000C.$190,000D.$220,00011．Which of the following is true __________.A. Owners’ Equity - Assets = LiabilitiesB. Assets –Owners’ Equity = LiabilitiesC. Assets + Liabilities = Owners’ EquityD. Liabilities = Owners’ Equity + Assets12．Which of these is an example of an liability account _____ ________.A. Service RevenueB. CashC. Accounts ReceivableD. Short-term loans13．Which of the following is a correct statement of the rules of debit and credit ______.A. Debits increase assets and decrease liabilitiesB. Debits increase assets and increase owners’ equityC. Credits decrease assets and decrease liabilitiesD. Credits increase assets and increase owners’ equity14．If earnings haven’t been distributed as dividends, it should have been retained in the company. The name of this portion of number listed in the balance sheet is ____________.A. paid-in capitalB. retained earningsC. dividendD. cash15．Please select the components which should be deducted from the original value of plant assets when we compute their net value _______.A. Merchandise inventoryB. Income tax payableC. Accumulated depreciationD. Retained earnings16． Which of the following would not be included on a balance sheetA. Accounts receivable.B. Accounts payable.C. Sales.D. Cash.17. Remington provided the following information about its balance sheet:Cash $ 100Accounts receivable 500Stockholders' equity 700Accounts payable 200Short-term loans 1,000Based on the information provided, how much are Remington's liabilitiesA. $200.B. $900.C. $1,200.D. $1,700.18. Gerald had beginning total stockholders' equity of $160,000. Duringthe year, total assets increased by $240,000 and total liabilities increased by $120,000. Gerald's net income was $180,000. No additional investments were made; however, dividends did occur during the year.How much were the dividendsA. $20,000.B. $60,000.C. $140,000.D. $220,000. the assets of a business are $162,600 and the liabilities are $86,000,how much is the owner’s equityA..$76,600B. $248,600.C. $147,000.D. $250,000. Co. purchases on account when Aftin pay the account payable increase do not change’s equity decreases decreaseincome statement reports .A. the assets, liabilities, and owner’s equity on a particular dateB. the change in the owner’s capital during the periodC. the cash receipt and cash payment during the periodD. the difference between revenues and expenses during the period following information about the assets and liabilities at the end of 20 x 1 and 20 x 2 is given below: 20 x 1 20 x 2Assets $ 75,000 $ 90,000Liabilities 36,000 45,000If net income in 20 x 2 was $ 1,500 and there were no withdrawals, how much did the owner investA.$ 4,500B.$ 6,000C.$ 45,000D.$ 43,000Company receive $ 2 850 on account. The effect of this transaction on the accounting equation is to .A. Decrease assets and decrease owner’s equityB. Increase liabilities and decrease owner’s equityC. Have no effect on total assetsD. Decrease assets and decrease liabilitiesentry to record the collection of $ 8000 from a customer on account is .A. Payable 80008000B. 8000Receivable 8000C. 8000Payable 8000D. 8000Revenue 8000list of a business entitys assests,liabilities,and owner’s equity ona given date isbalance sheet income statementstatement of cash flow C. A retained earnings statementIII. Translate the following sentences into Chinese.(10 points)1.The accounting profession today is changing rapidly.2.Assets are what you are what you ’s Equty is what’s left over .3.The original voucher is obtained or filled in what businesstransactions took place.4.Normally an asset account will have a debit balance.5.The term “debit” is often abbreviated to “Dr.”IV. Prepare a convenient bank reconciliation form according to thefollowing bank statement and depositor’s b ook.(10 points)Bank StatementDepositor’s RecordBank ReconciliationDate MonthV. Put the correct answer into the blanks.(6points)basic Accouting equation is: .rule of debits and credits is: ,.3. Using straight-line depreciation,Annual Dpreciation=( - )/VI. Translate The Following Terms Into Chinese . (10 points).1. surplus reserve machine3. Construction in progress worth5. promissory note6. in other wordsdistribution 8. storage roomplus interest 10. accounting statementVII. The following is transactions of ABC make entries.(24 poins) 1..ABC company was established on ,2010,when the owners,Mrs Smiths andhis friends,invested $30,000 in cash,patent X,valuing $24,000 and equipment A,valuing $40,000 into the company.2.ABC sells merchandise to another customer and send the customer a$2,500 bill for the products they provide. They allows the customer to pay these goods within 30 days.3.A customer buys $3,000 worth of goods from ABC ,and draws a promissorynote from a lacal bank.4.ABC buys a machine for $20,000,and pays the bill in cash.5.ABC paid the telephone bill for $700 in cash.6.ABC paid $3,800 on the accounts payable.7.ABC determine the month depreciation of the manufactory bulding for$5,000.8.ABC purchasese materials of $5,000 on account.9.ABC sells some goods to a client and receives a check from the customerfor $ 2,000 for the goods provided.issues a 9%-5， $100,000 bond at its face amount. The bond is dated January 1, 2010 and requires interest payments until the bond principal at the end of 5 years.(1) Entry to bonds issued;(2) Entry to record the accrual interest for each year;(3) 2014 the company repays the principal plus interest.《财会专业英语》期末试卷答卷the following into corresponding groups. (15 points)II. Please find the best answers to the following questions. (25 Points)III. Translate the following sentences into Chinese.(10 points) 1.2.3.4.5.IV. （10points） Bank ReconciliationDate MonthV. Put the correct answer into the blanks.(6points)basic Accouting equation is: .rule of debits and credits is: ,.3. Using straight-line depreciation,Annual Dpreciation=( - )/VI. Translate The Following Terms Into Chinese . (10 points).1. 2.3. 4.5. 6.7. 8.9. 10.VII. The following is transactions of ABC make entries.(24 poins)《财会专业英语》答案the following into corresponding groups. (15 points)II. Please find the best answers to the following questions. (25 Points)III. Translate the following sentences into Chinese.(10 points)（略）IV. （10points） Bank ReconciliationDate 31 Month MayV. Put the correct answer into the blanks.(6points)=Liabilities+Owner’s equity .2. Every debit must have a credit,all debits must equal all credits. ,3. Using straight-line depreciation,Annual Dpreciation=( Original Cost- Salvage Value) /Years of Service LifeVI. Translate The Following Terms Into Chinese . (10 points).（略）VII. The following is transactions of ABC make entries.(24 poins)（略）。
《财会专业英语》期末试卷及答案
《财会专业英语》期末试卷及答案可作为会计专业《财会专业英语》期末考试用《财会专业英语》期终试卷I.Put the following into corresponding groups. (15 points)1.Cash on hand2.Notes receivable3.Advances to suppliers4. Other receivables5.Short-term loans6.Intangible assets7.Cost of production8.Current year profit9. Capital reserve 10.Long-term loans 11.Other payables 12. Con-operating expenses 13.Financial expenses 14.Cost of sale 15. Accrued payrollII. Please find the best answers to the following questions.(25 Points) 1. Aftin Co. performs services on account when Aftin collects the accountA.assets increaseB.assets do not changeC.owner’s equity decreasesD.liabilities decrease 2. A balance sheet reportA. the assets, liabilities, and owner’s equity on a particular dateB. the change in the owner’s capital during the periodC. the cash receipt and cash payment during the periodD. the difference between revenues and expenses during the period 3. The following information about the assets and liabilities at the end of 20 x 1 and 20 x 2 is given below:$ 75,000 36,000$ 90,000 45,000AssetsLiabilitieshow much the owner’sequity at the end of 20 x 2 ?A.$ 4,500B.$ 6,000C.$ 45,000D.$ 43,0004. Traylor Company paid $ 2,850 on account. The effect of this transaction on可作为会计专业《财会专业英语》期末考试用the accounting equation is to .A. Decrease assets and decrease owner’s equityB. Increase liabilities and decrease owner’s equityC. Have no effect on total assetsD. Decrease assets and decrease liabilities5. The entry to record the collection of $ 890 from a customer on account isA. Dr.Accounts PayableCr. Cash890890B. Dr.Cash890890Cr. Accounts ReceivableC. Dr.Cash890890Cr. Account PayableD. Dr.Cash890890Cr. Service Revenue6. The ending Cash account balance is $ 57,600. During the period, cash receipts equal $ 124,300. If the cash payments during the period total $ 135,100, then the beginning Cash amount must haveA. $ 68,400B.$ 46,800C. $ 181,900D.annot be determined from theinformation given7. Use the following selected information for the Alecia Company to calculate the correct credit column total for a trial balanceAccounts receivable Accounts payable Building Cash Capital $ 7,200 $ 6,900 $ 179,400 $ 15,800 $ 64,000 $ 6,500 $ 56,100 Insurance expense Salary expense可作为会计专业《财会专业英语》期末考试用Salary payable Service revenue$ 3,600 $ 190,500A. $ 201,000B. $ 137,100C. $ 265,000D. $ 74,5008. ABC paid $500 for inventories in cash ,and purchased additional inventories on account for $700 in the month. At the end of the month,ABC paid $300 ofA $ 500 B. $ 900 C. $ 1,200 D. $ 1,5009.The debit side of an account is used to record A.increasesB.decreasesC. increases or decreases,depending on the type of accountD.decline10.ABC ,began the year with total assets of $120,000,liabilities of $70,000,and owner’s equity of $50,000.during the year ABC earned revenue of $110,000 and paid espenses of $30,000.and also invensted an additional $20,000 in the business .how much is the owner’s equity at the end of the year?A. $150,000 B.$180,000 C.$190,000 D.$220,00011．Which of the following is true? __________. A. Owners’ Equity - Assets = Liabilities B. Assets C Owners’ Equity = Liabilities C. Assets + Liabilities = Owners’Equity D. Liabilities = Owners’ Equity + Assets可作为会计专业《财会专业英语》期末考试用12．Which of these is an example of an liability account? _____ ________. A. Service Revenue B.CashC. Accounts ReceivableD. Short-term loans13．Which of the following is a correct statement of the rules of debit and credit? ______.A. Debits increase assets and decrease liabilitiesB. Debits increase assets and increase owners’ equityC. Credits decrease assets and decrease liabilitiesD. Credits increase assets and increase owners’ equity14．If earnings haven’t been distributed as dividends, it should have beenretained in the company. The name of this portion of number listed in the balance sheet is ____________.A. paid-in capitalB. retained earningsC. dividendD. cash15．Please select the components which should be deductedfrom the original value of plant assets when we compute their net value _______. A. Merchandise inventory B. Income tax payable C. Accumulated depreciation D. Retained earnings16．Which of the following would not be included on a balance sheet?A. Accounts receivable.B. Accounts payable.C. Sales.D. Cash.17. Remington provided the following information about its balance sheet: Cash $ 100 Accounts receivable 500 Stockholders' equity 700 Accounts payable 200 Short-term loans 1,000 Based on the information provided, how much are Remington's liabilities? A. $200. B. $900. C. $1,200. D. $1,700.18. Gerald had beginning total stockholders' equity of $160,000. During the可作为会计专业《财会专业英语》期末考试用year, total assets increased by $240,000 and total liabilities increased by $120,000. Gerald's net income was $180,000. No additional investments were made; however, dividends did occur during the year. How much were the dividends?A. $20,000.B. $60,000.C. $140,000.D. $220,000. 19.If the assets of a business are $162,600 and the liabilities are $86,000,how much is the owner’s equity?A..$76,600B. $248,600.C. $147,000.D. $250,000.A.assets increaseB.assets do not changeC.owner’s equity decreasesD.liabilities decreaseA. the assets, liabilities, and owner’s equity on a particular dateB. the change in the owner’s capital during the periodC. the cash receipt and cash payment during the periodD. the difference between revenues and expenses during the period 22.The following information about the assets and liabilities at the end of 20 x 1 and 20 x 2 is given below: Assets $ 75,000 36,000$ 90,000 45,000LiabilitiesIf net income in 20 x 2 was $ 1,500 and there were no withdrawals, how A.$ 4,500 B.$ 6,000 C.$ 45,000 D.$ 43,00023.Traylor Company receive $ 2 850 on account. The effect of this transaction on the accounting equation is to .A. Decrease assets and decrease owner’s equityB. Increase liabilities and decrease owner’s equityC. Have no effect on total assetsD. Decrease assets and decrease liabilities可作为会计专业《财会专业英语》期末考试用24.The entry to record the collection of $ 8000 from a customer on account isA. Dr.Accounts PayableCr.Cash8000 8000B. Dr.Cash80008000Cr.Accounts ReceivableC. Dr.Cash80008000Cr.Account PayableD. Dr.Cash80008000Cr.Service Revenue25.A list of a business ent itys assests,liabilities,and owner’s equity on a givenA.a balance sheetB.an income statementC.a statement of cash flow C. A retained earnings statementIII. Translate the following sentences into Chinese.(10 points) 1. The accounting profession today is changing rapidly.2. Assets are what you own.Liabilities are what you owe.Owner’s Equty is what’s left over .3. The original voucher is obtained or filled in what business transactions took place.4. Normally an asset account will have a debit balance.5. The term “debit” is often abbreviated to “Dr.”IV. Prepare a convenient bank reconciliation form according to the following bank statement and depositor’s book.(10 points) Bank Statement可作为会计专业《财会专业英语》期末考试用Depositor’s RecordBank ReconciliationV. Put the correct answer into the blanks.(6points)可作为会计专业《财会专业英语》期末考试用, . 3. Using straight-line depreciation,-VI. Translate The Following Terms Into Chinese . (10 points).1. surplus reserve2.manufacturing machine3. Construction in progress worth 5. promissory note 6. in other words 7.profitdistribution 8. storage room9.principal plus interest 10. accounting statementVII. The following is transactions of ABC company.please make entries.(24 poins)1. .ABC company was established on Jan.1,2022年,when the owners,Mrs Smiths and his friends,invested $30,000 in cash,patent X,valuing $24,000 and equipment A,valuing $40,000 into the company.2. ABC sells merchandise to another customer and send the customer a $2,500 bill for the products they provide. They allows the customer to pay these goods within 30 days.3. A customer buys $3,000 worth of goods from ABC ,and draws a promissory note from a lacal bank.4. ABC buys a machine for $20,000,and pays the bill in cash.5. ABC paid the telephone bill for $700 in cash.6. ABC paid $3,800 on the accounts payable.7. ABC determine the month depreciation of the manufactory bulding for $5,000.8. ABC purchasese materials of $5,000 on account.9. ABC sells some goods to a client and receives a check from the customer for $ 2,000 for the goods provided.可作为会计专业《财会专业英语》期末考试用10.ABC issues a 9%-5，$100,000 bond at its face amount. The bond is dated January 1, 2022年and requires interest payments until the bond principal at the end of 5 years. (1) Entry to bonds issued;(2) Entry to record the accrual interest for each year; (3) 2022年the company repays the principal plus interest.《财会专业英语》期末试卷答卷I.Put the following into corresponding groups. (15 points)II. Please find the best answers to the following questions.(25 Points)III. Translate the following sentences into Chinese.(10 points) 1. 2. 3. 4.可作为会计专业《财会专业英语》期末考试用5.IV. （10points）Bank ReconciliationV. Put the correct answer into the blanks.(6points), . 3. Using straight-line depreciation,-VI. Translate The Following Terms Into Chinese . (10 points).1. 2. 3. 4. 5. 6. 7. 8. 9. 10.VII. The following is transactions of ABC company.please make entries.(24 poins)可作为会计专业《财会专业英语》期末考试用《财会专业英语》答案I.Put the following into corresponding groups. (15 points)II. Please find the best answers to the following questions.(25 Points)III. Translate the following sentences into Chinese.(10 points) （略）IV. （10points）Bank ReconciliationV. Put the correct answer into the blanks.(6points)可作为会计专业《财会专业英语》期末考试用,3. Using straight-line depreciation,VI. Translate The Following Terms Into Chinese . (10 points). （略）VII. The following is transactions of ABC company.please entries.(24 poins) （略）。
财务管理期末考试卷(英文)
Shanghai Institute of Foreign TradeFinal examination of corporate finance 2006.6（Paper A）Name : ____________________________Students Number: ___________________________Marks：__________________________Exam Rules:2.5 hours, no formulas, references, or other mechanical devices except non-programmable calculators can be used. Show all your work, all the formulas. Marks will only be assigned for problems for which complete methodology, formulas, and the process is shown. Peeking, copying or duplicating others' work will be considered as "cheating" and such students will be asked to leave the examination room immediately.True or false (1 mark each for problems from 1 to 20)1. In estimating the market value of a bond, the coupon rate should be used as the discount rate.2. The yield to maturity is equal to the interest payment of a bond..3.When the interest rate on a bond and its yield to maturity are equal, the bond will trade at parvalue..4.Retained earnings represent an internal source of funds that is raised without the payment ofinterest, or cost to the firm’s shareholders.5.If you expect interest rates to go up, you should buy a long-term bond now.6.Strip bonds are sold at face value.7.When interest rates rise, bond refunding becomes quite popular.8.The longer the maturity of a bond, the greater the impact on price to changes in market rates.9.V aluation of a common stock with no dividend growth potential is treated in the same manneras preferred stock.10.Firms with great potential tend to trade at low P/E ratios.11.The cost of new common stock is greater than the cost of outstanding common stock..12.The cost of retained earnings is equal to the required rate of return on a firm's commonstock..13.The calculation of the cost of capital depends upon historical costs of funds.14.Generally, the higher the coefficient of variation a project has, the higher the discountrate it should be assigned.15.Projects that are totally uncorrelated provide some overall reduction in portfolio risk.16.A common stock with a beta of 1.0 is said to be of equal risk with the market.17.Risk is not only measured in terms of losses, but also in terms of variability.18.The efficient market hypothesis is generally concern with the impact of information on thebehavior of stock prices.19.A stock split involves a reduction in the firm's retained earnings account .20.Investors in high marginal tax brackets prefer dividends while investors in low marginal taxbrackets prefer to have corporate earnings reinvested.Choice (1 mark each for problems from 21 to 40)21. A ten year bond pays 8% annual interest ( paid semi-annually ). If similar bonds arecurrently yielding 6% annually, what is the market value of the bond ?A. $1,000.00B. $1148.77C. $1155.77D. none of the above22.The relationship between a bond's price and the yield to maturityA.changes at a constant level for each percentage change of yield to maturity.B.is an inverse relationshipC.is an linear relationshipD. a and b .23.For a firm paying 7% for new debt, the higher the firm's tax rateA.the higher the aftertax cost of debt.B.the lower the aftertax cost of debt.C.aftertax cost is unchanged.D.not enough information to judge.ing the constant dividend growth model for common stock, if P0 goes upA.the assumed cost goes up.B.the assumed cost goes down.C.the assumed cost remains unchanged..D.need further information.25.A firm is paying an annual dividend of $3.63 for its preferred stock which is selling for$62.70. There is a selling cost of $3.50. What is the aftertax cost of preferred stock if the firm's tax rate is 33% ?A. 2.02%B. 4.09%C. 5.79%D. 6.11%26.The coupon rate on an issue of debt is 12%. The yield to maturity on this issue is 14%.The corporate tax rate is 31%. What would be the approximate aftertax cost of debt fora new issue of bonds?A. 4.34%B. 3.72%C. 9.66%D. 8.28%27.A firm's stock is selling for $78. The next annual dividend is expected to be $2.70. Thegrowth rate is 9%. The flotation cost is $5.00. What is the cost of retained earnings?A. 13.09%B. 12.46%C. 12.75%D. none of the above28.The aftertax cost of debt will always belowA.the before-tax cost of debt.B.the weighted average cost of capital.C.the cost of equity.D.all the above.29.An investment project has a positive net present value. The internal rate of return isA.less than the cost of capitalB.greater than the cost of capitalC.equal to the cost of capitalD.indeterminate, it depends on the length of the project30.Cash flow can be said to equalA.income before amortization and taxes minus taxes.B.income before amortization and taxes plus taxes.C.income before amortization and taxes plus amortization.D.income aftertax minus amortization .31.As the cost of capital increasesA.fewer projects are accepted.B.more projects are accepted.C.project selection remains unchanged.D.none of the above.32.The payback method has several disadvantages, among them:A.payback fails to choose the optimum or most economic solution to a capital budgetingproblem.B.payback ignores cash inflows after the payback period.C. a and b .D.none of the above.33.The "efficient frontier" indicatesA.alternatives with neutral combinations of risk and return.B.alternatives with the highest returns.C.alternatives with the best combinations of risk and return.D.alternatives with no risk .34.The coefficient of variation ( V ) can be defined as theA.expected value multiplied by the standard deviation.B.standard deviation divided by the mean (expected value).C.mean (expected value ) divided by the standard deviation.D.standard deviation squared, divided by the expected value.35.Which investment has the least of risk ?A.Standard deviation = $500, Expected return = $ 5,000B.Standard deviation = $700, Expected return = $ 500C.Standard deviation = $900, Expected return = $ 800D.Standard deviation = $400, Expected return = $ 30036.Which of the following is not a criteria for an efficient market ?A.prices adjust rapidly to new information.rge dollar amounts of securities can be absorbed without price destabilization.C.each successive trade is made at a price close to the previous trade.puterized handling of transactions.37.The efficient market hypothesis has several forms. The weak form states thatA.past price date is unrelated to future prices.B.prices reflected all public information.C.all information both public and private is immediately reflected in share prices.D.none of the above38.In an efficient marketA.All financial transactions have an NPV equal to zero.B.The investor does not receive abnormal returns consistently.C.The investor is compensated properly for risk borne.D.All the above are correct.39.A firm with excess cash and few investment alternatives might logicallyA.declare a stock dividend.B.split its stock two-for-one.C.repurchase some of its own shares.D.choose to issue preferred stock.40.A stock dividend willA.increase the value of a share of stock.B.decrease the common stock account.C.decrease the retained earnings account.D.none of the above.Problems41.Diaz Camera Company is considering two investments, both of which cost $10,000. Thecash flows are as follows:Y ear Project A Project B?1 $6,000 $5,0002 4,000 3,0003 3,000 8,000a.Which of the two projects should be chosen based on the payback period? (4 marks )b.Which of the two projects should be chosen based on the net present value method?Assume a cost of capital of 10 percent (4 marks )42.Simon calls his broker to inquiry about purchasing a bond of Disk Storage System. Hisbroker quotes a price of $1,180. Simon is concern that the bond might be overpriced based on the facts involved. The $1,000 par valve bond pays 14 percent annual interest payablesemiannually, and it has 25 years remaining until maturity. The current yield to maturity on similar bonds is 12 percent. Compute the new price of the bond and comment on whether you think it is overpriced in the marketplace? ( 6 marks )43.Given the follow information, calculate the weighted average cost of capital for Glamour GirlCosmetics. Line up the calculations ( K d , K p ,K e W ACC ) in the order shown in the following . ( 10 marks )Percent of capital structure:Debt 40%Preferred stock 10%Common equity 50%Additional informationBond coupon rate 12%Bond yield 10%Dividend, expected common $3.00Dividend, preferred $9.20Price, common $60.00Price, preferred $99.00Flotation cost, preferred $4.00Corporate growth rate 9%Corporate tax rate 30%44.Skyline Corp. will invest $130,000 in a project that will not begin to produce returns untilafter the third year. From the end of the 3rd year until the end of the 12th year (10 periods), the annual cash flow will be $34,000. If the cost of capital is 12 percent, should this project be undertaken ? (6 marks)45.The Taylor Corporation is using a machine purchased two years before. The machine has abook value of 66,000 and a current market value of $40,000. The asset is in the Class 8 CCA pool (20 percent CCA rate). It will have no salvage value after 5 years and the tax rate is 40 percent. Jacqueline Elliot, the chief Financial Officer of Taylor is considering replacing this machine with a new model that costs $70,000. The new machine will cut operating costs by $10,000 per year for 5 years. Taylor’s cost of ca pital is 8 percent. Should the firm replace the asset? (Use the NPV methodology to solve this problem) ( 8 marks )46.The Presley Corporation is about to go public. It currently has a aftertax earnings of $7.5million, and 2.5 million shares are owned by the present stockholders (the Presley family).The new public issue will represent 600,000 new shares. The new shares will be priced the public at $20.00 per share, with a 5 percent spread on the offering price. There will also be $200,000 in out-of-pocket costs to the corporation.pute the net proceeds to the Presley Corporation. (3 marks )pute the earnings per share immediately before the stock issue. (3 marks )pute the earnings per share immediately after the stock issue. (3 marks)d.Determine what rate of rate of return must be earned on the net proceeds to the corporationso that there will not be a dilution in earnings per share during the year of going public. (4 marks)e.Determine what rate of rate of return must be earned on the net proceeds to the corporationso that there will be a 5 percent increase in earnings per share during the year of going public. (4 marks)47.The shares of Dyer Drilling Co. sell for $60. The firm has a P/E ratio 15 and 40 percent ofearnings are paid out in dividends. What is the dividend yield? (5 marks)。
财务管理期末考试卷(英文)
Shanghai Institute of Foreign TradeFinal examination of corporate finance 2006.6（Paper A）Name : ____________________________Students Number: ___________________________Marks：__________________________Exam Rules:2.5 hours, no formulas, references, or other mechanical devices except non-programmable calculators can be used. Show all your work, all the formulas. Marks will only be assigned for problems for which complete methodology, formulas, and the process is shown. Peeking, copying or duplicating others' work will be considered as "cheating" and such students will be asked to leave the examination room immediately.True or false (1 mark each for problems from 1 to 20)1. In estimating the market value of a bond, the coupon rate should be used as the discount rate.2. The yield to maturity is equal to the interest payment of a bond..3.When the interest rate on a bond and its yield to maturity are equal, the bond will trade at parvalue..4.Retained earnings represent an internal source of funds that is raised without the payment ofinterest, or cost to the firm’s shareholders.5.If you expect interest rates to go up, you should buy a long-term bond now.6.Strip bonds are sold at face value.7.When interest rates rise, bond refunding becomes quite popular.8.The longer the maturity of a bond, the greater the impact on price to changes in market rates.9.Valuation of a common stock with no dividend growth potential is treated in the same manneras preferred stock.10.Firms with great potential tend to trade at low P/E ratios.11.The cost of new common stock is greater than the cost of outstanding common stock..12.The cost of retained earnings is equal to the required rate of return on a firm's commonstock..13.The calculation of the cost of capital depends upon historical costs of funds.14.Generally, the higher the coefficient of variation a project has, the higher the discountrate it should be assigned.15.Projects that are totally uncorrelated provide some overall reduction in portfolio risk.16. A common stock with a beta of 1.0 is said to be of equal risk with the market.17.Risk is not only measured in terms of losses, but also in terms of variability.18.The efficient market hypothesis is generally concern with the impact of information on thebehavior of stock prices.19. A stock split involves a reduction in the firm's retained earnings account .20.Investors in high marginal tax brackets prefer dividends while investors in low marginal taxbrackets prefer to have corporate earnings reinvested.Choice (1 mark each for problems from 21 to 40)21. A ten year bond pays 8% annual interest ( paid semi-annually ). If similar bonds arecurrently yielding 6% annually, what is the market value of the bond ?A. $1,000.00B. $1148.77C. $1155.77D. none of the above22.The relationship between a bond's price and the yield to maturityA.changes at a constant level for each percentage change of yield to maturity.B.is an inverse relationshipC.is an linear relationshipD. a and b .23.For a firm paying 7% for new debt, the higher the firm's tax rateA.the higher the aftertax cost of debt.B.the lower the aftertax cost of debt.C.aftertax cost is unchanged.D.not enough information to judge.ing the constant dividend growth model for common stock, if P0 goes upA.the assumed cost goes up.B.the assumed cost goes down.C.the assumed cost remains unchanged..D.need further information.25.A firm is paying an annual dividend of $3.63 for its preferred stock which is selling for$62.70. There is a selling cost of $3.50. What is the aftertax cost of preferred stock if the firm's tax rate is 33% ?A. 2.02%B. 4.09%C. 5.79%D. 6.11%26.The coupon rate on an issue of debt is 12%. The yield to maturity on this issue is 14%.The corporate tax rate is 31%. What would be the approximate aftertax cost of debt fora new issue of bonds?A. 4.34%B. 3.72%C. 9.66%D. 8.28%27.A firm's stock is selling for $78. The next annual dividend is expected to be $2.70. Thegrowth rate is 9%. The flotation cost is $5.00. What is the cost of retained earnings?A. 13.09%B. 12.46%C. 12.75%D. none of the above28.The aftertax cost of debt will always belowA.the before-tax cost of debt.B.the weighted average cost of capital.C.the cost of equity.D.all the above.29.An investment project has a positive net present value. The internal rate of return isA.less than the cost of capitalB.greater than the cost of capitalC.equal to the cost of capitalD.indeterminate, it depends on the length of the project30.Cash flow can be said to equalA.income before amortization and taxes minus taxes.B.income before amortization and taxes plus taxes.C.income before amortization and taxes plus amortization.D.income aftertax minus amortization .31.As the cost of capital increasesA.fewer projects are accepted.B.more projects are accepted.C.project selection remains unchanged.D.none of the above.32.The payback method has several disadvantages, among them:A.payback fails to choose the optimum or most economic solution to a capital budgetingproblem.B.payback ignores cash inflows after the payback period.C. a and b .D.none of the above.33.The "efficient frontier" indicatesA.alternatives with neutral combinations of risk and return.B.alternatives with the highest returns.C.alternatives with the best combinations of risk and return.D.alternatives with no risk .34.The coefficient of variation ( V ) can be defined as theA.expected value multiplied by the standard deviation.B.standard deviation divided by the mean (expected value).C.mean (expected value ) divided by the standard deviation.D.standard deviation squared, divided by the expected value.35.Which investment has the least of risk ?A.Standard deviation = $500, Expected return = $ 5,000B.Standard deviation = $700, Expected return = $ 500C.Standard deviation = $900, Expected return = $ 800D.Standard deviation = $400, Expected return = $ 30036.Which of the following is not a criteria for an efficient market ?A.prices adjust rapidly to new information.rge dollar amounts of securities can be absorbed without price destabilization.C.each successive trade is made at a price close to the previous trade.puterized handling of transactions.37.The efficient market hypothesis has several forms. The weak form states thatA.past price date is unrelated to future prices.B.prices reflected all public information.C.all information both public and private is immediately reflected in share prices.D.none of the above38.In an efficient marketA.All financial transactions have an NPV equal to zero.B.The investor does not receive abnormal returns consistently.C.The investor is compensated properly for risk borne.D.All the above are correct.39.A firm with excess cash and few investment alternatives might logicallyA.declare a stock dividend.B.split its stock two-for-one.C.repurchase some of its own shares.D.choose to issue preferred stock.40.A stock dividend willA.increase the value of a share of stock.B.decrease the common stock account.C.decrease the retained earnings account.D.none of the above.Problems41.Diaz Camera Company is considering two investments, both of which cost $10,000. Thecash flows are as follows:Year Project A Project B?1 $6,000 $5,0002 4,000 3,0003 3,000 8,000a.Which of the two projects should be chosen based on the payback period? (4 marks )b.Which of the two projects should be chosen based on the net present value method?Assume a cost of capital of 10 percent (4 marks )42.Simon calls his broker to inquiry about purchasing a bond of Disk Storage System. Hisbroker quotes a price of $1,180. Simon is concern that the bond might be overpriced based on the facts involved. The $1,000 par valve bond pays 14 percent annual interest payablesemiannually, and it has 25 years remaining until maturity. The current yield to maturity on similar bonds is 12 percent. Compute the new price of the bond and comment on whether you think it is overpriced in the marketplace? ( 6 marks )43.Given the follow information, calculate the weighted average cost of capital for Glamour GirlCosmetics. Line up the calculations ( K d , K p ,K e WACC ) in the order shown in the following . ( 10 marks )Percent of capital structure:Debt 40%Preferred stock 10%Common equity 50%Additional informationBond coupon rate 12%Bond yield 10%Dividend, expected common $3.00Dividend, preferred $9.20Price, common $60.00Price, preferred $99.00Flotation cost, preferred $4.00Corporate growth rate 9%Corporate tax rate 30%44.Skyline Corp. will invest $130,000 in a project that will not begin to produce returns untilafter the third year. From the end of the 3rd year until the end of the 12th year (10 periods), the annual cash flow will be $34,000. If the cost of capital is 12 percent, should this project be undertaken ? (6 marks)45.The Taylor Corporation is using a machine purchased two years before. The machine has abook value of 66,000 and a current market value of $40,000. The asset is in the Class 8 CCA pool (20 percent CCA rate). It will have no salvage value after 5 years and the tax rate is 40 percent. Jacqueline Elliot, the chief Financial Officer of Taylor is considering replacing this machine with a new model that costs $70,000. The new machine will cut operating costs by $10,000 per year for 5 years. Taylor’s cost of ca pital is 8 percent. Should the firm replace the asset? (Use the NPV methodology to solve this problem) ( 8 marks )46.The Presley Corporation is about to go public. It currently has a aftertax earnings of $7.5million, and 2.5 million shares are owned by the present stockholders (the Presley family).The new public issue will represent 600,000 new shares. The new shares will be priced the public at $20.00 per share, with a 5 percent spread on the offering price. There will also be $200,000 in out-of-pocket costs to the corporation.pute the net proceeds to the Presley Corporation. (3 marks )pute the earnings per share immediately before the stock issue. (3 marks )pute the earnings per share immediately after the stock issue. (3 marks)d.Determine what rate of rate of return must be earned on the net proceeds to the corporationso that there will not be a dilution in earnings per share during the year of going public. (4 marks)e.Determine what rate of rate of return must be earned on the net proceeds to the corporationso that there will be a 5 percent increase in earnings per share during the year of going public. (4 marks)47.The shares of Dyer Drilling Co. sell for $60. The firm has a P/E ratio 15 and 40 percent ofearnings are paid out in dividends. What is the dividend yield? (5 marks)48.。
财务管理试卷及答案(英文版)
Examination Problems for Fundamentals of Financial Management 2004-2005 (Paper B)overall goal in mind.A. Financial managementB. Profit maximizationC. Agency theoryD. Social responsibility2.A major disadvantage of the corporate form of organization is the ( ).A. double taxation of dividendsB. inability of the firm to raise large sums of additional capitalC. limited liability of shareholdersD. limited life of the corporate form.3. Interest paid (earned) on both the original principal borrowed (lent) and previous interest earned is often referred to as ( ).A. present valueB. simple interestC. future valueD. compound interest4. 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 dividend payout ratio.C. The market is undervaluing the stock.D. The market is overvaluing the stock.5. 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 currently selling for 276, what is the difference (overvaluation) between its intrinsic and market value (rounded to the nearest whole dollar)?A. approximately 26B. approximately 10C. approximately 6D. approximately 16. Felton Farm Supplies, Inc., has an 8 percent return on total assets of 300,000 and a net profit margin of 5 percent. What are its sales?A. 3,750,000B. 480,000C. 300,000D. 1,500,0007. A company can improve (lower) its debt-to-total asset ratio by doing which of the following?A. Borrow more.B. Shift short-term to long-term debt.C. Shift long-term to short-term debt.D. isssue common stock.8. The DuPont Approach breaks down the earning power on shareholders' book value (ROE) as follows: ROE = ( ).A. Net profit margin × Total asset turnover × Equity multiplierB. Total asset turnover × Gross profit margin × Debt ratioC. Total asset turnover × Net profit marginD. Total asset turnover × Gross profit margin × Equity multiplier9. Which of the following items concerns financing decision? ( )A. sales forecastingB. bond issuingC. receivables collectionD. investment project selection10. Which of the following items is the function of a treasurer? ( )A. cost accountingB. internal controlC. capital budgetingD. general ledger11. For financial instruments, ( ) is judged in relation to the ability to sell a significant volume of securities in a short period of time without significant price concession.A. maturityB. marketabilityC. defaultD. inflation12. ( ) is the value at some future time of a present amount of money, or a series of payments, evaluated at a given interest rate.A. future valueB. present valueC. intrinsic valueD. market value13.Ellesmere Corporation issues 1 million $1 par value bonds. The stated interest rate is 6% per year and the interest is paid twice a year. What is the real interest rate of the bond? ( )A. 6%B.3%C. 12%D. (1+6%/2)2-114. Assume that dividends of a common stock will be maintained at D forever, and the required return of the stockholder is r, the par value of the stock is m, the value of the stock is ( )A. mB. m+DC. m+D/rD. D/r15. Which of the following items has the most risk? ( )A. treasury billB. corporate bondC. preferred stockD. common stock16. ( ) equals the gross profit divided by net sales of a firm.A. gross profit marginB. net profit marginC. return on investmentD. return on equity17. ( A ) is the ratios that measure a firm’s ability to meet short-term obligationsA. liquidity ratiosB. leverage ratios c. coverage ratios D. activity ratios18. ( A ) is the result of Net Profi t Margin × total asset turnover × (total assets/shareholders’ equity)A. Return on equityB. return on investmentC. current ratioD. quick ratio19. Government tax law adjustment is ( A ) to a firm.A. general economic riskB. inflation and deflation riskC. firm-specific riskD. international risk20 ( A ) equals the gross profit divided by net sales of a firm.A. gross profit marginB. net profit marginC. return on investmentD. return on equity II. Statement judgement (10 Points) (Please write your answer in the following1. Until around the first half of the 1900s, financial managers primarily raised funds and managed their firm’s cash positions. ( )2. In general, the higher the marketability of a security, the greater the yield necessary to attract investors ( )3. Discount Rate is the interest rate used to convert future values to present values. ( )4. The expected return of a portfolio is simply a weighted average of the expected return of the securities comprising that portfolio ( )5. The type of analysis varies according to the specific interests of the party involved ( )6. In a sole proprietorship, the owner is personally responsible for all financial obligations of thefirm. ( )7. When a stock goes "ex-rights, " its market price theoretically declines. ( )8. The market price of a particular bond is much greater today than it was yesterday. The calculated yield to maturity (YTM) based on today's market price would, therefore, be greater than the calculated YTM based on yesterday's market price. ( )9. A short average collection period assures us that accounts receivable are being efficiently managed. ( )10. Simple interest is interest that is paid on only the original amount borrowed (lent) ( )III. Questions (10 points) (Please write your answer on the answer paper)1. The method of depreciation does not alter the total amount deducted from income during the life of an asset. What does it alter and why is that important? (5 )2. What is primary and secondary market? (5)IV. Problems (60 Points) (Please write your answer on the answer paper)1. you need to have $100000 at the end of 10 years. To accumulate this sum, you have decided to save a certain amount at the end of each next 10 years and deposit it in the bank. The bank pays 8% interest compounded annually for long-term deposit. How much will you have to save each year? (PVIF(8%,10)=0.463, PVIFA(8%,10)=0.671, FVIF(8%,10)=2.159, FVIFA(8%,10)=14.487)2.Just today, Bird Seed Company’s common stock paid a $1.50 annual dividend per share and hada closing price of $24. Assume that the market’s required return for this investment is 12% and that dividends are expected to grow at a constant rate forever.a. calculate the implied growth rate in dividends.b. what is expected dividend yield and capital gains yield?3. The data for various companies in the same industry are as follows: (amounts are in millionDetermine the total asset turnover, net profit margin, and write your computation result in the table.4. You expect to deposit the following cash flows at the end of years 1 through 5, 1,000; 4,000; 9,000; 5,000; and 2,000 respectively. Alternatively, you could deposit a single amount today at the beginning of year 1 (end of year 0). How much is the single deposit needed to be today if you can earn 10% compounded annually? (10/ )5.Stock A has an expected growth rate of 16% for the first 3 years and 8% thereafter. Each share of stock just received an annual 3.24 dividend per share. The appropriate discount rate is 15%.What is the value of the common stock under this scenario? (10/ )6. The following common stocks are available for investment:COMMON STOCK (TICKER SYMBOL) BETAYunnan Garden Supply, Inc. (YUWHO) .80Bird Nest Soups Company (SLURP) .60Oldies Records, Ltd. (SHABOOM) .90a. If you invest 20 percent of your funds in each of the first four securities, and 10 percent in each of the last two, what is the beta of your portfolio? (5/ )b. If the risk-free rate is 8 percent and the expected return on the market portfolio is 14 percent, what will be the portfolio's expected return? (5/ )Solutions (B)1. Depreciation changes the timing of tax payments. The longer these payments can be delayed, the better off the business is.2. A primary market is a “new issues〞market. Here, funds raised through the sale of new securities flow from ultimate savers to the ultimate investors in real assetsIn a secondary market, existing securities are bought and sold. Transactions in these already existing securities do not provide additional funds to finance capital investmentIV. Problems (60 Points) (Please write your answer on the answer paper)1. Answer:100000=A FVIF(8%,10)=14.487A A=100000/14.487=69032. Answer:1. (10/ ) Many different methods to lead to a correct solution.PV of this mixed flows problem = 1,000(PVIF10%,1) + 4,000(PVIF10%,2) + 9,000(PVIF10%,3) + 5,000(PVIF10%,4) + 2,000(PVIF10%,5) = 15,633.62.5. (1) Determine the annual dividends.D0 = $3.24 (this has been paid already)D1 = D0(1+g1)1 = $3.24(1.16)1D2 = D0(1+g1)2 = $3.24(1.16)2D3 = D0(1+g1)3 = $3.24(1.16)3D4 = D3(1+g2)1 = $5.06(1.08)1P3 = 5.46 / (.15 - .08) = $78 [CG Model](2) Determine the PV of cash flows.PV(D1) = D1(PVIF15%, 1PV(D2) = D2(PVIF15%, 2PV(D3) = D3(PVIF15%, 3PV(P3) = P3(PVIF15%, 3(3) Calculate the intrinsic value by summing all the cash flow present values.6. a) (5/) The beta of a portfolio is simply a weighted average of the betas of the individual securities that make up the portfolio.TICKER SYMBOL BETA PROPORTION WEIGHTED BETANBS 1.40 .2 .280YUWHO .80 .2 .160SLURP .60 .2 .120W ACHO 1.80 .2 .360BURP 1.05 .1 .105SHABOOM .90 .1 .090The portfolio beta is 1.115.b) (5/ ) Expected portfolio return=.08 + (.14 - .08)(1.115)= .08 + .0669 = .1469 or 14.69%。
中山大学管理学院《财务管理》 期末考试试题(A)
中山大学管理学院《财务管理》期末考试试题（A）一、填空题（每空1分，共10分）１．债券的收益率与债券到期期限之间的关系，称为利率的（）。
其中有一解释理论认为，长期债券的利率应该高于短期债券的利率，原因在于短期证券的流动性较高，该理论被称为（）。
２．资本结构中的权衡理论在考虑负债的利益的同时，也考虑由此带来的两项重要成本，它们分别是（）、（）。
３．（）是一种选择权，其持有者拥有在给定时间范围内以固定价格（执行价格）买入已确定数量的股票的权利。
４．在一定时期内每期相等金额的收付款项，叫做（）。
5．在大多数资本预算决策中，重点评价的对象是（），而不是会计报告的利润。
6．企业实际产销量超出保本点产销量越多，经营杠杆系数就越（）。
7．你向银行借了100000元，你对全部借款额支付了8%的利息的同时又被要求20%的补偿性余额，你借款的实际利率为（）。
8．根据股利所得税率与资本利得税率的差异来解释股利支付与公司价值关系的理论称为（）。
二、单项选择题（每小题1分，共20分）：1．总资产报酬率()利息率的情况下，借入资金越多，企业自有资金收益率越低。
A.高于；B.低于；C.等于；D.不确定2．只要企业存在固定成本，那么经营杠杆系数必（）。
A.恒大于1；B.与销售量成反比；C.与固定成本成反比；D.与风险成反比3.某企业向银行借款1000万元，年利率6％，半年复利一次。
该项借款的实际利率是（）。
A、6.13％B、12％C、3％D、6.09％4．对投资项目内含报酬率的大小不产生影响的因素是（）。
A、投资项目的原始投资B、投资项目的现金流量C、投资项目的项目计算期D、投资项目的设定折现率5.通常情况下，企业持有现金的机会成本（）。
A、与现金余额成反比B、与有价证券的利息率成正比C、与持有时间成反比D、是决策的无关成本6．可以用于衡量长期偿债能力的指标有（）A.流动比率；B。
速动比率；C。
应收账款周转率；D。
利息保障倍数。
中山大学财务管理期末试卷(英语)2
FINANCIAL MANAGEMENT EXAMINATION(2)Time: 2 Hours Marks:A. Define and briefly explain each of the following terms (10 points)1. Free Cash Flow2. Market Risk3. Internal Rate of Raturn4. CAPM5. BreakevenAnalysisB. Multiple Choice Questions(40 points)1.Businesses can be organized asA) sole proprietorshipsB) partnershipsC) corporationsD) any of the above2.Limited liability is an important feature of:A) Sole proprietorshipsB) PartnershipsC) CorporationsD) All of the above3.In finance, "shortterm"meansA) less than three monthsB) less than six monthsC) less than one yearD) less than five years4.Conflicts of interest between shareholders and managers of a firm result in:A) PrincipalagentproblemB) Increased agency costsC) Both A and BD) None of the above5.The financial goal of a corporation is to:A) Maximize salesB) Maximize profitsC) Maximize the value of the firm for the shareholdersD) Maximize managers' benefits6.If the present value of $480 expected to be received one year from today is $400,what is the discount rate?A) 10%B) 20%C) 30%D) None of the above7.If the present value of a cash flow generated by an initial investment of $100,000 is$120,000, what is the NPV of the project?A) $120,000B) $20,000C) $100,000D) None of the above8.There are two reasons for discounting future cash flow. They are:A) A dollar today is worth more than a dollar tomorrow (for positive interestrates)B) A safe dollar is worth more than a risky oneC) The value of a dollar is changing all the timeD) A and B above9.The financial goal of a corporation is to:A) Minimize stockholder wealthB) Maximize profitC) Maximize value of the corporation to the stockholdersD) None of the above10.The variance or standard deviation is a measure of:A) Total riskB) Unique riskC) Market riskD) None of the above11.If the present value of the cash flow X is $200, and the present value cash flow Y$150, than the present value of the combined cash flow is:A) $200B) $150C) $50D) $35012.What is the present value of $10,000 per year perpetuity at an interest rate of 5%?A) $10,000B) $100,000C) $200,000D) None of the above13.An annuity is defined asA) Equal cash flows at equal intervals of time foreverB) Equal cash flows at equal intervals of time for a specificperiodC) Unequal cash flows at equal intervals of time foreverD) None of the above14. If the present annuity factor is 3.89, what is the present value annuity factor for anequivalent annuity due if the interest rate is 9%?A) 3.57B) 4.24C) 3.89D) None of the above.15.The value of a common stock today depends on:A) Number of shares outstanding and the number ofshareholdersB) The Wall Street analystsC) The expected future dividends and the discount rateD) Present value of the future earnings per share16. Super Computer Company's stock is selling for $100 per share today. It isexpected that this stock will pay a dividend of 5 dollars per share, and then besold for $120 per share at the end of one year. Calculate the expected rate ofreturn for the shareholders.A) 20%B) 25%C) 10%D) 15%17.Mcom Co. is expected to pay a dividend of $4 per share at the end of year one andthe dividends are expected to grow at a constant rate of 4% forever. If thecurrent price of the stock is $25 per share calculated the required rate of returnor the market capitalization rate for the firms' stock.A) 4%B) 16%C) 20%D) None of the above.18.Which of the following investment rules does not use the time value of the moneyconcept?A) The payback periodB) Internal rate of returnC) Net present valueD) All of the above use the time value concept19.The net present value of a project depends upon:A) forecasted cash flows and opportunity cost of capitalB) manager's tastes and preferencesC) company's choice of accounting methodD) all of the above20.The main advantage of the payback rule is:A) Adjustment for uncertainty of early cash flowsB) It is simple to useC) Does not discount cash flowsD) Both A and CC. True/False Questions(20 points)T F 1.One distinctive feature of a corporation is that there is no separation ofownership and control.T F 2.In a sole proprietorship, the owner is also the manager, and hence, agencycosts are at a minimum.T F 3.The discount rate, hurdle rate or opportunity cost of capital all mean thesame.T F 4.The rate of return on a perpetuity is equal to the cash flow divided by theprice.T F 5.The relationship between nominal interest rate and real interest rate is givenby:1 + rnominal = (1 + rreal)(1+inflation rate)T F pound interest assumes that you are reinvesting the interest payments atthe rate of return.T F 7.At each point in time, all securities in an equivalentriskclass are priced tooffer the same expected return.T F 8.The payback rule gives equal weight to all cash flows before the paybackdate and zero weight to subsequent cash flows.T F 9.The IRR rule states that firms should accept any project offering an internalrate of return in excess of the cost of capital.T F 10.Do not forget to include interest and dividend payments when calculating theproject's cash flow.T F 11.Depreciation acts as a tax shield in reducing the taxes.T F 12.Risk premium is the difference between the security return and the Treasurybill return.T F 13.Diversification reduces risk because prices of different securities do notmove exactly together.T F 14.Beta of a welldiversifiedportfolio is equal to the value weighted averagebeta of the securities included in the portfolio.T F 15.Investors are mainly concerned with those risks that can be eliminatedthrough diversification.T F 16.The company cost of capital is the correct discount rate for any projectundertaken by the company.T F 17.Risky projects can be evaluated by discounting certaintyequivalent cashflows at the riskfreeinterest rate.T F 18.Risky projects can be evaluated by discounting the expected cash flows at ariskadjusteddiscount rate.T F 19.Firms that break even on an accounting basis are really losing theopportunity cost of capital on their investments.T F 20.Projects with high fixed costs have higher breakevenpoints.D. Answer the following questions (30 points)1. Respond to the following comment: “It's all very well telling companies tomaximize net present value, but ‘net present value’is just an abstract notion. What Itell my managers is that profits are what matters and It's profits that we're going tomaximize.”2. What is the net present value rule? What is the rate of return rule? Do the tworules give the same answer?3. “Diversification reduces risk. Therefore corporations ought to favor capitalinvestments with low correlations with their existing lines of business.”True or false?Why?4. A common stock will pay a cash dividend of $4 next year. After that, thedividends are expected to increase indefinitely at 4 percent per year. If the discountrate is 14 percent, what is the PV of the stream ofdividend payment?5. A portfolio contains equal investments in 10 stocks. Four have a beta of 1.0;threehave a beta of 1.2;the remainder has a beta of 1.4. What is the portfolio beta?6. Fama and French have proposed a threefactormodel for expected returns. Whatare the three factors? 我始终相信，时光会证明每天不管多晚多累都坚持在自己脸上涂抹半小时是正确的！。
2020-2021某大学《财务管理》期末课程考试试卷合集(含答案) 英文
2020-2021《财务管理》期末课程考试试卷B2日期： 时间：120分钟 形式：闭卷 适用专业：答案一律写到答题纸上 计算结果保留两位小数一、单项选择题（本题共10小题，每小题2分。
共计20分）1．某企业急需资金100万元，现决定向银行贷款。
银行要求的补偿性余额为20％，企业应贷款（ ），才能满足实际的资金需求。
A ．120万元B ．125万元C ．130万元D ．135万元2．某公司经营杠杆系数为2，预计息税前盈余将增长20％，在其他条件不变的情况下，销售量将增长（ ）。
A ．15％B ．10％C ．25％D ．5％ 3．权益净利率=销售净利率×总资产周转率×（ ）。
A ．资产负债率B.股东权益与债务的比率C ．1减去资产负债率的差的倒数D ．以上都不对 4．某公司发行总面额为500万元的10年期债券，票面利率12％，发行费用率为5％，公司所得税率为33％。
该债券采用折价发行，发行价格为400万元，该债券的资金成本为（）。
A ．8.46％B ．7.05％C ．10.58％D ．9.38％ 5．通过投资多样化可完全分散的风险是（ ）。
A ．系统风险B ．总风险C ．非系统风险D ．市场风险6．某种股票当前的市场价格是40元，过去一期的每股股利是2元，预期的股利增长率是5％，则其市场决定的预期收益率为（ ）。
A ．5％B ．5.5％C ．10％D ．10.25％ 7．下列权利中，不属于普通股股东权利的是（ ）。
A ．公司管理权B ．分享盈余权C ．优先认股权D ．优先分配剩余财产权 8．某企业购买W 公司材料，W 公司提供的信用条件为：“2/10，n/30”，该企业放弃现金折扣的机会成本为（ ）。
A ． 2％B ． 34.28％C ． 36.73％D ． 36％9．甲公司决定以融资租赁方式租入固定资产，租赁期为6年，每年年末付租金16万元。
市场利率为10％，则该租金的现值为（ ）。
中山大学 英语期末考试
07-08学年第一学期二级期末考试试题设计方案第二册期末考试试题：Part I. Writing权重15分; 时间30分钟；提前在第16周课堂进行。
Part II. Fast ReadingD irections: In this part, you will have 15 minutes to go over a passagequickly and answer the questions after it. Mark on the Answer Sheet witha pencilA if the statement agrees with the information given in the passage;B if the statement does not agree with the information given in the passage;C if the meaning of the statement is not given in the passage比重10分；时间15分钟；一篇长约650词的带有标题和小标题的文章，随后有10个statements, 要求学生根据文章内容判断其为Y (Yes), N (No) 或NG (Not Given), 另外3题为3个需学生完成的句子，要求学生为每个句子填入3-5个单词，使句子完整并符合文章内容。
设计题目时, 在指令中说明学生答题时用A代替Y, 用B代替N, 用C代替NG.。
Part III. Listening Comprehension 30%权重30分；时间40分钟；Section A Short Dialogues (10%)Directions: In this section, you will hear 10 short conversations. At the end of eachconversation, a question will be asked about what was said. Both the conversationand the question will be spoken only once. After each question there will be a pause.During the pause, you must read the four choices marked A, B, C, and D, and decidewhich is the best answer. Then mark the corresponding letter on the Answer Sheet with asingle line through the center.Section B Long Conversations (6%)Directions: In this section, you will hear 2 long conversations. At the end of eachconversation, some question will be asked about what was said. Both theconversation and the questions will be spoken only once. After each question therewill be a pause. During the pause, you must read the four choices marked A, B, C, andD, and decide which one is the best answer. Then mark the corresponding letter on theAnswer Sheet with a single line through the center.(注：其中1个对话取自《听说教程》，另一个来自课外；6题占6分。
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FINANCIAL MANAGEMENT EXAMINATION(2)Time: 2 Hours Marks:A. Define and briefly explain each of the following terms (10 points)1. Free Cash Flow2. Market Risk3. Internal Rate of Raturn4. CAPM5. Breakeven AnalysisB. Multiple Choice Questions(40 points)1.Businesses can be organized asA) sole proprietorshipsB) partnershipsC) corporationsD) any of the above2.Limited liability is an important feature of:A) Sole proprietorshipsB) PartnershipsC) CorporationsD) All of the above3.In finance, "shortterm" meansA) less than three monthsB) less than six monthsC) less than one yearD) less than five years4.Conflicts of interest between shareholders and managers ofa firm result in:A) Principalagent problemB) Increased agency costsC) Both A and BD) None of the above5.The financial goal of a corporation is to:A) Maximize salesB) Maximize profitsC) Maximize the value of the firm for the shareholdersD) Maximize managers' benefits6.If the present value of $480 expected to be received one year from today is $400,what is the discount rate?A) 10%B) 20%C) 30%D) None of the above7.If the present value of a cash flow generated by an initial investment of $100,000 is$120,000, what is the NPV of the project?A) $120,000B) $20,000C) $100,000D) None of the above8.There are two reasons for discounting future cash flow. They are:A) A dollar today is worth more than a dollar tomorrow (for positive interest rates)B) A safe dollar is worth more than a risky oneC) The value of a dollar is changing all the timeD) A and B above9.The financial goal of a corporation is to:A) Minimize stockholder wealthB) Maximize profitC) Maximize value of the corporation to the stockholdersD) None of the above10.The variance or standard deviation is a measure of:A) Total riskB) Unique riskC) Market riskD) None of the above11.If the present value of the cash flow X is $200, and the present value cash flow Y $150, than the present value of thecombined cash flow is:A) $200B) $150C) $50D) $35012.What is the present value of $10,000 per year perpetuity at an interest rate of 5%?A) $10,000B) $100,000C) $200,000D) None of the above13.An annuity is defined asA) Equal cash flows at equal intervals of time foreverB) Equal cash flows at equal intervals of time for a specific periodC) Unequal cash flows at equal intervals of time foreverD) None of the above14. If the present annuity factor is 3.89, what is the present value annuity factor for anequivalent annuity due if the interest rate is 9%?A) 3.57B) 4.24C) 3.89D) None of the above.15.The value of a common stock today depends on:A) Number of shares outstanding and the number of shareholdersB) The Wall Street analystsC) The expected future dividends and the discount rateD) Present value of the future earnings per share16. Super Computer Company's stock is selling for $100 per share today. It is expected that this stock will pay a dividend of 5 dollars per share, and then be sold for $120 per share at the end of one year. Calculate the expected rate of return for the shareholders.A) 20%B) 25%C) 10%D) 15%17.Mcom Co. is expected to pay a dividend of $4 per share at the end of year one and the dividends are expected to grow at a constant rate of 4% forever. If the current price of the stock is $25 per share calculated the required rate of return or themarket capitalization rate for the firms' stock.A) 4%B) 16%C) 20%D) None of the above.18.Which of the following investment rules does not use the time value of the money concept?A) The payback periodB) Internal rate of returnC) Net present valueD) All of the above use the time value concept19.The net present value of a project depends upon:A) forecasted cash flows and opportunity cost of capitalB) manager's tastes and preferencesC) company's choice of accounting methodD) all of the above20.The main advantage of the payback rule is:A) Adjustment for uncertainty of early cash flowsB) It is simple to useC) Does not discount cash flowsD) Both A and CC. True/False Questions(20 points)T F 1.One distinctive feature of a corporation is that there is no separation of ownership and control.T F 2.In a sole proprietorship, the owner is also the manager, and hence, agencycosts are at a minimum.T F 3.The discount rate, hurdle rate or opportunity cost of capital all mean the same.T F 4.The rate of return on a perpetuity is equal to the cash flow divided by the price.T F 5.The relationship between nominal interest rate and real interest rate is given by: 1 + rnominal = (1 +rreal)(1+inflation rate)T F pound interest assumes that you are reinvesting the interest payments at the rate of return.T F 7.At each point in time, all securities in an equivalentrisk class are priced to offer the same expected return.T F 8.The payback rule gives equal weight to all cash flows before the payback date and zero weight to subsequent cash flows.T F 9.The IRR rule states that firms should accept anyproject offering an internal rate of return in excess of the cost of capital.T F 10.Do not forget to include interest and dividend payments when calculating the project's cash flow.T F 11.Depreciation acts as a tax shield in reducing the taxes.T F 12.Risk premium is the difference between the security return and the Treasury bill return.T F 13.Diversification reduces risk because prices of different securities do not move exactly together.T F 14.Beta of a welldiversified portfolio is equal to the value weighted average beta of the securities included in the portfolio.T F 15.Investors are mainly concerned with those risks that can be eliminated through diversification.T F 16.The company cost of capital is the correct discount rate for any project undertaken by the company.T F 17.Risky projects can be evaluated by discounting certainty equivalent cash flows at the riskfree interest rate. T F 18.Risky projects can be evaluated by discounting the expected cash flows at a riskadjusted discount rate.T F 19.Firms that break even on an accounting basis are really losing the opportunity cost of capital on their investments.T F 20.Projects with high fixed costs have higher breakeven points.D. Answer the following questions (30 points)1. Respond to the following comment: “It's all very well telling companies to maximize net present value, but ‘net present value’ is just an abstract notion. What I tell my managers is that profits are what matters and It's profits that we're going to maximize.”2. What is the net present value rule? What is the rate of return rule? Do the two rules give the same answer?3. “Diversification reduces risk. Therefore corporations ought to favor capital investments with low correlations with their existing lines of business.” True or false? Why?4. A common stock will pay a cash dividend of $4 next year. After that, the dividends are expected to increase indefinitely at 4 percent per year. If the discount rate is 14 percent, whatis the PV of the stream of dividend payment?5. A portfolio contains equal investments in 10 stocks. Four have a beta of 1.0; three have a beta of 1.2; the remainder has a beta of 1.4. What is the portfolio beta?6. Fama and French have proposed a threefactor model for expected returns. What are the three factors?。