最新财务管理英文笔试题

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财务管理专业英语复习题(参考答案)

D. working sheet D. equipment depreciation C. capital budgeting. A. time deposits A. the initial cost of the project can be reduced. C. notes payable B. sunk A. I and III only C. salaries payable D. product producing C. initial public offering (IPO). A. total A. future value D. (1+8%/2)2-1 B. $295,000 D. collecting accounts receivable faster A. m D. common stock A. gross profit margin A. liquidity ratios B. degree to which the net present value reacts to changes in a single variable.B. the transaction is complete and the goods or services delivered.A. Return on equity A. general economic risk D. It does not include depreciation.C. Interest. B.$108 B. $37.62 B. Corporate investment decisions have nothing to do with financial markets,A. Financial management A. double taxation of dividends D. compound interest D. The market is overvaluing the stock.B. approximately 10 B.640,000 D. issue common stock.A. Net profit margin ×Total asset turnover ×Equity multiplier B.bond issuing C. capital budgeting B. marketability A. future value流动比率Current ratio= Current assets/ Current liabilities=1.91速动比率Quick ratio=( Current assets- Inventory)/ Current liabilities=1.27应收账款周转率Accounts receivables turnover ratio=Sales/Accounts receivable=4.37债务比率Debt ratio= Total liabilities/ Total assets=50.3%资产收益率Return on assets= Net income/ Total assets=3.45%Price/earnings ratio= Market price per share/ Earnings per share=45.83Current ratio = Current assets / Current liabilities = 1.1Total debt ratio =(Total assets – Total equity) / Total assets = 0.58Total asset turnover = Sales / Total assets = 0.27Profit margin = Net income / Sales = 0.22Equity multiplier = Total assets / Total equity = 2.375ROA= Net income / Total assets = 0.061ROE= Net income / Total equity = 0.1452) ROE= Profit margin * Equity multiplier * Total assets turnover = 14.56%Financial management is an integrated decision-making process concerned with acquiring, financing, and managing assets to accomplish some overall goal within a business entity. Other names for financial management include managerial finance, corporate finance, and business finance. Making financial decisions is an integral part of all forms and sizes of business organizations from small privately-held firms to large publicly-traded corporations财务管理是一个通过收购、融资和资产管理来完成一些企业总体目标的综合决策过程。

财务英语试题及答案

财务英语试题及答案一、选择题（每题2分，共20分）1. What is the term for the process of recording, summarizing, and reporting financial transactions?A. BudgetingB. AccountingC. AuditingD. Forecasting答案：B2. Which of the following is a financial statement that showsa company's financial position at a specific point in time?A. Income StatementB. Balance SheetC. Cash Flow StatementD. Statement of Retained Earnings答案：B3. The difference between the purchase price and the fair market value of an asset is known as:A. DepreciationB. AmortizationC. GoodwillD. Capital Gains答案：C4. What is the term for the systematic allocation of the cost of a tangible asset over its useful life?A. DepreciationB. AmortizationC. AccrualD. Provision答案：A5. Which of the following is not a type of revenue recognition?A. Cash basisB. Accrual basisC. Installment methodD. All of the above答案：D6. The process of estimating the cost of completing a project is known as:A. BudgetingB. Cost estimationC. Project managementD. Cost accounting答案：B7. Which of the following is a non-current liability?A. Accounts payableB. Wages payableC. Long-term debtD. Income tax payable答案：C8. The term used to describe the process of adjusting the accounts at the end of an accounting period is:A. Closing the booksB. JournalizingC. PostingD. Adjusting entries答案：D9. What is the term for the financial statement that shows the changes in equity of a company over a period of time?A. Balance SheetB. Income StatementC. Statement of Changes in EquityD. Cash Flow Statement答案：C10. The process of verifying the accuracy of financial records is known as:A. BudgetingB. AuditingC. ForecastingD. Valuation答案：B二、填空题（每空1分，共10分）1. The __________ is the process of determining the value of an asset or liability.答案：valuation2. A __________ is a type of financial instrument that represents a creditor's claim on a company's assets.答案：bond3. The __________ is the difference between the cost of an asset and its depreciation.答案：book value4. __________ is the process of converting non-cash items into cash equivalents.答案：Liquidation5. A __________ is a financial statement that provides information about a company's cash inflows and outflows during a specific period.答案：Cash Flow Statement6. The __________ is the process of estimating the useful life of an asset.答案：depreciation schedule7. __________ is the practice of recording revenues and expenses when they are earned or incurred, not when cash is received or paid.答案：Accrual accounting8. __________ is the process of recording transactions in the order they are received.答案：Journalizing9. __________ is the practice of matching expenses with the revenues they helped to generate.答案：Matching principle10. A __________ is a document that provides evidence of a transaction.答案：voucher三、简答题（每题5分，共20分）1. What are the main components of a balance sheet?答案：The main components of a balance sheet are assets, liabilities, and equity.2. Explain the concept of "double-entry bookkeeping."答案：Double-entry bookkeeping is a system of recording financial transactions in which every entry to an account requires a corresponding and opposite entry to another account, ensuring that the total of debits equals the total of credits.3. What is the purpose of an income statement?答案：The purpose of an income statement is to summarize a company's revenues, expenses, and profits or losses over a specific period of time.4. Describe the role of a financial controller in anorganization.答案：A financial controller is responsible for overseeing the financial operations of an organization, including budgeting, financial reporting, and ensuring compliance with financial regulations and policies.四、论述题（每题15分，共30分）1. Discuss the importance of financial planning in business management.答案：Financial planning is crucial in business management as it helps in setting financial goals。

英语财务笔试题库及答案

英语财务笔试题库及答案1. What is the difference between a balance sheet and an income statement?Answer: A balance sheet is a snapshot of a company's financial condition at a specific point in time, showing assets, liabilities, and equity. An income statement, on the other hand, reports a company's financial performance over a period of time, including revenues, expenses, and net income.2. Define the term 'Depreciation'.Answer: Depreciation is the systematic allocation of the cost of a tangible asset over its useful life to reflect the consumption of the asset.3. Explain the concept of 'Accrual Accounting'.Answer: Accrual accounting is a method of accounting where revenues and expenses are recorded when they are earned or incurred, not when cash is received or paid.4. What is 'Capital Budgeting' and why is it important?Answer: Capital budgeting is the process of evaluating investment opportunities to determine whether they are financially viable and beneficial for a company. It is important as it helps in making long-term financial decisions.5. How do you calculate 'Net Present Value' (NPV)?Answer: Net Present Value (NPV) is calculated bysubtracting the present value of cash outflows (includinginitial investment) from the present value of cash inflows over a period of time, using a discount rate.6. What is 'Financial Leverage' and how does it affect a company?Answer: Financial leverage refers to the use of borrowed funds to increase the return on equity. It affects a company by increasing the risk and potential return on investment.7. Describe the 'Time Value of Money'.Answer: The time value of money is the concept that a sum of money is worth more now than the same sum in the future due to its potential earning capacity.8. What is 'Earnings Per Share' (EPS)?Answer: Earnings Per Share (EPS) is a financial metric calculated as the company's net income divided by the outstanding shares of its common stock, indicating the profit allocated to each share.9. Explain the 'Cash Conversion Cycle'.Answer: The cash conversion cycle is the length of time it takes for a company to convert its investment in inventory and receivables into cash.10. What is 'Break-Even Analysis' and how is it used?Answer: Break-even analysis is a method used to determine the number of units a company must sell to cover its costs and make a profit. It is used to evaluate the financial viability of a project or business.11. Define 'Working Capital'.Answer: Working capital is the difference between a company's current assets and current liabilities, representing the funds available for day-to-day operations.12. What is 'Liquidity Ratio' and how is it calculated?Answer: Liquidity ratio is a measure of a company'sability to pay short-term obligations. It is calculated by dividing current assets by current liabilities.13. Explain 'Return on Investment' (ROI).Answer: Return on Investment (ROI) is a financial metric that measures the profitability of an investment. It is calculated by dividing the net profit from the investment by the initial cost of the investment.14. What is 'Inflation' and how does it affect financial statements?Answer: Inflation is the rate at which the general level of prices for goods and services is rising, and subsequently, purchasing power is falling. It affects financial statements by reducing the real value of assets and increasing the cost of goods and services.15. Define 'Audit' in the context of finance.Answer: An audit is a systematic review and examination of a company's financial records, typically performed by an independent third party, to ensure accuracy, compliance with regulations, and to detect fraud.。

财务面试英语试题及答案

财务面试英语试题及答案一、选择题1. What is the primary purpose of financial accounting?A. To provide information for internal managementB. To provide information for external stakeholdersC. To assist in budgeting and forecastingD. To support tax compliance答案：B2. Which of the following is NOT a financial statement?A. Balance SheetB. Income StatementC. Cash Flow StatementD. Project Proposal答案：D3. What does the term "depreciation" refer to?A. The increase in the value of an assetB. The decrease in the value of an asset over timeC. The sale of an assetD. The purchase of an asset答案：B二、填空题4. The process of recording financial transactions in acompany's books is known as __________.答案：bookkeeping5. The __________ is responsible for the day-to-day management of the company's finances.答案：finance manager6. When a company issues shares, it is said to be engaging in __________.答案：equity financing三、简答题7. Explain the difference between "revenue" and "profit".答案：Revenue is the total amount of money that a company receives from its business activities before any costs are deducted. Profit, on the other hand, is the amount of money remaining after all expenses have been subtracted from the revenue.8. What are the main components of a balance sheet?答案：The main components of a balance sheet are assets, liabilities, and shareholders' equity.四、论述题9. Discuss the importance of financial planning for a business.答案：Financial planning is crucial for a business as it helps in setting financial goals, allocating resourcesefficiently, managing cash flow, and ensuring the long-term viability of the company. It also aids in risk management and provides a roadmap for the company's growth and expansion.10. Describe the role of an auditor in a company.答案：An auditor's role in a company is to provide an independent assessment of the company's financial statements to ensure they are accurate, complete, and in compliance with relevant accounting standards and regulations. They also help identify potential fraud and recommend improvements in financial controls and processes.。

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) BETANanyang Business Systems (NBS) 1.40Yunnan Garden Supply, Inc. (YUWHO) .80Bird Nest Soups Company (SLURP) .60! (WACHO) 1.80Park City Cola Company (BURP) 1.05Oldies 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:a. 24=1.5(1+g)/(0.12-g), g=0.054b. dividend yield=0.12-g=0.066, capital gains yield=0.0541. (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)1 =3.76D2 = D0(1+g1)2 = $3.24(1.16)2 =4.36D3 = D0(1+g1)3 = $3.24(1.16)3 =5.06D4 = D3(1+g2)1 = $5.06(1.08)1 =5.46P3 = 5.46 / (.15 - .08) = $78 [CG Model](2) Determine the PV of cash flows.PV(D1) = D1(PVIF15%, 1) = 3.76 (.870) = 3.27PV(D2) = D2(PVIF15%, 2) = 4.36 (.756) = 3.30PV(D3) = D3(PVIF15%, 3) = 5.06 (.658) = 3.33PV(P3) = P3(PVIF15%, 3) = 78 (.658) = 51.32(3) Calculate the intrinsic value by summing all the cash flow present values.V = 3.27 + 3.30 + 3.33 + 51.326. 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 .0901.0 1.115The portfolio beta is 1.115.b) (5/ ) Expected portfolio return=.08 + (.14 - .08)(1.115)= .08 + .0669 = .1469 or 14.69%。

财政学英语测试题及答案

财政学英语测试题及答案一、选择题（每题2分，共20分）1. Which of the following is not a type of government revenue?A. TaxationB. FeesC. DonationsD. Fines2. The process of allocating government funds is known as:A. BudgetingB. SpendingC. AllocatingD. Distributing3. The term "fiscal policy" refers to:A. The management of government finances.B. The setting of interest rates by a central bank.C. The regulation of money supply.D. The control of inflation.4. What is the primary purpose of a government budget?A. To increase the national debt.B. To plan for government spending and revenue.C. To reduce taxes.D. To increase government spending.5. Which of the following is an example of an expenditure ina government budget?A. Tax revenueB. Public debtC. Defense spendingD. Foreign aid6. The term "deficit" in fiscal terms means:A. The amount by which government spending exceeds revenue.B. The amount by which government revenue exceeds spending.C. The total amount of government debt.D. The amount of money a government has in reserve.7. What does "fiscal discipline" imply?A. The government's ability to borrow money.B. The government's adherence to a balanced budget.C. The government's ability to spend without limit.D. The government's ability to collect taxes efficiently.8. A "balanced budget" is one where:A. Government spending is equal to revenue.B. Government spending is less than revenue.C. Government spending is more than revenue.D. There is no public debt.9. What is the role of "public finance" in a country's economy?A. To provide financial support for private businesses.B. To manage the government's income and expenditure.C. To regulate the stock market.D. To control the money supply.10. The "fiscal year" is:A. The same as the calendar year for all countries.B. The period during which the government operates its budget.C. The year in which the government's financial statementsare audited.D. The year in which the government's taxes are collected.二、填空题（每空1分，共10分）11. The main sources of government revenue include taxes, fees, and _______.12. When the government spends more than it earns, it results in a _______.13. A government that practices fiscal discipline is likelyto have a _______ budget.14. The fiscal policy can be used to influence economicactivity by adjusting _______.15. Public finance is crucial for the provision of _______ services.三、简答题（每题5分，共20分）16. Explain the difference between a "surplus" and a "deficit" in fiscal terms.17. What are the potential consequences of a governmentrunning a persistent deficit?18. Describe the role of fiscal policy in economic stabilization.19. Discuss the importance of fiscal discipline for acountry's long-term economic health.四、论述题（每题15分，共30分）20. Discuss the challenges a government faces in creating a balanced budget and the strategies it might employ.21. Analyze the impact of fiscal policy on the overall economic growth and development of a country.五、案例分析题（共20分）22. A country is facing a recession. The government decidesto increase public spending on infrastructure to stimulatethe economy. Discuss the potential benefits and drawbacks of this fiscal policy action.答案：一、选择题1. C2. A3. A4. B5. C6. A7. B8. A9. B 10. B二、填空题11. fines/penalties12. deficit13. balanced14. taxation/tax rates/government spending15. public/social三、简答题16. A surplus occurs when government revenue exceeds spending, while a deficit occurs when spending exceeds revenue.17. Persistent deficits can lead to increased national debt, higher interest rates, and potential economic instability. 18. Fiscal policy can stabilize the economy by increasing spending during recessions and reducing it during booms to prevent overheating.19. Fiscal discipline ensures that a country can meet its financial obligations, maintain investor confidence, and support sustainable economic growth.四、论述题20. [自由发挥，根据财政学原理论述]21. [自由发挥，根据财政学原理论述]五、案例分析题22. [自由发挥，根据财政学原理分析]。

外企财务英语试题及答案

外企财务英语试题及答案一、选择题（每题2分，共20分）1. Which of the following is NOT a financial statement?A. Balance SheetB. Income StatementC. Cash Flow StatementD. Organizational Chart2. What does the term "EBIT" stand for in financial terms?A. Earnings Before Interest and TaxesB. Economic Benefits to InvestorsC. Equity Before Interest and TaxesD. Earnings Before Income Tax3. The process of forecasting a company's future financial performance is known as:A. Financial AnalysisB. Financial PlanningC. Financial ReportingD. Financial Review4. What is the primary purpose of a budget in a business?A. To track expensesB. To project future financial performanceC. To increase salesD. To reduce costs5. Which of the following is a type of long-term liability?A. Accounts PayableB. Notes PayableC. Bonds PayableD. Sales Tax Payable6. The term "ROI" refers to:A. Risk of InvestmentB. Return on InvestmentC. Revenue of InvestmentD. Rate of Interest7. What does "GAAP" stand for?A. General Accounting and Auditing PrinciplesB. Globally Accepted Accounting PracticesC. Generally Accepted Accounting PrinciplesD. Government Accounting and Auditing Procedures8. A company's "working capital" is calculated by:A. Current Assets - Current LiabilitiesB. Total Assets - Total LiabilitiesC. Fixed Assets - Current LiabilitiesD. Current Liabilities / Current Assets9. Which of the following is a non-cash expense?A. RentB. UtilitiesC. DepreciationD. Salaries10. The financial statement that shows the changes in a company's equity over a period of time is:A. Balance SheetB. Income StatementC. Statement of Cash FlowsD. Statement of Retained Earnings二、填空题（每题1分，共10分）11. The __________ is a document that provides a snapshot ofa company's financial condition at a specific point in time.12. __________ is the process of allocating resources to achieve the company's goals.13. A __________ is a financial statement that shows the sources and uses of cash during a specific period.14. __________ are short-term obligations that a company must pay within one year.15. The __________ is the difference between the cost of an asset and its depreciation.16. __________ is the amount of money that a company expects to receive for the sale of goods or services that have been delivered but not yet paid for by customers.17. __________ is the process of evaluating the financial performance of a company.18. __________ are the costs associated with the production of goods or services that have not yet been sold.19. __________ is the process of recording financial transactions in a company's accounting records.20. The __________ is a document that shows the company's net income and expenses over a specific period.三、简答题（每题5分，共30分）21. Explain the difference between "Operating Leverage" and "Financial Leverage."22. Describe the purpose of a "Statement of Changes in Equity."23. What is the role of "Debt Financing" in a company's capital structure?24. Discuss the importance of "Internal Controls" infinancial management.四、计算题（每题5分，共20分）25. Given the following data for a company:- Sales = $500,000- Cost of Goods Sold = $300,000- Operating Expenses = $80,000- Depreciation = $20,000- Interest Expense = $10,000- Taxes = 30% of EBITCalculate the company's EBIT and Net Income.26. If a company has Current Assets of $120,000 and Current Liabilities of $60,000, calculate the company's Working Capital.27. A company has a Return on Investment (ROI) of 15%. If the initial investment was $100,000, calculate the amount of the return.五、论述题（共20分）28. Discuss the role of "Financial Forecasting" in strategic business planning and provide examples of how it can be used to make informed business decisions.答案：一、选择题1. D2. A3. B4. B5. C6. B7. C8. A9. C10. D二、填空题11. Balance Sheet12. Budgeting13. Cash Flow Statement14. Current Liabilities15. Book Value16. Accounts Receivable17. Financial Analysis18.。

会计专业英文笔试题及答案

会计专业英文笔试题及答案一、选择题（每题2分，共20分）1. What is the primary purpose of financial statements?A. To provide information for decision-makingB. To promote the company's imageC. To comply with tax regulationsD. To attract investors答案：A2. Which of the following is not a fundamental accounting principle?A. Going concernB. Historical costC. Accrual basis of accountingD. Cash basis of accounting答案：D3. The matching principle is used to:A. Match expenses with the revenues they generateB. Match assets with the liabilities they generateC. Match revenues with the assets they generateD. Match liabilities with the expenses they generate答案：A4. What is the formula for calculating return on investment (ROI)?A. ROI = Net Income / Total AssetsB. ROI = (Net Income / Sales) * 100C. ROI = (Return on Sales + Return on Assets) / 2D. ROI = (Net Income / Average Investment) * 100答案：D5. Which of the following is not a type of depreciation method?A. Straight-lineB. Double-declining balanceC. Units of productionD. FIFO (First-In, First-Out)答案：D二、简答题（每题5分，共30分）6. Define "Double-Entry Accounting" and explain its importance in maintaining the integrity of financial records.答案：Double-entry accounting is a system of accounting where every transaction is recorded twice, once as a debit and once as a credit. This system ensures that the accounting equation remains balanced and helps in maintaining the integrity of financial records by providing a check and balance mechanism to prevent errors and fraud.7. Explain the difference between "Liabilities" and "Equity".答案：Liabilities are obligations of a company to pay cash, provide services, or give up assets to other entities in the future. They represent the company's debts and are a source of funds that the company is obligated to repay. Equity, on the other hand, represents the ownership interest of the shareholders in the company. It is the residual interest in the assets of the company after deducting liabilities.8. What is the purpose of "Financial Statement Analysis"?答案：The purpose of financial statement analysis is to assess the financial health and performance of a company. It involves evaluating the company's liquidity, profitability, solvency, and efficiency. This analysis helps investors, creditors, and other stakeholders make informed decisions about the company.9. Describe the "Balance Sheet" and its components.答案：The balance sheet is a financial statement that presents the financial position of a company at a specific point in time. It includes assets, liabilities, and equity. Assets are what the company owns, liabilities are what the company owes, and equity is the net worth of the company, calculated as assets minus liabilities.10. What is "Cash Flow Statement" and why is it important?答案：The cash flow statement is a financial statement that provides information about the cash inflows and outflows of a company over a period of time. It is important because it shows the company's ability to generate cash and meet its financial obligations, which is crucial for the survival and growth of the business.三、案例分析题（每题25分，共50分）11. Assume you are a financial analyst for a company. The company has reported the following financial data for the current year:- Sales: $500,000- Cost of Goods Sold: $300,000- Operating Expenses: $100,000- Depreciation: $20,000- Interest Expense: $10,000- Taxes: $30,000Calculate the company's net income.答案：Net Income = Sales - Cost of Goods Sold - Operating Expenses - Depreciation - Interest Expense - TaxesNet Income = $500,000 - $300,000 - $100,000 - $20,000 - $10,000 - $30,000Net Income = $50,00012. A company is considering purchasing a new machine for $100,000. The machine is expected to generate additional annual revenue of $30,000 and will have annual operating costs of $15,000. The machine is expected to last for 5 years and will have no residual value. Calculate the payback period for the machine.答案：Payback Period = Initial Investment / Annual Cash Inflow Annual Cash Inflow = Additional Revenue。

会计英语考试题目及答案

会计英语考试题目及答案一、选择题（每题2分，共20分）1. Which of the following is a basic accounting principle?A. The Going Concern PrincipleB. The Historical Cost PrincipleC. Both A and BD. Neither A nor BAnswer: C. Both A and B2. What is the term for the systematic arrangement of accounts in a specific order?A. JournalB. LedgerC. Trial BalanceD. Chart of AccountsAnswer: D. Chart of Accounts3. What does the term "Debit" mean in accounting?A. An increase in assetsB. A decrease in liabilitiesC. An increase in equityD. A decrease in expensesAnswer: A. An increase in assets4. Which of the following is not a type of financialstatement?A. Balance SheetB. Income StatementC. Cash Flow StatementD. Payroll ReportAnswer: D. Payroll Report5. What is the purpose of an adjusting entry?A. To update the financial recordsB. To prepare for the next accounting periodC. To correct errors in the accounting recordsD. All of the aboveAnswer: D. All of the above6. Which of the following is an example of a current asset?A. InventoryB. LandC. EquipmentD. Bonds PayableAnswer: A. Inventory7. What is the formula for calculating the return on investment (ROI)?A. (Net Income / Total Assets) * 100B. (Net Income / Total Equity) * 100C. (Net Income / Investment) * 100D. (Total Assets / Net Income) * 100Answer: C. (Net Income / Investment) * 1008. What is the accounting equation?A. Assets = Liabilities + EquityB. Liabilities - Equity = AssetsC. Assets + Liabilities = EquityD. Equity + Assets = LiabilitiesAnswer: A. Assets = Liabilities + Equity9. What is the purpose of depreciation?A. To reduce the value of an asset over timeB. To increase the value of an asset over timeC. To calculate the cost of an assetD. To determine the net income of a companyAnswer: A. To reduce the value of an asset over time10. Which of the following is not a function of a general ledger?A. To record daily transactionsB. To summarize financial informationC. To provide a detailed account of each transactionD. To prepare financial statementsAnswer: A. To record daily transactions二、简答题（每题5分，共30分）1. Explain the difference between an asset and a liability. Answer: An asset is a resource owned by a business that hasfuture economic benefit, such as cash, inventory, or property.A liability is an obligation or debt that a business owes to others, such as loans, accounts payable, or salaries payable.2. What is the purpose of a balance sheet?Answer: The purpose of a balance sheet is to provide a snapshot of a company's financial position at a specificpoint in time, showing the company's assets, liabilities, and equity.3. Define the term "revenue."Answer: Revenue is the income generated from the normal business operations of a company, such as the sale of goodsor services.4. What is the difference between a journal and a ledger?Answer: A journal is a book that records financialtransactions in chronological order, while a ledger is a book that summarizes and organizes the financial transactions by accounts.5. Explain the concept of accrual accounting.Answer: Accrual accounting is a method of accounting where revenues and expenses are recorded when they are earned or incurred, not when cash is received or paid.6. What is the purpose of a trial balance?Answer: The purpose of a trial balance is to ensure that the total debits equal the total credits in the general ledger, indicating that the accounting records are in balance.三、案例分析题（每题25分，共50分）1. A company purchased equipment for $50,000 on January 1, 2023, with a useful life of 5 years and no residual value. Calculate the annual depreciation expense using the straight-line method.Answer: Using the straight-line method, the annual depreciation expense is calculated as follows:Depreciation Expense = (Cost of Equipment - Residual Value) / Useful LifeDepreciation Expense = ($50,000 - $0) / 5 = $10,000 per year2. A company has the following transactions for the month of March 2023:- Sold goods for $20,000 on credit.- Purchased inventory for $15,000 in cash.- Paid $2,000 in salaries.- Received $18,。

财务管理英文题库及答案

财务管理英文题库及答案1. Question: What is the primary goal of financial management in a business?Answer: The primary goal of financial management in a business is to maximize the value of the firm to its shareholders by making optimal investment and financing decisions.2. Question: What is the difference between a current asset and a non-current asset?Answer: A current asset is an asset that is expected to be converted to cash or used up within one year or one operating cycle of the business. A non-current asset, on the other hand, is an asset that is not expected to be converted to cash or used up within one year or one operating cycle.3. Question: Explain the concept of Time Value of Money (TVM).Answer: The Time Value of Money (TVM) is a financial concept that states that a sum of money received today isworth more than the same sum received in the future due toits potential earning capacity. This principle is fundamental to finance and is used to evaluate the relative worth of money at different points in time.4. Question: What is the formula for calculating the presentvalue of a future sum of money?Answer: The formula for calculating the present value (PV) of a future sum of money (FV) is: PV = FV / (1 + r)^n, where r is the discount rate and n is the number of periods.5. Question: Define the term 'Leverage' in the context of financial management.Answer: Leverage in financial management refers to the use of borrowed funds to increase the potential return of an investment. It is a strategy that can amplify gains but also increases the risk of losses if the investment does not perform as expected.6. Question: What is the DuPont Identity and how is it usedin financial analysis?Answer: The DuPont Identity is a formula used to break down the return on equity (ROE) into three parts: net profit margin, asset turnover, and financial leverage. It is used in financial analysis to understand the drivers of a company's profitability and to compare it with other companies.7. Question: How does inflation affect a company's financial statements?Answer: Inflation affects a company's financial statements by reducing the purchasing power of money. It can lead to higher costs for raw materials and labor, which can decrease profit margins. Additionally, inflation can cause assets andliabilities to be understated, and it may affect the real value of reported earnings.8. Question: Explain the concept of Capital Budgeting and its importance.Answer: Capital Budgeting is the process of evaluating the profitability of long-term investments or projects. It is important because it helps a company decide which projects to undertake based on their potential to generate returns over time, considering the time value of money and the risks involved.9. Question: What is the difference between a fixed cost anda variable cost?Answer: A fixed cost is a cost that does not change with the level of production or sales, such as rent or salaries. A variable cost, however, changes in direct proportion to the level of production or sales, such as raw materials or direct labor costs.10. Question: Define the term 'Liquidity Ratios' and provide examples.Answer: Liquidity Ratios are financial metrics used to measure a company's ability to pay off its short-term debts. Examples include the Current Ratio (current assets divided by current liabilities) and the Quick Ratio (current assets minus inventory divided by current liabilities). These ratios help assess the liquidity position of a business.。

财务会计题库英文及答案

财务会计题库英文及答案1. Question: What is the purpose of the statement of cash flows in financial accounting?Answer: The purpose of the statement of cash flows is to provide information about the cash receipts and cash payments of an entity, showing how the changes in balance sheet accounts and income affect cash and cash equivalents, and to reveal the entity's financing and investing activities.2. Question: Explain the difference between a debit and a credit in double-entry bookkeeping.Answer: In double-entry bookkeeping, a debit is an entry on the left side of an account that either increases an asset or expense, or decreases a liability, equity, or revenue. A credit is an entry on the right side of an account that increases a liability, equity, or revenue, or decreases an asset or expense.3. Question: What is the accrual basis of accounting?Answer: The accrual basis of accounting is a method of accounting in which revenues and expenses are recognized when they are earned or incurred, not when cash is received or paid. This method provides a more accurate picture of a company's financial performance over a period of time.4. Question: How does depreciation affect a company's financial statements?Answer: Depreciation is a non-cash expense that allocates the cost of a tangible asset over its useful life. It affects the company's financial statements by reducing the asset's carrying value on the balance sheet and decreasing the net income on the income statement, which in turn can affect the retained earnings.5. Question: What is the primary goal of financial statement analysis?Answer: The primary goal of financial statement analysis is to assess the performance and financial condition of a company. It helps investors, creditors, and other stakeholders make informed decisions by evaluating the company's profitability, liquidity, solvency, and overall financial health.6. Question: What is the difference between a journal entry and a ledger entry?Answer: A journal entry records the initial transaction in the general journal, showing the date, accounts affected, and the amounts debited and credited. A ledger entry, on the other hand, is the posting of the journal entry to the appropriate accounts in the general ledger, which summarizes the transactions for each account.7. Question: Explain the matching principle in financialaccounting.Answer: The matching principle in financial accounting requires that expenses be recognized in the same period asthe revenues they helped to generate. This principle ensures that the income statement reflects the actual economic performance of the period and avoids distortions that could arise from recognizing revenues and expenses in different periods.8. Question: What is the purpose of adjusting entries?Answer: Adjusting entries are made at the end of an accounting period to ensure that the financial statements reflect the current financial position and performance of the company. They adjust for revenues and expenses that have been incurred but not yet recorded, or cash received or paid butnot yet recognized.9. Question: What is the difference between a budget and a forecast?Answer: A budget is a detailed financial plan thatoutlines expected revenues and expenses for a specific period, often used for internal management and control. A forecast,on the other hand, is a projection of future financial performance based on assumptions and trends, and is typically used for strategic planning and decision-making.10. Question: What is the role of the balance sheet infinancial accounting?Answer: The balance sheet is a financial statement that presents a company's financial position at a specific point in time. It lists the company's assets, liabilities, and equity, and is used to assess the company's liquidity, solvency, and overall financial stability. The balance sheet must always balance, with total assets equaling the sum of liabilities and equity.。

财务管理试卷及答案(英文版)

财务类英语试题及答案

财务类英语试题及答案一、选择题（每题1分，共10分）1. Which of the following is a common financial statement?A. Balance SheetB. Income StatementC. Cash Flow StatementD. All of the above2. The term "equity" in finance refers to:A. Money owed to a company.B. Money invested in a company.C. Money earned by a company.D. Money spent by a company.3. What is the formula for calculating the return on investment (ROI)?A. ROI = (Net Income / Total Assets) * 100B. ROI = (Total Assets / Net Income) * 100C. ROI = (Net Profit / Cost of Investment) * 100D. ROI = (Cost of Investment / Net Profit) * 1004. The process of forecasting a company's future financial position is known as:A. BudgetingB. ForecastingC. PlanningD. Analysis5. Which of the following is not a type of financial risk?A. Credit riskB. Market riskC. Liquidity riskD. Fixed risk6. The term "leverage" in finance is used to describe:A. The use of borrowed money to increase potential returns.B. The process of selling a financial asset.C. The amount of money a company has in the bank.D. The ratio of a company's equity to its debt.7. What does "EBIT" stand for in financial analysis?A. Earnings Before Interest and TaxesB. Earnings Before Income and TaxesC. Earnings Before Interest and TotalD. Earnings Before Interest, Taxes, and Depreciation8. The "time value of money" concept implies that:A. Money received in the future is worth less than money received today.B. Money received in the past is worth more than money received today.C. Money has no value over time.D. The value of money is constant over time.9. Which of the following is a method of financial analysis?A. SWOT analysisB. PEST analysisC. Ratio analysisD. Porter's Five Forces analysis10. The "break-even point" in finance is the point at which:A. A company's revenue equals its expenses.B. A company's net income is zero.C. A company's assets equal its liabilities.D. A company's cash flow is positive.答案：1. D2. B3. C4. B5. D6. A7. A8. A9. C10. A二、填空题（每题1分，共5分）11. The __________ is a financial statement that shows a company's assets, liabilities, and equity at a particular point in time.Answer: Balance Sheet12. The __________ is the difference between revenue and expenses during a specific period.Answer: Net Income13. In finance, the term "capital" often refers to the__________ of the business.Answer: Owners' Equity14. If a company's current assets are greater than itscurrent liabilities, it is said to have a positive __________. Answer: Working Capital15. The __________ is a measure of how well a company can pay its current debts.Answer: Quick Ratio三、简答题（每题5分，共10分）16. What is the purpose of a financial statement analysis?Answer: The purpose of financial statement analysis is to assess the performance and financial health of a company. It helps investors, creditors, and other stakeholders to make informed decisions about the company's financial stability, profitability, and risk.17. Explain the difference between "operating activities" and "financing activities" in the context of a cash flow statement.Answer: Operating activities in a cash flow statement referto the cash transactions that are directly related to thecore business operations of the company, such as cashreceived from sales and cash paid for expenses. Financing activities, on the other hand, involve cash transactions related to the company's financing arrangements, such as issuing or repaying debt, issuing or buying back shares, and paying dividends.四、计算题（每题5分，共5分）18. If a company has a net profit of $100,000 and a cost of investment of $500,000, what is the ROI?Answer: ROI = (Net Profit / Cost of Investment) * 100ROI = (100,000 / 500,000) * 100ROI = 20%五、论述题（每题10分，共10分）19. Discuss the importance of financial planning in business management.Answer: Financial planning is a critical component of business management as it helps in setting financial goals, allocating resources efficiently, and forecasting。

会计英语笔试题目及答案

会计英语笔试题目及答案一、选择题（每题2分，共20分）1. What does the term "Double Entry Accounting" refer to?A. A method of recording financial transactionsB. A type of accounting softwareC. An accounting qualificationD. A bookkeeping systemAnswer: A2. Which of the following is not a financial statement?A. Balance SheetB. Income StatementC. Cash Flow StatementD. Budget ReportAnswer: D3. What is the purpose of an "Adjusting Entry"?A. To correct errors in the booksB. To update the financial recordsC. To prepare for the next accounting periodD. To summarize the transactions of the periodAnswer: C4. The term "Accrual Accounting" is used to describe:A. Cash basis accountingB. Recording transactions when cash is received or paidC. Recording transactions when they are earned or incurredD. None of the aboveAnswer: C5. What is the primary purpose of a "Trial Balance"?A. To calculate the net income of a companyB. To ensure that the total debits equal the total creditsC. To determine the company's cash flowD. To prepare the final accountsAnswer: B6. "Depreciation" refers to the:A. Increase in the value of an asset over timeB. Allocation of the cost of a tangible asset over its useful lifeC. Sale of a company's assetsD. Reduction in the value of an asset due to obsolescence Answer: B7. Which of the following is a non-current asset?A. InventoryB. Prepaid expensesC. LandD. Accounts payableAnswer: C8. What does "GAAP" stand for?A. Generally Accepted Accounting PrinciplesB. Government Accounting and Auditing PrinciplesC. Global Accounting and Auditing PracticesD. Good Accounting and Auditing PrinciplesAnswer: A9. "Revenue recognition" is the process of:A. Recording revenue when it is earnedB. Recording revenue when it is receivedC. Recording revenue when it is expectedD. Recording revenue when it is paidAnswer: A10. The "Matching Principle" requires that expenses be:A. Recognized in the period they are incurredB. Recognized in the period they are paidC. Recognized in the period they are earnedD. Recognized in the period they are receivedAnswer: A二、填空题（每题1分，共10分）11. The ________ is a statement that shows a company's financial position at a specific point in time.Answer: Balance Sheet12. The ________ is the difference between the revenues and expenses of a company over a period of time.Answer: Net Income13. An asset is something that is expected to provide________ to the entity in the future.Answer: Economic Benefits14. The ________ is the process of allocating the cost of an asset over its useful life.Answer: Depreciation15. The ________ is the systematic and periodic recording of financial transactions.Answer: Accounting Cycle16. A ________ is a liability that is due within one year. Answer: Current Liability17. The ________ is a statement that shows the changes in a company's financial position over a period of time.Answer: Statement of Changes in Equity18. The ________ is the process of estimating the cost of goods sold and the ending inventory.Answer: Cost Flow Assumption19. The ________ is the difference between the list price and the actual amount paid for goods or services.Answer: Trade Discount20. The ________ is the process of adjusting the accounts to reflect the true financial position of the company at the endof the accounting period.Answer: Closing the Books三、简答题（每题5分，共30分）21. Explain the concept of "Going Concern" in accounting.Answer: The concept of "Going Concern" assumes that a business will continue to operate for the foreseeable future. It is a fundamental assumption in accounting that allows for the use of historical cost and the accrual basis of accounting.22. What is the purpose of a "Retained Earnings Statement"?Answer: A Retained Earnings Statement shows the changes in the retained earnings account over a period of time. Itstarts with the beginning balance of retained earnings, adjusts for net income or losses, and then subtracts dividends declared to arrive at the ending balance of retained earnings.23. Describe the "Cash Flow Statement" and its importance.Answer: The Cash Flow Statement is a financial statement that provides information about the cash inflows and outflows of a company during a period. It is important because it shows the liquidity of the company and its ability to generate cash, which is crucial。

财务管理试卷及答案(英文版)

Examination Problems for Fundamentals of Financial Management 2004-2005 (Paper B)I. Multiple Choice (20 points) (Please write your answer in the following1. ( ) is concerned with the acquisition, financing, and management of assets with some overall goal in mind.A. Financial managementB. Profit maximizationC. Agency theoryD. Social responsibilitymajor 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 conclusionA. 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 investorsrequire 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 salesA. 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 followingA. 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 turn over × 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 sella 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% % 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 Profit 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 equityII. Statement judgement (10 Points) (Please write your answer in the1. 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 the firm. ( )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)=, PVIFA(8%,10)=, FVIF(8%,10)=, FVIFA(8%,10)=today, Bird Seed Company’s common stock paid a $ annual dividend per share and had a 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 yield3. The data for various companies in the same industry are as follows: (amounts are in million dollars)Determine 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/ )A has an expected growth rate of 16% for the first 3 years and 8% thereafter. Each share of stock just received an annual 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) BETANanyang Business Systems (NBS)Yunnan Garden Supply, Inc. (YUWHO) .80Bird Nest Soups Company (SLURP) .60! (WACHO)Park City Cola Company (BURP)Oldies 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)I. Multiple Choice (20 points) (Please write your answer in the followingII. Statement judgement (10 Points) (Please write your answer in theIII. Questions (10 points) (Please write your answer on the answer paper) 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 assets In 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)= A=100000/=69032. Answer:a. 24=(1+g)/, g=b. dividend yield==, capital gains yield=3. Answer:4. 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,.5. (1) Determine the annual dividends.D0 = $ (this has been paid already)D1 = D0(1+g1)1 = $1 =D2 = D0(1+g1)2 = $2 =D3 = D0(1+g1)3 = $3 =D4 = D3(1+g2)1 = $1 =P3 = / (.15 - .08) = $78 [CG Model](2) Determine the PV of cash flows.PV(D1) = D1(PVIF15%, 1) = (.870) =PV(D2) = D2(PVIF15%, 2) = (.756) =PV(D3) = D3(PVIF15%, 3) = (.658) =PV(P3) = P3(PVIF15%, 3) = 78 (.658) =(3) Calculate the intrinsic value by summing all the cash flow present values.V = + + +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 .2 .280YUWHO .80 .2 .160SLURP .60 .2 .120WACHO .2 .360BURP .1 .105SHABOOM .90 .1 .090The portfolio beta is .b) (5/ ) Expected portfolio return=.08 + (.14 - .08)= .08 + .0669 = .1469 or %。

管理培训生英语笔试题

管理培训生英语笔试题1. 词汇和语法：- 选择题：选择正确的单词或短语完成句子。

- 填空题：根据句子上下文填入适当的单词。

- 纠错题：找出并改正句子中的语法错误。

示例问题：- The manager asked his employees to work ___ (harder/more hard) to meet the deadlines.- She is a ___ (responsible/responsibility) person who can be trusted.- We need to ___ (improve/increase) our productivity by using new technology.2. 阅读理解：- 阅读短文并回答问题。

- 理解文章主旨、细节和推理作者观点。

示例问题：- What is the main idea of the passage?- According to the passage, which of the following is true?- The author suggests that we should _.3. 写作：- 撰写邮件、信件或报告。

- 要求清晰表达观点、正确使用语法和词汇。

示例问题：- Write a memo to inform employees about a new policy change.- Write a report on a recent project you completed.4. 商务英语：- 涉及商务场景下的沟通和表达。

- 包括会议安排、商务报告、商务谈判等。

示例问题：- You are scheduling a meeting with a client. Write an email to confirm the details.- Read the following business report and summarize the main points.。

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