财务管理其中考试题英文 1

合集下载

财务英语试卷含答案

一、单项选择题，每道题只有一个正确选项（20 题，每题2 分，共40 分）（1）In the process of investment, enterprises must take into account(考虑) what factors（因素）first?A. the scale of investmentB. the risk of investment（2）In order to ensure correct and effective business investment(为了确保正确有效的商业投资), the firm should make good deal with the relationship between ( ) and ( )A. the investment direction and financing structureB. the inner conditions of enterprise and its macroeconomic environment.（3）In terms of profit maximization, in the free competition capital markets, the right of using capital belongs to () enterprises.A. the most profitable enterprisesB. the most advanced enterprises（4）The shareholders wealth is determined by ( ) and ( ).A. the number of shares owned and the stock market priceB. the size of the company and the stage of development（5）Municipal bonds are also referred to as 也partnership.A. individuallyB. jointly（7）All partners have ( ) liability.A.limitedB.unlimited（8）The investors receive in exchange for their funds usually ( ) in the company.A. take the form of stockB. take the form of debt（9）The only way for equity investors to recover（vt.重新获得；弥补）their investment is ( ).A. to sell the stock at a higher value laterB. to get the dividend of the stock later（10）The main disadvantage of equity financing is that ( ).A. the entrepreneur must make monthly principal and interest paymentB. the founders must give up some control of the business.（11）The second factor that the company considered for choosing a method of financing is that ( ).A. capacity to make set monthly payments on a loanB. Leverage and ratio of debt to equity（12）Closed-up investment 封闭式投资companies usually concentrate on ( ) rather than start-up companies.A. low-growth companies with good track recordsB. high-growth companies with good track r B. should not be considered（19）Sunk costs are （）for project valuation because they remain unaffected by the decision to accept or reject a project.A. irrelevantB. relevant（20）”The ability to meet credit obligations from existing assets if necessary.” This statement is to describe which “C” within The Five C’s of Credit ?A. CapitalB. Capacity二、单词翻译，英译中（20 题，每题1 分，共20 分）（1）Hedging risk（2）Sunk Cost（3）Securities and Exchange Commission（4）ESOP（5）Initial Public Offerings（6）NPV（7）PP（8）IRR（9）Acid test（10）The current ratio（11）Liquidity（12）Credit-worthy customer（13）Legal filings（14）JIT System（15）EOQ Model（16）Solvency（17）ROCE（18）Inventory Turnover Period（19）ROE（20）Dividend Yield三、判断题，请用T 或F 作答（15 题，每题1 分，共15 分）（1）在Equity Financing 中，“ Equity Investors ”需要每月偿还贷款。

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。

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。

财务管理英文笔试题

笔试题考试题型：、从下列选项中选出最佳答案（40x1.5=60 分）、计算题（10x2=20 分）、段落中英互译（5x4=20 分）Part I Choice questions 40x1.5=60 points) (Please write your answer in the following table)1. Financial statement does not include ( )A. balance sheetC. cash flow statement B. income statementD. working sheet2. An increase in which one of the following will increase the operatingcash flow? A.employee salariesC. building maintenance3. The process of planning B. office rentD. equipment depreciationand managing a firm 's long -term investmentsis called:A.working capital management.B. financial depreciation.C.capital budgeting.D. capital structure.4.Cash equivalents include ( )A.time depositsB. inventoriesC.accounts receivableD. prepaid expenses5.The internal rate of return for a project will increase if:A.the initial cost of the project can be reduced.B. the total amount of the cash inflows is reduced.C. the required rate of return is reduced.D. the salvage value of the project is omitted from the analysis.6.Which of the following belongs to current liabilities?( )A.mortgages payableB. prepaid expensesC. notes payableD. bonds payable7.You spent $500 last week fixing the transmission in your car. Now,the brakes are acting up and you are trying to decide whether to fix them or trade the car in for a newer model. In analyzing the brake situation, the $500 you spent fixing the transmission is a(n) ___ cost.A.opportunityB. sunkC. incrementalD. fixed8.Which of the following statements are correct concerning diversifiable risks?I.Diversifiable risks can be essentially eliminated by investing inseveral securities.II.The market rewards investors for diversifiable risk by paying a risk premium.III.Diversifiable risks are generally associated with an individualfirm or industry.IV.Beta measures diversifiable risk.A.I and III onlyB. II and IV onlyC. I and IV onlyD. II and III only9.Which of the following is a liability account? ( )A. prepaid insuranceB. additional paid-in capitalC. salaries payableD. accumulated depreciation10.Accountants employed by large corporations may work in the areas ofthe following except ( )A. product costing and pricingB. budgetingC. internal auditingD. product producing11. A corporation ' s first sale of equity made available to the publicis called a(n): ( )A. share repurchase program.B. private placement.C. initial public offering (IPO).D.seasoned equity offering(SEO).12.Standard deviation measures ______ risk.A. totalB. nondiversifiableC. unsystematicD.systematic13.( ) is the value at some future time of a present amount of money,or a series of payments, evaluated at a given interest rate.A. future valueB. present valueC. intrinsic valueD. market value14.Ellesmere Corporation issues 1 million $1 par value bonds. The stated interest rate is 8% per year and the interest is paid twice a year. What is the real interest rate of the bond? ( )A. 6%B.4%C. 10%D. (1+8%/2) 2-115.Your firm purchased a warehouse for $335,000 six years ago. Four years ago, repairs were madeto the building which cost $60,000. The annual taxes on the property are $20,000. The warehouse has a current book value of $268,000 and a market value of $295,000. The warehouse is totally paid for and solely owned by your firm. If the company decides to assign this warehouse to a new project, what value, if any, should beincluded in the initial cash flow of the project for this building? ( )A. $268,000B. $295,000C. $395,000D. $515,00016.Which one of the following will decrease the operating cycle?A. paying accounts payable fasterB.discontinuing the discount given for early payment of an accounts receivableC.decreasing the inventory turnover rateD.collecting accounts receivable faster17.Assumethat dividends of a commonstock 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/r18.Which of the following items has the most risk? ( )A. treasury billB. corporate bondC. preferred stockD. common stock19.( ) equals the gross profit divided by net sales of a firm.A. gross profit marginB. net profit marginC. return on investmentD.return on equity20.( ) is the ratios that measure a firm 's ability to meet short-term obligationsA. liquidity ratiosB. leverage ratiosC. coverage ratiosD. activity ratios 21.Sensitivity analysis helps you determine the:A. range of possible outcomes given possible ranges for every variable.B.degree to which the net present value reacts to changes in a single variable. present value given the best and the worst possible situations.D.degree to which a project is reliant upon the fixed costs.22.According GAAP revenue is recognized as income when: ( )A. a contract is signed to perform a service or deliver a good.B.the transaction is complete and the goods or services delivered.C.payment is received.D.income taxes are paid.E.all of the above.23.( ) is the result of Net Profit Margin x total asset turnover x (total assets/shareholders ' equity)A. Return on equityB. return on investmentC. current ratioD. quick ratioernment tax law adjustment is ( ) to a firm.A. general economic riskB. inflation and deflation riskC.firm-specific risk25.Which of the following statements concerning the income statement is not true?A.It measures performance over a specific period of time.B.It determines after-tax income of the firm.C.It includes deferred taxes.D.It does not include depreciation.E.it treats interest as an expense.26.Which of the following is not a noncash deduction?A. Depreciation.B. Deferred taxes.C. Interest.D. Two of the aboveE.All of the above.27.Sasha Corp had an ROA of 10 %. Sasha's profit margin was 6% on sales of $180. What are total assets? ()A.$300B.$108C.$48. D$162.28.Calculate net income based on the following information ( )Sales = $200.00Cost of goods sold = $100.00Depreciation = $18.00Interest paid = $25.00Tax rate = 34%A. $16.50B. $37.62C. $34.60D. $4.6029.Which of the following is not true? ( )A.Financial markets can be used to adjust consumption patterns over time.B.Corporate investment decisions have nothing to do with financial markets,C.Financial markets deal with cash flows over time.D. Investment decisions rely on the economic principles of financial markets.E.None of the above.30.( ) is concerned with the acquisition, financing, and management of assets with some overall goal in mind.A. Financial managementB. Profit maximizationC. Agency theoryD. Social responsibility31. 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.32.Interest paid (earned) on both the original and principal borrowed (lent)previous interest earned is often referred to as ( ).A. present valueB. simple interestC. future valueD. compound interest33.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.34. A 250 face value share of preferred stock, pays a 20 annual dividend and investors require a 7% return on this investment. If the security is 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 135.Felton Farm Supplies, Inc., has an 8 percent return on total assets of 480,000 and a net profit margin of 6percent. What are its sales? ( )A. 3,750,000B.640,000C. 480,000D. 1,500,00036. A company can improve (lower) its debt-to-totalasset ratio by doing which of the followi ng?A. Borrow more.B. Shift short-term to Ion g-term debt.C. Shift Iong-term to short-term debt.D. issue commonstock.37. The DuPont Approach breaks dow n the earning power on shareholders' book value (ROE) as follows: ROE =(). 38. Which of the followi ng items concerns financing decisi on?( )A. sales forecast ingB. bond issu ingC. receivables collectio nD.in vestme nt project selectio n39. Which of the following items is the function of a treasurer? ()A. cost acco untingB. internal con trolC. capital budget ingD. gen eral ledger40. For financial instruments, ( ) is judged in relation to the ability to sell a significant volume of securities in a short period oftime without significant price concession.A. maturityB. marketabilityC. defaultD.in flati on Part II: Calculatio n Questi ons ( 10x2 poi nts) (注意：要写出计算公式和计算过程，否则不得分；需要用文字描述的问题回答内容要详细，语句正确、完整。

财务管理英文笔试题

财务管理英文笔试题笔试题考试题型:一、从下列选项中选出最佳答案(40x1.5=60分)二、计算题(10x2=20分)三、段落中英互译(5x4=20分)Part I Choice questi ons 40x1.5=60 poi nts) (Please write your an swer inthe following table)1. Finan cial stateme nt does not in elude ()A. bala nee sheetB. in come stateme ntC. cash flow stateme ntD. work ing sheet2. An in crease in which one of the followi ng will in crease the operat ing cash flow?A. employee salariesB. office rentC. build ing maintenanceD. equipme nt depreciatio n3. The process of planning and managing a firm ' s Ionc-term investments is called:A. work ing capital man ageme nt.B. finan cial depreciati on.C. capital budget ing.D. capital structure.4. Cash equivale nts in clude ( )A. time depositsB. i nven toriesC. acco unts receivableD. prepaid expe nses5. The internal rate of return for a project will in crease if:A. the initial cost of the project can be reduced.B. the total amount of the cash in flows is reduced.C. the required rate of return is reduced.D. the salvage value of theproject is omitted from the an alysis.6. Which of the following belongs to current liabilities?( )A. mortgages payableB. prepaid expe nsesC. no tes payableD. bonds payable7. You spent $500 last week fixing the transmission in your car. Now, thebrakes are acting up and you are trying to decide whether to fix them ortrade the car in for a newer model. In analyzing the brake situation, the $500 you spe nt fixing the tran smissi on is a(n) _ cost.A. opport unityB.sunkC. in creme ntalD. fixed8. Which of the following statements are correct concerning diversifiable risks?I. Diversifiable risks can be essentially eliminated by investing inseveral securities.II. The market rewards investors for diversifiable risk bypaying a risk premium.III. Diversifiable risks are gen erally associated with an in dividualfirm or in dustry.IV. Beta measures diversifiable risk.9. Which of the following is a liability account?B. additi onal paid-i n capitalD. accumulated depreciati on10. Acco untants employed by large corporati ons may work in the areas of the followi ng except ()A. product costi ng and pric ingB. budget ing11. A corporation ' s first sale of equity made available to the public is called a(n): ()A. share repurchase program.B. private placeme nt.C. in itial public offeri ng (IPO).D.seas oned equity offeri ng (SEO).12. Stan dard deviati on measures __ risk.A. totalB. non diversifiableC. un systematicD. systematic13. ( ) is the value at some future time of a prese nt amount of mon ey,or a series of payme nts, evaluated at a give n in terest rate.A. future valueB. prese nt valueC. i ntri nsic valueD.market value14. Ellesmere Corporati on issues 1 millio n $1 par value bon ds. The stated interest rate is 8% per year and the interest is paid twice a year. WhatA. I and III onlyB. II and IV onlyC. I and IV onlyD. II and III only A. prepaid in sura nee C. salaries payable C. internal audit ing D. product produc ingis the real in terest rate of the bond?()A. 6%B.4%C. 10%D. (1+8%/2) 2-115. Your firm purchased a warehouse for $335,000 six years ago. Four years ago, repairs were madeto the building which cost $60,000. The annual taxes on the property are $20,000. The warehouse has a curre nt book value of $268,000 and a market value of $295,000. The warehouse is totally paidfor and solely owned by your firm. If the compa ny decides to assig n this warehouse to a new project, what value, if any, should be included in the in itial cash flow of the project for this build ing? ( )A. $268,000B. $295,000C. $395,000D. $515,00016. Which one of the following will decrease the operating cycle?A. pay ing acco unts payable fasterB. disc on ti nuing the disco unt give n for early payme nt of an acco unts receivableC. decreas ing the inven tory turno ver rateD. collect ing acco unts receivable faster17. Assumethat divide nds of a commorstock will be main tai ned 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/r18. Which of the follow ing items has the most risk?( )A. treasury billB. corporate bondC. preferred stockD. com mon stock19. ( ) equals the gross profit divided by net sales of a firm.A. gross profit marginB. net profit marginC. return on investmentD. retur n on equity20. ( ) is the ratios that measure a firm ' s ability to meet short -term obligati onsA. liquidity ratiosB. leverage ratiosC. coverage ratiosD.activity ratios21.Sensitivity analysis helps you determine the:A. range of possible outcomes give n possible ran ges forevery variable.B. degree to which the net prese nt value reacts to cha nges in a sin gle variable.C. net prese nt value give n the best and the worst possible situatio ns.D. degree to which a project is reliant upon the fixed costs.22. Accord ing GAAP reve nue is recog ni zed as in come whe n: ()A. a con tract is sig ned to perform a service or deliver a good.B. the transaction is complete and the goods or services delivered.C. payme nt is received.D. in come taxes are paid.E. all of the above.23. ( ) is the result of Net Profit Margin xtotal asset turnover x(total assets/shareholders ' equity)A. Retur n on equityB. return on in vestme ntC. curre nt ratioD. quick ratio24. Gover nment tax law adjustme nt is ( ) to a firm.A. gen eral econo mic riskB. in flati on and deflati on riskC.firm-specific risk25. Which of the followi ng stateme nts concerning the in come stateme nt is not true?A. It measures performa nee over a specific period of time.B. It determ ines after-tax in come of the firm.C. It in cludes deferred taxes.D. It does not in clude depreciatio n.E. it treats in terest as an expe nse.26. Which of the follow ing is not a non cash deducti on?A. Depreciati on.B. Deferred taxes.C. I nterest.D. Two of the aboveE. All of the above.27.Sasha Corp had an ROA of 10%. Sasha' s profit margin was 6% on sales of $180. What are total assets? ()A.$300B.$108C.$48. D$162.28. Calculate net in come based on the follow ing in formati on ( )Sales = $200.00Cost of goods sold = $100.00Depreciation = $18.00In terest paid = $25.00Tax rate = 34%A. $16.50B. $37.62C. $34.60D. $4.6029. Which of the followi ng is not true? ()A. Finan cial markets can be used to adjust con sumpti on patter ns over time.B. Corporate investment decisions have nothing to do with financial markets,C. Finan cial markets deal with cash flows over time.D. Investment decisions rely on the economic principles of financial markets.E. None of the above.30. ( ) is concerned with the acquisition, financing, and managementof assets with some overall goal in mind.A. Financial managementB. Profit maximizationC. Agency theoryD. Social resp on sibility31. A major disadvantage of the corporate form of organization is the().A. double taxati on of divide ndsB. i nability of the firm to raiselarge sums of additi onal capitalC. limited liability of shareholdersD. limited life of the corporateform.32. Interest paid (earned) on both the original prin cipal borrowed (le nt) and previous in terest earned is ofte n referred to as).(A. present valueB. simple interestC. future valueD. compo undin terest33. If the intrin sic value of a share of com mon stock is lesstha n its market value, which of the followi ng is the most reas on able con clusi on?。

《中级财务会计》期中考试试题(英文版)(doc 8页)

《中级财务会计》期中考试试题(英文版)(doc 8页)Sales returns and allowances 40,000Required:(a) Prepare the entries for estimated bad debts assuming that doubtful accounts areestimated to be (1) 6% of gross accounts receivable and (2) 1% of net sales.(b) Assume that all the information above is the same, except that the Allowance forDoubtful Accounts has a debit balance of $2,500 instead of a credit balance.Prepare the journal entry to record the bad debt expense?Question Three (9 points)The following trial balance was taken from the books of Fisk Corporation on December 31, 2007.Account Debit Credit Cash $ 12,000 Accounts Receivable 40,000Note Receivable 7,000Allowance for Doubtful Accounts $ 1,800 Merchandise Inventory 44,000Prepaid Insurance 4,800Furniture and Equipment 125,000Accumulated Depreciation--F. & E. 15,000 Accounts Payable 10,800 Common Stock 44,000 Retained Earnings 55,000 Sales 280,000Cost of Goods Sold 111,000Salaries Expense 50,000Rent Expense 12,800Totals $406,600 $406,600At year end, the following items have not yet been recorded.a. Insurance expired during the year, $2,000.b. Estimated bad debts, 1% of gross sales.c. Depreciation on furniture and equipment, 10% per year.d. Interest at 6% is receivable on the note for one full year.e. Rent paid in advance at December 1, $6,000 for half a yearf. Accrued salaries at December 31, $5,800.Required:(a) Prepare the necessary adjusting entries.(b) Prepare the necessary closing entries.Question Four (6 points)On May 1, Carter, Inc. factored $800,000 of accounts receivable with Rapid Finance ondiscounts, and absorb the credit losses. Rapid Finance assessed a finance charge of 6% of the total accounts receivable factored and retained an amount equal to 2% of the total receivables to cover sales discounts.Required:(a) Prepare the journal entry required on Carter 's books on May 1.(b) Prepare the journal entry required on Rapid Finance’s books on May 1.(c) Assume Carter factors the $800,000 of accounts receivable with Rapid Finance ona with recourse basis instead. The recourse provision has a fair value of $14,000.Prepare the journal entry required on Carter’s books on May 1.Question Five (6 points)Dent Company manufactures one product. On December 31, 2005, Dent adopted the dollar-value LIFO inventory method. The inventory on that date using the dollar-value LIFO inventory method was $180,000. Inventory data are as follows:Inventory at Price indexYear year-end prices (base year 2005)2006 $252,000 1.052007 368,000 1.152008 387,500 1.25InstructionsCompute the inventory at December 31, 2006, 2007, and 2008, using the dollar-value LIFO method for each year.Question Six (9 points)On January 1, a store had inventory of $48,000. January purchases were $46,000 and January sales were $90,000. On February 1 a fire destroyed most of the inventory. The rate of gross profit was 25% of cost. Merchandise with a selling price of $5,000 remained undamaged after the fire. Compute the amount of the fire loss, assuming the store had no insurance coverage. Label all figures.Question Seven (5 points)Accounts receivable in the amount of $250,000 were assigned to the Fast Finance Company by Nance, Inc., as security for a loan of $200,000. The finance company charged a 4% commission on the face amount of the loan, and the note bears interest at 9% per year.During the first month, Nance collected $130,000 on assigned accounts. This amount was remitted to the finance company along with one month's interest on the note.Make all the entries for Nance Inc. associated with the transfer of the accounts receivable and the remittance to the finance company.Question Eight (6 points)A machine which cost $200,000 is acquired on October 1, 2006. Its estimated salvage value is $20,000 and its expected life is eight years.Required:Calculate depreciation expense for 2006 and 2007 by each of the following methods, showing the figures used.(a) Double-declining balance(b) Sum-of-the-years'-digitsQuestion Nine (8 points)Ferry Corporation follows a policy of a 10% depreciation charge per year on all machinery and a 5% depreciation charge per year on buildings. The following transactions occurred in 2007:March 31, 2007—Negotiations which began in 2006 were completed and a warehouse purchased 1/1/98 (depreciation has been properly charged throughDecember 31, 2006) at a cost of $3,200,000 with a fair market value of$2,000,000 was exchanged for a second warehouse which also had afair market value of $2,000,000. The exchange had no commercialsubstance. Both parcels of land on which the warehouses werelocated were equal in value, and had a fair value equal to book value. June 30, 2007—Machinery with a cost of $240,000 and accumulated depreciation through January 1 of $180,000 was exchanged with $150,000 cash for aparcel of land with a fair market value of $230,000.Required:Prepare all appropriate journal entries for Ferry Corporation for the above dates.Question Ten (7 points)On March 1, Gatt Co. began construction of a small building. The following expenditures were incurred for construction:March 1 $ 75,000 April 1 $ 74,000May 1 180,000 June 1 270,000July 1 100,000The building was completed and occupied on July 1. To help pay for construction $50,000 was borrowed on March 1 on a 12%, three-year note payable. The only other debt outstanding during the year was a $500,000, 10% note issued two years ago.(a) Calculate the weighted-average accumulated expenditures.(b) Calculate avoidable interest.Question Eleven (5 points)The management of Yastrzemski Inc. was discussing whether certain equipment should be written off as a charge to current operations because of obsolescence. This equipment has a cost of $1,200,000 with depreciation to date of $300,000 as of December 31, 2007. On December 31, 2007, management projected its future net cash flows from this equipment to be $700,000 and its fair value to be $600,000. The company intends to use this equipment in the future.Required:(a) Prepare the journal entry (if any) to record the impairment at December 31, 2007.(b) Where should the gain or loss (if any) on the write-down be reported in the income statement?(c) At December 31, 2008, the equipment’s fair value increased to $700,000. Prepare the journal entry (if any) to record this increase in fair value.Question Twelve (8 points)Buhner Company constructed a building at a cost of $3,000,000 and occupied it beginning in January 1988. It was estimated at that time that its life would be 40 years, with no salvage value.In January 2008, a new roof was installed at a cost of $500,000, and it was estimated then that the building would have a useful life of 25 years from that date. The cost of the old roof was $200,000.Required:(a) What amount of depreciation should have been charged annually from the years1988 to 2007?(Assume straight-line depreciation.)(b) What entry should be made in 2008 to record the replacement of the roof?(c) Prepare the entry in January 2008, to record the revision in the estimated life of thebuilding, ifnecessary.(d) What amount of depreciation should be charged for the year 2008?Question Thirteen (7 points)At 12/31/06, the end of Feeney Company's first year of business, inventory was $4,100 and $2,800 at cost and at market, respectively.Following is data relative to the 12/31/07 inventory of Feeney:Original Net Net Realizable AppropriateCost Replacement Realizable Value Less InventoryItem Per Unit Cost Value Normal ProfitC .70 .75D .75 .65E .90 .85Selling price is $1.00/unit for all items. Disposal costs amount to 10% of selling price and a "normal" profit is 30% of selling price. There are 1,000 units of each item in the 12/31/07 inventory.Required:(a) Prepare the entry at 12/31/06 necessary to implement the lower-of-cost-or-marketprocedure assuming Feeney uses a contra account for its balance sheet.(b) Complete the last three columns in the 12/31/07 schedule above based upon thelower-of-cost-or-market rules.(c) Prepare the entry(ies) necessary at 12/31/07 based on the data above.Question Fourteen (8 points)On December 31, 2007, Brown Company finished consultation services and accepted in exchange a promissory note with a face value of $400,000, a due date of December 31, 2010, and a stated rate of 5%, with interest receivable at the end of each year. The fair value of the services is not readily determinable and the note is not readily marketable. Under the circumstances, the note is considered to have an appropriate imputed rate of interest of 10%.The following interest factors are provided:Interest Rate Table Factors For Three Periods 5% 10%Future Value of 1 1.15763 1.33100Present Value of 1 .86384 .75132Future Value of Ordinary Annuity of 1 3.15250 3.31000Present Value of Ordinary Annuity of 1 2.72325 2.48685 Required:(a) Determine the present value of the note.(b) Prepare a Schedule of Note Discount Amortization for Brown Company under theeffective interest method. (Round to whole dollars.) (Use the format below)Schedule of Note Discount AmortizationCash Effective Unamortized PresentInterest Interest Discount Discount Value Date (5%) (10%) Amortized Balance of Note12/31/0712/31/08(c) Prepare the entry for the interest receipt as of Dec. 31, 2008.。

财务管理其中考试题(英文)-1

财务管理其中考试题(英文)-1财务管理其中考试题（英文）1..Finance, generally, deals withA) moneyB) marketsC) peopleD) all of the aboveAnswer: D2. Generally, a corporation is owned by the:A) ManagersB) Board of DirectorsC) ShareholdersD) All of the above.Answer: C3.The following are examples of real assets except:A) MachineryB) Common stockC) Office buildingsD) InventoryAnswer: B4.In finance, "short-term" meansA) less than three monthsB) less than six monthsC) less than one yearD) less than five yearsAnswer: C17. The treasurer usually oversees the following functions of a corporation except:A) Preparation of financial statementsB) Investor relationshipsC) Cash managementD) Obtaining financesAnswer: AType: DifficultPage: 618. The treasurer is usually responsible the following functions of a corporationT F 30. A corporation has a legal existence of its own and is based on "articles of incorporation."Answer: True4. Present value of $110,000 expected to be received one year from today at aninterest rate (discount rate) of 10% per year is:A) $121,000B) $100,000C) $110,000D) None of the aboveAnswer: BType: EasyPage: 14Response: PV = (110,000) / (1.1) = 100,0005. One year discount factor at a discount rate of 10% per year is:A) 1.1B) 1.0C) 0.909D) None of the aboveAnswer: CType: EasyPage: 14Response: Discount Factor = 1/1.1 = 0.9096. Present Value of $100,000 expected to be received at the end of one year at adiscount rate of 100% per year is:A) $50,000B) $200,000C) $100,000D) None of the aboveAnswer: AType: EasyPage: 14Response: PV = (100,000) / (1+1) = 50,0007. The one-year discount factor at an interest rate of 25% per year is:A) 1.25B) 0.8C) 0.25D) None of the aboveAnswer: BType: EasyPage: 14Response: Discount factor = 1/(1.25) = 0.810. If the one-year discount factor is 0.85, what is the present value of $120 to bereceived one year from today?A) $100B) $102C) $141.18D) None of the aboveAnswer: BType: MediumPage: 14Response: PV = (120)(0.85) = 10220. If the five-year present value annuity factor is 3.791 and four-year present valueannuity factor is 3.170, what is the present value at the $1 received at the end of five years?A) $0.621B) $1.61C) $0.315D) None of the aboveAnswer: AType: DifficultPage: 39Response: PV = (3.791 3.170)*(1) = 0.62121. If the three-year present value annuity factor is 2.723 and two-year presentvalue annuity factor is 1.859, what is the present value of $1 received at the end of the 3 years?A) $0.157B) $0.864C) $1.00D) None of the aboveAnswer: BType: DifficultPage: 39Response: PV = (2.723-1.859) *(1) = 0.86422. What is the present value annuity factor at a discount rate of 13% for 10 years?A) $5.4262B) $8.514C) $8.13D) None of the aboveAnswer: AType: MediumPage: 39Response: PV annuity factor = (1/0.13) (1/((0.13)(1.13^10))) = 5.426223. What is the present value annuity factor at an interest rate of 11% for 5 years?A) 8.514B) 6.145C) 3.6959D) None of the aboveAnswer: CType: MediumPage: 39Response: PV annuity factor = (1/0.11) (1/((0.11)(1.11^5))) = 3.695933.If the present value of $1.00 received n years from today at an interest rate of r is0.270, then what is the future value of $1.00 invested today at an interest rate ofr% for n years?A) $1.00B) $3.70C) $1.70D) Not enough information to solve the problemAnswer: BType: DifficultPage: 40Response: FV = 1/(0.270) = 3.7034. If the future value of $1 invested today at an interest rate of r% for n years is2.5937, what is the present value of $1 to be received in n years at r% interestrate?A) $0.3855B) $1.00C) $0.621D) None of the aboveAnswer: AType: DifficultPage: 40Response: PV = 1/2.5937 = 0.3855541.Mr. Hopper is expected to retire in 30 years and he wishes accumulate $1,000,000 inhis retirement fund by that time. If the interest rate is 12% per year, howmuch should Mr. Hopper put into the retirement fund each year in order toachieve this goal?A) $4,143.66B) $8,287.32C) $4,000D) None of the aboveAnswer: AType: DifficultPage: 40Response: Future value annuity factor = [(1/0.12) (1/(0.12*1.12^30)]*(1.12^30) = 241.3827; payment = 1,000,000/241.3327 = 4143.6642. Mr. Hopper is expected to retire in 30 years and he wishes accumulate $750,000in his retirement fund by that time. If the interest rate is 10% per year, howmuch should Mr. Hopper put into the retirement fund each year in order toachieve this goal?A) $4,559.44B) $2,500C) $9,118.88D) None of the aboveAnswer: AType: DifficultPage: 40Response: Future value annuity factor = [(1/0.10) (1/(0.10*1.10^30)]*(1.10^30) = 164.494; payment = 750,000/164.494 = 4559.4443. If you invest $100 at 12% APR for three years, how much would you have at theend of 3 years using simple interest?A) $136B) $140.49C) $240.18D) None of the aboveAnswer: AType: MediumPage: 40Response: FV = 100 + (100*0.12*3) = $1362.If a firm permanently borrows $50 million at an interest rate of 8%, what is thepresent value of the interest tax shield? Assume a 35% tax rate.A) $8.00 millionB) $8.75 millionC) $17.50 millionD) $25.00 millionE) None of the aboveAnswer: CType: MediumPage: 490Response: PV of interest tax shield = (0.35)(50) = $17.5 million3. If a firm borrows $25 million for one year at an interest rate of 10%, what is thepresent value of the interest tax shield? Assume a 35% tax rate.(Approximately.)A) $1.591 millionB) $1.75 millionC) $1.00 millionD) $5.00 millionE) None of the aboveAnswer: AType: DifficultPage: 490Response: PV of interest tax shield = ((0.35)(50)(0.1))/1.1 = $1.5915. If the before-tax cost of debt is 10% and the corporate tax rate is 30%, calculatethe after-tax cost of debt:A) 10%B) 3%C) 7%D) none of the aboveAnswer: CType: EasyPage: 5256. A firm has a total value of $1 million and debt valued at $400,000. What is theafter-tax weighted average cost of capital if the after - tax cost of debt is 12%and the cost of equity is 15%?A) 13.5%B) 13.8%C) 27.0%D) It's impossible to determine the WACC without debt and equity betasAnswer: BType: MediumPage: 525Response: WACC = 0.4(0.12) + 0.6(0.15) = 0.048 + 0.09 = 0.1387.The CR Corp. maintains a debt-equity ratio of 0.5 The cost of equity for CR Corp. is15% and the after-tax cost of debt is 9%. What is the after-tax weightedaverage cost of capital?A) 11.86%B) 12.00%C) 13.00%D) None of the aboveAnswer: CType: MediumPage: 525Response: (1/3)(9) + (2/3)(15) = 13%8. A firm is financed with 50% risk-free debt and 50% equity. The risk-free rateis 10%, the firm's cost of equity capital is 20%, and the firm's marginal tax rate is 35%. What is the firm's weighted average cost of capital?A) 13.25%B) 10.00%C) 20.00%D) None of the aboveAnswer: AType: MediumPage: 525Response: (0.50)(1-0.35)(10) + (0.5)(20) = 13.2510. A firm is financed with 40% risk-free debt and 60% equity. The risk-free rateis 7%, the firm's cost of equity capital is 18%, and the firm's marginal tax rate is 35%. What is the firm's weighted average cost of capital?A) 18.00%B) 7.00%C) 13.60%D) 12.62%E) None of the aboveAnswer: DType: MediumPage: 525Response: (0.4)(1-0.35)(7) + (0.6)(18) = 12.62%11. Which of the following statements characterize(s) the weighted average cost ofcapital formula?A) It requires knowledge of the required return on the firm if it is all-equityfinancedB) It is based on book values of debt and equityC) It assumes the project is a carbon copy of the firmD) It can be used to take account of issue costs and other such financing sideeffectsAnswer: CType: DifficultPage: 52612. A firm is financed with 30% risk-free debt, 60% common equity and 10%preferred equity. The risk-free rate is 5%, the firm's cost of common equity is 15%, and that of preferred equity is 10%. The marginal tax rate is 30%.What is the firm's weighted average cost of capital?A) 10.05%B) 11.05%C) 12.5%D) None of the aboveAnswer: BType: DifficultPage: 526Response: (0.3)(1-0.3)(5) + (0.6)(15) + (0.1)(10) = 11.0513. When the amount of debt is fixed, present value of tax-shield is calculated using:A) cost of debtB) cost of equityC) cost of capitalD) none of the aboveAnswer: AType: MediumPage: 527。

财务管理专业英语练习题

专业英语作业Topic 1:Agency is an area of commercial institution dealing with a contractual or quasi-contractual, or non-contractual set of relationships when a person, called the agent, is authorized to act on behalf of another (called the principal) to create a legal relationship with a third party.Money market is a component of the financial markets for assets involved in short-term borrowing and lending with original maturities of one year or shorter time frames.Capital market is a market for securities (debt or equity), where business enterprises and governments can raise long-term funds. It is defined as a market in which money is provided for periods longer than a year.Spontaneous financing refers to the automatic source of short term funds arising in the normal course of short term course of business. Trade credit and out standing expenses are examples of spontaneous financing.Financial intermediary is a financial institution that connects surplus and deficit agents. Secured loan is a loan in which the borrower pledges some asset as collateral for the loan, which then becomes a secured debt owed to the creditor who gives the loan.Unsecured Loan A loan that is issued and supported only by the borrower's creditworthiness, rather than by some sort of collateral.Marketability is a measure of the ability of a security to be bought and sold for a price at which similar items are dealling.Perpetuity is an annuity that has no end, or a stream of cash payments that continues forever. Hedge-matching In asset management, the coordination of an organization's cash inflows with cash outflows by matching the maturity of income generating assets (such as certificates of deposit) with the maturity of interest incurring liabilities (debts).Topic 2:美国IBM从1984年左右开始由兴到衰，由年盈利66亿美元到1992年亏损达49.7亿美元。

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.。

《中级财务会计》期中考试试题(英文版

《中级财务会计》期中考试试题(英文版discounts, and absorb the credit losses. Rapid Finance assessed a finance charge of 6% of the total accounts receivable factored and retained an amount equal to 2% of the total receivables to cover sales discounts.Required:(a) Prepare the journal entry required on Carter 's books on May 1.(b) Prepare the journal entry required on Rapid Finance’s books on May 1.(c) Assume Carter factors the $800,000 of accounts receivable with Rapid Finance ona with recourse basis instead. The recourse provision has a fair value of $14,000.Prepare the journal entry required on Carter’s books on May 1.Question Five (6 points)Dent Company manufactures one product. On December 31, 2005, Dent adopted the dollar-value LIFO inventory method. The inventory on that date using the dollar-value LIFO inventory method was $180,000. Inventory data are as follows:Inventory at Price indexYear year-end prices (base year 2005)2006 $252,000 1.052007 368,000 1.152008 387,500 1.25InstructionsCompute the inventory at December 31, 2006, 2007, and 2008, using the dollar-value LIFO method for each year.Question Six (9 points)On January 1, a store had inventory of $48,000. January purchases were $46,000 and January sales were $90,000. On February 1 a fire destroyed most of the inventory. The rate of gross profit was 25% of cost. Merchandise with a selling price of $5,000 remained undamaged after the fire. Compute the amount of the fire loss, assuming the store had no insurance coverage. Label all figures.Question Seven (5 points)Accounts receivable in the amount of $250,000 were assigned to the Fast Finance Company by Nance, Inc., as security for a loan of $200,000. The finance company charged a 4% commission on the face amount of the loan, and the note bears interest at 9% per year.During the first month, Nance collected $130,000 on assigned accounts. This amount was remitted to the finance company along with one month's interest on the note. Required:Make all the entries for Nance Inc. associated with the transfer of the accounts receivable and the remittance to the finance company.Question Eight (6 points)A machine which cost $200,000 is acquired on October 1, 2006. Its estimated salvage value is $20,000 and its expected life is eight years.Required:Calculate depreciation expense for 2006 and 2007 by each of the following methods, showing the figures used.(a) Double-declining balance(b) Sum-of-the-years'-digitsQuestion Nine (8 points)Ferry Corporation follows a policy of a 10% depreciation charge per year on all machinery and a 5% depreciation charge per year on buildings. The following transactions occurred in 2007:March 31, 2007—Negotiations which began in 2006 were completed and a warehouse purchased 1/1/98 (depreciation has been properly charged throughDecember 31, 2006) at a cost of $3,200,000 with a fair market value of$2,000,000 was exchanged for a second warehouse which also had afair market value of $2,000,000. The exchange had no commercialsubstance. Both parcels of land on which the warehouses werelocated were equal in value, and had a fair value equal to book value. June 30, 2007—Machinery with a cost of $240,000 and accumulated depreciation through January 1 of $180,000 was exchanged with $150,000 cash for aparcel of land with a fair market value of $230,000.Required:Prepare all appropriate journal entries for Ferry Corporation for the above dates.Question Ten (7 points)On March 1, Gatt Co. began construction of a small building. The following expenditures were incurred for construction:March 1 $ 75,000 April 1 $ 74,000May 1 180,000 June 1 270,000July 1 100,000The building was completed and occupied on July 1. To help pay for construction $50,000 was borrowed on March 1 on a 12%, three-year note payable. The only other debt outstanding during the year was a $500,000, 10% note issued two years ago. Required:(a) Calculate the weighted-average accumulated expenditures.(b) Calculate avoidable interest.Question Eleven (5 points)The management of Yastrzemski Inc. was discussing whether certain equipment should be written off as a charge to current operations because of obsolescence. This equipment has a cost of $1,200,000 with depreciation to date of $300,000 as of December 31, 2007. On December 31, 2007, management projected its future net cash flows from this equipment to be $700,000 and its fair value to be $600,000. The company intends to use this equipment in the future.Required:(a) Prepare the journal entry (if any) to record the impairment at December 31, 2007.(b) Where should the gain or loss (if any) on the write-down be reported in the income statement?(c) At December 31, 2008, the equipment’s fair value increased to $700,000. Prepare the journal entry (if any) to record this increase in fair value.Question Twelve (8 points)Buhner Company constructed a building at a cost of $3,000,000 and occupied it beginning in January 1988. It was estimated at that time that its life would be 40 years, with no salvage value.In January 2008, a new roof was installed at a cost of $500,000, and it was estimated then that the building would have a useful life of 25 years from that date. The cost of the old roof was $200,000.Required:(a) What amount of depreciation should have been charged annually from the years1988 to 2007?(Assume straight-line depreciation.)(b) What entry should be made in 2008 to record the replacement of the roof?(c) Prepare the entry in January 2008, to record the revision in the estimated life of thebuilding, ifnecessary.(d) What amount of depreciation should be charged for the year 2008?Question Thirteen (7 points)At 12/31/06, the end of Feeney Company's first year of business, inventory was $4,100 and $2,800 at cost and at market, respectively.Following is data relative to the 12/31/07 inventory of Feeney:Original Net Net Realizable AppropriateCost Replacement Realizable Value Less InventoryItem Per Unit Cost Value Normal Profit ValueA $ .65 $ .45B .45 .40C .70 .75D .75 .65E .90 .85Selling price is $1.00/unit for all items. Disposal costs amount to 10% of selling price and a "normal" profit is 30% of selling price. There are 1,000 units of each item in the 12/31/07 inventory.Required:(a) Prepare the entry at 12/31/06 necessary to implement the lower-of-cost-or-marketprocedure assuming Feeney uses a contra account for its balance sheet.(b) Complete the last three columns in the 12/31/07 schedule above based upon thelower-of-cost-or-market rules.(c) Prepare the entry(ies) necessary at 12/31/07 based on the data above.Question Fourteen (8 points)On December 31, 2007, Brown Company finished consultation services and accepted in exchange a promissory note with a face value of $400,000, a due date of December 31, 2010, and a stated rate of 5%, with interest receivable at the end of each year. The fair value of the services is not readily determinable and the note is not readily marketable. Under the circumstances, the note is considered to have an appropriate imputed rate of interest of 10%.The following interest factors are provided:Interest Rate Table Factors For Three Periods 5% 10%Future Value of 1 1.15763 1.33100Present Value of 1 .86384 .75132Future Value of Ordinary Annuity of 1 3.15250 3.31000Present Value of Ordinary Annuity of 1 2.72325 2.48685 Required:(a) Determine the present value of the note.(b) Prepare a Schedule of Note Discount Amortization for Brown Company under theeffective interest method. (Round to whole dollars.) (Use the format below)Schedule of Note Discount AmortizationCash Effective Unamortized PresentInterest Interest Discount Discount Value Date (5%) (10%) Amortized Balance of Note12/31/0712/31/0812/31/0912/31/10(c) Prepare the entry for the interest receipt as of Dec. 31, 2008.。

《中级财务会计》期中考试试题(英文版

《中级财务会计》期中考试试题(英文版discounts, and absorb the credit losses. Rapid Finance assessed a finance charge of6% of the total accounts receivable factored and retained an amount equal to 2% of thetotal receivables to cover sales discounts.Required:(a) Prepare the journal entry required on Carter 's books on May 1.(b) Prepare the journal entry required on Rapid Finance’s books on May 1.(c) Assume Carter factors the $800,000 of accounts receivable with Rapid Finance ona with recourse basis instead. The recourse provision has a fair value of $14,000.Prepare the journal entry required on Carter’s books on May 1.Question Five (6 points)Dent Company manufactures one product. On December 31, 2005, Dent adopted thedollar-value LIFO inventory method. The inventory on that date using the dollar-valueLIFO inventory method was $180,000. Inventory data are as follows:Inventory at Price indexYear year-end prices (base year 2005)2006 $252,000 1.052007 368,000 1.152008 387,500 1.25InstructionsCompute the inventory at December 31, 2006, 2007, and 2008, using the dollar-value LIFO method for each year.Question Six (9 points)On January 1, a store had inventory of $48,000. January purchases were $46,000 andJanuary sales were $90,000. On February 1 a fire destroyed most of the inventory. Therate of gross profit was 25% of cost. Merchandise with a selling price of $5,000remained undamaged after the fire. Compute the amount of the fire loss, assuming thestore had no insurance coverage. Label all figures.Question Seven (5 points)Accounts receivable in the amount of $250,000 were assigned to the Fast Finance Company by Nance, Inc., as security for a loan of $200,000. The finance company charged a 4% commission on the face amount of the loan, and the note bears interestat 9% per year.During the first month, Nance collected $130,000 on assigned accounts. This amountwas remitted to the finance company along with one month's interest on the note.Required:Make all the entries for Nance Inc. associated with the transfer of the accounts receivable and the remittance to the finance company.Question Eight (6 points)A machine which cost $200,000 is acquired on October 1, 2006. Its estimated salvagevalue is $20,000 and its expected life is eight years.Required:Calculate depreciation expense for 2006 and 2007 by each of the following methods,showing the figures used.(a) Double-declining balance(b) Sum-of-the-years'-digitsQuestion Nine (8 points)Ferry Corporation follows a policy of a 10% depreciation charge per year on allmachinery and a 5% depreciation charge per year on buildings. The followingtransactions occurred in 2007:March 31, 2007—Negotiations which began in 2006 were completed and a warehousepurchased 1/1/98 (depreciation has been properly charged throughDecember 31, 2006) at a cost of $3,200,000 with a fair market value of$2,000,000 was exchanged for a second warehouse which also had afair market value of $2,000,000. The exchange had no commercialsubstance. Both parcels of land on which the warehouses werelocated were equal in value, and had a fair value equal to book value.June 30, 2007—Machinery with a cost of $240,000 and accumulated depreciation through January 1 of $180,000 was exchanged with $150,000 cash for aparcel of land with a fair market value of $230,000.Required:Prepare all appropriate journal entries for Ferry Corporation for the above dates.Question Ten (7 points)On March 1, Gatt Co. began construction of a small building. The followingexpenditures were incurred for construction:March 1 $ 75,000 April 1 $ 74,000May 1 180,000 June 1 270,000July 1 100,000The building was completed and occupied on July 1. To help pay for construction$50,000 was borrowed on March 1 on a 12%, three-year note payable. The only other debt outstanding during the year was a $500,000, 10% note issued two years ago.Required:(a) Calculate the weighted-average accumulated expenditures.(b) Calculate avoidable interest.Question Eleven (5 points)The management of Yastrzemski Inc. was discussing whether certain equipment should be written off as a charge to current operations because of obsolescence. Thisequipment has a cost of $1,200,000 with depreciation to date of $300,000 as of December 31, 2007. On December 31, 2007, management projected its future net cashflows from this equipment to be $700,000 and its fair value to be $600,000. The company intends to use this equipment in the future.Required:(a) Prepare the journal entry (if any) to record the impairment at December 31, 2007.(b) Where should the gain or loss (if any) on the write-down be reported in the income statement?(c) At December 31, 2008, the equipment’s fair value increased to $700,000. Prepare the journal entry (if any) to record this increase in fair value.Question Twelve (8 points)Buhner Company constructed a building at a cost of $3,000,000 and occupied it beginning in January 1988. It was estimated at that time that its life would be 40 years,with no salvage value.In January 2008, a new roof was installed at a cost of $500,000, and it was estimatedthen that the building would have a useful life of 25 years from that date. The cost of theold roof was $200,000.Required:(a) What amount of depreciation should have been charged annually from the years1988 to 2007?(Assume straight-line depreciation.)(b) What entry should be made in 2008 to record the replacement of the roof?(c) Prepare the entry in January 2008, to record the revision in the estimated life of thebuilding, ifnecessary.(d) What amount of depreciation should be charged for the year 2008?Question Thirteen (7 points)At 12/31/06, the end of Feeney Company's first year of business, inventory was $4,100and $2,800 at cost and at market, respectively.Following is data relative to the 12/31/07 inventory of Feeney:Original Net Net Realizable AppropriateCost Replacement Realizable Value Less InventoryItem Per Unit Cost Value Normal Profit ValueA $ .65 $ .45B .45 .40C .70 .75D .75 .65E .90 .85Selling price is $1.00/unit for all items. Disposal costs amount to 10% of selling priceand a "normal" profit is 30% of selling price. There are 1,000 units of each item in the 12/31/07 inventory.Required:(a) Prepare the entry at 12/31/06 necessary to implement the lower-of-cost-or-marketprocedure assuming Feeney uses a contra account for its balance sheet.(b) Complete the last three columns in the 12/31/07 schedule above based upon thelower-of-cost-or-market rules.(c) Prepare the entry(ies) necessary at 12/31/07 based on the data above.Question Fourteen (8 points)On December 31, 2007, Brown Company finished consultation services and acceptedin exchange a promissory note with a face value of $400,000, a due date of December31, 2010, and a stated rate of 5%, with interest receivable at the end of each year. Thefair value of the services is not readily determinable and the note is not readily marketable. Under the circumstances, the note is considered to have an appropriateimputed rate of interest of 10%.The following interest factors are provided:Interest Rate Table Factors For Three Periods 5% 10%Future Value of 1 1.15763 1.33100Present Value of 1 .86384 .75132Future Value of Ordinary Annuity of 1 3.15250 3.31000Present Value of Ordinary Annuity of 1 2.72325 2.48685Required:(a) Determine the present value of the note.(b) Prepare a Schedule of Note Discount Amortization for Brown Company under theeffective interest method. (Round to whole dollars.) (Use the format below)Schedule of Note Discount AmortizationCash Effective Unamortized PresentInterest Interest Discount Discount Value Date (5%) (10%) Amortized Balance of Note12/31/0712/31/0812/31/0912/31/10(c) Prepare the entry for the interest receipt as of Dec. 31, 2008.。

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。