Chapter 03
小说连载：Pride And prejudice 傲慢与偏见 CHAPTER 03
NOT all that Mrs. Bennet, however, with the assistance of her five daughters, could ask on the subject was sufficient to draw from her husband any satisfactory description of Mr. Bingley. They attacked him in various ways; with barefaced questions, ingenious suppositions, and distant surmises; but he eluded the skill of them all; and they were at last obliged to accept the second-hand intelligence of their neighbour Lady Lucas. Her report was highly favourable. Sir William had been delighted with him. He was quite young, wonderfully handsome, extremely agreeable, and, to crown the whole, he meant to be at the next assembly with a large party. Nothing could be more delightful! To be fond of dancing was a certain step towards falling in love; and very lively hopes of Mr. Bingley's heart were entertained."If I can but see one of my daughters happily settled at Netherfield," said Mrs. Bennet to her husband, "and all the others equally well married, I shall have nothing to wish for."In a few days Mr. Bingley returned Mr. Bennet's visit, and sat about ten minutes with him in his library. He had entertained hopes of being admitted to a sight of the young ladies, of whose beauty he had heard much; but he saw only the father. The ladies were somewhat more fortunate, for they had the advantage of ascertaining, from an upper window, that he wore a blue coat and rode a black horse.An invitation to dinner was soon afterwards dispatched; and already had Mrs. Bennet planned the courses that were to do credit to her housekeeping, when an answer arrived which deferred it all. Mr. Bingley was obliged to be in town the following day, and consequently unable to accept the honour of their invitation, &c. Mrs. Bennet was quite disconcerted. She could not imagine what business he could have in town so soon after his arrival in Hertfordshire; and she began to fear that he might be always flying about from one place to another, and never settled at Netherfield as he ought to be. Lady Lucas quietedher fears a little by starting the idea of his being gone to London only to get a large party for the ball; and a report soon followed that Mr. Bingley was to bring twelve ladies and seven gentlemen with him to the assembly. The girls grieved over such a large number of ladies; but were comforted the day before the ball by hearing that, instead of twelve, he had brought only six with him from London, his five sisters and a cousin. And when the party entered the assembly room, it consisted of only five altogether; Mr. Bingley, his two sisters, the husband of the oldest, and another young man.Mr. Bingley was good looking and gentlemanlike; he had a pleasant countenance, and easy, unaffected manners. His brother-in-law, Mr. Hurst, merely looked the gentleman; but his friend Mr. Darcy soon drew the attention of the room by his fine, tall person, handsome features, noble mien; and the report which was in general circulation within five minutes after his entrance, of his having ten thousand a year. The gentlemen pronounced him to be a fine figure of a man, the ladies declared he was much handsomer than Mr. Bingley, and he was looked at with great admiration for about half the evening, till his manners gave a disgust which turned the tide of his popularity; for he was discovered to be proud, to be above his company, and above being pleased; and not all his large estate in Derbyshire could then save him from having a most forbidding, disagreeable countenance, and being unworthy to be compared with his friend.Mr. Bingley had soon made himself acquainted with all the principal people in the room; he was lively and unreserved, danced every dance, was angry that the ball closed so early, and talked of giving one himself at Netherfield. Such amiable qualities must speak for themselves. What a contrast between him and his friend! Mr. Darcy danced only once with Mrs. Hurst and once with Miss Bingley, declined being introduced to any other lady, and spent the rest of the evening in walking about the room, speaking occasionally to one of his ownparty. His character was decided. He was the proudest, most disagreeable man in the world, and every body hoped that he would never come there again. Amongst the most violent against him was Mrs. Bennet, whose dislike of his general behaviour was sharpened into particular resentment by his having slighted one of her daughters.Elizabeth Bennet had been obliged, by the scarcity of gentlemen, to sit down for two dances; and during part of that time, Mr. Darcy had been standing near enough for her to overhear a conversation between him and Mr. Bingley, who came from the dance for a few minutes to press his friend to join it."Come, Darcy," said he, "I must have you dance. I hate to see you standing about by yourself in this stupid manner. You had much better dance.""I certainly shall not. You know how I detest it, unless I am particularly acquainted with my partner. At such an assembly as this, it would be insupportable. Your sisters are engaged, and there is not another woman in the room whom it would not be a punishment to me to stand up with.""I would not be so fastidious as you are," cried Bingley, "for a kingdom! Upon my honour I never met with so many pleasant girls in my life, as I have this evening; and there are several of them, you see, uncommonly pretty.""You are dancing with the only handsome girl in the room," said Mr. Darcy, looking at the eldest Miss Bennet."Oh! she is the most beautiful creature I ever beheld! But there is one of her sisters sitting down just behind you, who is very pretty, and I dare say very agreeable. Do let me ask my partner to introduce you.""Which do you mean?" and turning round, he looked for a moment at Elizabeth, till catching her eye, he withdrew his own and coldly said, "She is tolerable; but not handsome enough to tempt me; and I am in no humour at present to give consequence to young ladies who are slighted by other men. You had better return to your partner and enjoy her smiles, for you are wasting your time with me."Mr. Bingley followed his advice. Mr. Darcy walked off; and Elizabeth remained with no very cordial feelings towards him. She told the story however with great spirit among her friends; for she had a lively, playful disposition, which delighted in any thing ridiculous.The evening altogether passed off pleasantly to the whole family. Mrs. Bennet had seen her eldest daughter much admired by the Netherfield party. Mr. Bingley had danced with her twice, and she had been distinguished by his sisters. Jane was as much gratified by this as her mother could be, though in a quieter way. Elizabeth felt Jane's pleasure. Mary had heard herself mentioned to Miss Bingley as the most accomplished girl in the neighbourhood; and Catherine and Lydia had been fortunate enough to be never without partners, which was all that they had yet learnt to care for at a ball. They returned therefore, in good spirits to Longbourn, the village where they lived, and of which they were the principal inhabitants. They found Mr. Bennet still up. With a book, he was regardless of time; and on the present occasion he had a good deal of curiosity as to the event of an evening which had raised such splendid expectations. He had rather hoped that all his wife's views on the stranger would be disappointed; but he soon found that he had a very different story to hear."Oh! my dear Mr. Bennet," as she entered the room, "we have had a most delightful evening, a most excellent ball. I wish you had been there. Jane was so admired, nothing could be like it. Every body saidhow well she looked; and Mr. Bingley thought her quite beautiful, and danced with her twice. Only think of that my dear; he actually danced with her twice; and she was the only creature in the room that he asked a second time. First of all, he asked Miss Lucas. I was so vexed to see him stand up with her; but, however, he did not admire her at all: indeed, nobody can, you know; and he seemed quite struck with Jane as she was going down the dance. So, he enquired who she was, and got introduced, and asked her for the two next. Then, the two third he danced with Miss King, and the two fourth with Maria Lucas, and the two fifth with Jane again, and the two sixth with Lizzy, and the Boulanger --""If he had had any compassion for me," cried her husband impatiently, "he would not have danced half so much! For God's sake, say no more of his partners. Oh! that he had sprained his ancle in the first dance!""Oh! my dear," continued Mrs. Bennet, "I am quite delighted with him. He is so excessively handsome! and his sisters are charming women. I never in my life saw any thing more elegant than their dresses. I dare say the lace upon Mrs. Hurst's gown --"Here she was interrupted again. Mr. Bennet protested against any description of finery. She was therefore obliged to seek another branch of the subject, and related, with much bitterness of spirit and some exaggeration, the shocking rudeness of Mr. Darcy."But I can assure you," she added, "that Lizzy does not lose much by not suiting his fancy; for he is a most disagreeable, horrid man, not at all worth pleasing. So high and so conceited that there was no enduring him! He walked here, and he walked there, fancying himself so very great! Not handsome enough to dance with! I wish you had been there, my dear, to have given him one of your set downs. I quite detest the man."中文翻译尽管班纳特太太有了五个女儿帮腔，向她丈夫问起彬格莱先生这样那样，可是丈夫的回答总不能叫她满意。
Chapter 3 Descriptive statistics(Numerical methods)
Chapter 3 Descriptirth noticing (1) Weight（权数）: The number to measure the importance (weights) of variables→ “f or f/∑f” ∑ [Example] During the “Oct. 1st”, 10 students go to different tourist site: Mt. Huang→5 persons, Mt. Wuyi→2 , Mt. Tai→2 , Mt. Laofu→1.
Total age 15 + 16 + 16 + L + 18 170 x= = = = 17 Number of persons 1+1+1+L+1 10
x1 + x 2 + x 3 + L + x n Σx ∴x = = = E ( x) 1+1+1+L+1 n Σx （1）Simple arithmentic mean：x = n
Difficulties
1. Mean； Mean； 2. Variance and standard deviation。 deviation。
Chapter 3 Descriptive statistics
STAT
Section 1 Central tendency and tendency of dispersion 1. Concepts tendency（集中趋势） 1） Central tendency（集中趋势）: The closer to middle the variable gets, the larger the frequency is. The reverse is also true. 2） Tendency of dispersion（离中趋势）: The tendency of dispersion（离中趋势） deviating and dispersed at the two ends.
Chapter03_PPT
13
3.2 Simple Program: Printing a Line of Text
Up arrow
Down arrow Parameter List window
Parameter Info window
Fig. 3.6
Parameter Info and Parameter List windows.
Chapter 3 – Introduction to Visual Basic Programming
Outline 3.1 3.2 3.3 3.4 3.5 3.6 3.7
1
Introduction Simple Program: Printing a Line of Text Another Simple Program: Adding Integers Memory Concepts Arithmetic Decision Making: Equality and Relational Operators Using a Dialog to Display a Message
2002 Prentice Hall. All rights reserved.
7
3.2 Simple Program: Printing a Line of Text
Left pane Right pane
Project name
File locationnsole Application with the New Project dialog.
2002 Prentice Hall. All rights reserved.
8
3.2 Simple Program: Printing a Line of Text
宏观经济学---曼昆chap03
National Income
Marginal product of labor (MPL )
definition: The extra output the firm can produce using an additional unit of labor (holding other inputs fixed): MPL = F (K, L +1) – F (K, L)
CHAPTER 3
National Income
Exercise: Compute & graph MPL
a. Determine MPL at each value of L.
b. Graph the production function. c. Graph the MPL curve with MPL on the vertical axis and L on the horizontal axis. L 0 1 2 3 4 5 6 7 8 9 10 Y 0 10 19 27 34 40 45 49 52 54 55 MPL n.a. ? ? 8 ? ? ? ? ? ? ?
Labor (L)
Labor (L)
CHAPTER 3
National Income
MPL and the production function
Y
output
MPL
As more labor is added, MPL
F (K , L)
1
MPL
1
MPL
1
Slope of the production function equals MPL
CHAPTER 3
CHAP03
6
Figure 3-2 -- Basic E-R Notation A special entity that is also a relationship
Entity symbols
Attribute symbols Relationship symbols
Chapter 3
Prentice Hall, 2002
– Simple versus Composite Attribute – Single-Valued versus Multivalued Attribute – Stored versus Derived Attributes – Identifier Attributes
Chapter 3
10
lines between entity types…the instance is between specific entity instances
Relationships can have attributes
– These describe features pertaining to the association between the
7
What Should an Entity Be?
SHOULD BE:
– An object that will have many instances in the
database – An object that will be composed of multiple attributes – An object that we are trying to model
15
Figure 3-8 -- Entity with a multivalued attribute (Skill) and derived attribute (Years_Employed) What's wrong with this?
chapter-03
Nebula M1-67 around star WR124
小结
不同初始质量恒星的演化结局
3. 超新星 (Supernovae) 和超新星遗迹 (Supernova Remnants) II/Ib/Ic型超新星—高质量恒星在演化末态发生的 剧烈爆炸。
星系M 51中的SN 1991T
特征：
光度L～107-1010 L⊙， Lf /Li ～ 108 爆发能E～1047-1052 ergs（其 中 中 微 子占 99% ，动 能占 1% ，可见光辐射占0.01%） 膨胀速度v～103-104 kms-1
不同质量主序星的演化时标
M (M⊙) tn (yr) 30 2×106 15 107 1.0 1010 0.5 6×1010
主序星的内部化学 组成的变化
随着核反应的进行，核 心区的H元素丰度逐渐 减小，直至枯竭，全部 转变成He。
演化路径 (Evolutionary Track)
核反应4 H → 4He →核心区粒子数n↓→Pc↓ → 核心收缩R c↓ R → 核心区温度Tc↑，核反应 产能率ε↑ → 光度L↑ → 包层压力P↑ → 恒星半径R↑ 主序带：主序星从核心H 燃烧开始到结束在H-R图 上占据的带状区域
(2) 热时标 (thermal timescale) 恒星辐射自身热能的时间，或光子从恒星内部到 达表面的时间。 tth ＝ (0.5GM2/R)/L ≈ (2×107 yr) (M/M⊙)2 (R/R⊙)−1 (L/L⊙)−1 (3) 动力学时标 (dynamical timescale) 如果恒星的内部压力突然消失，在引力作用下恒 星坍缩的时间。 td ＝ R/V ≈ (R3/GM)1/2 ≈ (27 min) (R/R⊙)3/2(M/M⊙)−1/2
Chapter03-Application Software
Next
Business Software
What is business software?
Application software that assists people in becoming more effective and efficient
p. 138 Fig. 3-4
Next
Business Software
Next
Business Software
What are popular word processing features?
AutoCorrect Columns AutoFormat Collaboration Macros
Grammar Checker Reading Layout Tables
Next
Business Software
What is note taking software?
Enables users to enter typed text, handwritten comments, drawings, or sketches anywhere on the page Notes are organized like a notebook
p. 135 Fig. 3-2
Next
Application Software
How do you start an application?
From the desktop, click the Start button, point to All Programs, and click the name of the application The program’s instructions load into memory
Chapter 03_SA&GP
3.1 How to Convert an LP to Standard Form
Before the simplex algorithm can be used to solve an LP, the LP must be converted into a problem where all the constraints are equality equations and all variables are nonnegative. An LP in this form is said to be in standard form.
15
3.4 Why Does LP Have an Optimal bfs?
Theorem 3 If an LP has an optimal solution, then it has an optimal bfs. Proof: Omitted.
For any LP with m constraints, two basic feasible solutions are said to be adjacent if their sets of basic variables have m – 1 basic variables in common.
7
3.2 Preview of the Simplex Algorithm
Consider a system Ax = b of m linear independent equations in n variables (where n ≥ m). A basic solution to Ax = b is obtained by setting n–m variables equal to 0 (But setting which variables?) & solving for the remaining m variables. By setting the n–m variables equal to 0, which yields a unique value for the remaining m variables.
文体学 Chapter 03
Tense That will be John. That was John. It is raining and I have nothing to do, so I suppose I might as well write.
It was raining and he or she had nothing to do.
• (rules for the) arrangement of words into phrases and phrases into sentences • Syntax refers to the rules for ordering and connecting words into sentences. What is the right way of arranging the elements in a sentence.
III. Sentence Types simple sentence
compound
multiple sentence complex
complex compound
Major : conforming to the regular patterns
SPOCA • consisting of a dependent clause • non-finite construction • phrase • elliptical sentence • abbreviated sentence • block language
(how) (what)
situation type dynamic
sub-type action
verb type agentive
participant roles
chapter03part01recommendation推荐系统.ppt
Recommender Systems
How do you know you can trust somebody’s recommendation?
Because experience has taught you? Because critic is trusted source of info? Because a friend/expert likes movies/novels/
Problems Cold-start: at initial stage, users can not get good recommendations Scalability Sparsity Users with different opinion or unusual taste may not get good recommendations
food you like? ???
Applications:
Book Recommender
Red Mars
Found ation
Jurassic Park
Lost World
2001
Difference Engine
Machine Lea User-Based
high correlation
like
A
B
C
Use user-item preferences
Explicit user ratings, transaction data
1. Find highly correlated users
Pearson correlation between user rating data
ru, j wa,u Pa, j uU wa,u ,
Chapter-03
宽松的；只要允 定期检查死锁 不延长进程初始化时间； 通过剥夺解除死锁，造 许，就分配资源 是否已经发生 允许对死锁进行现场处理 成损失
8
Deadlock Modeling (3)
Modeled with directed graphs 资源分配图(resource allocation graph)
Not all devices can be spooled Principle:
– avoid assigning resource when not absolutely necessary – as few processes as possible actually claim the resource
19
Safe and Unsafe States (2)
(a)
(b)
(c)
(d)
Demonstration that the sate in b is not safe
20
The Banker's Algorithm for a Single Resource
(a)
(b)
(c)
Three resource allocation states
– resource R assigned to process A – process B is requesting/waiting for resource S – process C and D are in deadlock over resources T and U
9
Deadlock Modeling (4)
24
Attacking the No Preemption Condition
This is not a viable option Consider a process given the printer
Chapter_03
iin iout
iin
R1 iout iin
R2 R1 R2
R iin iout
iout = B iin
=
iout =
kT/q R
ln B
Ref.: Widlar, JSSC Aug 69, 184-191
Willy Sansen
10-05 0311
vId
VId = √2 (VGS-VT) = √2 x 0.2 V
Willy Sansen
10-05 0326
Voltage differential amplifier with gmrDS gain
IB
M1 M1
vin1
vo1
vo2
vin2
VB
M2
Av = gm1(rDS1//rDS2)
Willy Sansen
- +
vod ic
Independent of :
vin2 IB VSS Noise on VDD : PSRRDD Noise on VSS : PSRRSS Noise on Ground : CMRR
Willy Sansen
10-05 0321
vin1
CMOS Voltage differential amplifier : DC range
Differential Voltage & Current amplifiers
Willy Sansen
KULeuven, ESAT-MICAS Leuven, Belgium
willy.sansen@esat.kuleuven.be
Willy Sansen
Principles of Finance (Chapter03)金融学原理
Informational Efficiency
3. Strong-form efficiency
current market prices reflect all pertinent information, whether publicly available or privately held even insiders cannot earn abnormal returns
Primary
corporations raise funds by issuing new securities
Secondary
securities are traded among investors after they have been issued
பைடு நூலகம்
Derivatives Markets
NASDAQ
The computerized trading network used by NASD is the NASD Automated Quotation System (NASDAQ) and is a sophisticated market of its own, separate from the OTC.
NASD
Many of the dealers and brokers of the OTC are members of the National Association of Securities Dealers (NASD), which licenses and oversees trading practices.
Financial Markets
A system comprised of individuals and institutions, instruments, and procedures that bring together borrowers and savers.
英国部分Chapter 03
Feudal System
This system of duties and rewards was called the Feudal System. In Normandy when barons or bishops were given land they had to swear an oath of loyalty to the lord who was giving it. This was called doing
1. The Hundred Year’s War 2. Joan of Arc
IV. The Black Death (1348-1349) and the Peasant Uprising (1381)
1. The Black Death 2. harm of the Black Death to the English society 3. The Lollards 4. Wat Tyler’s Uprising
英国社会与文化
2
I. Norman Rule (1066-1381)
1. William’s Rule (1066-1087) (1) The beginning of feudalism in England (2) feudalism in England under William the Conqueror
英国社会与文化 10
I. Norman Rule (1066-1381)
(4) quarrel between Henry II and Thomas Becket
Thomas Becket was Henry‟s intimate friend. Henry made Thomas Archbishop of Canterbury, hoping that he would assist him in carrying out legal reforms. A. Henry planned to reform the old Church Courts, to increase the jurisdiction of the civil courts at the expense of the church courts, to deprive the privileges enjoyed by the clergy
会计英语Chapter03
会计英语Chapter03Summary of Questions by Difficulty Level (DL) and Learning Objective (LO) True/False Item DL LO Item DL LO Item DL LO1.Easy C1 23.Hard C2 46.Easy P12.Easy C1 24.Hard C2 47.Easy P13.Med C1 25.Hard C2 48.Easy P14.Med C1 26.Easy C3 49.Easy P15.Easy C2 27.Easy C3 50.Easy P16.Easy C2 28.Easy C3 51.Easy P17.Easy C2 29.Easy C3 52.Med P18.Med C2 30.Easy C3 53.Med P19.Med C2 31.Med C3 54.Med P110.Med C2 32.Med C3 55.Med P111.Med C2 33.Med C3 56.Med P112.Med C2 34.Med C3 57.Hard P113.Med C2 35.Med C3 58.Hard P114.Med C2 36.Hard C3 59.Hard P115.Med C2 37.Med A1 60.Hard P116.Med C2 38.Med A1 61.Easy P217.Med C2 39.Hard A1 62.Easy P218.Med C2 40.Hard A1 63.Easy P319.Med C2 41.Easy A2 64.Easy P320.Med C2 42.Easy A2 65.Med P321.Hard C2 43.Med A2 66.Med P322.Hard C2 44.Med A2 67.Easy P445.Hard A2 68.Easy P4Multiple ChoiceItem DL LO Item DL LO Item DL LO69.Easy C1 93. Easy P1 117. Hard P170.Med C1 94. Easy P1 118. Hard P171.Med C1 95. Med P1 119. Hard P172.Med C1 96. Med P1 120. Hard P173.Med C1 97. Med P1 121. Hard P174.Easy C2 98. Med P1 122. Hard P175.Easy C2 99. Med P1 123. Hard P176.Med C2 100. Med P1 124. Hard P177.Med C2 101. Med P1 125. Hard P178.Med C2 102. Med P1 126. Hard P179.Med C2 103. Med P1 127. Hard P180.Med C2 104. Med P1 128. Hard P181.Med C2 105. Med P1 129. Hard P182.Hard C2 106. Med P1 130. Hard P183.Hard C2 107. Med P1 131. Easy P284.Med C3 108. Med P1 132. Easy P285.Med A1 109. Med P1 133. Med P286.Hard A1 110. Med P1 134. Med P287.Hard A1 111. Med P1 135. Easy P388.Hard A1 112. Med P1 136. Med P389.Easy A2 113. Med P1 137. Med P390.Easy A2 114. Med P1 138. Med P491.Med A2 115. Med P1 139. Med P492.Med A2 116. Hard P1MatchingItem DL LO Item DL LO Item DL LO 140. Med C1,C2 141. Med C1-C3 142. Med P1 P1,P2,A2 P2,P3Short EssayItem DL LO Item DL LO Item DL LO 143. Med C1 148. Hard C3 153. Hard P1 144. Med C2 149. Hard A1 154. Hard P1,P4 145. Med C2 150. Hard A2 155. Easy P2 146. Med C3 151. Easy P1 156. Easy P3 147. Med C3 152. Hard P1 157. Med ProblemsItem DL LO Item DL LO Item DL LO 158. Hard A1 169. Med P1 180. Med P1 159. Hard A1 170. Med P1 181. Hard P2 160. Hard A1 171. Med P1 182. Med P3 161. Hard A1 172. Med P1 183. Med P3 162. Med A2 173. Med P1 184. Med P3 163. Med A2 174. Med P1 185. Med P3 164. Med A2 175. Med P1 186. Med P3 165. Easy P1 176. Med P1 187. Med P3 166. Easy P1 177. Hard P1,P2 188. Med P4 167. Med P1 178. Hard P1,P2 189. Med P4 168. Med P1 179. Hard P1,P4Completion ProblemsItem DL LO Item DL LO Item DL LO 190. Med C1 196. Med C3 202. Easy P1 191. Med C2 197. Med C3 203. Easy P1 192. Med C2 198. Med C3 204. Easy P1 193. Hard C2 199. Med C3 205. Easy P1 194. Med C3 200. Hard A1 206. Med P2 195. Med C3 201. Easy A2 207. Med P3ProblemsItem DL LO Item DL LO Item DL LO208. Med C2, A1 210 Hard C2,P1,P3 212. Hard C2, P1,P3209. Med A2 211. Hard A2True / False Questions1. A company's fiscal year must correspond with the calendar year.FALSEAACSB: CommunicationsAICPA BB: IndustryAICPA FN: Decision MakingDifficulty: EasyLearning Objective: C12. The time period principle assumes that an organization's activities can be divided into specific time periods. TRUEAACSB: CommunicationsAICPA BB: IndustryAICPA FN: Decision MakingDifficulty: EasyLearning Objective: C13. Interim statements report a company's business activities for a 1-year period.FALSEAACSB: CommunicationsAICPA BB: IndustryAICPA FN: Decision MakingDifficulty: MediumLearning Objective: C14. A fiscal year refers to an organization's accounting period that spans twelve consecutive months or 52 weeks. TRUEAACSB: CommunicationsAICPA BB: IndustryAICPA FN: Decision MakingDifficulty: MediumLearning Objective: C15. Adjusting entries are made after the preparation of financial statements.FALSEAACSB: CommunicationsAICPA BB: IndustryAICPA FN: Decision MakingDifficulty: EasyLearning Objective: C26. Adjusting entries result in a better matching of revenues and expenses for the period. TRUEAACSB: CommunicationsAICPA BB: IndustryAICPA FN: Decision MakingDifficulty: EasyLearning Objective: C27. Two main accounting principles used in accrual accounting are matching and full closure. FALSEAACSB: CommunicationsAICPA BB: IndustryAICPA FN: Decision MakingDifficulty: EasyLearning Objective: C28. Adjusting entries are used to bring asset or liability accounts to their proper amount and update the related expense or revenue account.TRUEAACSB: CommunicationsAICPA BB: IndustryAICPA FN: Decision MakingDifficulty: MediumLearning Objective: C29. The matching principle requires that revenue not be assigned to the accounting period in which it is earned.FALSEAACSB: CommunicationsAICPA BB: IndustryAICPA FN: Decision MakingDifficulty: MediumLearning Objective: C210. The revenue recognition principle is the basis for making adjusting entries that pertain to unearned and accrued revenues.TRUEAACSB: CommunicationsAICPA BB: IndustryAICPA FN: Decision MakingDifficulty: MediumLearning Objective: C211. The cash basis of accounting commonly results in financial statements that are not comparable from period to period.TRUEAACSB: CommunicationsAICPA BB: IndustryAICPA FN: Decision MakingDifficulty: MediumLearning Objective: C212. Under the cash basis of accounting, no adjustments are made for prepaid, unearned, and accrued items.TRUEAACSB: CommunicationsAICPA BB: IndustryAICPA FN: Decision MakingDifficulty: MediumLearning Objective: C213. Since the revenue recognition principle requires that revenues be earned, there are no unearned revenues in accrual accounting.FALSEAACSB: CommunicationsAICPA BB: IndustryAICPA FN: Decision MakingDifficulty: MediumLearning Objective: C214. The matching principle requires that expenses get recorded in the same accounting period as the revenues that are earned as a result of the expenses, not when cash is paid.TRUEAACSB: CommunicationsAICPA BB: IndustryAICPA FN: Decision MakingDifficulty: MediumLearning Objective: C215. The cash basis of accounting is an accounting system in which revenues are reported when cash is received and expenses are reported when cash is paid.TRUEAACSB: CommunicationsAICPA BB: IndustryAICPA FN: Decision MakingDifficulty: MediumLearning Objective: C216. The cash basis of accounting recognizes revenues when cash payments from customers are received.TRUEAACSB: CommunicationsAICPA BB: IndustryAICPA FN: Decision MakingDifficulty: MediumLearning Objective: C217. The accrual basis of accounting recognizes revenues when cash is received from customers.FALSEAACSB: CommunicationsAICPA BB: IndustryAICPA FN: Decision MakingDifficulty: MediumLearning Objective: C218. The accrual basis of accounting recognized expenses when cash is paid.FALSEAACSB: CommunicationsAICPA BB: IndustryAICPA FN: Decision MakingDifficulty: MediumLearning Objective: C219. Recording revenues early overstates current-period income; recording revenues late understates current period income. TRUEAACSB: AnalyticAICPA BB: IndustryAICPA FN: Decision MakingDifficulty: MediumLearning Objective: C220. Recording expenses early overstates current-period income; recording expenses late understates current period income. FALSEAACSB: AnalyticAICPA BB: IndustryAICPA FN: Decision MakingDifficulty: MediumLearning Objective: C221. Prior to recording adjusting entries at the end of an accounting period, some accounts may not show proper financial statement amounts even though all transactions were correctly recorded.TRUEAACSB: CommunicationsAICPA BB: IndustryAICPA FN: Decision MakingDifficulty: HardLearning Objective: C222. A company paid $9,000 for a six-month insurance policy. The policy coverage began on February 1. On February 28, $150 of insurance expense must be recorded.FALSEExpense = $9,000/6 = $1,500AACSB: AnalyticAICPA BB: IndustryAICPA FN: MeasurementDifficulty: HardLearning Objective: C223. On October 15, a company received $15,000 cash as a down payment on a consulting contract. The amount was credited to Unearned Consulting Revenue. By October 31, 10% of the services required by the contract were completed. The company will record consulting revenue of $1,500 from this contract for October.TRUERevenue = $15,000 x 10% = $1,500AACSB: AnalyticAICPA BB: IndustryAICPA FN: MeasurementDifficulty: HardLearning Objective: C224. The accrual basis of accounting reflects the principle that revenue is recorded when it is earned, not when cash is received.TRUEAACSB: CommunicationsAICPA BB: IndustryAICPA FN: Decision MakingDifficulty: HardLearning Objective: C225. The accrual basis of accounting requires adjustments to recognize revenues in the periods they are earned and to match expenses with revenues.TRUEDifficulty: HardLearning Objective: C226. Adjusting entries are designed primarily to correct accounting errors.FALSEAACSB: CommunicationsAICPA BB: IndustryAICPA FN: Decision MakingDifficulty: EasyLearning Objective: C327. Adjustments are necessary to bring an asset or liability account to its proper amount and also update a related expense or revenue account.TRUEAACSB: CommunicationsAICPA BB: IndustryAICPA FN: Decision MakingDifficulty: EasyLearning Objective: C328. Each adjusting entry can only affect a balance sheet account.FALSEAACSB: CommunicationsAICPA BB: IndustryAICPA FN: Decision MakingDifficulty: EasyLearning Objective: C329. Accrued expenses at the end of one accounting period are expected to result in cash payments in a future period. TRUEAACSB: CommunicationsAICPA BB: IndustryAICPA FN: Decision MakingDifficulty: EasyLearning Objective: C330. Accrued revenues at the end of one accounting period are expected to result in cash payments in a future period. FALSEDifficulty: EasyLearning Objective: C331. Each adjusting entry affects only one or more income statement account and never cash. FALSEAACSB: CommunicationsAICPA BB: IndustryAICPA FN: Decision MakingDifficulty: MediumLearning Objective: C332. Accrued expenses reflect transactions where cash is paid before a related expense is recognized.FALSEAACSB: CommunicationsAICPA BB: IndustryAICPA FN: Decision MakingDifficulty: MediumLearning Objective: C333. Under the accrual basis of accounting, adjustments are often made for prepaid expenses and unearned revenues. TRUEAACSB: CommunicationsAICPA BB: IndustryAICPA FN: Decision MakingDifficulty: MediumLearning Objective: C334. The entry to record a cash receipt from a customer when the service to be provided has not yet been performed involvesa debit to an unearned revenue account.FALSEAACSB: AnalyticAICPA BB: IndustryAICPA FN: Decision MakingDifficulty: MediumLearning Objective: C335. Costs incurred during an accounting period but that are unpaid and unrecorded are accrued expenses.TRUEAACSB: CommunicationsAICPA BB: IndustryAICPA FN: Decision MakingDifficulty: MediumLearning Objective: C336. An adjusting entry often includes an entry to Cash.FALSEAACSB: CommunicationsAICPA BB: IndustryAICPA FN: Decision MakingDifficulty: HardLearning Objective: C337. Before an adjusting entry is made to recognize the cost of expired insurance for the period, Prepaid Insurance and Insurance Expense are both overstated.FALSEAACSB: AnalyticAICPA BB: IndustryAICPA FN: MeasurementDifficulty: MediumLearning Objective: A138. Before an adjusting entry is made to accrue employee salaries, Salaries Expense and Salaries Payable are both understated.TRUEAACSB: AnalyticAICPA BB: IndustryAICPA FN: MeasurementDifficulty: MediumLearning Objective: A139. Failure to record depreciation expense will overstate the asset and understate the expense. TRUEAACSB: AnalyticAICPA BB: IndustryAICPA FN: MeasurementDifficulty: HardLearning Objective: A140. A company's month-end adjusting entry for Insurance Expense is $1,000. If this entry is not made then expenses are understated by $1,000 and net income is overstated by $1,000. TRUEAACSB: AnalyticAICPA BB: IndustryAICPA FN: MeasurementDifficulty: HardLearning Objective: A141. Profit margin can also be called return on sales.TRUEAACSB: CommunicationsAICPA BB: IndustryAICPA FN: Decision MakingDifficulty: EasyLearning Objective: A242. Profit margin measures the relation of debt to assets.FALSEAACSB: CommunicationsAICPA BB: IndustryAICPA FN: Decision MakingDifficulty: EasyLearning Objective: A243. Profit margin reflects the percent of profit in each dollar of revenue.TRUEAACSB: CommunicationsAICPA BB: IndustryAICPA FN: Decision MakingDifficulty: MediumLearning Objective: A244. Profit margin is calculated by dividing net sales by net income.FALSEAACSB: CommunicationsAICPA BB: IndustryAICPA FN: Decision MakingDifficulty: MediumLearning Objective: A245. Ben and Jerry's had total assets of $149,501,000, net income of $6,242,000, and net sales of $209,203,000. Its profit margin was 2.98%.TRUE$6,242,000/$209,203,000 = 2.98%AACSB: AnalyticAICPA BB: IndustryAICPA FN: MeasurementDifficulty: HardLearning Objective: A246. A contra account is an account linked with another account; it is added to that account to show the proper amount for the item recorded in the associated account.FALSEAACSB: CommunicationsAICPA BB: IndustryAICPA FN: Decision MakingDifficulty: EasyLearning Objective: P147. If on January 1, 2009 a company paid $18,000 cash for one year of rent in advance and adjusting entries are made at the end of each month, the balance of Prepaid Rent as of December 1, 2009 should be $1,500.TRUE$18,000 x 1/12 = $1,500AACSB: AnalyticAICPA BB: IndustryAICPA FN: MeasurementDifficulty: EasyLearning Objective: P148. Accumulated depreciation is shown on the balance sheet as a subtraction from the cost of its related asset.TRUEAACSB: CommunicationsAICPA BB: IndustryAICPA FN: MeasurementDifficulty: EasyLearning Objective: P149. A salary owed to employees is an example of an accrued expense.TRUEAACSB: AnalyticAACSB: CommunicationsAICPA BB: IndustryAICPA FN: Decision MakingDifficulty: EasyLearning Objective: P150. In accrual accounting, accrued revenues are recorded as liabilities.FALSEAACSB: CommunicationsAICPA BB: IndustryAICPA FN: Decision MakingDifficulty: EasyLearning Objective: P151. Depreciation expense is an example of an accrued expense.FALSEAACSB: CommunicationsAICPA BB: IndustryAICPA FN: Decision MakingDifficulty: EasyLearning Objective: P152. Earned but uncollected revenues are recorded during the adjusting process with a credit to a revenue and a debit to an expense.FALSEAACSB: CommunicationsAICPA BB: IndustryAICPA FN: Decision MakingDifficulty: MediumLearning Objective: P153. Depreciation expense for a period is the portion of a plant asset's cost that is allocated to that period.TRUEAACSB: CommunicationsAICPA BB: IndustryAICPA FN: Decision MakingDifficulty: MediumLearning Objective: P154. All plant assets, including land, eventually wear out or decline in usefulness.FALSEAACSB: CommunicationsAICPA BB: IndustryAICPA FN: Decision MakingDifficulty: MediumLearning Objective: P155. Net income for a period will be overstated if accrued salaries are not recorded at the end of the accounting period. TRUEAACSB: AnalyticAICPA BB: IndustryAICPA FN: Decision MakingDifficulty: MediumLearning Objective: P156. Depreciation measures the decline in market value of an asset.FALSEAACSB: CommunicationsAICPA BB: IndustryAICPA FN: Decision MakingDifficulty: MediumLearning Objective: P157. A company owes its employees $5,000 for the year ended December 31. It will pay employees on January 6 for the previous two weeks' salaries. The year-end adjusting on entry on December 31 will include a debit to Salaries Expense and a credit to Cash.FALSEAACSB: AnalyticAICPA BB: IndustryAICPA FN: Decision MakingDifficulty: HardLearning Objective: P158. A company purchased $6,000 worth of supplies in August and recorded the purchase in the Supplies account. On August 31, the fiscal year-end, the supplies count equaled $3,200. The adjusting entry would include a $2,800 debit to Supplies. FALSEAACSB: AnalyticAICPA BB: IndustryAICPA FN: MeasurementDifficulty: HardLearning Objective: P1。
Chapter 03 - Premises and Equipment - 中英文对照
EUROPEAN COMMISSION欧盟委员会HEALTH AND CONSUMERS DIRECTORATE-GENERAL健康与消费者总司Health Systems and Products健康体系与产品Medicinal Products - Quality, safety and efficacy药品-质量、安全性与有效性Brussels, 13 August 2014布鲁塞尔，2014年08月13日Ares(2014)2674300EudraLexThe Rules Governing Medicinal Products in the European Union欧盟药品管理法规Volume 4第四卷EU Guidelines for欧盟指南Good Manufacturing Practice for Medicinal Products for Human and Veterinary Use人用与兽用药品生产质量管理规范Chapter 3第三章Premises and Equipment厂房与设备Legal basis for publishing the detailed guidelines: Article 47 of Directive 2001/83/EC on the Community code relating to medicinal products for human use and Article 51 of Directive 2001/82/EC on the Community code relating to veterinary medicinal products. This document provides guidance for the interpretation of the principles and guidelines of good manufacturing practice (GMP) for medicinal products as laid down in Directive 2003/94/EC for medicinal products for human use and Directive 91/412/EEC for veterinary use.发布详细指南的法律依据：欧盟法规有关的人用药品的第2001/83/EC 法令的第47款。
财务管理chapter3习题之欧阳理创编
Chapter 03 Financial Statements Analysis and Long-Term Planning Answer Key Multiple Choice Questions1. One key reason a long-term financial plan is developed is because: A. the plan determines your financial policy.B. the plan determines your investment policy.C. there are direct connections between achievable corporate growth and the financial policy.D. there is unlimited growth possible in a well-developed financial plan.E. None of the above.Difficulty level: EasyTopic: LONG-TERM PLANNINGType: DEFINITIONS c2. Projected future financial statements are called: A. plug statements.B. pro forma statements.C. reconciled statements.D. aggregated statements.E. none of the above.Difficulty level: EasyTopic: PRO FORMA STATEMENTSType: DEFINITIONS B3. The percentage of sales method: A. requires that all accounts grow at the same rate.B. separates accounts that vary with sales and those that do not vary with sales.C. allows the analyst to calculate how much financing the firm will need to support the predicted sales level.D. Both A and B.E. Both B and C.Difficulty level: MediumTopic: PERCENTAGE OF SALESType: DEFINITIONS E4. A _____ standardizes items on the income statement and balance sheet as a percentage of total sales and total assets, respectively. A. tax reconciliation statementB. statement of standardizationC. statement of cash flowsD. common-base year statementE. common-size statementDifficulty level: EasyTopic: COMMON-SIZE STATEMENTSType: DEFINITIONS E5. Relationships determined from a firm's financial information and used for comparison purposes are known as: A. financial ratios.B. comparison statements.C. dimensional analysis.D. scenario analysis.E. solvency analysis.ADifficulty level: EasyTopic: FINANCIAL RATIOSType: DEFINITIONS6. Financial ratios that measure a firm's ability to pay its bills over the short run without undue stress are known as _____ ratios. A. asset managementB. long-term solvencyC. short-term solvencyD. profitabilityE. market valueDifficulty level: EasyTopic: SHORT-TERM SOLVENCY RATIOSType: DEFINITIONS C7. The current ratio is measured as: A. current assets minus current liabilities.B. current assets divided by current liabilities.C. current liabilities minus inventory, divided by current assets.D. cash on hand divided by current liabilities.E. current liabilities divided by current assets.Difficulty level: EasyTopic: CURRENT RATIOType: DEFINITIONS B8. The quick ratio is measured as: A. current assets divided by current liabilities.B. cash on hand plus current liabilities, divided by current assets.C. current liabilities divided by current assets, plus inventory.D. current assets minus inventory, divided by current liabilities.E. current assets minus inventory minus current liabilities.Difficulty level: EasyTopic: QUICK RATIOType: DEFINITIONS D9. The cash ratio is measured as: A. current assets divided by current liabilities.B. current assets minus cash on hand, divided by current liabilities.C. current liabilities plus current assets, divided by cash on hand.D. cash on hand plus inventory, divided by current liabilities.E. cash on hand divided by current liabilities.Difficulty level: MediumTopic: CASH RATIOType: DEFINITIONS E10. Ratios that measure a firm's financial leverage are known as _____ ratios. A. asset managementB. long-term solvencyC. short-term solvencyD. profitabilityE. market valueDifficulty level: EasyTopic: LONG-TERM SOLVENCY RATIOSType: DEFINITIONS B11. The financial ratio measured as total assets minus total equity, divided by total assets, is the: A. total debt ratio.B. equity multiplier.C. debt-equity ratio.D. current ratio.E. times interest earned ratio.Difficulty level: EasyTopic: TOTAL DEBT RATIOType: DEFINITIONSA12. The debt-equity ratio is measured as total: A. equity minus total debt.B. equity divided by total debt.C. debt divided by total equity.D. debt plus total equity.E. debt minus total assets, divided by total equity.Difficulty level: EasyTopic: DEBT-EQUITY RATIOType: DEFINITIONS C13. The equity multiplier ratio is measured as total: A. equity divided by total assets.B. equity plus total debt.C. assets minus total equity, divided by total assets.D. assets plus total equity, divided by total debt.E. assets divided by total equity.Difficulty level: MediumTopic: EQUITY MULTIPLIERType: DEFINITIONS 14. The financial ratio measured as earnings before interest and taxes, divided by interest expense is the: A. cash coverage ratio.B. debt-equity ratio.C. times interest earned ratio.D. gross margin.E. total debt ratio. Difficulty level: MediumTopic: TIMES INTEREST EARNED RATIOType: DEFINITIONS15. The financial ratio measured as earnings before interest and taxes, plus depreciation, divided by interest expense, is the: A. cash coverage ratio.B. debt-equity ratio.C. times interest earned ratio.D. gross margin.E. total debt ratio.Difficulty level: MediumTopic: CASH COVERAGE RATIOType: DEFINITIONS 16. Ratios that measure how efficiently a firm uses its assets to generate sales are known as _____ ratios. A. asset managementB. long-term solvencyC. short-term solvencyD. profitabilityE. market valueDifficulty level: EasyTopic: ASSET MANAGEMENT RATIOSType: DEFINITIONS 17. The inventory turnover ratio is measured as: A. total sales minus inventory.B. inventory times total sales.C. cost of goods sold divided by inventory.D. inventory times cost of goods sold.E. inventory plus cost of goods sold.D ifficulty level: MediumTopic: INVENTORY TURNOVERType: DEFINITIONS18. The financial ratio days' sales in inventory is measured as: A. inventory turnover plus 365 days.B. inventory times 365 days.C. inventory plus cost of goods sold, divided by 365 days.D. 365 days divided by the inventory.E. 365 days divided by the inventory turnover.Difficulty level: MediumTopic: DAYS' SALES IN INVENTORYType: DEFINITIONS 19. The receivables turnover ratio is measured as: A. sales plus accounts receivable.B. sales divided by accounts receivable.C. sales minus accounts receivable, divided by sales.D. accounts receivable times sales.E. accounts receivable divided by sales.Difficulty level: MediumTopic: RECEIVABLES TURNOVERType: DEFINITIONS 20. The financial ratio days' sales in receivables is measured as: A. receivables turnover plus 365 days.B. accounts receivable times 365 days.C. accounts receivable plus sales, divided by 365 days.D. 365 days divided by the receivables turnover.E. 365 days divided by the accounts receivable.Difficulty level: MediumTopic: DAYS' SALES IN RECEIVABLESType: DEFINITIONS21. The total asset turnover ratio is measured as: A. sales minus total assets.B. sales divided by total assets.C. sales times total assets.D. total assets divided by sales.E. total assets plus sales.Difficulty level: EasyTopic: TOTAL ASSET TURNOVERType: DEFINITIONS 22. Ratios that measure how efficiently a firm's management uses its assets and equity to generate bottom line net income are known as _____ ratios. A. asset managementB. long-term solvencyC. short-term solvencyD. profitabilityE. market valueDifficulty level: EasyTopic: PROFITABILITY RATIOSType: DEFINITIONS 23. The financial ratio measured as net income divided by sales is known as the firm's: A. profit margin.B. return on assets.C. return on equity.D. asset turnover.E. earnings before interest and taxes.Difficulty level: EasyTopic: PROFIT MARGINType: DEFINITIONS24. The financial ratio measured as net income divided by total assets is known as the firm's: A. profit margin.B. return on assets.C. return on equity.D. asset turnover.E. earnings before interest and taxes.Difficulty level: EasyTopic: RETURN ON ASSETSType: DEFINITIONS 25. The financial ratio measured as net income divided by total equity is known as the firm's: A. profit margin.B. return on assets.C. return on equity.D. asset turnover.E. earnings before interest and taxes. Difficulty level: EasyTopic: RETURN ON EQUITYType: DEFINITIONS 26. The financial ratio measured as the price per share of stock divided by earnings per share is known as the: A. return on assets.B. return on equity.C. debt-equity ratio.D. price-earnings ratio.E. Du Pont identity.Difficulty level: EasyTopic: PRICE-EARNINGS RATIOType: DEFINITIONS27. The market-to-book ratio is measured as: A. total equity divided by total assets.B. net income times market price per share of stock.C. net income divided by market price per share of stock.D. market price per share of stock divided by earnings per share.E. market value of equity per share divided by book value of equity per share.Difficulty level: MediumTopic: MARKET-TO-BOOK RATIOType: DEFINITIONS 28. The _____ breaks down return on equity into three component parts. A. Du Pont identityB. return on assetsC. statement of cash flowsD. asset turnover ratioE. equity multiplierDifficulty level: MediumTopic: DU PONT IDENTITYType: DEFINITIONS 29. The External Funds Needed (EFN) equation does not measure the: A. additional asset requirements given a change in sales.B. additional total liabilities raised given the change in sales.C. rate of return to shareholders given the change in sales.D. net income expected to be earned given the change in sales.E. None of the above.Difficulty level: MediumTopic: EXTERNAL FUNDS NEEDEDType: DEFINITIONS30. To calculate sustainable growth rate without using return on equity, the analyst needs the: A. profit margin.B. payout ratio.C. debt-to-equity ratio.D. total asset turnover.E. All of the above.Difficulty level: MediumTopic: SUSTAINABLE GROWTH RATEType: DEFINITIONS 31. Growth can be reconciled with the goal of maximizing firm value: A. because greater growth always adds to value.B. because growth must be an outcome of decisions that maximize NPV.C. because growth and wealth maximization are the same.D. because growth of any type cannot decrease value.E. None of the above.Difficulty level: MediumTopic: GROWTHType: DEFINITIONS 32. Sustainable growth can be determined by the: A. profit margin, total asset turnover and the price to earnings ratio.B. profit margin, the payout ratio, the debt-to-equity ratio, and the asset requirement or asset turnover ratio.C. Total growth less capital gains growth.D. Either A or B.E. None of the above.Difficulty level: MediumTopic: SUSTAINABLE GROWTHType: DEFINITIONS33. Which of the following will increase sustainable growth? A. Buy back existing stockB. Decrease debtC. Increase profit marginD. Increase asset requirement or asset turnover ratioE. Increase dividend payout ratioDifficulty level: MediumTopic: SUSTAINABLE GROWTHType: DEFINITIONS 34. The main objective of long-term financial planning models is to: A. determine the asset requirements given the investment activities of the firm.B. plan for contingencies or uncertain events.C. determine the external financing needs.D. All of the above.E. None of the above.Difficulty level: MediumTopic: LONG-TERM PLANNINGType: DEFINITIONS 35. On a common-size balance sheet, all _____ accounts are shown as a percentage of _____. A. income; total assetsB. liability; net incomeC. asset; salesD. liability; total assetsE. equity; sales Difficulty level: MediumTopic: COMMON-SIZE BALANCE SHEETType: DEFINITIONS36. Which one of the following statements is correct concerning ratio analysis? A. A single ratio is often computed differently by different individuals.B. Ratios do not address the problem of size differences among firms.C. Only a very limited number of ratios can be used for analytical purposes.D. Each ratio has a specific formula that is used consistently by all analysts.E. Ratios can not be used for comparison purposes over periods of time.Difficulty level: MediumTopic: RATIO ANALYSISType: DEFINITIONS 37. Which of the following are liquidity ratios?I. cash coverage ratioII. current ratioIII. quick ratioIV. inventory turnover A. II and III onlyB. I and II onlyC. II, III, and IV onlyD. I, III, and IV onlyE. I, II, III, and IVDifficulty level: MediumTopic: LIQUIDITY RATIOSType: DEFINITIONS 38. An increase in which one of the following accounts increases a firm's current ratio without affecting its quick ratio? A. accounts payableB. cashC. inventoryD. accounts receivableE. fixed assetsDifficulty level: MediumTopic: LIQUIDITY RATIOSType: DEFINITIONS39. A supplier, who requires payment within ten days, is most concerned with which one of the following ratios when granting credit? A. currentB. cashC. debt-equityD. quickE. total debtDifficulty level: MediumTopic: LIQUIDITY RATIOSType: DEFINITIONS 40. A firm has a total debt ratio of .47. This means that that firm has 47 cents in debt for every: A. $1 in equity.B. $1 in total sales.C. $1 in current assets.D. $.53 in equity.E. $.53 in total assets.Difficulty level: MediumTopic: LONG-TERM SOLVENCY RATIOSType: DEFINITIONS 41. The long-term debt ratio is probably of most interest to a firm's: A. credit customers.B. employees.C. suppliers.D. mortgageholder.E. shareholders.Difficulty level: MediumTopic: LONG-TERM SOLVENCY RATIOSType: DEFINITIONS42. A banker considering loaning a firm money for ten years would most likely prefer the firm have a debt ratio of _____ and a times interest earned ratio of _____. A. .75; .75B. .50;1.00C. .45; 1.75D. .40;2.50E. .35;3.00Difficulty level: MediumTopic: LONG-TERM SOLVENCY RATIOSType: DEFINITIONS 43. From a cash flow position, which one of the following ratios best measures a firm's ability to pay the interest on its debts? A. times interest earned ratioB. cash coverage ratioC. cash ratioD. quick ratioE. Interval measureDifficulty level: MediumTopic: LONG-TERM SOLVENCY RATIOSType: DEFINITIONS 44. The higher the inventory turnover measure, the: A. faster a firm sells its inventory.B. faster a firm collects payment on its sales.C. longer it takes a firm to sell its inventory.D. greater the amount of inventory held by a firm.E. lesser the amount of inventory held by a firm.Difficulty level: MediumTopic: ASSET MANAGEMENT RATIOSType: DEFINITIONS45. Which one of the following statements is correct if a firm has a receivables turnover measure of 10? A. It takes a firm 10 days to collect payment from its customers.B. It takes a firm 36.5 days to sell its inventory and collect the payment from the sale.C. It takes a firm 36.5 days to pay its creditors.D. The firm has an average collection period of 36.5 days.E. The firm has ten times more in accounts receivable than it does in cash.Difficulty level: MediumTopic: ASSET MANAGEMENT RATIOSType: DEFINITIONS 46. A total asset turnover measure of 1.03 means that a firm has $1.03 in: A. total assets for every $1 in cash.B. total assets for every $1 in total debt.C. total assets for every $1 in equity.D. sales for every $1 in total assets.E. long-term assets for every $1 in short-term assets.Difficulty level: MediumTopic: ASSET MANAGEMENT RATIOSType: DEFINITIONS 47. Puffy's Pastries generates five cents of net income for every $1 in sales. Thus, Puffy's has a _____ of 5%. A. return on assetsB. return on equityC. profit marginD. Du Pont measureE. total asset turnoverDifficulty level: MediumTopic: PROFITABILITY RATIOSType: DEFINITIONS48. If a firm produces a 10% return on assets and also a 10% return on equity, then the firm: A. has no debt of any kind.B. is using its assets as efficiently as possible.C. has no net working capital.D. also has a current ratio of 10.E. has an equity multiplier of 2.Difficulty level: MediumTopic: PROFITABILITY RATIOSType: DEFINITIONS 49. If shareholders want to know how much profit a firm is making on their entire investment in the firm, the shareholders should look at the: A. profit margin.B. return on assets.C. return on equity.D. equity multiplier.E. earnings per share.Difficulty level: MediumTopic: PROFITABILITY RATIOSType: DEFINITIONS 50. BGL Enterprises increases its operating efficiency such that costs decrease while sales remain constant. As a result, given all else constant, the: A. return on equity will increase.B. return on assets will decrease.C. profit margin will decline.D. equity multiplier will decrease.E. price-earnings ratio will increase.Difficulty level: MediumTopic: PROFITABILITY RATIOSType: DEFINITIONS51. The only difference between Joe's and Moe's is that Joe's has old, fully depreciated equipment. Moe's just purchased all new equipment which will be depreciated over eight years. Assuming all else equal: A. Joe's will have a lower profit margin.B. Joe's will have a lower return on equity.C. Moe's will have a higher net income.D. Moe's will have a lower profit margin.E. Moe's will have a higher return on assets.Difficulty level: MediumTopic: PROFITABILITY RATIOSType: DEFINITIONS 52. Last year, Alfred's Automotive had a price-earnings ratio of 15. This year, the price earnings ratio is 18. Based on this information, it can be stated with certainty that: A. the price per share increased.B. the earnings per share decreased.C. investors are paying a higher price for each share of stock purchased.D. investors are receiving a higher rate of return this year.E. either the price per share, the earnings per share, or both changed.Difficulty level: MediumTopic: MARKET VALUE RATIOSType: DEFINITIONS 53. Turner's Inc. has a price-earnings ratio of 16. Alfred's Co. has a price-earnings ratio of 19. Thus, you can state with certainty that one share of stock in Alfred's: A. has a higher market price than one share of stock in Turner's.B. has a higher market price per dollar of earnings than does one share of Turner's.C. sells at a lower price per share than one share of Turner's.D. represents a larger percentage of firm ownership than does one share of Turner's stock.E. earns a greater profit per share than does one share of Turner's stock.Difficulty level: MediumTopic: MARKET VALUE RATIOType: DEFINITIONS54. Which two of the following are most apt to cause a firm to have a higher price-earnings ratio?I. slow industry outlookII. high prospect of firm growthIII. very low current earningsIV. investors with a low opinion of the firm A. I and II onlyB. II and III onlyC. II and IV onlyD. I and III onlyE. III and IV onlyDifficulty level: MediumTopic: MARKET VALUE RATIOSType: DEFINITIONS 55. Vinnie's Motors has a market-to-book ratio of 3. The book value per share is $4.00. Holding market-to-book constant, a $1 increase in the book value per share will: A. cause the accountants to increase the equity of the firm by an additional $2.B. increase the market price per share by $1.C. increase the market price per share by $12.D. tend to cause the market price per share to rise.E. only affect book values but not market values.Difficulty level: MediumTopic: MARKET VALUE RATIOSType: DEFINITIONS 56. Which one of the following sets of ratios applies most directly to shareholders? A. return on assets and profit marginB. quick ratio and times interest earnedC. price-earnings ratio and debt-equity ratioD. market-to-book ratio and price-earnings ratioE. cash coverage ratio and times equity multiplier Difficulty level: MediumTopic: MARKET VALUE RATIOSType: DEFINITIONS57. The three parts of the Du Pont identity can be generally described as:I. operating efficiency, asset use efficiency and firm profitability.II. financial leverage, operating efficiency and asset use efficiency.III. the equity multiplier, the profit margin and the total asset turnover.IV. the debt-equity ratio, the capital intensity ratio and the profit margin. A. I and II onlyB. II and III onlyC. I and IV onlyD. I and III onlyE. III and IV onlyDifficulty level: MediumTopic: DU PONT IDENTITYType: DEFINITIONS 58. If a firm decreases its operating costs, all else constant, then: A. the profit margin increases while the equity multiplier decreases.B. the return on assets increases while the return on equity decreases.C. the total asset turnover rate decreases while the profit margin increases.D. both the profit margin and the equity multiplier increase.E. both the return on assets and the return on equity increase.Difficulty level: MediumTopic: DU PONT IDENTITYType: DEFINITIONS 59. Which one of the following statements is correct? A. Book values should always be given precedence over market values.B. Financial statements are frequently the basis used for performance evaluations.C. Historical information has no value when predicting the future.D. Potential lenders place little value on financial statement information.E. Reviewing financial information over time has very limited value.Difficulty level: MediumTopic: EVALUATING FINANCIAL STATEMENTSType: DEFINITIONS60. It is easier to evaluate a firm using its financial statements when the firm: A. is a conglomerate.B. is global in nature.C. uses the same accounting procedures as other firms in its industry.D. has a different fiscal year than other firms in its industry.E. tends to have one-time events such as asset sales and property acquisitions.Difficulty level: MediumTopic: EVALUATING FINANCIAL STATEMENTSType: DEFINITIONS 61. Which two of the following represent the most effective methods of directly evaluating the financial performance of a firm?I. comparing the current financial ratios to those of the same firm from prior time periodsII. comparing a firm's financial ratios to those of other firms in the firm's peer group who have similar operationsIII. comparing the financial statements of the firm to the financial statements of similar firms operating in other countriesIV. comparing the financial ratios of the firm to the average ratios of all firms located in the same geographic area A. I and II onlyB. II and III onlyC. III and IV onlyD. I and IV onlyE. I and III onlyDifficulty level: MediumTopic: EVALUATING FINANCIAL STATEMENTSType: DEFINITIONS 62. In the financial planning model, external funds needed (EFN) is equal to changes in A. assets - (liabilities - equity).B. assets - (liabilities + equity).C. (assets + liabilities - equity).D. (assets + equity - liabilities).E. assets - equity. Difficulty level: MediumTopic: EXTERNAL FUNDS NEEDEDType: DEFINITIONS63. Which of the following represent problems encountered when comparing the financial statements of one firm with those of another firm?I. Either one, or both, of the firms may be conglomerates and thus have unrelated lines of business.II. The operations of the two firms may vary geographically.III. The firms may use differing accounting methods for inventory purposes.IV. The two firms may be seasonal in nature and have different fiscal year ends. A. I and II onlyB. II and III onlyC. I, III, and IV onlyD. I, II, and III onlyE. I, II, III, and IVDifficulty level: MediumTopic: EVALUATING FINANCIAL STATEMENTSType: DEFINITIONS 64. A firm's sustainable growth rate in sales directly depends on its: A. debt to equity ratio.B. profit margin.C. dividend policy.D. asset efficiency.E. All of the above.Difficulty level: MediumTopic: SUSTAINABLE GROWTH RATEType: DEFINITIONS 65. The sustainable growth rate will be equivalent to the internal growth rate when: A. a firm has no debt.B. the growth rate is positive.C. the plowback ratio is positive but less than 1.D. a firm has a debt-equity ratio exactly equal to 1.E. net income is greater than zero.Difficulty level: MediumTopic: SUSTAINABLE GROWTH RATEType: DEFINITIONS66. The sustainable growth rate: A. assumes there is no external financing of any kind.B. is normally higher than the internal growth rate.C. assumes the debt-equity ratio is variable.D. is based on receiving additional external debt and equity financing.E. assumes that 100% of all income is retained by the firm.Difficulty level: MediumTopic: SUSTAINABLE GROWTH RATEType: DEFINITIONS 67. If a firm bases its growth projection on the rate of sustainable growth, and shows positive net income, then the: A. fixed assets will have to increase at the same rate, regardless of the current capacity level.B. number of common shares outstanding will increase at the same rate of growth.C. debt-equity ratio will have to increase.D. debt-equity ratio will remain constant while retained earnings increase.E. fixed assets, debt-equity ratio, and number of common shares outstanding will all increase.Difficulty level: MediumTopic: SUSTAINABLE GROWTH RATEType: DEFINITIONS 68. Marcie's Mercantile wants to maintain its current dividend policy, which is a payout ratio of 40%. The firm does not want to increase its equity financing but is willing to maintain its current debt-equity ratio. Given these requirements, the maximum rate at which Marcie's can grow is equal to: A. 40% of the internal rate of growth.B. 60% of the internal rate of growth.C. the internal rate of growth.D. the sustainable rate of growth.E. 60% of the sustainable rate of growth.Difficulty level: MediumTopic: SUSTAINABLE GROWTH RATEType: DEFINITIONS69. One of the primary weaknesses of many financial planning models is that they: A. rely too much on financial relationships and too little on accounting relationships.B. are iterative in nature.C. ignore the goals and objectives of senior management.D. are based solely on best case assumptions.E. ignore the size, risk, and timing of cash flows.Difficulty level: MediumTopic: FINANCIAL PLANNING MODELSType: DEFINITIONS 70. Financial planning, when properly executed: A. ignores the normal restraints encountered by a firm.B. ensures that the primary goals of senior management are fully achieved.C. reduces the necessity of daily management oversight of the business operations.D. helps ensure that proper financing is in place to support the desired level of growth.E. eliminates the need to plan more than one year in advance.Difficulty level: MediumTopic: FINANCIAL PLANNINGType: DEFINITIONS 71. When examining the EBITDA ratio, lower numbers are: A. considered good.B. considered mediocre.C. considered poor.D. indifferent to higher numbers.E. it is impossible to garner information from this ratio.Difficulty level: MediumTopic: EBITDA RATIOType: DEFINITIONS72. A firm's market capitalization is equal to: A. total book value of assets less book value of debt.B. par value of common equity.C. firm's stock price multiplied by number of shares outstanding.D. firm's stock price multiplied by the number of shares authorized.E. the maximum value an acquirer would pay for a firm in an acquisition.Difficulty level: MediumTopic: MARKET CAPITALIZATIONType: DEFINITIONS 73. Enterprise value focused on: A. market values of debt and equity.B. book values of debt and assets.C. market value of equity and book value of debt.D. book value if debt and market value of equity.E. book values of debt and equity. Difficulty level: MediumTopic: ENTERPRISE VALUEType: DEFINITIONS 74. A firm has sales of $1,200, net income of $200, net fixed assets of $500, and current assets of $300. The firm has $100 in inventory. What is the common-size statement value of inventory? A. 8.3%B. 12.5%C. 20.0%D. 33.3%E. 50.0%Common-size inventory = $100 ($500 + $300) = .125 = 12.5%Difficulty level: MediumTopic: COMMON-SIZE STATEMENTSType: PROBLEMS75. A firm has sales of $1,500, net income of $100, total assets of $1,000, and total equity of $700. Interest expense is $50. What is the common-size statement value of the interest expense? A. 3.3%B. 5.0%C. 7.1%D. 16.7%E. 50.0%Common-size interest = $50 $1,500 = .033 = 3.3%Difficulty level: MediumTopic: COMMON-SIZE STATEMENTSType: PROBLEMS 76. Jessica's Boutique has cash of $50, accounts receivable of $60, accounts payable of $200, and inventory of $150. What is the value of the quick ratio? A. .30B. .55C. .77D. 1.30E. 1.82Quick ratio = ($50 + $60) $200 = .55Difficulty level: MediumTopic: LIQUIDITY RATIOSType: PROBLEMS。
公司理财精要版原书第12版习题库答案Ross12e_Chapter03_TB
Fundamentals of Corporate Finance, 12e (Ross)Chapter 3 Working with Financial Statements1) Which one of the following is a source of cash for a tax-exempt firm?A) Increase in accounts receivableB) Increase in depreciationC) Decrease in accounts payableD) Increase in common stockE) Increase in inventory2) Which one of the following is a use of cash?A) Decrease in fixed assetsB) Decrease in inventoryC) Increase in long-term debtD) Decrease in accounts receivablesE) Decrease in accounts payable3) Which one of the following is a source of cash?A) Repurchase of common stockB) Acquisition of debtC) Purchase of inventoryD) Payment to a supplierE) Granting credit to a customer4) Which one of the following is a source of cash?A) Increase in accounts receivableB) Decrease in common stockC) Increase in fixed assetsD) Decrease in accounts payableE) Decrease in inventory5) On the statement of cash flows, which one of the following is considered a financing activity?A) Increase in inventoryB) Decrease in accounts payableC) Increase in net working capitalD) Dividends paidE) Decrease in fixed assets6) On the statement of cash flows, which one of the following is considered an operating activity?A) Increase in net fixed assetsB) Decrease in accounts payableC) Purchase of equipmentD) Dividends paidE) Repayment of long-term debt7) According to the statement of cash flows, an increase in inventory will ________ the cash flow from ________ activities.A) increase; operatingB) decrease; financingC) decrease; operatingD) increase; financingE) increase; investment8) According to the statement of cash flows, an increase in interest expense will ________ the cash flow from ________ activities.A) decrease; operatingB) decrease; financingC) increase; operatingD) increase; financingE) Increase; investment9) Activities of a firm that require the spending of cash are known as:A) sources of cash.B) uses of cash.C) cash collections.D) cash receipts.E) cash on hand.10) The sources and uses of cash over a stated period of time are reflected on the:A) income statement.B) balance sheet.C) tax reconciliation statement.D) statement of cash flows.E) statement of operating position.11) A common-size income statement is an accounting statement that expresses all of a firm's expenses as a percentage of:A) total assets.B) total equity.C) net income.D) taxable income.E) sales.12) Which one of the following standardizes items on the income statement and balance sheet relative to their values as of a chosen point in time?A) Statement of standardizationB) Statement of cash flowsC) Common-base year statementD) Common-size statementE) Base reconciliation statement13) On a common-size balance sheet all accounts for the current year are expressed as a percentage of:A) sales for the period.B) the base year sales.C) total equity for the base year.D) total assets for the current year.E) total assets for the base year.14) On a common-base year financial statement, accounts receivables for the current year will be expressed relative to which one of the following?A) Current year salesB) Current year total assetsC) Base-year salesD) Base-year total assetsE) Base-year accounts receivables15) Which one of the following ratios is a measure of a firm's liquidity?A) Cash coverage ratioB) Profit marginC) Debt-equity ratioD) Quick ratioE) NWC turnover16) An increase in current liabilities will have which one of the following effects, all else held constant? Assume all ratios have positive values.A) Increase in the cash ratioB) Increase in the net working capital to total assets ratioC) Decrease in the quick ratioD) Decrease in the cash coverage ratioE) Increase in the current ratio17) An increase in which one of the following will increase a firm's quick ratio without affecting its cash ratio?A) Accounts payableB) CashC) InventoryD) Accounts receivableE) Fixed assets18) A supplier, who requires payment within 10 days, should be most concerned with which one of the following ratios when granting credit?A) CurrentB) CashC) Debt-equityD) QuickE) Total debt19) A firm has an interval measure of 48. This means that the firm has sufficient liquid assets to do which one of the following?A) Pay all of its debts that are due within the next 48 hoursB) Pay all of its debts that are due within the next 48 daysC) Cover its operating costs for the next 48 hoursD) Cover its operating costs for the next 48 daysE) Meet the demands of its customers for the next 48 hours20) Ratios that measure a firm's liquidity are known as ________ ratios.A) asset managementB) long-term solvencyC) short-term solvencyD) profitabilityE) book value21) Which one of the following statements is correct?A) If the total debt ratio is greater than .50, then the debt-equity ratio must be less than 1.0.B) Long-term creditors would prefer the times interest earned ratio be 1.4 rather than 1.5.C) The debt-equity ratio can be computed as 1 plus the equity multiplier.D) An equity multiplier of 1.2 means a firm has $1.20 in sales for every $1 in equity.E) An increase in the depreciation expense will not affect the cash coverage ratio.22) If a firm has a debt-equity ratio of 1.0, then its total debt ratio must be which one of the following?A) 0B) .5C) 1.0D) 1.5E) 2.023) The cash coverage ratio directly measures the ability of a company to meet its obligation to pay:A) an invoice to a supplier.B) wages to an employee.C) interest to a lender.D) principal to a lender.E) a dividend to a shareholder.24) All-State Moving had sales of $899,000 in 2017 and $967,000 in 2018. The firm's current accounts remained constant. Given this information, which one of the following statements must be true?A) The total asset turnover rate increased.B) The days' sales in receivables increased.C) The net working capital turnover rate increased.D) The fixed asset turnover decreased.E) The receivables turnover rate decreased.25) The Corner Hardware has succeeded in increasing the amount of goods it sells while holding the amount of inventory on hand at a constant level. Assume that both the cost per unit and the selling price per unit also remained constant. This accomplishment will be reflected in the firm's financial ratios in which one of the following ways?A) Decrease in the inventory turnover rateB) Decrease in the net working capital turnover rateC) Increase in the fixed asset turnover rateD) Decrease in the day's sales in inventoryE) Decrease in the total asset turnover rate26) RJ's has a fixed asset turnover rate of 1.26 and a total asset turnover rate of .97. Sam's has a fixed asset turnover rate of 1.31 and a total asset turnover rate of .94. Both companies have similar operations. Based on this information, RJ's must be doing which one of the following?A) Utilizing its fixed assets more efficiently than Sam'sB) Utilizing its total assets more efficiently than Sam'sC) Generating $1 in sales for every $1.26 in net fixed assetsD) Generating $1.26 in net income for every $1 in net fixed assetsE) Maintaining the same level of current assets as Sam's27) Ratios that measure how efficiently a firm manages its assets and operations to generate net income are referred to as ________ ratios.A) asset managementB) long-term solvencyC) short-term solvencyD) profitabilityE) turnover28) If a company produces a return on assets of 14 percent and also a return on equity of 14 percent, then the firm:A) may have short-term, but not long-term debt.B) is using its assets as efficiently as possible.C) has no net working capital.D) has a debt-equity ratio of 1.0.E) has an equity multiplier of 1.0.29) Which one of the following will decrease if a firm can decrease its operating costs, all else constant?A) Return on equityB) Return on assetsC) Profit marginD) Total asset turnoverE) Price-earnings ratio30) Al's has a price-earnings ratio of 18.5. Ben's also has a price-earnings ratio of 18.5. Which one of the following statements must be true if Al's has a higher PEG ratio than Ben's?A) Al's has more net income than Ben's.B) Ben's is increasing its earnings at a faster rate than Al's.C) Al's has a higher market value per share than does Ben's.D) Ben's has a lower market-to-book ratio than Al's.E) Al's has a higher earnings growth rate than Ben's.31) Tobin's Q relates the market value of a firm's assets to which one of the following?A) Initial cost of creating the firmB) Current book value of the firmC) Average asset value of similar firmsD) Average market value of similar firmsE) Today's cost to duplicate those assets32) The price-sales ratio is especially useful when analyzing firms that have:A) volatile market prices.B) negative earnings.C) positive PEG ratios.D) a high Tobin's Q.E) increasing sales.33) Mortgage lenders probably have the most interest in the ________ ratios.A) return on assets and profit marginB) long-term debt and times interest earnedC) price-earnings and debt-equityD) market-to-book and times interest earnedE) return on equity and price-earnings34) Relationships determined from a company's financial information and used for comparison purposes are known as:A) financial ratios.B) identities.C) dimensional analysis.D) scenario analysis.E) solvency analysis.35) DL Farms currently has $600 in debt for every $1,000 in equity. Assume the company uses some of its cash to decrease its debt while maintaining its current equity and net income. Which one of the following will decrease as a result of this action?A) Equity multiplierB) Total asset turnoverC) Profit marginD) Return on assetsE) Return on equity36) Which one of these identifies the relationship between the return on assets and the return on equity?A) Profit marginB) Profitability determinantC) Balance sheet multiplierD) DuPont identityE) Debt-equity ratio37) Which one of the following accurately describes the three parts of the DuPont identity?A) Equity multiplier, profit margin, and total asset turnoverB) Debt-equity ratio, capital intensity ratio, and profit marginC) Operating efficiency, equity multiplier, and profitability ratioD) Return on assets, profit margin, and equity multiplierE) Financial leverage, operating efficiency, and profitability ratio38) An increase in which of the following must increase the return on equity, all else constant?A) Total assets and salesB) Net income and total equityC) Total asset turnover and debt-equity ratioD) Equity multiplier and total equityE) Debt-equity ratio and total debt39) Which one of the following is a correct formula for computing the return on equity?A) Profit margin × ROAB) ROA × Equity multiplierC) Profit margin × Total asset turnover × Debt-equity ratioD) Net income/Total assetsE) Debt-equity ratio × ROA40) The DuPont identity can be used to help managers answer which of the following questions related to a company's operations?I. How many sales dollars are being generated per each dollar of assets?II. How many dollars of assets have been acquired per each dollar in shareholders' equity? III. How much net profit is being generating per dollar of sales?IV. Does the company have the ability to meet its debt obligations in a timely manner?A) I and III onlyB) II and IV onlyC) I, II, and III onlyD) II, III and IV onlyE) I, II, III, and IV41) The U.S. government coding system that classifies a company by the nature of its business operations is known as the:A) Centralized Business Index.B) Peer Grouping codes.C) Standard Industrial Classification codes.D) Governmental ID codes.E) Government Engineered Coding System.42) Which one of the following statements is correct?A) Book values should always be given precedence over market values.B) Financial statements are rarely used as the basis for performance evaluations.C) Historical information is useful when projecting a company's future performance.D) Potential lenders place little value on financial statement information.E) Reviewing financial information over time has very limited value.43) The most acceptable method of evaluating the financial statements is to compare the company's current financial:A) ratios to the company's historical ratios.B) statements to the financial statements of similar companies operating in other countries.C) ratios to the average ratios of all companies located within the same geographic area.D) statements to those of larger companies in unrelated industries.E) statements to the projections that were created based on Tobin's Q.44) All of the following issues represent problems encountered when comparing the financial statements of two separate entities except the issue of the companies:A) being conglomerates with unrelated lines of business.B) having geographically varying operations.C) using differing accounting methods.D) differing seasonal peaks.E) having the same fiscal year.45) Which one of these is the least important factor to consider when comparing the financial situations of utility companies that generate electric power and have the same SIC code?A) Type of ownershipB) Government regulations affecting the firmC) Fiscal year endD) Methods of power generationE) Number of part-time employees46) At the beginning of the year, Brick Makers had cash of $183, accounts receivable of $392, accounts payable of $463, and inventory of $714. At year end, cash was $167, accounts payables was $447, inventory was $682, and accounts receivable was $409. What is the amount of the net source or use of cash by working capital accounts for the year?A) Net use of $16 cashB) Net use of $17 cashC) Net source of $17 cashD) Net source of $15 cashE) Net use of $15 cash47) During the year, Al's Tools decreased its accounts receivable by $160, increased its inventory by $115, and decreased its accounts payable by $70. How did these three accounts affect the sources of uses of cash by the firm?A) Net source of cash of $120B) Net source of cash of $205C) Net source of cash of $45D) Net use of cash of $115E) Net use of cash of $2548) Lani's generated net income of $911, depreciation expense was $47, and dividends paid were $25. Accounts payables increased by $15, accounts receivables increased by $28, inventory decreased by $14, and net fixed assets decreased by $8. There was no interest expense. What was the net cash flow from operating activity?A) $776B) $865C) $959D) $922E) $98549) For the past year, Jenn's Floral Arrangements had taxable income of $198,600, beginning common stock of $68,000, beginning retained earnings of $318,750, ending common stock of $71,500, ending retained earnings of $316,940, interest expense of $11,300, and a tax rate of 21 percent. What is the amount of dividends paid during the year?A) $157,280B) $159,935C) $163,200D) $153,555E) $158,70450) The Floor Store had interest expense of $38,400, depreciation of $28,100, and taxes of $19,600 for the year. At the start of the year, the firm had total assets of $879,400 and current assets of $289,600. By year's end total assets had increased to $911,900 while current assets decreased to $279,300. What is the amount of the cash flow from investment activity for the year?A) −$51,150B) $21,850C) $29,300D) −$70,900E) −$89,40051) Williamsburg Market is an all-equity firm that has net income of $96,200, depreciation expense of $6,300, and an increase in net working capital of $2,800. What is the amount of the net cash from operating activity?A) $91,300B) $99,700C) $93,400D) $105,300E) $113,70052) The accounts payable of a company changed from $136,100 to $104,300 over the course of a year. This change represents a:A) use of $31,800 of cash as investment activity.B) source of $31,800 of cash as an operating activity.C) source of $31,800 of cash as a financing activity.D) source of $31,800 of cash as an investment activity.E) use of $31,800 of cash as an operating activity.53) Oil Creek Auto has sales of $3,340, net income of $274, net fixed assets of $2,600, and current assets of $920. The firm has $430 in inventory. What is the common-size statement value of inventory?A) 12.22 percentB) 44.16 percentC) 16.54 percentD) 13.36 percentE) 46.74 percent54) Pittsburgh Motors has sales of $4,300, net income of $320, total assets of $4,800, and total equity of $2,950. Interest expense is $65. What is the common-size statement value of the interest expense?A) .89 percentB) 1.51 percentC) 1.69 percentD) 2.03 percentE) 1.35 percent55) Last year, which is used as the base year, a firm had cash of $52, accounts receivable of $223, inventory of $509, and net fixed assets of $1,107. This year, the firm has cash of $61,accounts receivable of $204, inventory of $527, and net fixed assets of $1,216. What is this year's common-base-year value of inventory?A) .67B) .91C) .88D) 1.04E) 1.1856) Duke's Garage has cash of $68, accounts receivable of $142, accounts payable of $235, and inventory of $318. What is the value of the quick ratio?A) 2.25B) .53C) .71D) .89E) 1.3557) Uptown Men's Wear has accounts payable of $2,214, inventory of $7,950, cash of $1,263, fixed assets of $8,400, accounts receivable of $3,907, and long-term debt of $4,200. What is the value of the net working capital to total assets ratio?A) .31B) .42C) .47D) .51E) .5658) DJ's has total assets of $310,100 and net fixed assets of $168,500. The average daily operating costs are $2,980. What is the value of the interval measure?A) 31.47 daysB) 47.52 daysC) 56.22 daysD) 68.05 daysE) 104.62 days59) Corner Books has a debt-equity ratio of .57. What is the total debt ratio?A) .36B) .30C) .44D) 2.27E) 2.7560) SS Stores has total debt of $4,910 and a debt-equity ratio of 0.52. What is the value of the total assets?A) $16,128.05B) $7,253.40C) $9,571.95D) $11,034.00E) $14,352.3161) JK Motors has sales of $96,400, costs of $53,800, interest paid of $2,800, and depreciation of $7,100. The tax rate is 21 percent. What is the value of the cash coverage ratio?A) 15.21B) 12.14C) 17.27D) 23.41E) 12.6862) Terry's Pets paid $2,380 in interest and $2,200 in dividends last year. The times interest earned ratio is 2.6 and the depreciation expense is $680. What is the value of the cash coverage ratio?A) 1.42B) 2.72C) 2.94D) 2.89E) 2.4663) The Up-Towner has sales of $913,400, costs of goods sold of $579,300, inventory of $123,900, and accounts receivable of $78,900. How many days, on average, does it take the firm to sell its inventory assuming that all sales are on credit?A) 74.19 daysB) 84.69 daysC) 78.07 daysD) 96.46 daysE) 71.01 days64) Flo's Flowers has accounts receivable of $4,511, inventory of $1,810, sales of $138,609, and cost of goods sold of $64,003. How many days does it take the firm to sell its inventory and collect the payment on the sale assuming that all sales are on credit?A) 11.88 daysB) 22.20 daysC) 16.23 daysD) 14.50 daysE) 18.67 days65) The Harrisburg Store has net working capital of $2,715, net fixed assets of $22,407, sales of $31,350, and current liabilities of $3,908. How many dollars' worth of sales are generated from every $1 in total assets?A) $1.08B) $1.14C) $1.19D) $84E) $9366) TJ's has annual sales of $813,200, total debt of $171,000, total equity of $396,000, and a profit margin of 5.78 percent. What is the return on assets?A) 8.29 percentB) 6.48 percentC) 9.94 percentD) 7.78 percentE) 8.02 percent67) Frank's Used Cars has sales of $807,200, total assets of $768,100, and a profit margin of 6.68 percent. The firm has a total debt ratio of 54 percent. What is the return on equity?A) 13.09 percentB) 12.04 percentC) 11.03 percentD) 8.56 percentE) 15.26 percent68) Bernice's has $823,000 in sales. The profit margin is 4.2 percent and the firm has 7,500 shares of stock outstanding. The market price per share is $16.50. What is the price-earnings ratio?A) 3.58B) 3.98C) 4.32D) 3.51E) 4.2769) Hungry Lunch has net income of $73,402, a price-earnings ratio of 13.7, and earnings per share of $.43. How many shares of stock are outstanding?A) 13,520B) 12,460C) 165,745D) 171,308E) 170,70270) A firm has 160,000 shares of stock outstanding, sales of $1.94 million, net income of $126,400, a price-earnings ratio of 21.3, and a book value per share of $7.92. What is the market-to-book ratio?A) 2.12B) 1.84C) 1.39D) 2.45E) 2.6971) Taylor's Men's Wear has a debt-equity ratio of 48 percent, sales of $829,000, net income of $47,300, and total debt of $206,300. What is the return on equity?A) 19.29 percentB) 11.01 percentC) 15.74 percentD) 18.57 percentE) 14.16 percent72) Nielsen's has inventory of $29,406, accounts receivable of $46,215, net working capital of $4,507, and accounts payable of $48,919. What is the quick ratio?A) 1.55B) .49C) 1.32D) .94E) .9273) The Strong Box has sales of $859,700, cost of goods sold of $648,200, net income of $93,100, and accounts receivable of $102,300. How many days of sales are in receivables?A) 57.60 daysB) 40.32 daysC) 54.53 daysD) 29.41 daysE) 43.43 days74) Corner Books has sales of $687,400, cost of goods sold of $454,200, and a profit margin of 5.5 percent. The balance sheet shows common stock of $324,000 with a par value of $5 a share, and retained earnings of $689,500. What is the price-sales ratio if the market price is $43.20 per share?A) 4.28B) 12.74C) 6.12D) 4.07E) 14.5175) Gem Jewelers has current assets of $687,600, total assets of $1,711,000, net working capital of $223,700, and long-term debt of $450,000. What is the debt-equity ratio?A) .87B) .94C) 1.21D) 1.15E) 1.0676) Russell's has annual sales of $649,200, cost of goods sold of $389,400, interest of $23,650, depreciation of $121,000, and a tax rate of 21 percent. What is the cash coverage ratio for the year?A) 8.43B) 10.99C) 11.64D) 5.87E) 18.2277) Lawn Care, Inc., has sales of $367,400, costs of $183,600, depreciation of $48,600, interest of $39,200, and a tax rate of 25 percent. The firm has total assets of $422,100, long-term debt of $102,000, net fixed assets of $264,500, and net working capital of $22,300. What is the return on equity?A) 24.26 percentB) 15.38 percentC) 38.96 percentD) 29.96 percentE) 17.06 percent78) Frank's Welding has net fixed assets of $36,200, total assets of $51,300, long-term debt of $22,000, and total debt of $29,700. What is the net working capital to total assets ratio?A) 12.18 percentB) 16.82 percentC) 14.42 percentD) 17.79 percentE) 9.90 percent79) The Green Fiddle has current liabilities of $28,000, sales of $156,900, and cost of goods sold of $62,400. The current ratio is 1.22 and the quick ratio is .71. How many days on average does it take to sell the inventory?A) 128.13 daysB) 74.42 daysC) 199.81 daysD) 147.46 daysE) 83.53 days80) Green Yard Care has net income of $62,300, a tax rate of 21 percent, and a profit margin of 6.7 percent. Total assets are $1,100,500 and current assets are $328,200. How many dollars of sales are being generated from every dollar of net fixed assets?A) $2.83B) $1.37C) $.84D) $1.20E) $1.2381) Jensen's Shipping has total assets of $694,800 at year's end. The beginning owners' equity was $362,400. During the year, the company had sales of $711,000, a profit margin of 5.2 percent, a tax rate of 21 percent, and paid $12,500 in dividends. What is the equity multiplier at year-end?A) 1.67B) 1.72C) 1.93D) 1.80E) 1.8682) Western Gear has net income of $12,400, a tax rate of 21 percent, and interest expense of $1,600. What is the times interest earned ratio for the year?A) 9.63B) 7.75C) 10.81D) 14.97E) 10.9783) Big Tree Lumber has earnings per share of $1.36. The firm's earnings have been increasing at an average rate of 2.9 percent annually and are expected to continue doing so. The firm has 21,500 shares of stock outstanding at a price per share of $23.40. What is the firm's PEG ratio?A) 2.27B) 11.21C) 4.85D) 3.94E) 5.9384) Townsend Enterprises has a PEG ratio of 5.3, net income of $49,200, a price-earnings ratio of 17.6, and a profit margin of 7.1 percent. What is the earnings growth rate?A) 2.48 percentB) 1.06 percentC) 3.32 percentD) 5.20 percentE) 10.60 percent85) A firm has total assets with a current book value of $71,600, a current market value of $82,300, and a current replacement cost of $90,400. What is the value of Tobin's Q?A) .85B) .87C) .90D) .94E) .9186) Dixie Supply has total assets with a current book value of $368,900 and a current replacement cost of $486,200. The market value of these assets is $464,800. What is the value of Tobin's Q?A) .79B) .76C) .96D) 1.26E) 1.0587) Dandelion Fields has a Tobin's Q of .96. The replacement cost of the firm's assets is $225,000 and the market value of the firm's debt is $101,000. The firm has 20,000 shares of stock outstanding and a book value per share of $2.09. What is the market-to-book ratio?A) 2.75 timesB) 3.18 timesC) 3.54 timesD) 4.01 timesE) 4.20 times88) The Tech Store has annual sales of $416,000, a price-earnings ratio of 18, and a profit margin of 3.7 percent. There are 12,000 shares of stock outstanding. What is the price-sales ratio?A) .97B) .67C) 1.08D) 1.15E) .8689) Lassiter Industries has annual sales of $328,000 with 8,000 shares of stock outstanding. The firm has a profit margin of 4.5 percent and a price-sales ratio of 1.20. What is the firm's price-earnings ratio?A) 21.9B) 17.4C) 18.6D) 26.7E) 24.390) Drive-Up has sales of $31.4 million, total assets of $27.6 million, and total debt of $14.9 million. The profit margin is 3.7 percent. What is the return on equity?A) 6.85 percentB) 9.15 percentC) 11.08 percentD) 13.31 percentE) 14.21 percent91) Corner Supply has a current accounts receivable balance of $246,000. Credit sales for the year just ended were $2,430,000. How many days on average did it take for credit customers to pay off their accounts during this past year?A) 44.29 daysB) 55.01 daysC) 55.50 daysD) 36.95 daysE) 41.00 days92) BL Industries has ending inventory of $302,800, annual sales of $2.33 million, and annual cost of goods sold of $1.41 million. On average, how long did a unit of inventory sit on the shelf before it was sold?A) 47.43 daysB) 22.18 daysC) 78.38 daysD) 61.78 daysE) 83.13 days93) Billings Inc. has net income of $161,000, a profit margin of 7.6 percent, and an accounts receivable balance of $127,100. Assume that 66 percent of sales are on credit. What is the days' sales in receivables?A) 21.90 daysB) 27.56 daysC) 33.18 daysD) 35.04 daysE) 36.19 days94) Stone Walls has a long-term debt ratio of .6 and a current ratio of 1.2. Current liabilities are $800, sales are $7,800, the profit margin is 6.5 percent, and return on equity is 15.5 percent. What is the amount of the firm's net fixed assets?A) $8,880.15B) $8,017.43C) $7,666.67D) $5,848.15E) $8,977.43。
国际商务函电与沟通课件chap03
Examples & cases
AlcanAlesa Engineering Ltd. Max Hoegger Strasse 6, CH-8048 Zurich, Switzerland Tel: +41-44-435 33 33 , Fax: +41-44-432 06 66 Web site: ; Email:info@
Alcan Alesa Technologies Ltd. 150 Rockland Rd., Town of Mount Royal Quebec H3P 2V9, Canada Tel: +1-514-937 9105, Fax: +1-514-937 0473 Web site: ; Email: info@ J une 06, 2011
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Right format of date:
Month, day, and year in American English — March 5, 2011 or March 5th, 2011 — with the month spelt out. �D ay, month, and year in British English —5 March 2011 or the 5th March, 2011 — with the month spelt out.
刘志伟 - UST B AL L RIGHT S RE SE RVE D
Chapter 03
11
3.The Inside Address 封内地址
♦ If
you do not know the name of the recipient, many people like to use an “attention line ” if the recipient ’s name of a business letter is not known. (See the e.g. next page) ♦ The block style of inside address is commonly used in business correspondence. However, indented style is also acceptable.
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Reduced Costs 0.00000 0.00000 Dual Prices 4.37496 0.00000 6.93753 0.00000
Ling Xueling
第三节 L.P. 计算机解法
Objective Coefficient Ranges
Variable Lower Limit x1 6.30000 x2 6.66670 Right Hand Side Ranges Constraint Lower Limit 1 495.59998 2 479.99930 3 580.00146 4 117.00012 Current Value 10.00000 9.00000 Current Value 630.00000 600.00000 708.000000 135.00000 Upper 13.49993 14.28572 Upper 682.36316 No Limit 900 No Limit
2,松弛/剩余和对偶价格
界限约束 slack = 0 非界限约束 slack ≠ 0 改善值,所以有松弛的约束式对偶价格 = 0 因为对偶价格是改善 改善
3,敏感性分析
1〕c j 保优区域(Objective Coefficient Ranges)--使最优解有效的 区间,c1 = 10 ∈[6.3, 13.5] 2〕b i 可行区间( Right Hand Side Ranges )--使对偶价格有效的 区间,b1 = 630 ∈ [495.6, 682.4]
1) 现实世界是动态变化 动态变化的,所有系数都会变化,如:市场变化,售价 动态变化 的变化将导致利润率的变化,进而导致目标函数之系数的变化 2)有些数据是可控 可控的,如:是否加班?将导致可用工时的变化 可控 3)不少模型中的数据本来就是估计的,近似 近似的 近似
对修正了的 L.P. 模型不再重新求解,也要有足够的信息回答 上述变化所带来的影响--对最优解的影响,即:动态变化 或近似估计允许的范围是什么?
Ling Xueling
第三节 L.P. 计算机解法
1,最优解和缩减成本(reduced costs)
对于每一个决策变量 xj ,为使其在最优解中取得正数,其对应的 o.f. 之系数 cj 所必须改变的值的大小 此例中,x1 = 540 > 0,x2 = 252 > 0, 故,对应缩减成本均为 0
Ling Xueling
第三节 L.P. 计算机解法
二,MS 实例求解
2,软件启动
开始 \ 程序 \ MS60 Select A Module 菜单操作即可 注意: 1)非负约束 不要输入 2) "≤"约 束只要输入"<".
Ling Xueling
第三节 L.P. 计算机解法
三,计算机输出信息的解释 Objective Function Value = 7667.99463 Variable Value x1 539.99841 x2 252.00113
Ling Xueling
第一节 敏感性分析介绍
二,实例--Par. 公司问题
1,原问题及最优解
Max 10 x1 + 9 x2 s.t. 7/10 x1 + x2 ≤ 1/2 x1 + 5/6 x2 ≤ x1 + 2/3 x2 ≤ 1/10 x1 + 1/4 x2 ≤ x1, x2 ≥ 0
Ling Xueling
≤ 1 =目标函数直线斜率≤ 2 c2 10
故,cj 的保优区域是:
令
c2 = 9 c1 = 10
6.3 ≤ c1 ≤ 13.5 6.67 ≤ c2 ≤ 14.29 ( 暂时不讨论联立 联立变化) 联立
Ling Xueling
第二节 敏感性分析图解法
一,关于 cj 的变化
3,特殊情况时 C1 的保优区域
n
∑a x
j =1 ij
j
≤ bi
(i =1 2,...., m) ,
xj ≥ 0 ( j =1 2,...., n) ,
Ling Xueling
第一节 敏感性分析介绍
一,概念
2,什么是敏感性分析 最优后分析.就是在 L.P. 求出最优解之后,要研究: 最优后分析 1)当 c j 发生变化时,对最优解 x j 的影响是什么? 解 2)当 b i 发生变化时,对最优解值 z = o.f. 的影响是什么? 解值 3,为什么要进行敏感性分析?
二,关于右手边值 b i (资源)的变化
问题:1)可行域变化?---- 一般要变 2)最优解变化?---- 一般要变 3)最优解值 3 解值增量的意义是什么? 解值
1,实例
在 Par. 公司问题的第一个约束式中令 b1 = 640 则因为可行域增大,最优解变成:x1 = 527.5, x2 = 270.75 o.f. = 7711.75 即:利润增加 7711.75 - 7668 = 43.75 = z 也即:4.375 / 工时 (对 C&D 工序来说).
3,bi 变化与最优解值 z 值
1)bi 变化时,z 如何变化? 2)bi 增加时,附加工时的价值 (z2-z1) 是什么?
Ling Xueling
第一节 敏感性分析介绍
3 of 四约束之截距分别是: (900,630) (1200,700) (708,1062)(1350,540) 约束一直线之斜率= - 7/10 1 约束三直线之斜率= - 3/2
Ling Xueling
两个以上决策变量的 L.P. 问题例子
数学模型
max z = max 90x1 + 84x2 + 70x3 + 60x4 s.t. 10x1 + 8x2 + 9x3 + 15x4 ≤ 5000 2x1 + 3x2 + 3x3 ≤ 1800 x1 + x2 + x3 + x4 = 600 x3 x1 , x2 , x3 , x4 ≥ 0
∑b 最大允许量-b原始值
i i
20 100 + = 90.27% <100% 得联立变化百分比是: 682.4 630 900 708
故, b1 / b3 的对偶价格仍然皆有效.
Ling Xueling两Biblioteka 以上决策变量的 L.P. 问题例子
销售双工无线电联络系统问题 1,目标:利润最大 2,条件和约束
四种渠道:专业批发商 / 一般批发商 / 零售 / 邮购 不同渠道时:不同利润 / 不同广告成本 / 不同售后服务时间 资源和有关数据: 单位广告预算 10,8,9,15,可用总量:5000 单位服务时间 2,3,3,0,总可用时间:1800 已安排生产 600 第三渠道已签约 150 利润率 90 / 84 / 70 / 60 (课堂练习建立模型).
洛伦兹效应
1963 年气象学家洛伦兹提出著名的"蝴蝶效应 "假说 假说:一只南美洲亚马孙河流域热带雨林中 假说 的蝴蝶,偶尔扇动几下翅膀,可能在两周后引 起美国得克萨斯的一场龙卷风 原因在于:蝴蝶翅膀的运动,导致其身边 身边的空 身边 气系统发生了变化,并引起微弱气流的产生, 而微弱气流的产生又会引起它四周 四周空气或其他 四周 系统产生相应的变化,由此引起连锁反应,最 终导致其他系统 系统的极大变化. 系统
Ling Xueling
第三章 线性规划敏感性分析 和计算机解法
敏感性分析: 除最优解外,为决策者提供有价值的额外 额外信息 额外 计算机求解: 解决具有两个以上变量的 L.P. 问题
Ling Xueling
第一节 敏感性分析介绍
一,概念 1,L.P. 一般式
n
m ∑cj xj ax
j= 1
s.t.
Ling Xueling
洛伦兹效应
洛伦兹效应的解释:事物发展的结果,对初 初 始条件具有极为敏感的依赖性,初始条件的 始条件 极小偏差,可能引起结果的极大差异 "蝴蝶效应" 在社会学界常常被用来说明: 一个坏的微小的机制,如果不加以及时的引 导,调节,很可能会给社会带来非常大的危 害,被戏称为 "龙卷风" 或 "风暴";一个 好的微小的机制,只要正确指引,经过一段 时间的努力,将会产生轰动效应,被称为 " 革命"
630 600 708 135
最优解 x1 = 540 x2 = 252
第一节 敏感性分析介绍
二,实例
2,cj 变化与最优解 xj
1)若 c1 = 10 变成 7,问:最优解变化吗? 2)若 c2 在 (5, 13) 变化时最优解不变,如何评价 c2 = 9 ? 3)若仅当 c2 ∈ (8.9, 9.25) 时最优解不变,超出这个范围哪怕 一点点,最优解就会变,又如何评价 c2 = 9 ?
改令 则新最优解是 令 c2 = 9 从 从 z = 18 x1 + 9 x2 x1 = 708 x2 = 0
c1 3 ≤ c2 2
得下界 得上界
c1 ≥ 13.5 c1 < +
c1 > ∞ c2
∞
Ling Xueling
即得 C 1 保优区域:
13.5 ≤ C1 < +
∞
第二节 敏感性分析图解法
Ling Xueling
第二节 敏感性分析图解法
二,关于右手边值 b i (资源)的变化
4,b i 允许变化的区间
1)对偶价格定义(dual price) b i 每增加 增加一个单位时,o.f. 的改善 改善值 增加 改善 显然,在 max 问题中,dual = shadow 在 min 问题中,dual = - shadow 2)b i 可行区间(range of feasibility)定义 使得对偶价格有效的区间称为 b i 的可行 可行区间 使得对偶价格有效的区间 可行 意义:可行 ---- 就是要保证"对偶"有效,即:资源配置的 增,减幅度应该控制在有效,可行范围内 问题:如何求 b i 的可行区间?--下面一节解决.