IMA样题
ima提供的cma英文题库
ima提供的cma英文题库CMA英文题库是一个非常有用的资源，它可以帮助学习者更好地准备考试。
这个题库由ima提供，包含了大量的CMA考试题目，涵盖了各个领域的知识点。
无论是准备参加CMA考试的学生，还是想要提高自己专业能力的财务人员，都可以从这个题库中受益匪浅。
以下是一些题库中常见的题目类型：1.选择题：关于财务管理、成本管理、决策分析等方面的选择题，考察学生对知识点的理解和掌握程度。
2.填空题：需要学生根据题目提供的信息，填写正确的答案，考察学生对概念和公式的掌握程度。
3.计算题：涉及到财务报表分析、成本估算等方面的计算题目，考察学生对实际应用能力的掌握程度。
4.分析题：要求学生根据给定的情景进行分析，提出解决问题的方案，考察学生的逻辑思维和问题解决能力。
通过不断地练习这些题目，学生可以更好地掌握CMA考试所需的知识和技能。
同时，题库中还提供了详细的解析和答案，帮助学生检验自己的答题情况，及时发现和纠正错误。
总的来说，CMA英文题库是一个非常有用的学习资源，它可以帮助学生更好地备战CMA考试，提高通过考试的几率。
在使用题库的过程中，学生还可以结合其他学习资源，如教材、在线课程等，全面提升自己的专业能力。
试卷题目：1.下列哪个是管理会计的主要特点？A.着重于历史数据的总结和分析B.为内部管理决策提供信息支持C.主要用于外部投资者决策D.仅仅关注成本核算答案：B2.在成本-收益分析中，如果一项项目的净现值为正数，则表示：A.该项目应予以实施B.该项目应予以终止C.该项目的投资回报率较低D.该项目的成本偏高答案：A通过以上试卷题目的练习，学生可以更好地掌握知识点，提高应试能力。
第三届ima参考答案
第三届ima参考答案第三届IMA参考答案第三届IMA（International Mathematics Assessment）是一项国际性的数学评估活动，旨在评估全球中学生的数学水平和能力。
每年都有数百万名学生参与其中，通过这一活动，学生们不仅可以检验自己的数学知识，还可以与来自世界各地的同龄人进行交流和比较。
IMA参考答案是指在考试结束后，组织者公布的标准答案。
这些答案是由专业的数学教育机构和专家组成的评审团队，根据考试题目的难度和要求，以及数学领域的标准知识体系，进行综合评估和判断得出的。
参考答案的公布不仅对学生们来说是一个重要的参考，也是对整个教育体系的一种反馈和评估。
在第三届IMA中，参考答案的公布引起了广泛的关注和讨论。
一方面，学生们可以通过对照答案，了解自己的得分情况，查漏补缺，进一步提高自己的数学水平。
另一方面，教育机构和教师们也可以通过参考答案，评估自己的教学效果，发现和解决教学中存在的问题。
然而，IMA参考答案的公布也引发了一些争议。
一些人认为，公布参考答案会导致学生们过于依赖答案，而忽视了数学思维和解题能力的培养。
他们认为，数学不仅是一门知识，更是一种思维方式，应该注重培养学生的创造性思维和解决问题的能力。
而过于依赖答案，可能会让学生们变得机械地追求正确答案，而忽视了数学背后的思考过程。
另一方面，一些人则认为，公布参考答案有助于学生们更好地理解和掌握数学知识。
他们认为，通过对照答案，学生们可以发现自己的错误和不足之处，从而加深对知识的理解和记忆。
同时，参考答案的公布也可以激发学生们的学习兴趣和积极性，让他们更加主动地投入到数学学习中。
无论是支持还是反对IMA参考答案的公布，我们都应该认识到，答案只是一个参考，而不是唯一的标准。
数学是一门探索性的学科，它鼓励学生们思考和探索，而不是简单地追求正确答案。
在学习数学的过程中，我们应该注重培养学生的思维能力和解决问题的能力，而不仅仅是追求答案的准确性。
第三届IMA(海尔杯)管理会计案例大赛+案例中文版(仅供参考,请以英文版为准)
酱被出售给袋装色拉生菜生产商。Fine Foods, Inc. 不 要服务对象包括 ：Fine Foods 在其它国家的关联公司
经营生鲜产品。
（多为进口商）；销售食品和拥有食品服务设施的政府
Fine Foods, Inc. 所有权归私募公司 Great Plains 机构（如军事组织）；以及对合同有特殊要求的其它
Find Foods是一家优质品牌食品厂商。最近， 该公司战略营销二部（SMU2）的经理Kay Smith 深感沮丧，她认为自己部门的产品成 本计算不公平不合理，某些特殊订单更是如此。身为 食品科学家和工艺工程师，Smith的教育程度、经验和 专业知识为她在Find Foods赢得了他人的尊敬，但她 对会计方面所知甚少，因此也就无法表达自己对这一 严重问题的担忧。Smith认为，如果得到适当指导，自 己能够快速掌握会计相关知识，于是就雇佣了您，一 位会计专业的毕业生，来准备备忘录、幻灯片演示和 术语表，帮助她用更有说服力的方式向管理层汇报问 题。
计算和会计做法进行了深入分析。
一家工厂使用某项服务，则该服务全部成本均摊给该
厂。这些成本分摊到工厂后，再通过两种方式分摊到
生产流程
各产品组（每组生产一系列类似产品，如色拉酱、罐
为了了解 Fine Foods 的产品成本计算方法，您决定首 装汤和蔬菜、布丁）和产品 ：
先要了解整个生产线的物料流动过程。 MP 生产与该
SMU2 在贡献毛利（CM1）为正时接受特殊订单。 如表 2 所示，Fine Foods 将 CM1 定义为净销售额减 去可变生产成本（定义如上）和销货运费。Smith 认 为接受特殊订单对公司有利，有助于提高 Fine Foods 的整体利润，但却对因此给所在部门造成的影响感到 沮丧。
CMA 中文版Part4样题
根据上述数据，计算第二季度末，荷兰迪的预计现金余额：
a. 零 b. 25,000美元 c. 60,000美元 d. 95,000美元
12 主题 B.1.a.
某企业计算了其所持有的多余货物的年成本，为了防止存货短缺而持有50，000美元存货， 这50，000美元是下述哪一项成本的例子？
a 主要成本 b 质量成本 c 持有成本 d 缺货成本
前言 样题
样题答案 (学习重点) 考试大纲 IMA职业道德标准
第二部分 管理会计和报告
目录表
附件：
货币时间价值表
额外资源订单表
管理会计师认证协会 地址：10 Paragon Drive Montvale, New Jersey 07645-1760 (800) 638-4427 或 (201) 474-1606
ima@ imachina@
2 3-23
24-43 44-50 51-53
前言
注册管理会计师认证（CMA）是经过美国管理会计师协会颁发的。 注册管理会计师认证部（ICMA）出版了此样题及样题答案，协助您顺利进行CMA考试的 准备工作。本书旨在帮您熟悉考试中可能遇到的问题类型，这些问题是CMA机考试题中“过 时” 的考题。本资料可以作为其他学习资料的补充。 此书包括65道样题，代表了该部分每个章节的比例，并且难度各有不同。每个问题编号后 面的代码是参考考试大纲里的主题，考试大纲也附在此书里面。另外，我们已经附上了货 币时间价值表，在参加考试的时候，考生可以从计算机上获得。问题答案、答案解析和计 算过程都可在问题部分后面找到。参考教材文献以及有关的学习重点也附在了答案部分里。 ICMA针对修订之后的CMA认证考试的三个单项选择题形式的部分，分别出版了一本样题 册，我们还出版了“修订版CMA考试资源指南”，包括针对考试大纲各项内容的详细教材 参考文献、考试统计资料以及备考战略。 此外，以前参加考试但是没有通过某一部分考试的考生可以订购一份高级考试成绩报告。 该报告对照考试大纲，这意味着您可以准确了解自己需要对哪些主题和副主题加强学习。 根据考生的考试结果，该报告还显示了考生需要提高的地方，因此，考生可以节省时间集 中于自己最薄弱的地方，提高分值。 CMA认证考试是一个检验考生的技巧和能力的严格的考试，只有专注学习，才能顺利通过 考试。我们希望这些样题是考生实现认证目标过程中的宝贵资源。如果对于认证程序还有 什么疑问，请告知我们或者访问我们的网站 ，祝您考试好运！
IMA案例分析题样题答案
Solution or Key Points:1.1.Solution•Descriptions of the five responsibilities of the management accountant,as well as examples of practices and techniques of each,include the following:o Planning.The manager gains an understanding of the impact on the organization of planned transactions(i.e.,analyzing strengths and weaknesses)and economic events,both strategic and tactical,and sets obtainable goals for the organization.Thedevelopment of budgets in a bottom-up or top-down approach for both the short and longterm is an example of planning.o Evaluating.The manager judges and analyzes the implication of various past and expected events,and then chooses the optimum course of action.The manager alsotranslates data and communicates the conclusions.Graphical analysis(such as trend,barcharts,or regression)and net present value analysis are examples of evaluating.o Controlling.The manager ensures the integrity of financial information,monitors performance against budgets and goals,and provides information internally for decisionmaking.The successful implementation of internal control procedures is an example ofcontrolling.o Accountability.The manager implements a reporting system closely aligned to organizational goals that contributes to the measurement of the effective use of resourcesand safeguarding of assets.Internal reporting,such as comparisons of actuals to budget,is an example of accountability.o External reporting.The manager prepares reports in accordance with generally accepted accounting principles and then disseminates this information to shareholders(both current and potential),creditors,and regulatory and tax agencies.An annual reportor a credit application are examples of external reporting.Solution or Key Points:2.2.SolutionIn referring to the general roles of managers,a.Two interpersonal roles include acting as a1.Leader who hires,trains,motivates employees by integrating individual andorganization goals by using effective communication2.Liaison who deals with people outside the organizationb.Two informational roles include acting as a1.Monitor who seeks information about other internal departments,the externalenvironment,and other organizations2.Disseminator who communicates outside information internally,and internalinformation to the subordinates,while exercising judgment so there is minimalinformation overloadc.Three decisional roles include acting as a1.Negotiator between subordinates,suppliers,contracts,and union2.Resource allocator who distributes funds,equipment,time,etc.,in accordancewith organizational objectives3.Disturbance handler who solves issues of conflict within and without theorganizationSolution or Key Points:3.3.SolutionFor the original organizational structure proposed by Donald Jenkins,a.Advantages include1.Centralized decision making2.Close supervision of subordinates3.Increased opportunities for promotionDisadvantages includeck of flexibility/creativity5.More difficult vertical communication6.Increased costs for additional management personnelb.The span of control will1.Allow for tighter control over employees2.Afford timelier task completion and problem resolution,as the supervisors arecloser to everyday operationsc.As a result of the organizational structure proposed by Donald Jenkins,the employees arelikely to have a clear understanding of what is expected of them.However,because of thetighter span of control,the employees may avoid making decisions and taking risks. Solution or Key Points:4.4.SolutionAn informal group is a number of individuals attracted to one another by common geography,identity, values,and/or goals.The group identifies,then enforces,a set of behavior standards via sanctions and rewards.The informal group exists supplementary to the formal management system within which it is normally found.Solution or Key Points:5.5.SolutionThe working environment where it would be most appropriate to use the task-oriented and relationship-oriented leadership styles,respectively,are as follows:a.The task-oriented leadership style,to some extent,is necessary to make all work groupsfunction effectively.It is usually used where the job is repetitive,under time pressure,andrequires accuracy.b.The relationship-oriented leadership style is used when the work environment is open orunstructured,or the methodology for accomplishing a task is loosely defined and theexercise of judgment is important.Solution or Key Points:6.6.SolutionAccording to Maslow’s theory of motivation,human needs exist in a hierarchy of importance,namely, physiological,security,social,esteem,and self-actualization.Once the first level of physiologicalneeds is satisfied,the individual is no longer motivated by them and moves to the next level.The process continues until the individual reaches self-actualization.a.Unions are often associated with the ability to satisfy the lower level needs by providingcompetitive salaries,safe working conditions,job security,and social belonging.Itappears that these needs were already being satisfied at Spokane Computer Associates,as salaries were relatively high,there was little turnover,and the plant was considered asafe and pleasant place to work.b.The products at Pullman were successful and sold without much effort on the part of thesalespeople.As a result,the salespeople were doing well financially,and their lowerneeds were satisfied.By offering the top performers recognition,the firm was appealing tothem through a higher level motivator,esteem.The salespeople were motivated toincrease sales by the need for recognition and respect from their peers and others.c.Zach Chaudry is leaving Midwest Electronics to accept a teaching and research positionat the university to satisfy the highest level need,self-actualization.In this new position,Chaudry will have the opportunity to control his own research.Solution or Key Points:7.7.Solutiona.The need categories most often associated with professional employees are esteem and self-actualization,since the lower level needs are usually satisfied by professional employment and are no longer motivators(satisficers).b.The need categories most often associated with assembly-line workers(skilled labor)are thephysiological,safety,and social needs.The physiological and safety needs are usually satisfied by employment and are no longer motivators(satisficers).The social needs such as acceptance and affiliation must continue to be fulfilled.Solution or Key Points:8.8.SolutionAt least three general purposes of organizational communication are to1.Integrate efforts of employees2.Build a community of employees with high morale and mutual trust3.Acquire and disseminate informationSolution or Key Points:9.9.Solutiona.Four personal characteristics,attributable to both senders and receivers,that can causecommunications problems include1.Listening problems resulting from the receiver misunderstanding the intended message2.Poor channel or media selection,e.g.,sender has chosen a communication carrier that does notget to the receivers,or faulty encoding,e.g.,the use of jargon3.The influence that knowledge level,attitude(lack of interest),and background(demographics)will play in sending and receiving an effective message4.Interpersonal dynamics and emotions,including trust in the senderb.Three organizational characteristics that may be barriers to effective communications includeanizational status and power differences,e.g.,lower levels reluctant to communicate withupper levels or upper level perception that lower levels have little to contributeck of formal channels,i.e.,organization must provide adequate upward,downward,andhorizontal communications in the form of surveys,open-door policies,newsletters,memos,task force,and liaison personnel3.Departmental needs and goals;each one views problems and needs in its own termsSolution or Key Points:10.Solution10.a.Responsibility accounting is a system that recognizes various decision or responsibility centersthroughout an organization,and reflects the plans and actions of each of these centers by assigning responsibility for particular revenues and costs(as well as assets and liabilities where pertinent)to the individual managers primarily responsible for making decisions about these revenues and costs.Costs are classified into controllable and non-controllable categories with the responsibility center only charged with costs under its control.b.The advantages a company attains through the use of responsibility accounting include thefollowing:1.Participation in the planning process enhances the acceptance and achievability of the guidelinesestablished by the company.2.Responsibility plans provide clear guidelines to managers for day-to-day decisions and freemanagement from daily operations.3.More involvement will lead to better decision making.c.The use of responsibility accounting is advantageous to the managers in the following ways:1.Responsibility accounting facilitates delegation of decision-making and,therefore,managers areafforded greater freedom of action without daily supervision.This results in greater job satisfaction and higher motivation to improve performance.2.Managers are aware of the basis of their performance evaluations.Solution or Key Points:11.Solution11.The major disadvantages in the procedures employed by Rouge Corporation in preparing and implementing the divisional budgets include the following:a.The procedure is top-down versus a bottom-up approach.The budget is prepared by topmanagement and imposed on the divisions.The divisions do not participate in the budgetpreparation.This lack of participation inhibits goal congruence.b.Corporate management says differences between divisions are factored into the budgetprocess.However,problems unique to each division are best recognized by divisionmanagers.These managers should be allowed to communicate problems to topmanagement.Additionally,division managers should be allowed to suggest modificationsto the budget during the budget period.c.The budget is not flexible.The budget is set for the entire year and is not modified ascircumstances change.Solution or Key Points:12.12.SolutionMultiple performance evaluation criteria would be appropriate for the evaluation for the Star Paper Division.The criteria suggested by George Harris would take into account more of the results of the key decisions being made by the manager,are not conflicting,and emphasize the balance of profits with the control of current assets.These three measures are controllable by the manager and,in conjunction with ROA,would be more representative of the success of the business.Solution or Key Points:13.Solution13.Corporate management has established an environment in which there is an incompatibility(lack of goal congruence)between the achievement of corporate objectives and personal ethics.Under the current situation,severe penalties have been imposed by top management whenever subordinates do not achieve the high levels of performance established by the predetermined objectives.This has caused lower level management to take unethical courses of action.Corporate management apparently utilizes an authoritarian,nonparticipative management style which does not consider contributions from lower level management.As a result of this type of management style,top management may have established unreasonable expectations and may not recognize the need to change the expectations in light of changing circumstances.These factors may result in subordinates choosing any means to reach the objectives.The penalty and reward system appears to be inappropriate.There is no positive feedback or encouragement for effective performance and the penalties are heavy for failure to meet objectives.No code of ethics exists,and penalties are apparently nonexistent or minor for violation of acceptable business practices that are compatible with personal ethical standards.Solution or Key Points:14.14.SolutionAdam Williams should follow the established policies of the organization bearing on the resolution of such conflict.If these policies do not resolve the ethical conflict,Williams should report the problem to successively higher levels of management up to the board of directors until it is satisfactorily resolved.There is no requirement for Williams to inform his immediate superior of this action because he isinvolved in the conflict.If the conflict is not resolved after exhausting all course of internal review, Williams may have no other recourse than to resign from the organization and submit an informative memorandum to an appropriate member of the organization.15.Solution or Key Points:15.SolutionActivities in which JLS could engage to meet a social responsibility with respect to the three areas identified include the following:a.Human resources1.Contribute to the educational development of people through improved trainingand career advancement programs for current employees2.Provide for the well-being of employees by maintaining safe working conditionsb.Physical resources and environmental contributions1.Contribute to improvement in the environment by reducing company pollution ofair and water2.Contribute to energy conservation by taking the lead in promoting community-wide energy conservationc.Product or service contributions1.Design and manufacture safe or better quality products2.Respond quickly to customer complaints3.Develop clear and concise labels and instructions for product usesSolution or Key Points:16.16.SolutionThe arrangements made by Farbell and Cross&Gill exceeded the activities normally performed by an internal auditor for the external auditor and thus should be considered unethical.The external auditor gave up too much responsibility,and Farbell should not have agreed to such a proposal as it diminishes the value of the audit.Internal auditors can assist in performing substantive tests or tests of compliance,but their competence and objectivity must be considered,and the work must be supervised and tested.。
CMA管理会计师-中文Part2-第4章风险管理-2.IMA企业风险管理
CMA管理会计师-中文Part2-第4章风险管理-2.IMA企业风险管理[单选题]1.下面哪个不是管理运营风险的方法？A.对冲风险战略被用于减少利率波动的风险B.定期审查人员C.具有良好的维护和功能的内（江南博哥）部控制D.持续检查业务流程正确答案：A参考解析：考点：企业风险管理解题思路：A错，对冲是降低财务风险的方法B 对，定期审查就是运营过程中进行，减低运营风险C对，内部控制是基础，降低运营风险D对，也是在运营过程中进行，降低运营风险综上所述，正确答案选A[单选题]2.一家公司无法到期归还借款的本金和利息，这家公司面临的风险是什么A.运营风险B.财务风险C.法律风险D.战略风险正确答案：B参考解析：考点：风险类型解题思路：运营风险是和公司经营生产等相关的风险，财务风险一般和债务违约相关，法律风险是触犯了法律，战略风险是和公司的战略相关题目中提及的是违约风险，所以是财务风险综上所述，正确答案选B[单选题]3.一房东在密西西比河岸有一办公楼。
该房东欲将该写字楼卖给一群投资者。
房东采取了哪种风险策略A.风险开发B.风险转移C.风险规避D.降低风险正确答案：C参考解析：考点：风险应对解题思路：1.回避(avoidance)意味着企业退出会产生风险的活动。
风险回避可能包括退出一条产品线、拒绝拓展一个新地区市场，或者卖掉一个分部。
2.降低(reduction)表示企业采取措施降低风险的可能性或影响，或者同时降低两者。
3.分担(sharing)是要求企业通过风险转移(risktransfer)来降低风险的可能性或影响，或者分担一部分风险。
4.承受(acceptance)代表了企业不采取任何措施去干预风险的可能性或影响，因为该企业的固有风险已经在其风险的风险容限之内。
此外，承受并不意味着完全被动的接受，而是将风险转化为机会，以此来获取更高的收益。
本题中，公司认为在河边风险太大，于是将其转卖，属于规避风险综上所述，正确答案选C[单选题]4.年初，一个投资经理管理一个投资组合，年收益率8%，标准差25%，想要估计在80%的置信区间上最坏情况下的损失。
cma考试题及答案
cma考试题及答案CMA考试题及答案1. 以下哪项是管理会计的基本原则？A. 成本效益原则B. 持续改进原则C. 客观性原则D. 灵活性原则答案：C. 客观性原则2. 在成本会计中，直接成本和间接成本的主要区别是什么？A. 直接成本可以直接追溯到特定的产品或服务B. 间接成本可以直接追溯到特定的产品或服务C. 直接成本和间接成本都可以追溯到特定的产品或服务D. 直接成本和间接成本都不能追溯到特定的产品或服务答案：A. 直接成本可以直接追溯到特定的产品或服务3. 以下哪项是标准成本计算中的关键组成部分？A. 标准成本B. 实际成本C. 标准成本差异D. 所有以上选项答案：D. 所有以上选项4. 预算编制过程中，以下哪项是最常见的预算类型？A. 静态预算B. 弹性预算C. 增量预算D. 零基预算答案：B. 弹性预算5. 管理会计中，平衡计分卡的主要目的是什么？A. 提高财务绩效B. 改善内部流程C. 提升客户满意度D. 所有以上选项答案：D. 所有以上选项6. 在财务分析中，流动比率的计算公式是什么？A. 流动资产 / 流动负债B. 流动负债 / 流动资产C. 流动资产 - 流动负债D. 流动负债 + 流动资产答案：A. 流动资产 / 流动负债7. 以下哪项是内部控制的关键要素？A. 授权B. 记录C. 监督D. 所有以上选项答案：D. 所有以上选项8. 以下哪项是财务报表分析中常用的比率分析？A. 资产周转率B. 权益乘数C. 毛利率D. 所有以上选项答案：D. 所有以上选项9. 在管理会计中，作业成本法的主要优势是什么？A. 提供更准确的产品成本信息B. 简化成本分配过程C. 减少间接成本的分配D. 提高成本控制的效率答案：A. 提供更准确的产品成本信息10. 以下哪项是企业社会责任的关键组成部分？A. 经济责任B. 法律责任C. 道德责任D. 所有以上选项答案：D. 所有以上选项。
IMA样题选择80道及论述
美国注册管理会计师考试选择题部分练习题第一部分第一部分 - 财务计划、业绩和控制1.某公司正在为两款潜在产品编制销售预算。
这两款产品都需要使用同一套制造设备，而这台设备每月仅能使用 60 个小时。
产品 A 的边际贡献是每件$95，产品 B 的边际贡献是每件$55。
每件产品 A 需要耗费 4 个机器工时，每件产品B 需要耗费 2.5 个机器工时。
为了高效地分配设备资源，该公司应制造a.产品 A ，因为它每件的边际贡献比产品 B 高。
b.产品 B ，因为他们可以生产的该产品的件数比产品 A 的产量高。
c.产品 A ，因为该产品与产品 B 相比可以更有效地利用这台设备。
d.产品 B ，因为他们可以生产很多件该产品，同时仍然可以节省出生产产品 A 的时间。
2.Granger 公司正在评估其每件产品耗费的标准机器工时，以便编制其来年预算时使用此数据。
这家机器制造企业的规格表明，可以用 0.75 个小时完成一件产品的制造；而一项基准分析研究表明，某竞争对手则以每件产品 0.78 个机器工时的速度进行生产。
尽管已通过工程研究确定了每件产品耗费 0.80 个机器工时的标准，但 Granger 去年的实际结果是每件产品平均耗费 0.83 个机器工时。
在接下来的预算中Granger 应采用的标准是a.每件产品 0.75 个机器工时。
b.每件产品 0.78 个机器工时。
c.每件产品 0.80 个机器工时。
d.每件产品 0.83 个机器工时。
3.在收集年度预算编制需使用的信息时，某公司确定了与制造成本相关的成本动因。
该公司可采用以下哪一种定量分析方法来度量由成本动因变化而引起的相关制造成本发生的平均变化？a.时间序列分析。
b.指数平滑法。
c.回归分析。
d.学习曲线分析。
4.某公司使用简单回归法预测某项半变动成本。
计算方程Y = ‒25,000 + 2.5X 看起来很合适。
在本方程中使用负值的原因可能是a.零产出量在相关范围以外。
美国注册管理会计师CMA考试论述题及答案
美国注册管理会计师考试应用练习题第一部分和第二部分CMA考试第一部分应用练习题（参考答案从第23页开始）情境1.1-LinwoodLinwood是美国一家上市公司，经营百货连锁店。
公司于1975年开办第一家店，目前规模已经稳步发展到36家店。
两年前，董事会批准了大规模改建连锁店的计划，目的是吸引更为高端的客户。
在这些计划最后定案之前，先改建两家店作为试点。
公司财务长助理Bishop 负责报告这两家试点连锁店的财务成果。
Bishop及其上司财务长和其他管理人员根据商店的销售增长率和盈利能力获得奖金。
编制财务报表时，Bishop发现有大量废旧存货，这些存货应该折价销售或注销。
Bishop与管理层的同事讨论这一现象。
包括财务长在内的其他管理人员都认为废旧存货应忽略不报，否则会削弱财务成果，还会减少他们的奖金。
Bishop对于在财务报告中忽略废旧存货的做法感到不安，正在考虑该如何解决这个问题。
问题：1.参照IMA职业道德守则公告中某些特定标准，讨论Bishop面临的道德冲突。
2.根据IMA职业道德守则公告，指出Bishop应该采取哪些步骤来解决这个问题？情境1.2-Cool BreezeCool Breeze公司生产电扇，公司管理层希望能更为详细地分析其间接成本差异。
公司财务长已经把变动间接费用与固定间接费用彼此分离出来，并确定以机器工时而非直接劳动工时作为分配间接费用的依据。
在最近的会计期间，生产9,800件产品需要的单位机器工时是0.30小时，而生产10,000件的弹性预算的单位机器工时是0.25小时。
实际变动制造成本率是每单位机器工时$19，而在弹性预算下则为$20。
问题：1.就变动间接费用而言，请计算并解释以下差异。
请列出计算过程。
a.开支差异。
b.效率差异。
c.弹性预算差异。
2.请至少指出三个可能造成实际机器工时超过预算机器工时的原因。
情境1.3-MMIKimbell最近加入MMI公司，任负责规划和财务分析的财务长，隶属MMI的首席财务官Leuk。
CMA 美国注册管理会计师 试题 P1-100道13
1、IMA职业行为道德声明的正直标准声明每个会员有责任A、披露所有相关信息，如果可以合理预期这些信息会影响一个用户理解这些信息B、通过持续地发展知识和技能来维持恰当水平的专业技能C、杜绝将保密信息用于不道德或非法的牟利D、提供准确的决策支持信息和建议试题解析：IMA职业行为道德声明的可信标准声明每个会员有责任：公正和客观的沟通信息，披露所有相关信息，如果可以合理预期这些信息会影响一个用户理解这些报告、分析和建议，根据组织政策和/或适用法律披露在信息、及时性、处理或内部控制方面所存在的延迟或先天不足2、在Berwick公司，财务总监是为当地会计职业人员提供咨询的项目决策者之一。
这个财务总监经常在假日期间收到礼物。
这个财务总监在考虑是否接受这些礼物时，他应该参考IMA职业行为道德声明中的哪项?A、保密B、能力C、正直D、可信试题解析：IMA的职业行为道德的声明中的正直标准说的是每个会员有责任：抑制从事任何将侵害有道德的执行职责的活动，并且放弃从事或支持可能败坏职业的任何活动3、Katelyn是Hobbie Corners的财务总监。
这个公司生产预制装配式房屋。
Hobbie Corners的年终将至，这个财年将报告的盈利将远远低于预期。
向Katelyn 报告的高级管理会计师Andrew正在负责预测年末的利润报告。
为了降低成本，Andrew和Katelyn都被邀请参加一个回顾经营活动的委员会。
这个委员会立即选择了几个事项进行讨论，试图改善盈利性。
Andrew被要求与采购部门一起工作，不影响质量的情况下选择提供更低成本的原材料。
Hazel公司可以以更低的价格提供很多关键原材料，但是公司的拥有者是Katelyn的亲戚。
在准备了节约成本分析之后，Andrew建议Hazel 公司应该被选为新的供应商。
Katelyn被要求检查正在生产过程中的房屋完工百分比的计算。
Katelyn有能力改变完工百分比的计算，这样就直接影响公司的盈利。
IMA+CMA简答题+A
问答题 （习题）
经 第 1 和第 2 部分 财 顿 高
© 版权 2011 由注册管理会计师协会所有
A M C
简介
注册管理会计师协会（ICMA）习题册（含答案）旨在帮助考生准备注册管理会计 师 （CMA）考试。所有考题完全根据考试大纲（ CSO）及学习要求（LOS）编写， 均为 CMA 考试往年真题，可与其它学习材料配合使用。 练习题要求考生将 CMA 学习材料中所含概念和规则用于解决各种实际问题，从而 检验自己对这些内容的掌握程度。鉴于考生在 CMA 考试中将遇到不同的场景和应 用，因此务必透彻理解这些概念。死记硬背通常无助于考试。 习题册中的问答题为往年 CMA 考试第 1 和第 2 部分真题，涵盖了相关部分的考点。 习题中未出现某个考点，并无任何特殊含义。问答题将按照不同难度等级，对考试 大纲中所列全部考点进行测试。 CMA 考试对考生的知识与能力都有严格要求，需认真投入学习方有望通过测试。 我们希望这些习题能够成为考生实现认证目标的宝贵资源。祝您好运！
顿 高
经 财
A M C
问题 1.2 – Carroll Mining Alex Raminov是规模很大的矿物矿石加工商Carroll矿业与制造公司（CMMC）的一 名管理会计师。某晚为财务报表补充脚注时，Raminov来到上司的办公室寻找某份 文件，他发现了一份关于工厂废物处理程序的报告。据报告封面上的手写批注所言， CMMC长期以来一直在向附近城镇的生活垃圾填埋场倾倒有毒的洗煤液。报告指 出，必须尽快寻找新的倾倒地点，因为目前使用的填埋场已接近上限。 Raminov意识到，CMMC向生活垃圾填埋场倾倒有毒液体的行为极其不当。除对附 近居民造成明显危害外，有关部门得知后还可能引发法律问题。届时清理所需的高 昂费用以及CMMC环保声誉的丧失，可能给公司带来灾难性的后果。 Raminov询问上司，如何将这一项目加入脚注，以及是否将清理费用列入应计项目。 上司让他“不要管这么多”，显然上司无意在今年的财务报表中提及废物处理的问 题。
IMA案例分析题样题
1.Scenario&Questions:Managers are a separate and distinct category of employees whose primary activities are a part of the management process.Certain roles and skills are usually required of all managers,no matter what their specialty.During the1970s,Henry Mintzberg closely observed the day-to-day activities of a group of managers and concluded that general managerial roles fall into three basic categories:*Interpersonal roles that are directly related to the status of the manager*Informational roles involving the flow of information and stemming from the interpersonal roles*Decisional roles involving strategy formulation and stemming from the informational rolesManagement accountants are actively involved in the process of managing the entity.The process includes making strategic,tactical,and operating decisions while helping to coordinate the efforts of the entire organization.In order to fulfill these objectives,the management accountant accepts certain responsibilities which can be identified as:PlanningEvaluatingControllingAssuring accountability of resourcesExternal reportingQuestions:Describe each of the five responsibilities of the management accountant,identifying examples of practices and techniques.2.Scenario&Questions:observed the day-to-day activities of a group of managers and concluded that general managerial roles fall into three basic categories:Interpersonal roles that are directly related to the status of the managerInformational roles involving the flow of information and stemming from the interpersonal rolesDecisional roles involving strategy formulation and stemming from the informational rolesManagement accountants are actively involved in the process of managing the entity.The process includes making strategic,tactical,and operating decisions while helping to coordinate the efforts of the entire organization.In order to fulfill these objectives,the management accountant accepts certain responsibilities which can be identified as:PlanningEvaluatingControllingAssuring accountability of resourcesExternal reportingQuestions:Referring to the general roles of all managers,a.Describe two interpersonal roles.b.Describe two informational roles.c.Describe three decisional roles.3.Scenario&Questions:Barnes Corporation recently purchased Parker Machine Company,a manufacturer of sophisticated parts for the aircraft industry.Donald Jenkins has been appointed vice president of production of Parker and has been asked by Beverly Kiner,president of Barnes,to prepare an organizational chart for his department at Parker.The chart that Jenkins prepared is presented in Chart A below.When Jenkins presented his chart to Kiner,she told him that she preferred a flat organizational structure and showed him how she envisioned his department at Parker by drawing the chart presented in Chart B below.Kiner’s chart reduced a layer of management personnel and increased the number of people reporting directly to the manager of planning and control and the manager of manufacturing.Jenkins expressed concern about the broad span of control depicted in Kiner’s chart,as he believed this might cause problems for the two managers.Kiner said that she believed the benefits of a flat organization outweighed the problems that could arise from too great a span of control.Questions:For the original organizational structure proposed by Donald Jenkins,vice president of production, describea.The advantages and disadvantages of the organizational structureb.The impact of the resulting span of controlc.The effect of the organizational structure on employee behavior4.Scenario&Questions:Roy Nelson has been hired as the new controller of Goliath Systems Corporation.His previous job and all of his experience was in another region of the country more than a thousand miles away.He has noticed that the employees at Goliath seem to operate somewhat differently than at the smaller companies where he had previously worked.One characteristic common to many organizations is the existence of informal groups within the organization.These groups often fill an important role in the operation of an organization.Questions:Define an“informal group.”5.Scenario&Questions:Until recently,Cromwell University maintained a low turnover rate in the nonprofessional work force. However,in each of the last3years,the turnover rate has increased to where it is now,well above the industry average.Brian Smythe,personnel manager,has been asked by the university president to analyze the situation. Smythe reviewed turnover rates on a departmental basis and discovered that the Accounts Payable Department had the highest turnover rate,while the Admissions Department had the lowest turnover rate. Although employees of both departments are compensated equally,productivity and work efficiency are at the expected level for the Accounts Payable Department and above the expected level for the Admissions Department.Upon further investigation,Smythe determined that there was a significant difference in the leadership styles of the accounts payable manager,Wendy Drumman,and the admissions director,Paul Browne.Both Drumman and Browne had joined the university3years ago.Drumman is task-oriented in her management approach,constantly checking on her employees and monitoring their progress.She allows no feedback,comments,or objections by her employees.These employees mistrust Drumman.Browne’s method is to use the relationship-oriented management style and have his employees involved in day-to-day decisions.Consequently,not only does Browne’s department have a lower turnover rate,but his employees are willing to put forth extra effort to get the job done.Questions:Describe the working environment where it would be most appropriate to use thea.Task-oriented leadership styleb.Relationship-oriented leadership style6.Scenario&Questions:Midwest Electronics Corp.manufactures computers.Recently,its products have met competition from lower-priced imports,and the firm is seeking ways to improve its workers’productivity in order to maintain its market share.Alice Kumar,manager of the Accounting Department,and Greg Mossman,manager of the Sales Department,recently discussed a presentation made to management of Midwest by a consultant on employee motivation.This consultant had talked about content and process theories of motivation.The content theories seek to answer what motivates people,while process theories focus on why people choose certain behavioral options and how they judge their success.In the course of the conversation,Kumar recalled what happened at Spokane Computer associates,her former employer.A national labor union had sought repeatedly to unionize the workers at the plant but had never succeeded.There was little turnover among the workers,and the plant was considered a safe and pleasant place to work.Salaries were relatively high,and workers earned not only a base salary but also incentive bonuses based on their individual output and company profits.Mossman recalled his experience at Pullman Lighting Inc.during the late1970s and1980s.The firm developed a light fixture that conserved energy and was a tremendous success.Mossman recalled that most of his salespeople did well without undue exertion;the product sold itself.Initially,the company had trouble obtaining market share outside the Northeast;it appeared that the salespeople were reluctant to make contacts outside their immediate region.Mossman commented,“We started by promising them higher commissions,and that didn’t work.But when we started giving the top performers special recognition awards at sales meetings and sending them on cruises,sales spread beyond the Northeast all the way to the Pacific Northwest.”Alice and Greg were joined by Zach Chaudry,Research Department supervisor.He informed them that he was leaving the company to take a research and teaching position with a university.He would be taking a pay cut but would be in control of selecting the type of research he would undertake.After the meeting,they greeted Lon Noll.Noll,who is an immigrant,had started working at Midwest as a lab assistant and had recently been promoted to a supervisory position.He also attends a graduate program at a nearby university and is seeking a doctoral degree in computer science.Chaudry commented,“There’s a guy who knows what he wants and then goes after it.And he will get what he wants!”Questions:Using Maslow’s theory of motivation,explaina.Why the efforts to unionize Spokane Computer Associates failedb.What allowed the sales of Pullman Lighting Inc.to spread beyond the Northeast regionc.Why Zach Chaudry is moving to the university and taking a pay cut7.Scenario&Questions:Welsteel Corporation is a steel foundry that produces hardware for electrical and telephone pole needs. The company has550employees,75of whom are professional or management employees,375 assembly-line employees,and100clerical employees.In the past,Welsteel has responded positively to employees’compensation needs and has avoided any union activity by the assembly-line employees.Welsteel has an established annual review process for all of its employees.The performance evaluation is initiated by all departments in November and completed in December so that any associated raises or promotions can be reflected in January,the beginning of the company’s fiscal year.The evaluation process begins with the manager(or supervisor)preparing a checklist document that evaluates all employees on a one-to-five rating scale(one being excellent and five being poor). Characteristics evaluated include attitude,loyalty,accuracy,attendance,dependability,maturity, confidence,time management,and communication skills.There is also a blank section on the form where the manager can report any improvements since the employee’s last performance review.The manager then has his/her superior approve the review,and together they recommend the employee’s raise.This form is passed on to the personnel director for approval who then returns the evaluation form to the manager.The manager arranges a meeting with the employee to privately discuss the evaluation form.This meeting, on average,is fifteen minutes in length,allowing five minutes for the employee to read the form.The manager and employee discuss the written form and may have an informal discussion about problem areas that need improvement.The manager will then inform the employee of the raise that is associated with the performance review,being sure to let the employee know in which pay period to expect the raise. The meeting finishes with the employee signing the form and the manager stating that a copy of the signed form will be given to the employee.Questions:By referring to the need categories in Question8,identify the need category or categories most closely associated with the following groups of employees,and explain why each category identified applies to each group of employees.a.Professional employeesb.Assembly-line employees8.Scenario&Questions:Three years ago,John Stevens was hired as an entry level accountant by Jackson Manufacturing Co.,and was recently promoted to manager of the Accounting Department.This opening occurred as the result of an internal promotion of the person previously in that position.As part of the initial orientation and training of new management personnel,Jackson Manufacturing has a development program that emphasizes communication.Stevens believes that the program places too much importance on communication and does not spend enough time on other management skills.Stevens decided to talk with his supervisor and the manager of employee development about his concerns regarding the training program.They both responded by stressing the importance of organizational communication and the fact that the success of the company is often directly related to the effectiveness of this communication.They explained that,since managers spend over half their time in some form of communication,it is necessary to emphasize the importance of effective communication to help ensure the company’s success.Questions:Describe at least three general purposes of organizational communication.9.Scenario&Questions:Tabor Industries is an established manufacturer of refrigeration equipment for supermarkets.While gross sales have been steadily increasing,net profits have not kept pace.It is generally believed that production is not as efficient as possible and that better cost controls need to be instituted.To help address these problems,Warren Renson,vice president and production manager,decided to involve the workforce in making suggestions.He sent the following memo to all production line and staff employees.Date:December1,2008To:Production Line and Staff EmployeesFrom:Warren RensonLet’s improve production together.We need your input.I know we can make productionmore efficient.A suggestion box system is hereby implemented.We will pay anappropriate percentage of the savings to the employee who makes any suggestion that isimplemented.Send your suggestions to my office.I look forward to hearing from you.The suggestion box system has been in operation for a full year now,and Renson is annoyed and disappointed with the results.Only three worthwhile suggestions have been received,and only one of them had any measurable impact on production efficiency.Many other suggestions were submitted,but they were all for the benefit of the employees.Questions:Communications can be misunderstood at various levels.a.Describe at least four personal characteristics,attributable to both senders and receivers,that cancause communication problems.b.Describe at least three organizational characteristics that may be barriers to effectivecommunication.10.Scenario&Questions:Uniservo is an equipment maintenance company and has recently undergone a management buyout.The management team is replacing the centralized corporate financial control system with a responsibility accounting system that will increase overall participation in the budgeting process.The company is segregated into three geographical profit centers:Eastern,Central,and Western,and each center is responsible for the following:•Obtaining new business and maintaining profitable contracts with older customers.•Depreciation for both existing and new assets.Included among the existing assets are technologically obsolete,but underdepreciated,maintenance and repair parts that will continue to be depreciated as a profit-center expense until disposal.This assignment of responsibility to the profit centers is to minimize the reoccurrence of this obsolescence problem.Any new capital asset acquisitions are to be approved by the corporate staff in order to control the cash supply.•Recommending and implementing real estate changes or consolidations except where long-term leases are in effect.The field offices are in close proximity to the customer base.The majority of leases are annual;however,responsibility for the more costly and longer term contracts in high-rent districts has been assigned to the corporate Real Estate Department.Property taxes arerelated to the real estate leases.All insurance is negotiated by the corporate Insurance Department to obtain the best national coverage at the most reasonable cost.Each region’s general manager,along with the subordinate managers,is required to develop an annual budget and submit it to the corporate staff for review and consolidation into an overall company budget. After the initial corporate review,the budgets are returned to the general managers who then revise their submissions in order to reach corporate sales and profit objectives.For the coming year,the general managers and corporate staff have agreed on the corporate budget below.UniservoConsolidated Operating BudgetFor the Year Ending December31,2005($in millions)Eastern Central WesternUniservo Region Region Regionsales$52.80$22.20$11.70$18.90Controllable costs:technicians22.29.3 4.98.0-Supervision 3.5 1.5.7 1.3Selling expense 2.5 1.1.5.9Training.9.4.2.3Repairs&maintenance 4.0 1.7.9 1.4Rents 6.3 2.6 1.4 2.3Property taxes 1.3.5.3.5Depreciation.8.3.2.3Total controllable expenses41.517.49.115.0Controllable contribution11.3 4.8 2.6 3.9Expenses controllableothers:.5.2.1.2Corporate general and3.6 1.5.8 1.3Total expensesby others 4.1 1.7.9 1.5Total contribution$7.2$ 3.1$ 1.7$ 2.4Questions:Responsibility accounting is widely used by many companies.a.Define responsibility accounting.b.Discuss the advantages a company attains through the use of responsibility accounting.c.Describe how the use of responsibility accounting is advantageous to the managers of thecompany.11.Scenario&Questions:Rouge Corporation is a medium-size company in the steel fabrication industry with six divisions located in different geographical sectors of the United States.Considerable autonomy in operational management is permitted in the divisions due in part to the distance between corporate headquarters in St.Louis and five of the six divisions.Corporate management establishes divisional budgets using prior year data adjusted for industry and economic changes expected for the coming year.Budgets are prepared by year and by quarter,with top management attempting to recognize problems unique to each division in the divisional budget-setting process.Once the year’s divisional budgets are set by corporate management,they cannot be modified by division management.The budget for the next calendar year projects total corporate net income before taxes of$3,750,000for the year,including$937,500for the first quarter.Results of first quarter operations presented to corporate management in early April showed corporate net income of$865,000,which was$72,500below the projected net income for the quarter.The St.Louis Division operated at4.5%above its projected divisional net income,while the other five divisions showed net incomes with variances ranging from1.5to22% below budgeted net income.Corporate management is concerned with the first quarter results because they believe strongly that differences between divisions had been recognized.An entire day in late November of last year had been spent presenting and explaining the corporate and divisional budgets to the division managers and their division controllers.A mid-April meeting of corporate and division management has generated unusual candor.All five outstate division managers cited reasons why first quarter results in their respective divisions represented effective management and was the best that could be expected.Corporate management has remained unconvinced and informs division managers that“results will be brought into line with the budget by the end of the second quarter.”Questions:Identify and explain the major disadvantages in the procedures employed by Rouge Corporation’s corporate management in preparing and implementing the divisional budgets.12.Scenario&Questions:The Star Paper Division of Royal Industries is located outside Los Angeles.A major expansion of the division’s only plant was completed in April of Year4.The expansion consisted of an addition to the existing building,additions to the production-line machinery,and the replacement of obsolete and fully depreciated equipment that was no longer efficient or cost-effective.On May1,Year4,George Harris became manager of Star.Harris had a meeting with Marie Fortner,vice president of operations for Royal,who explained to Harris that the company measured the performance of divisions and division managers on the basis of return on gross assets(ROA).When Harris asked if other measures were used in conjunction with ROA,Fortner replied,“Royal’s top management prefers to use asingle performance measure.There is no conflict when there is only one measure.Star should do well this year now that it has expanded and replaced all of that old equipment.You should have no problem exceeding the division’s historical rate.I’ll check with you at the end of each quarter to see how you are doing.”Fortner called Harris after the first quarter results were completed because Star’s ROA was considerably below the historical rate for the division.Harris told Fortner that he did not believe that ROA was a valid performance measure for Star.Fortner indicated that she would discuss this with others at headquarters and get back to Harris.However,there was no further discussion of the use of ROA,only reports on divisional performance at the end of the second and third quarters.Now that the fiscal year has ended, Harris has received the memorandum shown below.To:George Harris,Star Paper DivisionFrom:Marie Fortner,Royal IndustriesSubject:Divisional PerformanceThe operating results for the fourth quarter and for our fiscal year ended on April30are now complete.Your fourth quarter return on gross assets was only9%,resulting in a return for the year of slightlyunder11%.I recall discussing your low return after the first quarter and reminding you after the secondand third quarters that this level of return is not considered adequate for the Star Paper Division.The return on gross assets at Star has ranged from15%to18%for the past5years.An11%returnmay be acceptable at some of Royal’s other divisions,but not at a proven winner like Star,especially inlight of your recently improved facility.Please arrange to meet with me in the near future to discussways to restore Star’s return on gross assets to its former level.Harris is looking forward to meeting with Fortner as he plans to pursue the discussion about the appropriateness of ROA as a performance measure for Star.While the ROA for Star is below historical levels,the division’s profits for the year are higher than at any previous time.Harris is going to recommend that ROA be replaced with multiple criteria for evaluating performance,namely,dollar profit,receivable turnover,and inventory turnoverQuestions:Discuss whether the multiple performance evaluation criteria suggested by George Harris would be appropriate for the evaluation of the Star Paper Division.13.Scenario&Questions:A large American corporation participates in a highly competitive industry.In order to meet this competition and achieve profit goals,the company has chosen the decentralized form of organization.Each manager of a decentralized profit center is measured on the basis of profit contribution,market penetration,and return on investment.Failure to meet the objectives established by corporate management for these measures was not accepted and usually resulted in demotion or dismissal of a profit center manager.An anonymous survey of managers in the company revealed that the managers felt the pressure to compromise their personal ethical standards to achieve the corporate objectives.For example,at certain plant locations there was pressure to reduce quality control to a level which could not assure that allunsafe products would be rejected.Also,sales personnel were encouraged to use questionable sales tactics to obtain orders,including gifts and other incentives to purchasing agents.The chief executive officer is disturbed by the survey findings.In his opinion,such behavior cannot be condoned by the company.He concludes that the company should do something about this problem.Questions:Discuss what might be the causes for the ethical problems described.14.Scenario&Questions:Adam Williams was recently hired as assistant controller of GroChem,Inc.which processes chemicals for use in fertilizers.Williams was selected for this position because of his past experience in the chemical processing field.During his first month on the job,Williams made a point of getting to know the people responsible for the plant operations and learning how things are done at GroChem.During a conversation with the plant supervisor,Williams asked about the company procedures for handling toxic waste materials.The plant supervisor replied that he was not involved with the disposal of wastes and suggested that Williams might be wise to ignore this issue.This response strengthened Williams’determination to probe this area further to be sure that the company was not vulnerable to litigation.Upon further investigation,Williams discovered evidence that GroChem was using a nearby residential landfill to dump toxic wastes.It appeared that some members of GroChem’s management team were aware of this situation and may have been involved in arranging for this dumping;however,Williams was unable to determine whether his superior,the controller,was involved.Uncertain how he should proceed,Williams began to consider his options by outlining the following three alternative courses of action:•Seek the advice of his superior,the controller.•Anonymously release the information to the local newspaper.•Discuss the situation with an outside member of the board of directors with whom he is acquainted.Questions:Without prejudice to your answer in Question4,assume that Adam Williams sought the advice of his superior,the controller,and discovered that the controller was involved in the dumping of toxic wastes. Using SMA1C to support your answer,describe the steps that Williams should take to resolve this situation.15.Scenario&Questions:JLS Corporation is a large,publicly owned manufacturing company specializing in the production of appliance parts.Mark Howard,the President and Chief Executive Officer,is philanthropic and socially conscious.He wants JLS Corporation to be recognized as a socially conscious and responsible company. To promote this image,JLS Corporation has donated well over one million dollars during the last two years to the local symphony,the parks department,various charities,and other civic groups.Furthermore, Howard encourages executives to participate in civic activities,i.e.,United Fund,school boards and school parent/teacher organizations,service clubs,etc.,and gives executives released time to participate in these activities.Howard recently read a professional monograph on corporate social performance.The monograph identified four areas used to evaluate the company’s level of social responsibility:munity involvement2.Human resources3.Physical resources and environmental contributions4.Product or service contributionsHoward believes that the activities JLS has supported seem to concentrate on community involvement. However,he is uncertain whether JLS conducts any activities related to the other three areas of social responsibility.Questions:Identify and explain social responsibility activities that JLS Corporation could be doing currently or could do in the future in the following three areas:a.Human resourcesb.Physical resources and environmental contributionsc.Product or service contributions16.Scenario&Questions:Farbell Company is a manufacturer of automotive components with annual sales of$85million.An internal audit department was established four years ago,and it is supervised by the Manager of Audits who reports directly to the controller.Farbell’s business has declined sharply over the past two years.The controller,looking for ways to reduce costs,asked the company auditors,Cross&Gill Company,for suggestions to reduce the audit fees.They indicated the audit fee could be reduced if a member of Farbell’s internal audit staff could be assigned to assist Cross&Gill in some of the audit steps which need to be conducted.Cross&Gill would design and supervise the audit procedures,but the Farbell employee would actually do the work.The areas Cross& Gill suggested were to•Verify vendors’balances in accounts payable at year-end•Value year-end inventory of productive materials•Review the adequacy of allowance accounts and all expense accruals at year-end。
美国注册管理会计师CMA中文P1简答题预测题目第1题答案题解
美国注册管理会计师CMA中文P1简答题预测题目第1题答案题解例题一：公司财务总监要求企业进行预算。
企业下属和公司财务总监进行了交流和沟通，CFO要求团队人员在6周制定出预算。
交给财务总监进行审批。
一位财务分析师告诉财务总监，企业明年的销售将比今年提高20%，原材料，变动制造费用为变动成本，随销售额的提高而成比例提高，而人工费用的增长为10%。
固定制造费用明年和今年保持一致。
销售管理费用中，变动部分为每单位１元，固定部分明年降低2000元。
本年度的销售情况是，销售单位10000个，每个产品10美元，人工费用为20000元，原材料费用为30000元，变动制造费用为10000元，固定制造费用为5000元。
销售管理费用为15000元。
●该公司的预算编制方式属于什么样的方式？有什么优点和缺点？●财务分析师进行预测后编制预算最可以采取的预算编制方法是哪种？它存在哪种优点和缺点？●请编制该企业在明年的预算。
●企业如果明年实际销售额提高了30%，在未来如何进行最合理的绩效评估？●在确定人工成本的时候，财务分析师进行了学习曲线的分析。
请说明为什么人工的增长没有按销售比例增长则相应增长。
学习曲线能够帮助企业达到什么样的管理目的？通过该题目，考生可以看出IMA希望考查的是在教材中所提及的预算法的异同，预算的具体编制如何计算和预算过程中的一些预算预测技术的应用。
●针对第一问：该公司的预算编制方式属于什么样的方式？有什么优点和缺点？本题正确的答案是参与式预算。
该题目考查的是权威式和参与式预算的特点。
在CMA考试中，大家务必对于这两类预算方式加上混合式预算的特点非常熟悉．这个部分不仅是简答题，更是选择题考试的重点。
参与式预算是自下而上的预算,是管理者和下属共同商讨进行的预算。
但是，大家务必要记住其以下特点：●预算的编制时间长，成本较高。
●该预算不将企业战略作为首要位置；●各部门没有为企业战略进行良好地协调工作；●部门管理者因为和领导进行了沟通,能够良好实施该预算；●管理者可能因为自身的利益,会刻意进行预算松弛的行为。
美国注册管理会计师 CMA P1 简答题预测题目第3题答案题解
3.已知Global Mail公司，财务部制定以下预算，销售部负责收入。
设备运营部、运营推广部门承担大部份固定费用。
该公司的静态预算和实际情况如下实际值静态预算收入3,000,0003,600,000数量2400030000直接人工14918401800000直接材料475200480000变动费用313200360000边际贡献719760960000固定成本684000690000经营利润35760270000请回答以下内容：1编制弹性预算表，并解释弹性预算差异和销售量差异2.求每项弹性预算,并告知是有利还不利，并说明原因3.营运收入的销售价格差异和销售量差异的区别？通过该题目，大家可以发现。
IMA要求考生能够编出弹性预算表，这是任何预算差异分析的基础。
请一定要记住，弹性预算是产量或者销售量调整成为实际数量，而单位成本或者单位价格不变化，此外固定间接费用不变化。
弹性预算编制，出现最大的错误就是题目中可能会出现干扰项，例如，在题目中可能会说，公司起初设计了弹性预算针对28000个产量。
然而这样的弹性预算内容是无关的。
因为如果进行差异分析，必须要使弹性预算的产量或者销量和实际发生的情况保持一致。
弹性预算编制是否正确，直接会导致后面的各种计算是否正确。
故此，弹性预算的编制务必要非常熟练。
CMA考试时间比较短，并不会让考生编制非常复杂的弹性预算，故此该题目已经比较客观地反映了IMA的考试风格和内容。
该题目的弹性预算编制如下实际值弹性预算静态预算收入3,000,0002,880,0003,600,000数量240002400030,000直接人工14918401,440,0001,800,000直接材料475200384,000480,000变动费用313200288,000360,000边际贡献719760902,400960000固定成本684000690,000690000经营利润35760212,400270000弹性预算编制完毕，CMA考试非常有可能就要求考生进行差异分析。
美国注册管理会计师CMA中文P1IMA样题选择80道解析
IMA样题题解1.这道题是考察单位边际贡献，这道题的内容和约束理论内容类似。
这道题要求比较单位机器工时的边际贡献谁大。
产品A单位机器工时的边际贡献是23.75, 产品B单位机器工时的边际贡献是22。
2.此题考察的是标准成本的确立方式问题。
最好的成本确立方式是作业成本法，也就是通过内部研究所达到的标准成本计算。
3.通过成本动因来确定相关制造成本，符合制造成本半变动成本的性质。
Y＝a+Bx4.出现截距为负数，使得Y值可能为负。
但是成本可能在一定范围才有效，超出此范围，该等式就不成立。
5.这是学习曲线的标准表述。
6.前两件产品作为一个单位，用时共200的小时。
产出翻倍，即生成两个单位，共四件产品的时候，累积模式的时间是200*0.9*2=360小时。
7.先求六月份的预计销售总额＝(22,000,000-600，000)*0.3+22,000,000*0.7=21,820,000再求七月份的预计销售总额＝22,500,000*0.7+21,820,000*0.3=15，750，000+6,546,000=22,296,0008. 四个季度体现了非常明显的季节性。
9. 画出概率图：有利：60%---70% > 成功60%---30% > 失败不利：40%---25% > 成功40%---75% > 失败则成功的概率=60%*70%+40%*25%=0.52，则失败的概率=1-0.52=0.48。
所以，期望利润=0.52*10-0.48*4=3.28。
10. 8*0.1+2*0.4+2.4*0.3+2.5*0.2=0.18+0.8+0.72+0.5=2.211.按照项目来进行，所以要按照项目预算法来对项目进行评估。
资本预算对于项目来说很重要，所以C选项为最佳。
12.对于各种过程的成本进行关注，实际上是将各种成本按照成本池来进行预测和评估。
作业预算编制能够达到此效果。
13.弹性预算与公司的目标没有关系。
cma考试题型
cma考试题型一、单选题（100题，每题1分，共100分）1. 以下哪个是管理会计的重要组成部分？A. 财务会计B. 税务会计C. 成本会计D. 非营利会计2. 管理会计最主要的目的是：A. 报告财务情况B. 明确责任成本C. 帮助管理决策D. 降低成本3. 以下哪个分析方法主要用于对公司投资项目进行评估：A. 成本-效益分析B. 财务比率分析C. 高尔夫球分析D. 时间价值分析4. 成本管理的主要目标是：A. 降低生产成本B. 提高产品质量C. 增加销售利润D. 提高市场份额5. 对于谁来说，成本会计信息最重要？A. CFOB. 董事会C. 内部管理人员D. 外部投资者二、多选题（50题，每题2分，共100分）1. 下列哪些是管理会计的主要工具和技术？（多选）A. 预测和预算B. 成本-效益分析C. 盈余分析D. 资本预算E. 盈余管理2. 管理会计师的职责和角色主要包括以下哪些方面？（多选）A. 准备财务报表B. 分析财务数据C. 提供战略建议D. 制定预算E. 评估风险3. 成本倒退法是以下哪种成本估算方法的一种？（多选）A. 直接成本法B. 间接成本法C. 循环成本法D. 统计成本法E. 差异成本法4. 目标成本管理的基本步骤包括以下哪些？（多选）A. 确定目标成本B. 确定目标利润C. 确定市场需求D. 确定产品设计E. 确定成本驱动因素5. 成本-效益分析是以下哪种决策方法的一种？（多选）A. 增量分析B. 整体分析C. 边际分析D. 投资分析E. 风险分析三、案例分析题（2题，每题50分，共100分）案例一：某公司正在考虑投资一项新的生产项目，该项目的投资额为100,000美元，预计每年能为公司带来20,000美元的额外利润，该项目的使用寿命为10年，预计最后一年的利润将下降至15,000美元。
如果公司的折现率为10%，请根据净现值法确定该项目的投资是否值得。
案例二：某公司拥有两个产品线，产品A和产品B。
美国注册管理会计师CMA中文-P1考点回忆复原
美国管理会计师协会（IMA）美国注册管理会计师认证（CMA）考试全真模拟试题优财（中国）CMA培训中心面授模拟考试注意事项一、须知：※本考试仅需使用铅笔、橡皮、简易计算机（不可发声，以免影响他人学习）等工具,课桌上严禁摆放书本、笔记等物品。
※禁止使用带有编程功能的计算器。
※本次考试达标题数：选择题100道、简答题2道。
二、时间：※考试时间为上午8:30-12:30，共4小时；严禁随意走动。
※考试结束后请立即停止答题，将答题卡交给老师批改，并离开考场，严禁超时答题。
三、纪律：※请严格按照监考人员指示进行各项操作。
※考试期间应严守考场纪律，严禁交头接耳、偷看他人答题等违纪行为，否则以废卷处理。
※考前请将手机关机或调成振动，不能接听电话，如有上厕所请举手示意老师。
※请在答题卡相应位置用正楷字体写明自己的组名和姓名。
※所有答案都必须涂在答题卡上，标记在答题册的答案将不予计分。
1.固定成本和可变成本以下哪一种不正确A每件产品的固定成本会随着产量的减少而增加B一定时段内总固定成本保持不变C总可变动成本会随产量的增加而下降D总可变动成本会安比例随活动水平变化而改变2.作业成本核算法(ABC)作业管理法(ABM)哪一种是真的。
A ABC专注改善商品和服务的成本核算B.ABM专注于流程改进C.ABC和ABM都专注于流程改进D.ABC和ABM都专注于商品和服务的成本核算3.公司存货政策是维持下个月销售数量的10%，公司1-6月的销售数量如下，请问公司3月生产数量。
1月2000002月3000003月4000004月2800005月5000006月400000A:300000B:380000C:388000D:4000004分配制造费用，以人工小时为分配基础，部门A有60万费用，20万人工小时，部门B有40万费用，80万人工小时，现在要计算部门C的总的制造成本，已知直接材料2.5万元，用部门A8000小时，用部门B12000小时A:115000B:95000C:55000D:450005．某部门只生产2种产品，这两种产品为联合产品，下面是两种产品的成本信息：产品产品数量价格分离点后加工成本分离点后其他成本150016200025002250015135002500分离点前两种产品的联合成本是21000元，该部门使用可变现净值法分摊联合成本，请问产品1应分摊的联合成本是（A）A.2940B3500C3692D42006．吸收成本法较变动成本法的区别表现为（）A不是外部会计报表所要求的成本方法B诱使多生产分摊固定制造费用多的产品C期末存货不反映包括应分摊的固定费用D销货成本中仅包括变动制造费用7.某酒店准备进行项目A、B，项目A销售额1，400，000服务费1，000,000资产1，200，000项目B销售额1,000,000服务费700，000资产900，000该公司ROI至少为27%（只记到百万和十万位，后面有小数没记，请见谅)A:接受项目A拒绝项目BB:接受项目B拒绝项目AC:接受A,BD:拒绝A、B8.某蛋糕店销售蛋糕，预计销售105个每个5$实际为100个每个6$，出现此差异的可能原因A原材料成本大幅下降B生产设备维护水平提高C市场用工成本继续下行D房租续签，房东要求更高的房租费用9.某公司预算间接成本为200,000，按正常成本法，实际间接成本为225,000，目前预算间接成本已分配：在产品10,000产成品20,000销货成本170,000则销货成本余额会A:增加21,250B:增加8,333C:减少8,333D:减少21,25010.某公司的主计长举办月度会议，在会上，与预算相比不利差异达到10%的任何部门都必须对其差异进行解释并制定计划以纠正这种情况。
IMA管理会计案例答案
IMA管理会计案例答案管理会计是一种重要的会计学分支，旨在帮助管理者做出更好的商业决策。
通过分析财务信息和其他数据，管理会计帮助企业管理者了解业务绩效，并制定战略、计划和预算。
在本篇文档中，我们将讨论一些管理会计案例，并给出相应的答案。
案例一：成本-收益分析公司A正在考虑是否继续生产一种产品，该产品在市场上价格合适，但生产成本较高。
公司A的管理团队请你进行成本-收益分析，以确定是否应该继续生产该产品。
答案：成本-收益分析是一种重要的决策工具，通过比较产品的收益和成本来评估产品的盈利潜力。
对于公司A，我们首先计算该产品的单位销售价格和单位生产成本，然后计算每单位产品的毛利润。
接着，我们根据销量预测，计算总收益和总成本，最后得出该产品是否应该继续生产的结论。
案例二：预算编制公司B计划在新财年实施一项市场推广活动，管理团队向你寻求帮助，希望你协助编制活动的预算。
该市场推广活动需要考虑广告费用、人员成本、促销费用等各个方面的支出。
答案：预算编制是管理会计的核心内容之一，通过编制预算，企业可以设定明确的目标，并控制支出以实现这些目标。
对于公司B的市场推广活动，我们需要先列出各个方面的支出项，并估算每项支出的金额。
然后将这些支出项逐一总结，得出总预算数。
在编制预算时，我们还需要考虑风险因素，确保预算在实施过程中能够按照计划进行。
案例三：绩效评估公司C拥有多个生产车间，每个车间生产不同种类的产品。
管理团队希望你协助设计一个绩效评估体系，以评估各个车间的运营绩效，并为绩效优秀的车间提供奖励。
答案：绩效评估是管理会计中的重要环节，通过评估企业各方面的绩效，可以帮助企业管理者了解业务的运作情况，并对绩效较好的部门或个人进行奖励，激励他们创造更好的业绩。
对于公司C的生产车间，我们可以设计一个评估体系，包括各种指标如生产效率、产品质量、及时交货率等。
通过收集数据并分析评估结果，确定绩效最优秀的车间，并确定相应的奖励措施。
- 1、下载文档前请自行甄别文档内容的完整性，平台不提供额外的编辑、内容补充、找答案等附加服务。
- 2、"仅部分预览"的文档,不可在线预览部分如存在完整性等问题,可反馈申请退款(可完整预览的文档不适用该条件!)。
- 3、如文档侵犯您的权益，请联系客服反馈,我们会尽快为您处理(人工客服工作时间：9:00-18:30)。
美国注册管理会计师考试选择题部分练习题第二部分第二部分-财务决策1.Bisbee公司第1年的实际结果和第2年的预期结果的简要同比利润表如下所示。
第1年第2年销售额100%100%销货成本50%50%销售和管理费用40%?营业收益10%?Bisbee公司预计在第2年售出产品件数将增加5%，同时不会对客户提价，而从供应商处拿货的成本预计也不会增加。
假定销售和管理费用中有5%为变动部分、95%为固定部分。
如果所有预测结果都成为现实，则Bisbee公司第2年的销售和管理费用应该a.低于销售额的40%。
b.等于销售额的40%。
c.大于销售额的40%但不会超过销售额的42%。
d.大于销售额的42%。
2.Baldwin公司以占流动资产的百分比形式表示的存货量从去年七月的25%增加至今年七月的35%。
最不可能造成这种增加的因素是Baldwin公司a.是一家季节性公司，一般来说其夏季月份的作业量都会更高一些。
b.正在经历高速增长。
c.拥有逐渐过期的存货。
d.花费大量通过出售其短期投资获得的现金来购置土地。
3.以下哪种情况会降低公司的现金准备率？a.买入商业票据。
b.赊购材料。
c.以低于成本的售价出售商品来回收现金。
d.通过发行短期应付票据来获取现金。
4.下面所示为Arbat有限公司两个经营年度的财务信息。
第1年第2年销售额$4,000,000$4,400,000总营运成本$3,200,000$3,440,000息税前收益$800,000$960,000利息支出320,000275,000所得税245,000354,000净收益$235,000$331,000每股收益$ 2.35$ 3.31那么，Arbat有限公司的经营杠杆系数为a. 4.09。
b. 2.67。
c. 2.00。
d.0.75。
5.Transnational Motors公司已决定对其靠举债融资的经营资产进行追加投资。
假设所有其他因素均保持不变，这种追加投资将产生以下哪种影响？营业利润率资产总额周转率资产回报率a.增加不变增加b.不变降低降低c.不变增加降低d.降低降低降低6.Reading Manufacturing有限公司的总裁正在为该公司的每个制造工厂制定绩效目标。
下面的数据表示的是其中一座工厂的前一年业绩。
营业收入$400,000变动成本100,000固定成本200,000平均资产1,000,000平均负债200,000那么，该工厂的资产回报率为a.37.5%。
b.30.0%。
c.12.5%。
d.10.0%。
7.Mayson有限公司报告其去年的净收益为£3,500,000。
该公司在该年度有100,000普通股发行在外、面值为£1的普通股，并有5,000股库存的普通股。
Mayson公司已宣布针对其普通股派发每股£1的股利并已支付。
去年年末每股普通股的市价为£30，而每股普通股的账面价值为£10。
那么该公司该年度的股利率为a.10.00%。
b. 5.00%。
c. 3.33%。
d. 2.71%。
8.Zoron公司出现了以下同比变化。
利润率增加了25%资产周转率增加了40%总资产减少了10%总权益增加了40%采用杜邦分析法进行分析时，Zoron的权益回报率出现的同比变化是什么？a.提高了95.0%。
b.提高了63.0%。
c.提高了12.5%。
d.提高了10.0%。
9.以下哪一个比率受杂项收益或非经常性收益影响最大？a.纯利润率。
b.营业利润率。
c.毛利率。
d.负债权益比率。
10.某零售公司在本年度出现了销售额快速增长的现象一位分析师计算出该公司的各项比率如下。
前一年度本年度存货周转率 5.49.3应收账款周转率 4.2 3.5固定资产周转率 2.4 3.6酸性测试比率 1.5 1.2根据以上数据，该分析师可以总结出销售额增加是因为a.定价更有竞争力。
b.赊销政策更优惠。
c.在本年度有更多门店开业。
d.加强了对存货量的控制。
11.某公司提供了与其某一款产品有关的以下数据。
年度单位产品销量销售单价毛利率11,000$5045%21,200$5548%以下哪一项陈述是正确的？a.每件售出产品的成本在第2年降低了3%。
b.毛利额在第2年增加了3%。
c.在第2年，售价在提升百分比方面超过了每件售出产品的成本。
d.在第2年，每件产品的成本增加与单位产品销量的增幅相一致。
12.Acme公司的销售额为$100,000，销售成本为$40,000，利息费用为$4,000，税额为$18,000，业务费用为$15,000。
那么，Acme公司的营业利润率是多少？a.60%。
b.45%。
c.41%。
d.23%。
13.FreezeIt有限公司是一家位于美国境外的制冷系统制造商，在加拿大设有一家子公司。
该加拿大子公司将其生产的所有产品均出口到美国，目前不在加拿大销售其生产的任何产品。
该加拿大子公司发生的所有支出均以加元计算，产生的所有收入均以美元计算。
在美国的业务经营仅以美元为货币开展。
假定业务经营方面无变化，那么如果加元对美元汇率攀升，这将对该加拿大子公司产生何种财务影响？a.支出减少。
b.收入减少。
c.现金流量增加。
d.利润率增加。
14.如果采用间接法计算现金流量，必须将以下哪一项加回到净收益上？a.营业收入。
b.营销费用。
c.折旧费用。
d.利息收益。
wrence有限公司采用利润表方法估算出，从三年前成立至今其坏账率为3%。
在第四个经营年度期间，Lawrence公司根据其之前估算的坏账率记录了坏账支出后，认定其坏账率应提高到4.5%。
在第四个年度，Lawrence公司记录的销售额为$25,000,000，并且期末应收账款余额为$2,000,000。
这一变化会a.既降低营运杠杆又降低利息保障倍数。
b.使本年度的收益减少$1,125,000，并降低该公司的营运杠杆。
c.使本年度的收益减少$375,000，并提高该公司的营运杠杆。
d.使本年度的收益减少$30,000，并降低该公司的财务杠杆。
16.Blake有限公司已认定其某一台机器存在受损现象，由于没有可以将这台机器售出的活跃市场，所以该公司期望继续使用该机器至三个完整年度。
下面摘选了有关此项受损资产的一些信息（在认定存在这种受损现象之日）。
机器原始成本£22,000机器账面（持有）价值20,000利用价值15,000净售价12,000根据IFRS（国际财务报告准则），Blake公司需要记录的减值损失金额是多少？a.£3,000。
b.£5,000。
c.£7,000。
d.£8,000。
17.采用公允价值核算法时，在以下哪种情况下以公允价值报告负债将对公司有利？a.该公司有价值3,200万美元、交易价为$101的发行在外债券。
b.该公司有5,000万美元发行在外的可变利率优先股。
c.该公司有价值2,800万美元、交易价为$98的发行在外债券。
d.该公司有价值2,500万美元、交易价为$102的可回售债券。
18.经济利润与会计利润之间的主要区别在于，采用经济利润时a.在应计费用方面更加准确。
b.可以最小化会计估算的影响。
c.会从利润中扣减相关的资本成本。
d.按折旧成本调整会计利润。
19.Bellcon公司正在研究以下两个项目。
预期最低报酬率持有期投资项目A 5.75%4年投资项目B 6.25%4年根据上述有限的信息，以下哪一项是最为合理的结论？a.投资项目A对Bellcon公司而言是更好的选择。
b.投资项目B对Bellcon公司而言是更好的选择。
c.投资项目A的风险高于投资项目B。
d.投资项目B的风险高于投资项目A。
20.OldTime有限公司是一家在非常稳定的市场中开展业务经营的成熟公司。
过去十二年来的盈余增长率平均约为3.2%，刚好与通货膨胀率保持一致。
该公司的加权平均资本成本为8%，远低于多数公司。
John Storms刚刚受聘为OldTime公司的新任首席执行官，并希望将他所谓的“摇钱树”变成一家“成长型公司”。
Storms希望减少股利派发，并使用由此得到的留存收益来为该公司进军新产品线提供资金。
OldTime公司的历史β值一直为0.6左右。
随着这位首席执行官的改革，OldTime公司的β值及其股票的预期最低投资回报率最有可能出现什么情况？a.β值将下降，预期最低回报率将提高。
b.β值将下降，预期最低回报率也将下降。
c.β值将提高，预期最低回报率将下降。
d.β值将提高，预期最低回报率也将提高。
21.请使用资本资产定价模型(CAPM)并根据以下信息确定预期的市场风险报酬。
A投资项目的β值 1.4无风险回报率 3.0%A投资项目的预期回报7.4%a. 3.14%。
b. 6.14%。
c.7.43%。
d.8.28%。
22.某金矿开采公司预计从今日起的6个月内将售出10,000盎司黄金。
以下哪种举措可以对冲销售黄金方面的收入风险？a.在从今日起的6个月内在现货市场销售黄金。
b.在今日买入将在6个月后到期的10,000盎司黄金期货合约。
c.在今日售出将在6个月后到期的10,000盎司黄金期货合约。
b.在今日买入将在6个月后到期的5,000盎司黄金期货合约，并在今日售出将在6个月后到期的5,000盎司黄金期货合约。
23.在收益率曲线横轴上测量的是哪个变量？a.债券的到期年份。
b.债券收益率。
c.债券持续期间。
d.债券的面值。
24.Vega有限公司需要筹措$50,000,000用于扩张。
该公司有两个可供选择的方案，一是以面值出售7%的10年期债券；二是以面值出售5%的需要派发年股利的优先股。
Vega 公司的有效所得税率为30%。
以下哪一项最准确地描述了在发行后的第二年这两种方案在Vega现金流量方面的差别？a.采用发行债券的方案时，现金流量会增加$50,000。
b.采用发行债券的方案时，现金流量会增加$225,000。
c.采用发行股票的方案时，现金流量会增加$525,000。
d.采用发行股票的方案时，现金流量会增加$700,000。
25.某项看涨期权的持有人希望了解股票回报波动性降低和到期时间缩短分别对看涨期权的价格所产生的影响。
以下哪一项是对看涨期权的价格分别产生的影响？降低缩短股票回报波动性到期时间a.降低降低。
b.降低增加。
c.增加降低。
d.增加增加。
26.Zeta公司本年度的盈余为每股$2.00。
主计长通过现金流量折现模型确定出Zeta公司普通股的价值为每股$14。
假设长期增长率为5%，那么Zeta公司的预期最低报酬率是以下哪一项？a.20%。
b.15%。
c.10%。
d.7%。
27.就资本投资项目而言，以下哪项陈述最准确地描述了资本成本与预期内部回报率之间的关系？a.项目的内部回报率必须超过资本成本方可接受。