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CFA一级 Financial Reporting and Analysis 经典习题

编辑:finance365/时间:2017-01-26/浏览:426 views

【题1】 Information about a company’s planned capital expenditures is most likely found in the:
A. proxy statement.
B. notes to the financial statements.
C. management discussion and analysis.

【题2】The following financial statement data are available for a company:

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The company’s cash return on assets ratio is closest to:

A. 10%
B. 12%
C. 13%

【题3】The following selected data are available for a firm:

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If the firm’s tax rate is 40%, the free cash flow to the firm (FCFF) is closest to:
A. 57.9
B. 74.7
C. 87.7

【题4】 Which of the following statements about balance sheets is most accurate? Under:
A. U.S. GAAP, intangibles must be valued at historical cost.
B. IFRS, a commercial real estate company should use a liquidity based presentation.
C. IFRS, a classified balance sheet must present current assets before non-current assets.

【题5】During 2012, Company A sold a piece of land with a cost of $6 million to Company B for $10 million. Company B made a $2 million down payment with the remaining balance to be paid over the next 5 years. It has been determined that there is significant doubt about the ability and commitment of the buyer to complete all payments. Company A would most likely report a profit in 2012 of:
A. $4 million using the accrual method.
B. $0.8 million using the installment method.
C. $2 million using the cost recovery method.

【题6】If a company chooses to capitalize an expenditure related to capital assets instead of expensing it, ignoring taxes, the company will most likely report:
A. A lower cash flow per share in that period.
B. A higher earnings per share in future periods
C. The same free cash flow to the firm in that period

【题7】The valuation technique under which assets are recorded at the amount that would be received in an orderly disposal is:
A. current cost.
B. present value.
C. realizable value.

【题8】Assume U.S. GAAP (generally accepted accounting principles) applies unless otherwise noted.
At the beginning of 2010, a company entered into a contract to build a road for the government. Construction will take three years. A three-year contract for €10 million was undertaken with a 30% gross profit anticipated. The project is now at the end of its second year, and the following 31 December 2011 information is available:

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Which of the following statements is most accurate?
A. A company uses the percentage-of-completion method to recognize revenue, and the gross profit recognized in 2011 is closest to €617,500.
B. A company uses the complete-contract method to recognize revenue, and the gross profit recognized in 2011 is closest to €0.
C. A company uses the percentage-of-completion method to recognize revenue, and the gross profit recognized in 2011 is closest to €750,000.

【题9】 An example of an expense classification by function is:
A. Tax expense.
B. Interest expense.
C. Cost of goods sold.

【题10】The following information is from a company’s investment portfolio: both are held-to-maturity, and maturity date is 31 Dec 2015
Market value, 31 Dec 2012 $ 17,000
Cost/Amortized cost 31 Dec 2012 22,000
Market value, 31 Dec 2012 10,000
Cost/Amortized cost 31 Dec 2012 20,000

If the investment is reclassified as trading securities as of 31 December 2012, the balance sheet and income statement carrying value of the company’s investment portfolio would most likely:
A. Investment account remains the same, and no profit and loss.
B. Investment account increases $15,000, and no profit and loss in income statement.
C. Investment account decreases $15,000, and unrealized loss 15,000 reported in income statement.

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