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CFA一级 Financial Reporting and Analysis(下) 经典习题

编辑:finance365/时间:2017-01-19/浏览:343 views

【题1】 A companyrecorded the following events in 2010:

20170104100556001.png

On the 2010statement of cash flows, the company’s cash flow from investing activities (in

$’000s) isclosest to:

A. -$275.

B.  -$215.

C.  $285.

【题2】Thefollowing financial data are available for a company:

20170104100644002.png

Cash paid to suppliers& cash interest (€ thousands) in 2012 is closestto:

A.  Cash paid to suppliers is 300 and cash interest =100

B.  Cash paid to suppliers is 700 and cash interest =100

C.  Cash paid to suppliers is 900 and cash interest =300

【题3】 Assume U.S. GAAP applies unless otherwise noted.

In 2010, a company reported net income of $200 million and cash flow from operations of $120 million. All else equal, the most likely explanation for the difference between net income and cash flow from operations in 2010 is that the company:

A. Tightened credit policies and increased collection efforts during the year.

B. Sold a long term investment for an amount equal to book value at the end of the year.

C. Increased raw materials inventory in anticipation of increased sales at the end of the year.

【题4】Which of the following is least likely to be a reason a company would securitize its accounts receivable? To increase:

A. Net income.

B. Operating cash flows.

C. Financing cash flows.

【题5】 An analyst gathers the following annual information ($ millions) about a company that pays no dividends and has no debt:

20170104100706003.png

The company’s annual free cash flow to equity ($ millions) is closest to:

A. 53.1.

B.  58.4.

C.  61.6.

【题6】 A company manufactures aluminum cans for the beverage industry and prepares its financial statements in accordance with IFRS. During its latest full fiscal year, the company recorded the following data:

20170104100726004.png

The total costs included in inventory (in €) for the year are closest to:

A. 149,820.

B.  150,460.

C.  150,980.

【题7】 In a period of rising prices, when compared to a company that uses weighted average cost for inventory, a company using FIFO will most likely report higher values for its:

A. return on sales.

B.  inventory turnover.

C.  debt-to-equity ratio.

【题8】A company, which prepares its financial statements according to IFRS, owns several investment properties on which it earns rental income. It values the properties using the fair value model based on prevailing rental markets. A summary of the properties’ valuations is as follows:

20170104100749005.png

Which of the following best describes the impact of the revaluation on the 2011 financialstatements?

A. €6.5million charge to net income

B. €6.5million charge to revaluation surplus

C. €4.5million charge to revaluation surplus and €2.0 million charge to net income

【题9】Which of the following will most likely increase a company’s operating cash flow? An increase in:

A. days sales payable (DSP).

B.  gains on the sale of long-term assets.

C.  use of operating leases versus financing leases.

【题10】A company prepares its financial statements according to U.S. GAAP and leased a piece of equipment on 1 January 2012. Information relevant to the transaction is as follows:

  • Five annual lease payments of $25,000, with the first payment due 1 January 2012.
  • Interest rate on similar company debt is currently 8%.
  • The fair value of the equipment is $115,000.
  • Useful life of the equipment is seven years.
  • The company depreciates other equipment in the same asset class on a straight-line basis. The total expense related to the lease on the company’s 2012 income statement will be closest to:

A. $22,024.

B. $25,000.

C. $28,185.

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