单选题Selected information from Kentucky Corp. ' s financial statements for the year ended December 31 was as follows (in $ millions) : Property, Plant & Equip. 10 Accumulated Depreciation (4) Deferred Tax Liability 0.6 The balances were all associated with a single asset. The asset was permanently impaired and has a present value of future cash flows of $ 4 million. After Kentucky writes down the asset, Kentucky' s tax accounts will be affected as follows ( the tax rate is 40 percent) : A. deferred tax liability will be eliminated and deferred tax assets will increase $ 0.2 million. B. deferred tax liability will be eliminated and tax assets will increase $1.4 million. C. income tax expense will decrease $ 0. 8 million.
单选题The term "automatic stabilizers" refers to the fact that: A. with given tax rates and expenditure policies, a rise in national income tends to produce a surplus, while a decline tends to result in a deficit. B. legislators automatically change the tax structure and expenditure programs to correct upswings and downswings in business activity. C. government expenditures and tax receipts automatically balance over the course of the business cycle, although they may be out of balance in any single year.
单选题Jackson Barnes, CFA, works for an insurance company providing financial planning services to clients for a fee
单选题Lynne Hampton purchased 100 shares of $75 stock on margin. The margin requirement set by the Federal Reserve Board was 40 percent, but Hampton's brokerage firm requires a total margin of 50 percent. Currently the stock is selling at $62 per share. What is Hampton's return on investment before commission and interest if she sells the stock now?
单选题When individuals are unemployed because they do not have perfect information concerning available jobs, this is:
单选题In a full employment economy the quantity theory of money states that any increase in the supply of money in excess of the rate of growth of real GDP will lead to:
单选题The footnotes to a firms financial statements are least likely to include（ ）
单选题An investor sold a stock short and is worried about rising prices. To protect himself from rising prices he would place a:
单选题Which of the following is least likely to be a valid function/characteristic of money? Money:
单选题A candidate for public office has proposed a program of wealth transfers based on the principles of utilitarianism. In support of her proposal, she makes the following statements: Statement 1: "Increasing taxes on high income earners will cause them to work more hours to maintain their after-tax income, resulting in greater economic output. " Statement 2: "The government will need to hire people to manage and administer the wealth transfers. These new jobs will further expand economic output. " Are these statements correct or incorrect? Statement 1 Statement 2 ①A. Incorrect Correct ②B. Correct Incorrect ③C. Incorrect Incorrect
单选题Selected information from Ingot Company' s financial statements for the year ended December 31,2004, was as follows prior to the consideration of its impaired asset write-down ( in $ ) :
单选题If the admission price for a rock concert is raised from $ 25 to $ 30 causing sales to drop from 60000 to 40000, the price elasticity of demand for tickets to the concert is:
单选题A price-weighted series is composed of the following three stocks:
单选题Which of the following actions is a required, rather than recommended, action under the Standard regarding diligence and a reasonable basis for a firm"s research recommendation?
单选题There are several types of external credit enhancements. All of the
following are examples of external credit enhancements EXCEPT:
A. corporate guarantees.
B. letters of credit.
C. setting aside reserve funds.
单选题A bond market analyst states, The current term structure of interest rates is upward sloping which implies the market believes short-term interest rates will rise in the future
单选题The following footnote appeared in Crabtree Company" s 20×7 annual report:
"On December 31, 20×7, Crabtree recognized a restructuring charge of $ 20 million, of which $ 5 million was for severance pay for employees who will be terminated in 20×8 and $15 million was for land that became permanently impaired in 20×7. "
Based only on these changes, Crabtree" s net profit margin and fixed asset turnover ratio in 20× 8 as compared to 20×7 will be?
Net profit margin Fixed asset turnover
①A. Higher Higher
②B. Lower Unchanged
③C. Higher Unchanged
单选题A portfolio manager anticipates a major increase in market interest rates. Which trading strategy would be most likely to generate above average returns in a bond investment? Purchasing: A. short maturity bonds with high coupon rates. B. speculative grade bonds with high coupon rates. C. bonds that will increase the average duration of the investment portfolio.
单选题An analyst does research about margin transaction. An investor borrows $8000 to purchase 1000 shares of stock on margin, the price of a share is $20, the investor's leverage ratio is closest to: A. 0.40 B. 1.67 C. 2.50
单选题Unemployment compensation is an example of: A. a discretionary fiscal policy stabilizer. B. an automatic fiscal policy stabilizer. C. an automatic monetary policy stabilizer.