单选题Which of the following statement is least likely a violation of Standard Ⅵ (B), Priority of Transactions?

单选题An analyst is forecasting a company's financial performance for the next year and prepares the following pro forma financial statements. Actual Estimated {{U}}20X1{{/U}} {{U}}20X2{{/U}} Sales 1000000 1010000 Cost of goods sold 600000 606000 SG&A expenses 300000 303000 Interest expense 72000 72000 Earnigs before tax 20000 29000 Income tax 7000 7250 Net income 21000 21750 Dividends 8400 8700 Retained earnings 12600 13050 Pro Forma Balance Sheet Actual Estimated {{U}}20X1{{/U}} {{U}}20X2{{/U}} Current assets 600000 606000 PP&E,net 1300000 1313000 Total assets 1900000 1919000 Current liabilities 200000 202000 Long-term debt 900000 900000 Common stock 300000 300000 Retained earnings 500000 513050 Total liabilities and equity 1900000 1915050 The analyst is most likely to reconcile these pro forma financial statements by assuming the company: A. pays out the financial surplus as additional dividends. B. uses the financial surplus to pay down long-term debt. C. resolves the financial deficit by issuing long-term debt.

单选题The concept that forward rates reflect investors' expectations of future rates plus a liquidity premium to compensate them for exposure to interest rate risk is associated with which of the following explanations of the term structure of interest rates? A. Liquidity premium theory B. Segmented market theory. C. Expectations hypothesis.

单选题The arithmetic mean and geometric mean returns of the following series of stock market returns are: Year 1 14 percent Year 2 6 percent Year 3 -5 percent Year 4 20 percent Arithmetic Mean Geometric Mean ①A. 8.75% 8.34% ②B. 8.90% 8.62% ③C. 8.90% 8.34% A．① B．② C．③

单选题According to U.S. Generally Accepted Accounting Principles (GAAP) and International Accounting Standards (IAS) GAAP, should dividends paid be treated as a cash flow from financing (CFF) or as a cash flow from operations (CFO)? U.S. GAAP IAS GAAP ①A. CFO CFF ②B. CFF CFO ③C. CFF CFF or CFO

单选题Even though the producer surplus increases under a monopoly scenario, relative to one of perfect competition, the consumer surplus :

单选题ThefollowingtableshowsdataforthestockofJKUandamarketindex.Basedonthecapitalassetpricingmodel(CAPM),JKUismostlikely:

单选题Catherine, CFA, has just accept a new job as a quantitative analyst for Orisel Investment Management Company. Catherine developed a complex model while working for his previous employer and plans to recreate the model for Orisel. Catherine did not make copies of the model or any supporting documents since his employer refused to grant him permission to do so. Catherine will recreate the model from memory. Which of the following statements is most likely correct? A. Catherine can recreate the model without violating the Code and Standards as long as she also generating supporting documentation. B. Catherine can recreate the model without violating the Code and Standards without documentation if the model is modified from its original form. C. Catherine cannot recreate the model without violating the Code and Standards because it is the property of his former employer.

单选题Ananalystdeterminesthefollowingcashflowsforacapitalproject:year0123cash()-1003040403020Therequiredrateofreturnfortheprojectis13percent.Thenetpresentvalue(NPV)oftheprojectisclosestto:A.14.85B.60.00C.214.85

单选题Nigella Company has a 3-year contract to build a manufacturing plant for $2500

单选题Technically, an individual is unemployed when he or she is actively seeking employment or is: A. a retiree. B. not working at all. C. waiting to return to a job from which he or she was just laid off.

单选题A test of a hypothesis that the means of two normally distributed populations are equal based on two independent random samples: A. is based on a Chi Square statistic. B. is a paired -comparisons test. C. is done with a t -statistic.

单选题Fractional unemployment is best described as: A. from normal labor turnover. B. from changes in the skills needed to perform jobs. C. due to fluctuating unemployment over the business cycle.

单选题Which of the following is least likely to be a type of embedded option in a bond issue granted to bondholders? The right to:

单选题If a portfolio manager wants to sell a stock at a price above current market price, the best type of order to use is a: A. limit order. B. market order. C. stop sell order.

单选题A short position in a forward rate agreement is equivalent to: A. writing an interest rate put and buying an interest rate call. B. buying an interest rate put and an interest rate call. C. writing an interest rate call and buying an interest rate put.

单选题If a company has a deferred tax asset reported on its statement of financial position and the tax authorities reduce the tax rate, which of the following statements is most accurate concerning the effect of the change? The existing deferred tax asset will:

单选题In recently years, financial innovation and growth in real GDP increase the demand for money

单选题ForperiodsbeginningonorafterlJanuary2011,theGlobalInvestmentPerformanceStandards()requirethattotalfirmassetsbedefinedastheaggregatefairvalueofall:A.discretionaryassetsinfee-payingportfoliosmanagedbythefirm.B.discretionaryandnon-discretionaryassetsinfee-payingportfoliosmanagedbythefirm.C.discretionaryandnon-discretionaryassetsinfee-payingandnon-fee-payingportfoliosmanagedbythefirm.

单选题If Jackson Ski Company issues common stock, and uses the proceeds to purchase fixed assets such as equipment: A. cash flow from financing would decrease and cash flow from investing would increase. B. both cash flow from operations and cash flow from financing would decrease. C. cash flow from financing would increase and cash flow from investing would decrease.