单选题A finn presented the following income statement, which complies with the 1 standards under which it must report: Sales 20535 Cost of goods sold 14525 Operating expenses 2530 Operating income 3480 Income taxes 1220 Income from continuing operations 2260 Extraordinary items, net of tax (525) Net income 1735 In the next year the firm borrows $10 million to finance construction of a capital asset. Based on the differences between U.S. GAAP and International Financial Reporting Standards, this firm : A. must capitalize the construction interest. B. must not capitalize the construction interest. C. may choose to capitalize the construction interest.
单选题Jorge Lopez, CFA, is responsible for proxy voting on behalf of his banks asset management clients
单选题The financial manager at Johnson & Smith estimates that its required rate of return is 11 percent. Which of the following independent projects should Johnson & Smith accept? A. Project A requires an up- front expenditure of $1000000 and generates an NPV of -$4600. B. Project B requires an up - front expenditure of $ 600000 and generates a positive internal rate of return of 12.0%. C. Project C requires an up - front expenditure of $100000 and generates a negative IRR of 3.2%.
单选题A trader buys 500 shares of a stock on margin at $36 a share using an initial leverage ratio of 1
单选题At the beginning of the year, a lessee company enters into a new lease agreement that is correctly classified as a finance lease, with the following terms:
annual lease payment due 31 December
$100000
lease term
5 years
appropriate discount rate
12%
depreciation method
straight-line basis
estimated salvage value
$0
With respect to effect of the lease on the company"s financial statements in the first year of the lease, which of the following is most accurate?
单选题With respect to a capital budgeting analysis, which of the following is most likely included in the computation of a project's cash flow? A. Sunk costs. B. Financing costs. C. Opportunity costs.
单选题Nominal gross domestic product (GDP) in 2000 is 3
单选题According to the characteristics of the capital market, which of the following is most directly a function of primary capital markets and which is most directly a function of secondary capital markets?
Primary capital markets Secondary Capital markets
①A. Source of liquidity Security underwriting
②B. Source of new capital Source of price information
③C. Source of price information Source of new capital
A. ①B. ②C. ③
单选题An analyst gathered the following data on Stock A and Stock B:
Scenario
Probability
Stock A"s return
Stock B"s return
1
0.5
0.30
0.150
2
0.5
0.15
0.075
What is the covariance between the returns of Stock A and Stock B?
单选题An analyst does research about duration. Which of the following measure is the lowest for a currently callable bond? A. Macaulay duration. B. Effective duration. C. Modified duration.
单选题Which of the following is least likely to appear as an asset on the U. S. Federal Reserve's (Fed's) balance sheet?
单选题A five-year bond with a 8.00 percent semiannual coupon currently trades atl02. 345 percent of a par value of $1000. Which of the following is closest to the current yield on the bond?
单选题In the dominant firm model of oligopoly, it is least likely that one firm:
单选题Which of the following would most likely result in a current liability?
单选题According to the crowding-out model, persistent, large government budget deficits are most likely to be associated with a(n)（ ）
单选题Firms in a perfectly competitive industry will increase their output until which of the following conditions is met? A. Total revenue equals price. B. Marginal cost equals price. C. Marginal revenue equals average fixed cost.
单选题Given the following information about a company:
What is the most appropriate conclusion an analyst can make about the solvency of the company? Solvency has:
单选题An equity forward contract may be on all of the following assets EXCEPT a(n):
单选题The settlement price for a futures contract is:
单选题Praful Chandarana, CFA, is starting a new business to offer investment-consulting services to pension fund trustees in response to a new regulation that requires all pension fund Investment Policy Statements (IPS) to be reviewed and approved by an independent CFA Charterholder