Financial management [4]

1. An investment plan is based on 8% The net present value calculated by the discount rate is greater than zero , that , The IRR of this scheme is greater than 8%.

A. Yes
B. wrong

2. The higher the growth rate of total assets , It shows that the faster the expansion of asset operation scale in a business cycle , The greater the potential for enterprise development .

A. Yes
B. wrong

3. Stock option is the priority of preferred shareholders .

A. Yes
B. wrong

4. When calculating the yield of long-term securities , The time value of capital should be considered .

A. Yes
B. wrong

5. International Economic and political relations will affect the level of interest rates .

A. Yes
B. wrong

6. Net interest rate means that inflation is not taken into account 、 The average social rate of return in a risk-free state .

A. Yes
B. wrong

7. There is a positive proportional relationship between the scale of net assets and income .()

A. Yes
B. wrong

8. The analysis methods of financial statements mainly include ratio analysis 、 Factor analysis and trend analysis .

A. Yes
B. wrong

9. In the process of optimizing the capital structure , The plan with the minimum comprehensive capital cost must be the plan with the maximum profit per common share .

A. Yes
B. wrong

10. An enterprise issues ordinary shares with fixed dividend growth , The market price is 10 element / stocks , The dividend for the first year is expected to be 2 element , Financing rate 4％, It is known that the capital cost of the stock is 23.83%, Then the annual growth rate of dividends is 2.5％.

A. Yes
B. wrong

11. Common stock has a dual nature , It belongs to both its own funds and bonds .

A. Yes
B. wrong

12. When there are enough stock types , Almost all system risks can be dispersed .

A. Yes
B. wrong

13. Working capital is necessary in the normal operation of an enterprise , The working capital of the enterprise , In particular, the more monetary funds, the better ._____

A. Yes
B. wrong

14. When the company is financing , First, we should use the issuance of common shares to finance , Then consider using retained earnings to finance .

A. Yes
B. wrong

15. Usually risks and benefits are accompanied , Change in a positive direction . The greater the risk , The bigger the proceeds. , vice versa .

A. Yes
B. wrong

16. The listing of a company's shares is for the company , Only good , There is no harm in , If it is convenient to raise new funds 、 Promote the circulation and transfer of equity 、 Easy to determine the value of the company .

A. Yes
B. wrong

17. Judging from the loan relationship of funds , Interest rate is the transaction price of using capital resources in a certain period of time .

A. Yes
B. wrong

18. Based on full investment assumption , In the project investment, the repayment of loan principal by the enterprise shall not be treated as cash outflow , However, the interest paid by the enterprise needs to be treated as cash outflow .

A. Yes
B. wrong

19. The higher the company's asset liability ratio , The stronger the guarantee of debt repayment .

A. Yes
B. wrong

20. Increase collection expenses , Will reduce bad debt losses , When the collection fee increases to a certain extent , There will be no bad debt loss .

A. Yes
B. wrong

21. Reduce binding fixed costs , It should be through careful calculation , saving , Eliminate waste, etc .

A. Yes
B. wrong

22. Fixed rate dividend policy , It can closely combine Dividends with the company's earnings , In order to reflect more profit and more points 、 The principle of less profit and less share .

A. Yes
B. wrong

23. When the company is short of cash , Securities can be sold at any time to supplement funds , Or through various financing methods such as short-term loans , Raise the necessary funds , Fill the gap .

A. Yes
B. wrong

24. The risk of debt financing is high , It means that its interest burden is heavy .

A. Yes
B. wrong

25. The advantage of the two static indicators, investment profit margin and investment payback period, is that the calculation is simple , Easy to learn , Cash flow is considered .

A. Yes
B. wrong

26. The liquidity of securities investment is directly proportional to the risk .

A. Yes
B. wrong

27. Comparison of multiple mutually exclusive schemes , Generally, the scheme with large net present value should be selected .

A. Yes
B. wrong

28. When evaluating the financial feasibility of the investment project , If the evaluation conclusion of investment payback period or accounting rate of return is inconsistent with the evaluation conclusion of net present value index , The conclusion of the net present value index shall prevail .

A. Yes
B. wrong

29. Notes payable are the same as accounts payable , All are commercial credit without financing cost .

A. Yes
B. wrong

30. Beta coefficient reflects the company's unique risk , The larger the coefficient , The greater the company specific risk .

A. Yes
B. wrong

31. Regardless of income tax , The same investment scheme adopts the rapid depreciation method 、 The straight-line depreciation method will not affect the net cash flow of each year .

A. Yes
B. wrong

32. A company whose total registered capital consists of equal shares and raises capital by issuing shares is called a joint stock limited company .

A. Yes
B. wrong

33. The internal rate of return is to make the profit index of the project equal to 1 Discount rate .

A. Yes
B. wrong

34. In the radical （ Adventurous ） In the financing policy , Temporary liabilities are only used to meet the capital occupation needs of volatile current assets .

A. Yes
B. wrong

35. Capital reserve and surplus reserve can be used to increase capital and cover losses .

A. Yes
B. wrong

36. Before the losses of previous years are made up , No profit shall be distributed to investors .

A. Yes
B. wrong

37. The company's credit policy is to balance the risk and return of accounts receivable .

A. Yes
B. wrong

38. The value of any asset can be increased or decreased over time , Comparable in time .

A. Yes
B. wrong

39. The profit index of the known project is 1.2, Then we can know that the net present value rate of the project is 2.2.

A. Yes
B. wrong

40. The total investment is the initial investment , It refers to the enterprise to make the project fully reach the designed production capacity 、 All actual funds invested for normal operation .

A. Yes
B. wrong

41. Supply chain financing is to find a large core company in the supply chain , Take the core company as the starting point , Provide financial support for node companies in the supply chain .

A. Yes
B. wrong

42. The opportunity cost of giving up cash discount is the basis for the company to decide whether to enjoy cash discount .

A. Yes
B. wrong

43. In terms of risk , The order from big to small is ： Government securities 、 Corporate securities 、 Finance and Securities .

A. Yes
B. wrong

44. Cash discount refers to the deduction made by the company to customers on the purchase quantity of goods .

A. Yes
B. wrong

45. Enterprises are expected to have an investment opportunity , The fixed rate dividend policy is better .

A. Yes
B. wrong

46. The operating net interest rate of an enterprise last year was 6.2%, The asset turnover rate is 1.8; The net operating interest rate this year is 6.4%, The asset turnover rate is 1.46%. If the asset liability ratio is the same in two years , This year's return on net assets is on the rise compared with last year .

A. Yes
B. wrong

47. The level of equity multiplier depends on the capital structure of the enterprise , The higher the debt ratio , The lower the equity multiplier , The greater the financial risk .

A. Yes
B. wrong

48. Liquidity risk subsidy rate refers to the risk caused by the debtor's failure to repay the principal and interest on time , Interest rate raised at the request of creditors .

A. Yes
B. wrong

49. When the fixed rate dividend policy is adopted to distribute profits , Dividends are not affected by operating conditions , It is conducive to the stability of the company's stock price .

A. Yes
B. wrong

50. At the same interest rate 8% Under the circumstances , The first 10 At the end of the year 1 The present value coefficient of Yuan compound interest is greater than 8 At the end of the year 1 Present value coefficient of Yuan compound interest .

A. Yes
B. wrong

51. For listed companies , The stock price in the spot market can directly reveal the profitability of the company .

A. Yes
B. wrong

52. The cash ratio refers to the ratio of the monetary capital of the enterprise to the current liabilities of the enterprise .

A. Yes
B. wrong

53. Retained earnings are the internal accumulation in the operation of an enterprise , Such funds are not raised from outside , So it has no capital cost .

A. Yes
B. wrong

54. The indicators reflecting the development ability of enterprises mainly include business growth rate and profit growth rate .

A. Yes
B. wrong

55. The larger the proportion of corporate liabilities in sales , The smaller the external capital needs ._____

A. Yes
B. wrong

56. The stock split will not have any impact on the company's capital structure and shareholders' equity , But it will reduce the par value per share , And the resulting decline in earnings per share and market price per share .

A. Yes
B. wrong

57. The complete project calculation period includes trial production period and delivery period .

A. Yes
B. wrong

58. When the coupon rate of a bond is greater than the market interest rate , The market price of a bond is usually higher than its face value .

A. Yes
B. wrong

59. Compared with direct financing, indirect financing is flexible and convenient 、 Scale economy 、 The advantages of improving the efficiency of the use of funds .

A. Yes
B. wrong

60. Using factor analysis , You can analyze the main reasons for the change 、 Nature of change , It can also predict the future development prospect of the enterprise .

A. Yes
B. wrong

61. For multiple investment schemes , Whether the expectations of each scheme are the same or not , The scheme with the largest coefficient of variation must be the scheme with the least risk .()

A. Yes
B. wrong

62. The size of portfolio investment risk , Equal to the weighted average of the risks of each security in the portfolio .

A. Yes
B. wrong

63. In the daily management of accounts receivable , For accounts receivable that have exceeded the credit period , generally speaking , The longer the delay , The more likely it is to form bad debts .

A. Yes
B. wrong

64. Ordinary annuity refers to an annuity that receives and pays an equal amount of money at the beginning of each period .

A. Yes
B. wrong

65. The financing expenses in the cost of capital refer to the expenses that must be paid by the enterprise for the use of capital in the process of production and operation .

A. Yes
B. wrong

66. If a listed company that issues preferred shares fails to pay dividends on preferred shares as required , Preferred shareholders have the right to require the company to go bankrupt ._____

A. Yes
B. wrong

67. Interest free debt financing is an independent financing activity , Arising from trading activities .

A. Yes
B. wrong

68. The fixed rate dividend policy will not cause the feeling of enterprise operation instability , It is conducive to the market image of the enterprise and the maintenance of the stock market price .

A. Yes
B. wrong

69. Capital asset pricing model is a market pricing model to measure the expected return compensation for a dispersible risk .

A. Yes
B. wrong

70. Financial leverage is greater than 1, It shows that the company's EBIT in the base period is insufficient to pay the current debt interest .

A. Yes
B. wrong

71. When calculating the cash inflow of the project , The substitution of operating income for operating cash inflow is due to the assumption that there is no credit sale in the year .

A. Yes
B. wrong

72. Although financial leasing is faster than borrowing to purchase equipment 、 More flexible , But the rent is also much higher than the interest on the loan .

A. Yes
B. wrong

73. Main business income is not a good representation of total assets 、 Turnover of current assets and fixed assets , The turnover rate calculated on this basis is of little significance .()

A. Yes
B. wrong

74. It is generally believed , If the estimated net present value of a project is negative , It does not necessarily mean that the expected profit of the project is also negative .

A. Yes
B. wrong

75. Use loose （ steady ） Our investment policy , It will reduce the profitability of the company's current assets , However, due to the strong liquidity of current assets , Therefore, its short-term repayment risk is also relatively small .

A. Yes
B. wrong

76. The future cash flow return of common shareholders' investment in stocks refers to their income from the sale of stocks .()

A. Yes
B. wrong

77. Capital cost includes two parts: capital cost and financing cost , Relative numbers are generally used to express , It is expressed as the ratio of the sum of financing expenses and capital utilization expenses to the financing amount .

A. Yes
B. wrong

78. Raising the conservative quick ratio not only enhances the short-term solvency of enterprises , Moreover, it improves the capital income level of the enterprise .

A. Yes
B. wrong

79. Stepped dividend policy is conducive to enhance the flexibility of enterprises , It also plays a positive role in maintaining the confidence of investors and the market price of stocks .

A. Yes
B. wrong

80. There is a risk of default on any security .

A. Yes
B. wrong

81.() Indicators are not indicators to evaluate the short-term solvency of enterprises .

A. Current ratio
B. Quick ratio
C. Cash flow ratio
D. Equity ratio

82. In the method of evaluating the economic effect of investment scheme ,（） It belongs to the non discounted cash flow method .

A. Net present value method
B. Static payback period method
C. Internal rate of return method
D. Profitability index method

83. Through what channels does the company 、 How to finance , The main consideration is （） factors

A. Possibility and convenience
B. Policy and environment
C. Business mode and capital structure
D. Financing costs and risks

84. An enterprise obtains a loan from a bank 100 Ten thousand yuan , Time limit 1 year , Contract interest rate 10%, The proportion of bank loans 10% Requirements for compensatory balances , Then the effective interest rate of the loan is （）.

A.9%
B.9.11%
C.10.11%
D.11.11%

85. The reciprocal of the present value coefficient of annuity is （）.

A. Annuity present value coefficient
B. Investment recovery factor
C. Final value coefficient of compound interest
D. Sinking fund coefficient

86. In the cash budget statement ,() All possible events in the budget period shall be listed by category .

A. Cash receipts and payments items
B. Fund increase and decrease items
C. Capital inflow and outflow projects
D. Operating income and expenditure items

87. The financial leverage factor of a company is equal to 1, This shows that the company is ().

A. Interest and preferred stock dividends are zero
B. Interest is zero , It is difficult to determine whether there is a preferred stock dividend
C. Interest and EBIT are zero
D. Interest and fixed costs are zero

88. Among the following financing methods, those that raise the liabilities of metal enterprises are (). Please below （1）-（4） Choose all the options that match the meaning of the question ：（1） Bank loans ;（2) Issue bonds ;（3） finance lease ;（4） Commercial credit .

A.（1）、（2）、（4）
B.(1)、（2）、（3）
C.（3）、（4）
D.(1)、（2）、（3）、（4）

89.ABC The company issues bonds , Face value 1000 element , The coupon rate 10%, Time limit 10 year .（1） If the bond pays interest once a year , To repay a principal at maturity . When the market interest rate is 9% when , How much should the bond be priced ？（2） If the bond pays interest once a year , To repay a principal at maturity . When the market interest rate is 12% when , How much should the bond be priced ？（3） If the bond is due to repay the principal and interest in a lump sum , When the market interest rate 9% when , How much should the bond be priced ？( element ）(）

A.（1）1064.2 element ;（2）887 element ;（3）802.6 element
B.（1）1063.2 element ;（2）877 element ;（3）800.6 element
C.（1）1060.2 element ;（2）887 element ;（3）800.6 element
D.（1）1062.2 element ;（2）857 element ;（3）802.6 element

90. The fundamental reason why the company adopts the surplus dividend policy to distribute profits is （）

A. Make the company's profit distribution more flexible
B. Reduce the comprehensive capital cost
C. Stabilize the profit distribution to shareholders
D. Make the profit distribution to shareholders closely combined with the company's earnings

91. The registered capital consists of equal shares and is raised by issuing shares （）.

A. Sole proprietorship
B. Joint venture
C. merged company
D. limited company

92. Enterprises absorb individual funds of residents , The financing methods that can be adopted are (). Please select the following （1）-（4） All the options that match the meaning of the question ：（1） Absorb direct investment ;（2） Issue of shares ;（3） finance lease ;（4） Issue company securities

A.（1）、（2）、（4）
B.(1)、（2）、（3）
C.（2）、（4）
D.（2）、（3）、（4）

93. In the following , Included in the cash budget are (). Please below （1）-（4） Choose all the options that match the meaning of the question ：（1） Operating cash income ;（2) Operating cash expenditure ;（3） Capital cash disbursements ;（4） Difference between cash receipts and payments E forehead .

A.（1）、（2）、（4）
B.(1)、（2）、（3）
C.（3）、（4）
D.(1)、（2）、（3）、（4）

94. The internal factors affecting operating capacity are ()

A. Industry characteristics
B. Business background
C. Business cycle
D. Asset management policies and methods

95. The value of a certain amount of monetary capital after a certain period of time , be called （）.

A. The final value of compound interest
B. Present value of compound interest
C. The final value of annuity
D. Present value of annuity

96. The portfolio can be diversified ().

A. All risks
B. Systemic risk
C. Non systematic risk
D. market risk

97. Compared with the goal of profit maximization, the goal of shareholder wealth maximization has the advantages of （）

A. Considering the time value of money
B. Regardless of risk factors
C. Pay attention to the protection of the interests of relevant stakeholders
D. It will lead to the short-term behavior of the enterprise

98. According to China's current financial and tax system , The annual loss incurred by the company can be covered by the pre tax profit of the next year , The profit before tax of the next year is insufficient to make up for , Can continue in （） Make up for... With pre tax profit during the year .

A.10
B.8
C.2
D.5

99. A company decides to invest in the production and sale of a new product , Unit selling price 800 element , Unit variable cost 360 element . The company conducts market research , Think of the future 7 The new product can be sold every year in 4000 Pieces of , It will lead to the company's existing high-end products ( The price is 1100 element ／ Pieces of , Variable cost 550 element ／ Pieces of ) Our sales volume decreases every year 2500 Pieces of . expect , New product lines — After getting on the horse , The company's annual fixed cost will increase 10000 element . And by calculation ; Plant required for new product line 、 The total input cost of the machine is 1610000 element , Depreciate on a straight-line basis , The service life of the project is 7 year . Corporate income tax rate 40％, The necessary rate of return for the company's investment is 14％.( It is known that ：PVIFA(14％,7)=4.288) According to the above requirements , Calculate the payback period and net present value of the product line , And explain whether the new product line is feasible .()

A. Payback period 4 year , net present value -250604 element , The new investment project is not feasible .
B. Payback period 5 year , net present value 250704 element , The new investment project is feasible .
C. Payback period 6 year , net present value 250704 element , The new investment project is feasible .
D. Payback period 5．08 year , net present value -250704 element , The new investment project is not feasible .

100. In the transaction , Total purchase value 100 Ten thousand yuan , The credit given by the customer to the enterprise is “2/10,1/20,n/30”, Then the opportunity cost of giving up cash discount is （）.

A.2 Ten thousand yuan
B.18.5%
C.36%
D.36.7%