答案和详解如下： 1.Would the following ratios be useful in measuring the profitability of a firm?
Ratio #1 – Cash plus short-term marketable investments plus receivables divided by average daily cash expenditures.
Ratio #2 – Earnings before interest and taxes divided by average total assets.
A) No No B) Yes Yes C) Yes No D) No Yes The correct answer was D) (Cash + short-term marketable investments + receivables) divided by average daily cash expenditures is known as the defensive interval ratio. The defensive interval ratio is a liquidity ratio that measures the firm’s ability to pay cash expenditures in the absence of external cash flows, but does not directly measure profitability. EBIT / average total assets is one variation of the return on assets ratio. Return on assets is a profitability ratio that measures the efficiency of managing assets and generating profits.
2.What type of ratio is revenue divided by average working capital and what type of ratio is average total assets divided by average total equity? Revenue / Average working capital | Average total assets / Average total equity |
A) Activity ratio Liquidity ratio B) Profitability ratio Liquidity ratio C) Profitability ratio Solvency ratio D) Activity ratio Solvency ratio The correct answer was D) Revenue divided by average working capital, also known as the working capital turnover ratio, is an activity ratio. Average total assets divided by average total equity, also known as the financial leverage ratio, is a solvency ratio.
3.Are the quick ratio and the debt-to-capital ratio used primarily to assess a company’s ability to meet short-term obligations? Quick ratio | Debt-to-capital ratio |
A) Yes No B) Yes Yes C) No No D) No Yes The correct answer was A) The quick ratio is a liquidity ratio. Liquidity ratios are used to measure a firm’s ability to meet its short-term obligations. The debt-to-capital ratio is a solvency ratio. Solvency ratios are used to measure a firm’s ability to meet its longer-term obligations. | 
发表于 2008-4-22 10:45
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