2008 CFA Level 1 － Sample 样题(3)－Q41 accounting, class, applies, otherwise, principles

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41、Assume U.S. GAAP (generally accepted accounting principles) applies unless otherwise noted.

An analyst gathered the following information ($ millions) about four companies operating in the same industry:

Company      Annual Depreciation Expense     Accumulated Depreciation

1     10.8       58.9

2     18.9       78.6

3     27.8       80.3

4     33.6       128.8

Although the companies have different levels of sales and assets, they are all experiencing sales growth at about the same rate and use the same type of equipment in the manufacturing process. All four companies also use the same depreciation method. Based only on the information above, which company is least likely to require major capital expenditures in the near future?

A. Company 1.

B. Company 2.

C. Company 3.

D. Company 4.

 

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答案和详解如下：

41、Correct answer is C

"Analysis of Long-Lived Assets: Part II - Analysis of Depreciation and Impairment," Gerald I. White, Ashwinpaul C. Sondhi, and Dov Fried

2008 Modular Level I, Vol. 3, pp. 400-401

Study Session 9-37-c

determine the average age and average depreciable life of a company's assets using the company's fixed asset disclosures

Average age of assets:

Company 1, 5.5 years; Company 2, 4.2 years; Company 3, 2.9 years; Company 4, 3.8 years.

Because Company 3 has the lowest average age of assets, it is least likely to need major capital expenditures.

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