CFA Level 1 －模考试题(2)(PM) Q51-55

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Question 51

Rushford Corp.’s net income is $16,500,000 with 300,000 shares outstanding. The tax rate is 40%. The average share price for the year was $372. Rushford has 50,000, 9%, $1,000 par value convertible bonds outstanding. Each bond is convertible into two shares of common stock.

Rushford Corp.’s basic and diluted earnings per share (EPS) are closest to:

Basic EPS Diluted EPS

A)    $55.00        $48.00
B)   $55.00        $51.56
C)   $65.63        $51.56
D)   $65.63        $48.00

Question 52

Graham Inc. has outstanding convertible bonds with a conversion price of $85 per share. The current price per share is $90. Based on this information and U.S. GAAP, which of the following balance sheet treatments of convertible bonds is most appropriate?

U.S. GAAP Analytical perspective

A)    Treat as debt      Treat as debt
B)   Treat as equity Treat as equity
C)   Treat as debt      Treat as equity
D)   Treat as equity Treat as debt

Question 53

Which of the following financial statement disclosures is least likely to be reflected in a deferred income tax item on the balance sheet?

A) Post-employment benefits.

B) Proceeds from life insurance on key employees.

C) Restructuring costs.

D) Impairment of fixed assets.

Question 54

Simon Inc. is a publicly traded manufacturing company. Recently, it repurchased some of its own stock and purchased additional machinery for use in the business. Which of the following classifications of these two business transactions is most appropriate for financial reporting purposes?

Repurchased stock
Purchased machinery

A) financing activity operating activity

B) investing activity operating activity

C) financing activity investing activity

D) investing activity investing activity

Question 55

Which of the following statements about depreciation is least accurate?

A) Return on assets is initially higher using straight-line depreciation than it is using accelerated depreciation.

B) For a firm that purchases only a single depreciable asset, net income is higher in the later years of the asset’s life using accelerated depreciation than it would be using straight-line depreciation.

C) For a firm with increasing capital expenditures, accelerated depreciation methods tend to increase both net income and stockholders' equity when compared to straight-line depreciation.

D) If an asset produces a constant stream of net income over its useful life and is depreciated using the straight-line method, the rate of return on the asset increases over its life.

[此贴子已经被作者于2008-11-8 18:00:40编辑过]