[CFA level 1模拟真题]Version 3 Questions－Q29 level

cfaedu

Q29. Assume U.S.GAAP (generally accepted accounting principles) applies unless otherwise noted. An analyst has calculated the following ratios from a company's financial statements:

Year ended 31 December	2003	2004
Return on Equity	16.8%	18.0%
Return on Total Assets	10.5%	10.0%
Net Profit Margin	4.2%	4.0%

Based on the information above, during 2004, did the company experience an increase in the:

	Financial leverage ratio?	Asset turnover ratio?
A.	No	No
B.	No	Yes
C.	Yes	No
D.	Yes	Yes

yangyangda

a

cfaedu

答案和详解如下：

Q29.  C.    Study Session 8.38.d

In 2003, financial leverage ratio is 0.168/0.105=1.6 and is 2004, financial ratio is 0.18 /0.10=1 .8, an increase of 0.2%. In 2003, asset turnover ratio=0.105/ 0.042=2.5 and in 2004, asset turnover ratio=0.10/0.04=2.5, which is unchanged.

vivian1022

c

LEEFEI571

B

水模样

c

47dx

c

ondesert

c

technet

c

slava_xu

3