2008 CFA Level 1 － Sample 样题(1)－Q29 style, black, class

8586

29、Assume U.S. GAAP (generally accepted accounting principles) applies unless otherwise noted.
An analyst has calculated the following ratios for a firm:

Sales/Total Assets	Net Profit Margin (%)	Return on Total Assets (%)	Total Assets/Equity
2.8	4	11.2	1.6

The return on equity for this firm would be closest to:

A. 4.48%.

B. 6.40%.

C. 15.20%.

D. 17.92%.

 

[此贴子已经被作者于2008-11-7 16:11:08编辑过]

8586

Correct answer = D

"Financial Analysis Techniques," Thomas R. Robinson, Hennie van Greuning, Elaine Henry, and Michael A. Broihahn
2008 Modular Level I, Vol. 3, pp. 604-609
2008 Modular Level I, Vol. 4, pp. 136-143
Study Sessions 10-41-f, 11-47-a
demonstrate the application of Du Pont analysis (the decomposition of return on equity);
calculate, interpret, and discuss the Du Pont expression and extended Du Pont expression for a company's return on equity, and demonstrate its use in corporate analysis
ROE = Net Profit Margin x Sales/Total Assets x Total Assets / Equity = 4.00 x 2.80 x 1.60 = 17.92%
Alternatively, ROE = Return on Total Assets x Total Assets / Equity = 11.20 x 1.60 = 17.92% 

 

cxz0858

H

Riverview

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刀剑如梦

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zhangxie83

d

oleander

d

gening

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盛夏的果实

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isaisaisa

d