答案和详解如下： Answer 56 The correct answer was A) $20,000 Liability $4,000 Asset A deferred tax liability and asset is created when an income or expense item is treated differently on financial statements than it is on the company’s tax returns. A deferred tax liability is when that difference results in greater tax expense on the financial statements than taxes payable on the tax return. The deferred tax liability for firm 1 = $180,000 tax expense - $160,000 taxes payable = $20,000 A deferred tax asset is when that difference results in lower taxes payable on the financial statements than on the tax return. The deferred tax asset for firm 2 = $200,000 taxes payable - $196,000 tax expense = $4,000 This question tested from Session 9, Reading 38, LOS f
Answer 57 The correct answer was B) Under the average cost method, goods available for sale (inventory plus purchases) are valued at their weighted average cost per unit. Camden’s goods available for sale cost an average of [(40 × $600) + (80 × $625) + (100 × $650) + (120 × $675)] / 340 = $647.06 each. Cost of goods sold for 2001 was 160 × $647.06 = $103,530. This question tested from Session 8, Reading 32, LOS e, (Part 1)
Answer 58 The correct answer was D) 16 years. Average age of fixed assets = accumulated depreciation / annual depreciation = 48 / 3 = 16 years. This question tested from Session 9, Reading 37, LOS c
Answer 59 The correct answer was A) Debt denominated in a foreign currency. Debt denominated in a foreign currency may be optimal for the firm if it has future cash flows in that currency. By matching the currency of this cash flow to future liabilities, the firm may hedge some currency risk that they would otherwise have. There is no information provided to suggest that this debt instrument would also lower Hanna’s interest expense. Adding a conversion option, an exchange option, or attaching warrants will all decrease the interest rate bondholders will require on the debt issue. This question tested from Session 9, Reading 39, LOS e, (Part 2)
Answer 60 The correct answer was B) Reinvestment ratio Cash-to-income ratio The reinvestment ratio measures a firm’s ability to acquire long-term assets with cash flows from operations. In contrast, the investing and financing ratio, which is more comprehensive, measures the firm’s ability to purchase assets, satisfy debts, and pay dividends. The cash-to-income ratio measures the ability to generate cash from a firm’s operations and is a performance ratio for cash flow analysis purposes. The debt payment ratio measures the firm’s ability to satisfy long-term debt with cash flow from operations but it is more of a coverage ratio than a performance ratio. This question tested from Session 8, Reading 34, LOS i, (Part 2)
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发表于 2008-11-12 21:30
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