首页 > >内容

CFA一级模考题(5)

2019-9-4     来源:

参加CFA考试的同学们,乐考网为你整理“CFA一级模考题”,CFA考试题库,供大家参考学习,希望广大放松心态,从容应对,正常发挥。更多资讯请关注我们网站的更新哦!

CFA一级模考题(5)

cfa一级视频Question

Q1:Earlier this year, Barracuda Company issued 5,000 employee stock options. Recently, 2,000 options were exercised at a price of $10 per share. To avoid dilution, Barracuda purchased 2,000 shares at an average price of $12 per share. Barracuda reported both transactions as financing activities in its cash flow statement. For analytical purposes, what adjustment is necessary to better reflect the substance of the stock repurchase?Operating cash flow;Financing cash flowA. Decrease $4,00;No adjustmentB. No adjustment;Increase $4,000C. Decrease $4,000;Increase $4,000

Q2:If a lessee enters into a finance lease rather than an operating lease, it can expect to have a:A. higher return on assets.B. higher debt-to-equity ratio.C. lower debt-to-equity ratio.

Q3:Which of the following statements regarding a direct financing lease is least accurate?A. The principal portion of the lease payment is a cash inflow from investing on the lessor';s cash flow statement.B. Interest revenue on the lessor's income statement equals the implicit interest rate times the lease payment.C. The lessor recognizes no gross profit at the inception of the lease.

cfa讲师Q4:Which of the following statements about the impact of leases on the financial statements of the lessee is least accurate?A. Net income is lower in the early years of a finance lease than an operating lease.B. A finance lease results in higher liabilities compared to an operating lease.C. Cash flow from investing is higher for a finance lease than an operating lease.

Answer

第一题:C

answer:Barracuda reported a $4,000 net outflow from financing activities [2,000 options* ($12 average market price-$10 exercise price)]. However, since the options are a form of compensation, the $4,000 outflow should be reclassified as an operating activity for analytical purposes. This is accomplished by increasing financing cash flow $4,000 and decreasing operating cash flow $4,000.

第二题:B

answer:Leasing the asset with an operating lease avoids recognition of the debt on the lessee’s balance sheet. Having fewer assets and liabilities on the balance sheet than would exist if the assets were purchased increases profitability ratios (e.g., return on assets) and decreases leverage ratios (e.g., debt-to-equity ratio). In the case of a finance lease, the assets are reported on the balance sheet and are depreciated.

第三题:B

answer:Interest revenues are calculated by multiplying the implicit interest rate by net receivables at the beginning of the period.

第四题:C

answer:Cash flow from investing is not affected by a lease being either a finance or an operating lease. Finance leases reduce cash flow from operations by only the portion of the lease payment attributed to interest expense. Cash flow from financing is reduced by the rest of the finance lease payment which is the principal part of the payment.

温馨提示:因考试政策、内容不断变化与调整,以上信息仅供参考,如有异议,请考生以权威部门公布的内容为准!

本站均为转载稿,本站转载出于非商业性的教育和科研之目的,并不意味着赞同其观点或证实其内容的真实性。如涉及版权等问题,请在两周内来函联系。