大学MOOC ACCA财务管理F9(华东交通大学)1450311277 最新慕课完整章节测试答案

QuickQuiz12

1、单选题：
‏A company's shares have a nominal value of $1 and a market value of $3. In a rights issue, one new share would be issued for every three shares at a price of $2.60. What is the theoretical ex-rights price?‎‏‎
选项：
A: $3
B: $5.60
C: $2.90
D: $0.65
答案: 【 $2.90】

2、单选题：
‎Which of the following is least likely to be a reason for seeking a stock market flotation?​
选项：
A: Improving the existing owners' control over the business
B: Access to a wider pool of finance
C: Enhancement of the company's image
D: Transfer of capital to other uses
答案: 【 Improving the existing owners' control over the business】

3、单选题：
‍Which of the following is not true of a rights issue by a listed company?‍
选项：
A: Rights issues do not require a prospectus.
B: The rights issues price can be at a discount to market price.
C: If shareholders do not take up the rights, the rights lapse.
D: Relative voting rights are unaffected if shareholders exercise their rights.
答案: 【 If shareholders do not take up the rights, the rights lapse.】

4、多选题：
‌Why a company may seek a stock market listing?‎
选项：
A:  access to a wider pool of finance
B:  improved marketability of shares; transfer of capital to other uses
C: enhancement of company image
D: making growth by acquisition possible
答案: 【  access to a wider pool of finance;
 improved marketability of shares; transfer of capital to other uses;
enhancement of company image;
making growth by acquisition possible】

5、填空题：
‏A company has 12% loan notes in issue, which have a market value of $135 per $100 nominal value. What is he coupon rate?​‏​
答案: 【 12%】

6、填空题：
‍A company has 12% loan notes in issue, which have a market value of $135 per $100 nominal value. What is the amount of interest payable per annum per $100 (nominal) of loan note?‎‍‎
答案: 【 $12】

QuickQuiz13

1、单选题：
Which of the following sources of finance to companies is the most widely used in practice?                 ‍
选项：
A: Bank borrowings  
B: Rights issues    
C: New share issues
D: Retained earnings     
答案: 【 Retained earnings     】

2、单选题：
A scrip dividend is:‍
选项：
A: A dividend paid at a fixed percentage rate on the nominal value of the shares
B: A dividend paid at a fixed percentage rate on the market value of the shares on the date that the dividend is declared
C: A dividend payment that takes the form of new shares instead of cash
D: A cash dividend that is not fixed but is decided on by the directors and approved by theshareholders
答案: 【 A dividend payment that takes the form of new shares instead of cash】

3、判断题：
‏A company offers to pay a dividend in the form of new shares which are worth more than the cash alternative which is also offered. This dividend in the form of shares is called an enhanced scrip dividend.‎
选项：
A: 正确
B: 错误
答案: 【 正确】

4、判断题：
​ 'Signalling' in the context of dividends policy is the use of dividend policy to indicate the future prospects of an enterprise.‏
选项：
A: 正确
B: 错误
答案: 【 正确】

QuickQuiz14

1、多选题：
‌What are the main characteristics of small and medium-sized enterprises?‏
选项：
A: Firms are likely to be unquoted.
B: Ownership of the business is restricted to a few individuals, typically a family group.
C: Ownership of the business is restricted to one individual.
D: They are not micro businesses that offer a medium for self-employment of their owners.
答案: 【 Firms are likely to be unquoted.;
Ownership of the business is restricted to a few individuals, typically a family group.;
They are not micro businesses that offer a medium for self-employment of their owners.】

2、判断题：
‌The returns on capital investment must exceed the interest payable on the extra debt used to finance the investment.This condition has to be fulfilled for increased financial gearing to result in increased earnings per share.‏
选项：
A: 正确
B: 错误
答案: 【 正确】

3、判断题：
‌ Business angel financing is direct investment in SMEs by individuals or small groups of investors.‍
选项：
A: 正确
B: 错误
答案: 【 正确】

4、填空题：
‌(      ) gearing=Total capital employed/Prior charge capital‎
答案: 【 Financial】

5、填空题：
‎(      ) gearing=Contribution/Profit before interest and tax‍
答案: 【 Operational】

6、填空题：
‌（    ）=Profit before interest and tax/Interest‍
答案: 【 Interest coverage ratio】

7、填空题：
Debt ratio=‌​‌
答案: 【 Total debt: Total assets##%_YZPRLFH_%##Total debt/Total assets】

QuickQuiz15

1、单选题：
Which of the following risks can be eliminated by diversification?‍
选项：
A: Inherent risk
B: Systematic risk
C: Market risk
D: Unsystematic risk
答案: 【 Unsystematic risk】

2、单选题：
‍A portfolio consisting entirely of risk-free securities will have a beta factor of ‏
选项：
A: -1
B: 0
C: 1
D: 2
答案: 【 0】

3、单选题：
When calculating the weighted average cost of capital, which of the following is the preferred method of‏weighting?‏‌‏
选项：
A: Book values of debt and equity
B: Average levels of the market values of debt and equity (ignoring reserves) over five years
C: Current market values of debt and equity (ignoring reserves)
D: Current market values of debt and equity (plus reserves)
答案: 【 Current market values of debt and equity (ignoring reserves)】

4、判断题：
​Unsystematic risk is measured by beta factors.​
选项：
A: 正确
B: 错误
答案: 【 错误】

QuickQuiz16

1、多选题：
What are the main problems in using geared and ungeared betas to calculate a firm's equity beta?‏
选项：
A:  (a) It is difficult to identify other firms with identical operating characteristics.
B: (b) Estimates of beta values from share price information are not wholly accurate.
C: (c) There may be firm-specific causes of differences in beta values.
D: (d) The market may recognise opportunities for future growth for some firms but not others.
答案: 【  (a) It is difficult to identify other firms with identical operating characteristics.;
(b) Estimates of beta values from share price information are not wholly accurate.;
(c) There may be firm-specific causes of differences in beta values.;
(d) The market may recognise opportunities for future growth for some firms but not others.】

2、多选题：

‏

‏选项：
A: Line 1 is the cost of equity in the geared company.
B: Line 2 is the weighted average cost of capital.
C: Line 3 is the cost of debt..
D: Point 4 is the optimal level of gearing.
答案: 【 Line 1 is the cost of equity in the geared company.;
Line 2 is the weighted average cost of capital.;
Line 3 is the cost of debt..;
Point 4 is the optimal level of gearing.】

3、判断题：
‌ The Modigliani and Miller theory is based on perfect capital markets which do not exist in the real world.‎
选项：
A: 正确
B: 错误
答案: 【 正确】

4、填空题：
‎Assuming debt is risk free ba = ‌
答案: 【 (Ve )/(Ve+Vd (1-T))】