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提问人:网友cl18507496603 发布时间:2022-01-07
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An equity analyst is forecasting the next year’s net profit margin of a heavy equipme

nt manufacturing firm, by using the average net profit margin over the past three years. In making his profit projection, he is concerned about the following three items:

·The company suffered losses from discontinued operations in each of the past three years.

·The most recent year’s tax rate was only one half the prior two years’ rate as a result of a fiscal stimulus.

·The company experienced gains on the sale of investments in each of the past three years.

Which of the following statements about the preparation of the forecast is most accurate? The analyst would:

A. use the most recent tax rate because that is the best predictor of future tax rates.

B. exclude the gains on the sale from investments because the company is a manufacturing firm.

C. include the discontinued operations because they appear to be an on-going feature for this company.

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更多“An equity analyst is forecasting the next year’s net profit margin of a heavy equipme”相关的问题
第1题
Under U.S.GAAP, which of the following factors is an analyst least likely to conside
r when determining if a company’s deferred tax liabilities should be treated as a liabilities or equity?

A.The growth rate of the firm.

B.The average discount rate of liabilities.

C.the expectation that temporary difference will reverse.

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第2题
An analyst uses a stock screener and selects the following metrics: a global equity i
ndex, P/E ratio lower than the median P/E ratio, and a price-book value ratio lower than the median price-book value ratio. The stocks so selected would be mostappropriate for portfolios of which type of investors?

A. Value investors.

B. Growth investors.

C. Market-oriented investors.

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第3题
A company incurred and capitalized €2 million of development costs during the year.Th
ese costs were fully deductible immediately for tax purposes, but the company is depreciating them over two years for financial reporting purposes.The company has a long history of profitability.When calculating the company’s debt-to-equity ratio, the most appropriate way for an analyst to incorporate the differential tax treatment is to:

A.include it in equity.

B.include it in liabilities.

C.not include it in either equity or liabilities.

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第4题
FACE-OFFKEEP IT IN THE BANKTreasury officials want to increase the amount of capital that

FACE-OFF

KEEP IT IN THE BANK

Treasury officials want to increase the amount of capital that banks are required to hold in reserve. Sounds like a good idea, but will it squeeze lending and actually slow the economic recovery? Here follow the perspectives of two experts:

RICHARD BOVE, (a famous bank analyst at Rochdale Securities): Yes. Capital reserves are higher than they've been since 1936. That wasn't the problem last year; it was that banks had to write down assets at distressed prices. The government is sending contradictory signals here, telling banks to increase lending and increase capital at the same time. You can't do both, so of course lending is going to tighten if you mandate higher capital reserves.

DOUG ELLIOTT, (a fellow at the Brooklings Institution): No. My research shows that if the minimum equity capital requirements were raised by 4 percent, the prices of a loan might go up only 0. 2 percent. That's negligible compared with the stability benefits of better-capitalized banks. The cost of capital is usually only a fifth of the total cost of a loan, and banks have several levers to pull besides loan price to deal with the need for more capital.

OUR VERDICT: The smart way to do this is to link the amount of capital banks have to hold in reserve to the amount of risk they take. The riskier they are, the more capital they need. Changes likely won't take place until 2011, so banks will have plenty time to prepare.

What is the main problem raised by the host in the commentary?

A.Whether Mr. Bove and Mr. Elliott's views are correct

B.Whether it is good to lift up the amount of capital reserves

C.The deep reason for Mr. Bove and Mr. Eliott to hold different opinions

D.How to accelerate the economic recovery

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第5题
Search engine Google was aiming to float on Wall Street this week, valued at up to $36 bil
lion. But the Internet company's advisers are meeting this weekend to discuss possibly delaying the public listing after a sharp fall in share prices in New York on Friday. An insider said last night: "The float is teetering on the brink—it really is 50/50 at this stage, although many of us are optimistic." The initial public offering(IPO) of shares in Google, which could raise nearly $4bn, will amount to one of the biggest IPOs for years. But many US firms have shelved their IPOs amid volatile market conditions and investors appear unwilling to subscribe to new equity. A Wall Street analyst said that the Google IPO "would be a seminal event for the American stock market" as its real significance was that it would test whether or not the recovery in equity prices since the end of the Iraq war had taken hold. "If this float works, a lot of other companies will be encouraged and come to the market later in the year," the insider added. "But it will be bad news if the IPO is pulled or the shares fall sharply after the company is listed. If that happens, it could kill off the IPO market in America and elsewhere for at least 12 months."

Several fund managers have already expressed reservations about Coogle, in particular its high valuation and the complex way the shares are being sold. Moreover the Google flotation is taking place at a time when technology companies in the US have been shunned. On Thursday, the IPO hit a technical hitch over the failure of the company to meet its legal obligations concerning its employees' stock option plans. But the company did not think that the disclosure would mean a delay to the IPO, which is due on Tuesday, At the top of the suggested price range, Google would be valued not far short of its rival Internet firm Yahoo!—and this has raised eyebrows within the industry. The auction is being conducted over the Internet, and potential buyers will have to register by signing on to a Google website. But only investors who have brokerage accounts with one of the 28 US banks and brokers underwriting the stock sale, will be able to apply. Google suffered a setback last month after it re ported an unexpected, slowdown in its huge growth rate. But sources close to Google's founders, Larry Page and Sergey Brin, said that the tailing-off of growth was due to seasonal factors and would not affect the IPO.

According to paragraph 1, the insider's attitude towards Google IPO can be said to be

A.doubtful.

B.confused.

C.pessimistic.

D.confident.

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第6题
Process Analyst的基本功能是什么?
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第7题
What is the difference between a fundamental analyst and a technical analyst?

A、Only a fundamental analyst believes markets are inefficient.

B、Only a technical analyst helps keep the market efficient.

C、A fundamental analyst analyzes information such as earnings and asset values.

D、A technical analyst focuses on financial statement analysis.

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第8题
If an analyst is preparing common-size financial statements the most appropriate wayo

If an analyst is preparing common-size financial statements the most appropriate way

of expressing the interest expense is as a percentage of:

A.sales.

B.total liabilities.

C.total interest-bearing debt.

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第9题
The analyst's commentary in the progress report was sharply______of the leadership team.A.

The analyst's commentary in the progress report was sharply______of the leadership team.

A.critical

B.critic

C.critically

D.criticism

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第10题
The most successful quantitative analysis will separate the analyst from the managerial team until after the problem is fully structured.()
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