全国2008年10月高等教育自学考试财务管理学试题答案

更新时间：2024-06-19 15:58:01 阅读量：综合文库文档下载

说明：文章内容仅供预览，部分内容可能不全。下载后的文档，内容与下面显示的完全一致。下载之前请确认下面内容是否您想要的，是否完整无缺。

全国2008年10月高等教育自学考试基础英语试题2推荐度：
相关推荐

letters and calls, and do practical things for the masses combine good, effective through reaching people at the service of the \hird, foster the development of new energy, new General Secretary XI Jinping stressed development of innovation forest restructuring, revitalization of the old industrial bases in Northeast China is the State's major strategy, Central has issued comprehensive opinions of revitalizing Northeast China and other old industrial bases, the CPC Central Committee on revitalization in Northeast China were ... Vigorous determination does not waver, the work does not slacken off. Be firm with in the development has more to do with hard, and not muddle along, passive inaction. To rely on their own efforts, can't wait, can't wait, stand still. This not only provides new opportunities for development in our region, and gave us new requirements. We must seize the opportunity, full use of national policy, has to be more complicated, to start and target, give full play to theinitiative of leading cadres at all levels, active, active, focusing on building new momentum for development, accelerating transformation of forest development. To implement the new development philosophy. Philosophy is the action guide, new ideas and new developments. Carrying out innovation, coordination and development of green, open, shared ideas, must be measurable, direct action with new development concepts, training cadres. In a new development concept as a yardstick. Established in line with the new concept of evaluation system and evaluation criterion, embodies the new development policy, organization, mandate implementation, always measured by the new development philosophy, continuous correction of forest transition course. In a new development concept for the path command. As part of the implementation of the new development philosophy followed and action guidelines, firmly adjusted, corrected and reject unsuitable, inappropriate and even againstthe new development ideas, behaviors and practices, more pragmatic approach based on a broad vision, and creatively carry out ecological construction, industrial development, improving people's livelihood, such as the work to ensure that new development ideas take root in forest areas. In a new development concept for weapon training cadre. Education leaders \he new, nothing\es, enhancing vitality and power. Combined development \nd implementation \engineering\nd create \nvironment\hening on new development, and new economy concept of learning, and grasp and using, real put thought and action unified to new development concept up, at with new development concept armed himself, and guide practice, effective do advocate innovation, and focused on coordination, and advocate green, and thick plant open, and advance shared. Second, we must rely on Science and technology affects. Tchnical innovation is the promotion of economic transformation and upgrading, quality and efficiency \er\ 全国2008年10月高等教育自学考试财务管理学试题课程代码：00067 一、单项选择题(本大题共20小题，每小题1分，共20分)

在每小题列出的四个备选项中只有一个是符合题目要求的，请将其代码填写在题后的括号内。错选、多选或未选均无分。

1.企业资金运动的中心环节是（） A.资金筹集 B.资金投放 C.资金耗费 D.资金分配解析：资金运动的经济内容：

①资金筹集。筹集资金是资金运动的起点，是投资的必要前提。

②资金投放。投资是资金运动的中心环节,它不仅对资金筹集提出要求，而且是决定未来经济效益的先天性条件。

③资金耗费。资金的耗费过程又是资金的积累过程。耗费是资金运动的基础环节，资金耗费水平是影响企业利润水平高低的决定性因素。

④资金收入。资金收入是资金运动的关键环节。

⑤资金分配。资金分配是一次资金运动过程的终点，又是下一次资金运动过程开始的前奏。答案：B 教材：3页

2.以股东财富最大化作为公司财务管理目标时，主要的评价指标是（） A.每股市价 B.每股利润 C.每股股利 D.每股净资产答案：A

解析：评价指标主要是股票市价或每股市价。股票市价的高低体现着投资大众对公司价值所作的客观评价。

ivelihood, is related to people's well-being and social harmony and stability. We need to protect and improve the livelihood of the people as the starting point and ending point of transition and improve forest people's feeling and happiness. To promote poverty relief and development work. Implementing poverty alleviation crucial project is a major strategic decision made by the CPC Central Committee, is also determined by the provincial \nking and action to the requirements of the Central, provincial, resolutely win the poverty battle. The previous phase I to 18 stations, Tahe, Pine Ridge research, visited many of the poor, go, the heavier, more pressure. For poverty relief and development work, we must pay attention to it, always in mind, grasping hands, should not be blindly optimistic, there can be no slack. Poverty alleviation and development lies in precise, accurate. Present, in order to find out the real base of poor people as soon as possible, come up with feasible poverty standards, state card, built on the basis of document management. To firmly establish the \poverty reduction\he intensity of resource integration, and related funding, with limited funds wisely. By using a combination of employment, entrepreneurship for poverty eradication poverty eradication, education, poverty alleviation, medical aid of poverty means, due to effects of policies, those policies, ensure the completion of mission objectives for poverty eradication for the year. To actively promote the construction of new towns. In February this year, promulgated by the State Council on further promoting urbanization construction of new opinions, proposed to adhere to the people-centered, four modernizations synchronization, optimization, ecology civilization and cultural heritage of new urbanization path with Chinese characteristics. According to district-wide construction of civilized city and the beautiful countryside, further strengthening of urban transport, water supply and drainage and sewage, waste disposal ground, underground, such as infrastructure construction, strive to create a safer and more livable environment. To actively seize the full stop and opportunities for poverty alleviation and development, further efforts to increase forest villages merge, population to the County (district) Council sites and centres concentrated in villages and towns. Combined development of urban construction and tourism industries, careful planning and construction of a number of suitable for residential and farm tour towns and villages, forming one village one product, a feature pattern. Closer to the masses. Since last year, our in-depth implementation of the leading cadres of grassroots masses at work, solve the problems of a large number of people, get the masses give wholehearted support to and praise, this work will carry on, absolutely cannot or movement. Grassroots masses and cadres in combination with poverty reduction, combined with the steady work ofletters and calls, and do practical things for the masses combine good, effective through reaching people at the service of the \hird, foster the development of new energy, new General Secretary XI Jinping stressed development of innovation forest restructuring, revitalization of the old industrial bases in Northeast China is the State's major strategy, Central has issued comprehensive opinions of revitalizing Northeast China and other old industrial bases, the CPC Central Committee on revitalization in Northeast China were ... Vigorous determination does not waver, the work does not slacken off. Be firm with in the development has more to do with hard, and not muddle along, passive inaction. To rely on their own efforts, can't wait, can't wait, stand still. This not only provides new opportunities for development in our region, and gave us new requirements. We must seize the opportunity, full use of national policy, has to be more complicated, to start and target, give full play to theinitiative of leading cadres at all levels, active, active, focusing on building new momentum for development, accelerating transformation of forest development. To implement the new development philosophy. Philosophy is the action guide, new ideas and new developments. Carrying out innovation, coordination and development of green, open, shared ideas, must be measurable, direct action with new development concepts, training cadres. In a new development concept as a yardstick. Established in line with the new concept of evaluation system and evaluation criterion, embodies the new development policy, organization, mandate implementation, always measured by the new development philosophy, continuous correction of forest transition course. In a new development concept for the path command. As part of the implementation of the new development philosophy followed and action guidelines, firmly adjusted, corrected and reject unsuitable, inappropriate and even againstthe new development ideas, behaviors and practices, more pragmatic approach based on a broad vision, and creatively carry out ecological construction, industrial development, improving people's livelihood, such as the work to ensure that new development ideas take root in forest areas. In a new development concept for weapon training cadre. Education leaders \he new, nothing\es, enhancing vitality and power. Combined development \nd implementation \three big engineering\nd create \nvironment\hening on new development, and new economy concept of learning, and grasp and using, real put thought and action unified to new development concept up, at with new development concept armed himself, and guide practice, effective do advocate innovation, and focused on coordination, and advocate green, and thick plant open, and advance shared. Second, we must rely on Science and technology affects. Tchnical innovation is the promotion of economic transformation and upgrading, quality and efficiency \er\教材：15页

3.后付年金终值系数的倒数是（） A.资本回收系数 B.偿债基金系数 C.先付年金终值系数 D.后付年金现值系数答案：B

解析：年金终值=年金 * 年金终值系数，即已知年金、利率、期数，求年金终值。

年金=年金终值 * 年金终值系数的倒数，即已知年金终值、年金终值系数，求年金。（逆运算）年金终值系数的倒数=偿债基金系数

资本现回收（资本回收系数是年金现值系数的倒数），基金终偿债。教材：51页

4.下列可用于衡量投资风险程度的指标是（） A.概率 B.预期收益

C.标准离差率 D.风险价值系数答案：C 解析：

概率：事件某种后果可能发生的机会。

预期收益：某一投资方案未来收益的各种可能结果，用概率为权数计算出来的加权平均数，是加权平均的中心值。

标准离差：是各种可能值与期望值之间的差额所决定的，差距越大，说明随机变量的可变性越大，意味各种可能情况与期望值的差别越大。

标准离差率：为了比较预期收益不同的投资项目的风险程度，还必须求得标准离差与预期收益的比值。风险价值系数：风险收益率=风险价值系数 * 标准离差率教材：76页

ivelihood, is related to people's well-being and social harmony and stability. We need to protect and improve the livelihood of the people as the starting point and ending point of transition and improve forest people's feeling and happiness. To promote poverty relief and development work. Implementing poverty alleviation crucial project is a major strategic decision made by the CPC Central Committee, is also determined by the provincial \nking and action to the requirements of the Central, provincial, resolutely win the poverty battle. The previous phase I to 18 stations, Tahe, Pine Ridge research, visited many of the poor, go, the heavier, more pressure. For poverty relief and development work, we must pay attention to it, always in mind, grasping hands, should not be blindly optimistic, there can be no slack. Poverty alleviation and development lies in precise, accurate. Present, in order to find out the real base of poor people as soon as possible, come up with feasible poverty standards, state card, built on the basis of document management. To firmly establish the \poverty reduction\he intensity of resource integration, and related funding, with limited funds wisely. By using a combination of employment, entrepreneurship for poverty eradication poverty eradication, education, poverty alleviation, medical aid of poverty means, due to effects of policies, those policies, ensure the completion of mission objectives for poverty eradication for the year. To actively promote the construction of new towns. In February this year, promulgated by the State Council on further promoting urbanization construction of new opinions, proposed to adhere to the people-centered, four modernizations synchronization, optimization, ecology civilization and cultural heritage of new urbanization path with Chinese characteristics. According to district-wide construction of civilized city and the beautiful countryside, further strengthening of urban transport, water supply and drainage and sewage, waste disposal ground, underground, such as infrastructure construction, strive to create a safer and more livable environment. To actively seize the full stop and opportunities for poverty alleviation and development, further efforts to increase forest villages merge, population to the County (district) Council sites and centres concentrated in villages and towns. Combined development of urban construction and tourism industries, careful planning and construction of a number of suitable for residential and farm tour towns and villages, forming one village one producta feature pattern. Closer to the masses. Since last year, our in-depth implementation of the leading cadres of grassroots masses at work, solve the problems of a large number of people, get the masses give wholehearted support to and praise, this work will carry on, absolutely cannot or movement. Grassroots masses and cadres in combination with poverty reduction, combined with the steady work ofletters and calls, and do practical things for the masses combine good, effective through reaching people at the service of the \hird, foster the development of new energy, new General Secretary XI Jinping stressed development of innovation forest restructuring, revitalization of the old industrial bases in Northeast China is the State's major strategy, Central has issued comprehensive opinions of revitalizing Northeast China and other old industrial bases, the CPC Central Committee on revitalization in Northeast China were ... Vigorous determination does not waver, the work does not slacken off. Be firm with in the development has more to do with hard, and not muddle along, passive inaction. To rely on their own efforts, can't wait, can't wait, stand still. This not only provides new opportunities for development in our region, and gave us new requirements. We must seize the opportunity, full use of national policy, has to be more complicated, to start and target, give full play to theinitiative of leading cadres at all levels, active, active, focusing on building new momentum for development, accelerating transformation of forest development. To implement the new development philosophy. Philosophy is the action guide, new ideas and new developments. Carrying out innovation, coordination and development of green, open, shared ideas, must be measurable, direct action with new development concepts, training cadres. In a new development concept as a yardstick. Established in line with the new concept of evaluation system and evaluation criterion, embodies the new development policy, organization, mandate implementation, always measured by the new development philosophy, continuous correction of forest transition course. In a new development concept for the path command. As part of the implementation of the new development philosophy followed and action guidelines, firmly adjusted, corrected and reject unsuitable, inappropriate and even againstthe new development ideas, behaviors and practices, more pragmatic approach based on a broad vision, and creatively carry out ecological construction, industrial development, improving people's livelihood, such as the work to ensure that new development ideas take root in forest areas. In a new development concept for weapon training cadre. Education leaders \he new, nothing\es, enhancing vitality and power. Combined development \nd implementation \engineering\nd create \nvironment\hening on new development, and new economy concept of learning, and grasp and using, real put thought and action unified to new development concept up, at with new development concept armed himself, and guide practice, effective do advocate innovation, and focused on coordination, and advocate green, and thick plant open, and advance shared. Second, we must rely on Science and technology affects. Tchnical innovation is the promotion of economic transformation and upgrading, quality and efficiency \er\5.与商业信用筹资方式相配合的筹资渠道是（） A.银行信贷资金 B.政府财政资金

C.其他企业单位资金 D.非银行金融机构资金答案：C

解析：筹资方式7种，筹资渠道7种。一定的筹资方式可能只适用于某一特定的渠道，也往往可能适用于不同的筹资渠道。特定的（商业信用—从其它企业单位资金、企业内部积累—企业自留资金，融资租赁—非银行金融机构资金）教材：88页

6.某企业发行债券，面值为1 000元，票面利率为10％，每年年末付息一次，五年到期还本。若目前市场利率为8％，则该债券是（） A.平价发行 B.溢价发行 C.折价发行 D.贴现发行答案：B

解析：债券的发行价格取决于票面利率与市场利率。当票面利率高于市场利率时，就溢价发行。教材：140页

7.企业为满足支付动机所持有的现金余额主要取决的因素是（） A.企业临时举债能力 B.现金收支的可靠程度 C.企业的销售水平 D.企业可承担风险的程度答案：C 解析：

支付动机：指持有现金以便满足日常支付的需要，如购买原材料。一般说来，企业为满足支付动机所持有的现金余额主要取决于企业的销售水平，同企业的销售量呈正比例。

预防动机：在正常现金需要量的基础上，增加一定数量的现金余额以应付未来现金流量的波动。三因素：现金收支预测的可靠度，企业临时举债能力，企业愿意承担风险程度。

8.利用存货模型计算最佳现金持有量时，需要考虑的成本是（） A.持有成本与转换成本 B.短缺成本与持有成本 C.取得成本与短缺成本 D.短缺成本与转换成本答案：A 解析：

持有成本：持有货币资金而损失的利息收入或因借款而支付的利息。又称为机会成本。与货币资金持有量成正比。

转换成本：用有价证券等资产转换成货币资金而发生的固定成本。与转换的次数成正比。教材：200页

9.固定资产按使用情况所作的分类是（） A.生产用固定资产和非生产用固定资产 B.经营用固定资产和管理用固定资产 C.自有固定资产和融资租入固定资产

D.使用中的固定资产、未使用的固定资产和不需用的固定资产答案：D 教材：258页

10.下列各项中，属于非贴现投资评价指标的是（） A.净现值 B.获利指数 C.净现值率 D.平均报酬率答案：D 解析：

ivelihood, is related to people's well-being and social harmony and stability. We need to protect and improve the livelihood of the people as the starting point and ending point of transition and improve forest people's feeling and happiness. To promote poverty relief and development work. Implementing poverty alleviation crucial project is a major strategic decision made by the CPC Central Committee, is also determined by the provincial \nking and action to the requirements of the Central, provincial, resolutely win the poverty battle. The previous phase I to 18 stations, Tahe, Pine Ridge research, visited many of the poor, go, the heavier, more pressure. For poverty relief and development work, we must pay attention to it, always in mind, grasping hands, should not be blindly optimistic, there can be no slack. Poverty alleviation and development lies in precise, accurate. Present, in order to find out the real base of poor people as soon as possible, come up with feasible poverty standards, state card, built on the basis of document management. To firmly establish the \poverty reduction\he intensity of resource integration, and related funding, with limited funds wisely. By using a combination of employment, entrepreneurship for poverty eradication poverty eradication, education, poverty alleviation, medical aid of poverty means, due to effects of policies, those policies, ensure the completion of mission objectives for poverty eradication for the year. To actively promote the construction of new towns. In February this year, promulgated by the State Council on further promoting urbanization construction of new opinions, proposed to adhere to the people-centered, four modernizations synchronization, optimization, ecology civilization and cultural heritage of new urbanization path with Chinese characteristics. According to district-wide construction of civilized city and the beautiful countryside, further strengthening of urban transport, water supply and drainage and sewage, waste disposal ground, underground, such as infrastructure construction, strive to create a safer and more livable environment. To actively seize the full stop and opportunities for poverty alleviation and development, further efforts to increase forest villages merge, population to the County (district) Council sites and centres concentrated in villages and towns. Combined development of urban construction and tourism industries, careful planning and construction of a number of suitable for residential and farm tour towns and villages, forming one village one producta feature pattern. Closer to the masses. Since last year, our in-depth implementation of the leading cadres of grassroots masses at work, solve the problems of a large number of people, get the masses give wholehearted support to and praise, this work will carry on, absolutely cannot or movement. Grassroots masses and cadres in combination with poverty reduction, combined with the steady work ofletters and calls, and do practical things for the masses combine good, effective through reaching people at the service of the \hird, foster the development of new energy, new General Secretary XI Jinping stressed development of innovation forest restructuring, revitalization of the old industrial bases in Northeast China is the State's major strategy, Central has issued comprehensive opinions of revitalizing Northeast China and other old industrial bases, the CPC Central Committee on revitalization in Northeast China were ... Vigorous determination does not waver, the work does not slacken off. Be firm with in the development has more to do with hard, and not muddle along, passive inaction. To rely on their own efforts, can't wait, can't wait, stand still. This not only provides new opportunities for development in our region, and gave us new requirements. We must seize the opportunity, full use of national policy, has to be more complicated, to start and target, give full play to theinitiative of leading cadres at all levels, active, active, focusing on building new momentum for development, accelerating transformation of forest development. To implement the new development philosophy. Philosophy is the action guide, new ideas and new developments. Carrying out innovation, coordination and development of green, open, shared ideas, must be measurable, direct action with new development concepts, training cadres. In a new development concept as a yardstick. Established in line with the new concept of evaluation system and evaluation criterion, embodies the new development policy, organization, mandate implementation, always measured by the new development philosophy, continuous correction of forest transition course. In a new development concept for the path command. As part of the implementation of the new development philosophy followed and action guidelines, firmly adjusted, corrected and reject unsuitable, inappropriate and even againstthe new development ideas, behaviors and practices, more pragmatic approach based on a broad vision, and creatively carry out ecological construction, industrial development, improving people's livelihood, such as the work to ensure that new development ideas take root in forest areas. In a new development concept for weapon training cadre. Education leaders \he new, nothing\es, enhancing vitality and power. Combined development \nd implementation \engineering\nd create \nvironment\hening on new development, and new economy concept of learning, and grasp and using, real put thought and action unified to new development concept up, at with new development concept armed himself, and guide practice, effective do advocate innovation, and focused on coordination, and advocate green, and thick plant open, and advance shared. Second, we must rely on Science and technology affects. Tchnical innovation is the promotion of economic transformation and upgrading, quality and efficiency \er\平均报酬率(ARR):投资项目寿命周期内平均的年投资报酬率，即：平均现金流量 / 初始投资额投资回收期：初始投资额 / 营业净现金流量教材：294页

11.下列各项中，属于股票投资特点的是（） A.投资风险大 B.投资收益稳定 C.投资具有到期日 D.投资者的权利最小答案：A 解析：

投资收益：不能事先确定，具有滤动性。

投资风险：收益分红不稳定和股票价格波动，风险最大。投资权利：权利最大，有权参与企业的经营管理。教材：327页

12.下列属于按实现方式划分的并购形式是（） A.混合并购 B.横向并购 C.纵向并购 D.股份交易式并购答案：D

解析：并购投资的类型：

按并购的实现方式划分：承担债务式、现金购买式和股份交易式。按并购双方产品与产业的联系划分：横向、纵向、混合并购。教材：344页

13.下列各种关于功能成本比值的表述中，正确的是（） A.它与产品功能成正比，与产品成本也成正比 B.它与产品功能成反比，与产品成本也成反比

letters and calls, and do practical things for the masses combine good, effective through reaching people at the service of the \hird, foster the development of new energy, new General Secretary XI Jinping stressed development of innovation forest restructuring, revitalization of the old industrial bases in Northeast China is the State's major strategy, Central has issued comprehensive opinions of revitalizing Northeast China and other old industrial bases, the CPC Central Committee on revitalization in Northeast China were ... Vigorous determination does not waver, the work does not slacken off. Be firm with in the development has more to do with hard, and not muddle along, passive inaction. To rely on their own efforts, can't wait, can't wait, stand still. This not only provides new opportunities for development in our region, and gave us new requirements. We must seize the opportunity, full use of national policy, has to be more complicated, to start and target, give full play to theinitiative of leading cadres at all levels, active, active, focusing on building new momentum for development, accelerating transformation of forest development. To implement the new development philosophy. Philosophy is the action guide, new ideas and new developments. Carrying out innovation, coordination and development of green, open, shared ideas, must be measurable, direct action with new development concepts, training cadres. In a new development concept as a yardstick. Established in line with the new concept of evaluation system and evaluation criterion, embodies the new development policy, organization, mandate implementation, always measured by the new development philosophy, continuous correction of forest transition course. In a new development concept for the path command. As part of the implementation of the new development philosophy followed and action guidelines, firmly adjusted, corrected and reject unsuitable, inappropriate and even againstthe new development ideas, behaviors and practices, more pragmatic approach based on a broad vision, and creatively carry out ecological construction, industrial development, improving people's livelihood, such as the work to ensure that new development ideas take root in forest areas. In a new development concept for weapon training cadre. Education leaders \he new, nothing\es, enhancing vitality and power. Combined development \nd implementation \three big engineering\nd create \nvironment\hening on new development, and new economy concept of learning, and grasp and using, real put thought and action unified to new development concept up, at with new development concept armed himself, and guide practice, effective do advocate innovation, and focused on coordination, and advocate green, and thick plant open, and advance shared. Second, we must rely on Science and technology affects. Tchnical innovation is the promotion of economic transformation and upgrading, quality and efficiency \er\C.它与产品功能成正比，与产品成本成反比 D.它与产品功能成反比，与产品成本成正比答案：C 解析：

功能成本比值=产品功能 / 产品成本教材：375页

14.以下属于企业成本控制手段的是（） A.消耗定额 B.费用控制 C.计划指标 D.制度控制答案：D 解析：

成本控制的手段：凭证控制、厂币控制、制度控制，还有标准成本法、责任成本法。成本控制的标准：目标成本、计划指标、消耗定额、费用预算。教材：397页

15.以下不应计入管理费用的项目是（） A.咨询费 B.存货盘亏 C.广告费用 D.职工教育经费答案：C 教材：364页

16.已知生产工人劳动生产率提高了15％，平均工资增长了5.8％，企业直接工资费用占成本的比率为15％，由于直接人工费用变动为产品成本带来的降低率是（） A.-1.3％ B.1.2％ C.1.4％ D.1.45％

ivelihood, is related to people's well-being and social harmony and stability. We need to protect and improve the livelihood of the people as the starting point and ending point of transition and improve forest people's feeling and happiness. To promote poverty relief and development work. Implementing poverty alleviation crucial project is a major strategic decision made by the CPC Central Committee, is also determined by the provincial \nking and action to the requirements of the Central, provincial, resolutely win the poverty battle. The previous phase I to 18 stations, Tahe, Pine Ridge research, visited many of the poor, go, the heavier, more pressure. For poverty relief and development work, we must pay attention to it, always in mind, grasping hands, should not be blindly optimistic, there can be no slack. Poverty alleviation and development lies in precise, accurate. Present, in order to find out the real base of poor people as soon as possible, come up with feasible poverty standards, state card, built on the basis of document management. To firmly establish the \poverty reduction\he intensity of resource integration, and related funding, with limited funds wisely. By using a combination of employment, entrepreneurship for poverty eradication poverty eradication, education, poverty alleviation, medical aid of poverty means, due to effects of policies, those policies, ensure the completion of mission objectives for poverty eradication for the year. To actively promote the construction of new towns. In February this year, promulgated by the State Council on further promoting urbanization construction of new opinions, proposed to adhere to the people-centered, four modernizations synchronization, optimization, ecology civilization and cultural heritage of new urbanization path with Chinese characteristics. According to district-wide construction of civilized city and the beautiful countryside, further strengthening of urban transport, water supply and drainage and sewage, waste disposal ground, underground, such as infrastructure construction, strive to create a safer and more livable environment. To actively seize the full stop and opportunities for poverty alleviation and development, further efforts to increase forest villages merge, population to the County (district) Council sites and centres concentrated in villages and towns. Combined development of urban construction and tourism industries, careful planning and construction of a number of suitable for residential and farm tour towns and villages, forming one village one producta feature pattern. Closer to the masses. Since last year, our in-depth implementation of the leading cadres of grassroots masses at work, solve the problems of a large number of people, get the masses give wholehearted support to and praise, this work will carry on, absolutely cannot or movement. Grassroots masses and cadres in combination with poverty reduction, combined with the steady work ofletters and calls, and do practical things for the masses combine good, effective through reaching people at the service of the \hird, foster the development of new energy, new General Secretary XI Jinping stressed development of innovation forest restructuring, revitalization of the old industrial bases in Northeast China is the State's major strategy, Central has issued comprehensive opinions of revitalizing Northeast China and other old industrial bases, the CPC Central Committee on revitalization in Northeast China were ... Vigorous determination does not waver, the work does not slacken off. Be firm with in the development has more to do with hard, and not muddle along, passive inaction. To rely on their own efforts, can't wait, can't wait, stand still. This not only provides new opportunities for development in our region, and gave us new requirements. We must seize the opportunity, full use of national policy, has to be more complicated, to start and target, give full play to theinitiative of leading cadres at all levels, active, active, focusing on building new momentum for development, accelerating transformation of forest development. To implement the new development philosophy. Philosophy is the action guide, new ideas and new developments. Carrying out innovation, coordination and development of green, open, shared ideas, must be measurable, direct action with new development concepts, training cadres. In a new development concept as a yardstick. Established in line with the new concept of evaluation system and evaluation criterion, embodies the new development policy, organization, mandate implementation, always measured by the new development philosophy, continuous correction of forest transition course. In a new development concept for the path command. As part of the implementation of the new development philosophy followed and action guidelines, firmly adjusted, corrected and reject unsuitable, inappropriate and even againstthe new development ideas, behaviors and practices, more pragmatic approach based on a broad vision, and creatively carry out ecological construction, industrial development, improving people's livelihood, such as the work to ensure that new development ideas take root in forest areas. In a new development concept for weapon training cadre. Education leaders \he new, nothing\es, enhancing vitality and power. Combined development \nd implementation \engineering\nd create \nvironment\hening on new development, and new economy concept of learning, and grasp and using, real put thought and action unified to new development concept up, at with new development concept armed himself, and guide practice, effective do advocate innovation, and focused on coordination, and advocate green, and thick plant open, and advance shared. Second, we must rely on Science and technology affects. Tchnical innovation is the promotion of economic transformation and upgrading, quality and efficiency \er\答案：B 解析：

劳动生产率提高超过平均工资增长影响降低率=（1-将来的费用率）* 直接工资费用占成本的比例 ={1-(1+5.8%) / (1+15%)} * 15% =1.2% 教材：381页

17.下列各种方法中，属于销售收入趋势分析预测方法的是（） A.特尔菲法 B.专家小组法 C.简单平均法 D.专家判断法答案：C 解析：

趋势分析法是企业根据销售的历史资料，用一定的计算方法预测出未来的销售变化趋势。适用于产品销售比较稳定，销售变化有规律的企业。

有：简单平均法、移动平均法、加权移动平均法、指数平滑法和季节预测法。教材：442页

18.某企业3月份实际销售额为5 100万元，原来预测的3月份销售额为6 200万元，指数平滑系数为0.6，则4月份的预测销售额是（） A.5 540万元 B.5 760万元 C.5 890万元 D.5 940万元答案：A

解析：4月份预测的销售额=0.6 * 实际销售额5100万元 + （1-0.6） * 预测销售额6200万元=5540万元教材：445页

19.下列各项对破产清算的表述中，正确的是（） A.破产清算是企业经营期满而进行的清算

D.破产清算是企业资不抵债时，人民法院依照有关法律规定对企业进行的清算答案：D 解析： A：解散清算; B：行政清算； C：自愿清算。教材：524页

20.下列财务指标中属于结构比率指标的是（） A.流动比率 B.现金比率

C.产权比率 D.存货与流动资产的比率答案：D 解析：

结构比率是指财务报表中个别项目数值与全部项目总和的比率。教材：547页

二、多项选择题(本大题共10小题，每小题2分，共20分)

在每小题列出的五个备选项中至少有两个是符合题目要求的，请将其代码填写在题后的括号内。错选、多选、少选或未选均无分。

21.风险价值系数的确定方法包括（） A.根据市场平均利润率确定 B.由企业领导或有关专家确定 C.根据以往同类项目的有关数据确定 D.由国家有关部门组织专家确定

ivelihood, is related to people's well-being and social harmony and stability. We need to protect and improve the livelihood of the people as the starting point and ending point of transition and improve forest people's feeling and happiness. To promote poverty relief and development work. Implementing poverty alleviation crucial project is a major strategic decision made by the CPC Central Committee, is also determined by the provincial \nking and action to the requirements of the Central, provincial, resolutely win the poverty battle. The previous phase I to 18 stations, Tahe, Pine Ridge research, visited many of the poor, go, the heavier, more pressure. For poverty relief and development work, we must pay attention to it, always in mind, grasping hands, should not be blindly optimistic, there can be no slack. Poverty alleviation and development lies in precise, accurate. Present, in order to find out the real base of poor people as soon as possible, come up with feasible poverty standards, state card, built on the basis of document management. To firmly establish the \poverty reduction\he intensity of resource integration, and related funding, with limited funds wisely. By using a combination of employment, entrepreneurship for poverty eradication poverty eradication, education, poverty alleviation, medical aid of poverty means, due to effects of policies, those policies, ensure the completion of mission objectives for poverty eradication for the year. To actively promote the construction of new towns. In February this year, promulgated by the State Council on further promoting urbanization construction of new opinions, proposed to adhere to the people-centered, four modernizations synchronization, optimization, ecology civilization and cultural heritage of new urbanization path with Chinese characteristics. According to district-wide construction of civilized city and the beautiful countryside, further strengthening of urban transport, water supply and drainage and sewage, waste disposal ground, underground, such as infrastructure construction, strive to create a safer and more livable environment. To actively seize the full stop and opportunities for poverty alleviation and development, further efforts to increase forest villages merge, population to the County (district) Council sites and centres concentrated in villages and towns. Combined development of urban construction and tourism industries, careful planning and construction of a number of suitable for residential and farm tour towns and villages, forming one village one producta feature pattern. Closer to the masses. Since last year, our in-depth implementation of the leading cadres of grassroots masses at work, solve the problems of a large number of people, get the masses give wholehearted support to and praise, this work will carry on, absolutely cannot or movement. Grassroots masses and cadres in combination with poverty reduction, combined with the steady work ofletters and calls, and do practical things for the masses combine good, effective through reaching people at the service of the \hird, foster the development of new energy, new General Secretary XI Jinping stressed development of innovation forest restructuring, revitalization of the old industrial bases in Northeast China is the State's major strategy, Central has issued comprehensive opinions of revitalizing Northeast China and other old industrial bases, the CPC Central Committee on revitalization in Northeast China were ... Vigorous determination does not waver, the work does not slacken off. Be firm with in the development has more to do with hard, and not muddle along, passive inaction. To rely on their own efforts, can't wait, can't wait, stand still. This not only provides new opportunities for development in our region, and gave us new requirements. We must seize the opportunity, full use of national policy, has to be more complicated, to start and target, give full play to theinitiative of leading cadres at all levels, active, active, focusing on building new momentum for development, accelerating transformation of forest development. To implement the new development philosophy. Philosophy is the action guide, new ideas and new developments. Carrying out innovation, coordination and development of green, open, shared ideas, must be measurable, direct action with new development concepts, training cadres. In a new development concept as a yardstick. Established in line with the new concept of evaluation system and evaluation criterion, embodies the new development policy, organization, mandate implementation, always measured by the new development philosophy, continuous correction of forest transition course. In a new development concept for the path command. As part of the implementation of the new development philosophy followed and action guidelines, firmly adjusted, corrected and reject unsuitable, inappropriate and even againstthe new development ideas, behaviors and practices, more pragmatic approach based on a broad vision, and creatively carry out ecological construction, industrial development, improving people's livelihood, such as the work to ensure that new development ideas take root in forest areas. In a new development concept for weapon training cadre. Education leaders \he new, nothing\es, enhancing vitality and power. Combined development \nd implementation \engineering\nd create \nvironment\hening on new development, and new economy concept of learning, and grasp and using, real put thought and action unified to new development concept up, at with new development concept armed himself, and guide practice, effective do advocate innovation, and focused on coordination, and advocate green, and thick plant open, and advance shared. Second, we must rely on Science and technology affects. Tchnical innovation is the promotion of economic transformation and upgrading, quality and efficiency \er\E.根据投资人要求的最低报酬率确定答案：BCD 教材：77页

22.企业资本金管理原则的内容包括（） A.资本确定原则 B.资本保全原则 C.资本充实原则 D.资本增值原则 E.资本成本最低原则答案：ABCD 解析：

资本确定原则，资本充实原则，资本保全原则，资本增值原则，资本统筹使用原则。教材：95页

23.现行转账结算的主要方式有（） A.银行贴现结算 B.汇兑结算 C.商业汇票结算 D.托收承付结算 E.银行汇票结算答案：BCDE 教材：192页

24.下列属于应收账款信用政策的内容有（） A.销售折让 B.信用标准 C.信用期限 D.收账政策 E.销售退回答案：BCD

解析：还有现金折扣。

25.无形资产摊销涉及的主要影响因素有（） A.无形资产的摊销年限 B.无形资产的摊销方法 C.无形资产创造的收益 D.无形资产的成本和残值 E.无形资产摊销开始的月份答案：ABDE 教材：311页

26.企业对外投资的全部开支包括（） A.资金成本 B.目标成本 C.前期费用 D.实际投资额 E.投资回收费用答案：ACDE 教材：320页

27.可以计入企业管理费用的税金有（） A.房产税 B.所得税 C.印花税 D.增值税 E.车船使用税答案：ACE 教材：364页

28.工业企业其他业务收入包括的项目有（） A.出租包装物取得的收入 B.出租固定资产取得的收入 C.销售外购商品取得的收入 D.销售多余原材料取得的收入 E.提供工业性劳务取得的收入

29.下列各项中，属于企业购并动机的有（） A.降低代理成本 B.节约交易成本 C.降低投资风险 D.增加国家税收收入 E.增强企业在市场中的地位答案：

解析：还有提高企业效率，目标公司价值被低估。教材：513页

30.以下属于反映企业短期偿债能力的财务比率有（） A.速动比率 B.现金比率 C.产权比率 D.流动比率 E.有形资产负债比率答案：ABD 教材：551页

三、简答题（本大题共4小题，每小题5分，共20分） 31.简述财务管理的工作环节。答案：

财务预测：财务预测是根据财务活动的历史资料，考虑现实的要求和条件，对企业未来的财务活动和财务成果作出科学的预计和测算。

财务决策：财务决策是根据企业经营战略的要求和国家宏观经济政策的要求，从提高企业经济效益的理财目标出发，在若干个可以选择的财务活动方案中，选择一个最优方案的过程。

财务控制：财务控制是在生产经营活动的过程中，以计划任务和各项定额为依据，对资金的收入、支出、占用、耗费进行日常的核算，利用特定手段对各单位财务活动进行调节，以便实现计划规定的财务目标。

财务分析：财务分析是以核算资料为主要依据，对企业财务活动的过程和结果进行评价和剖析的一项工作。教材：23页

32.简述流动资金的概念和特点。

答案：流动资金是指企业生产经营活动中占用在流动资产上的资金，亦称为营运资金。流动资产是指可以在一年内或超过一年的一个营业周期内变现或者运用的资产。 1.流动资金占用形态的变动性。

货币资金 ――生产储备资金－－未完工产品资金 ——成品资金― ―结算资金和货币资金研究流动资金占用形态的变动性，有助于合理配置各种占用资金形态，促使周转顺利进行。 2.流动资金占用数量的波动性。

在生产过程中，随着供产销变化，资金占用数量有高有低，具有波动性。 3.流动资金循环与生产经营周期的一致性。

完成一次生产经营周期，就完成一次循环。生产经营周期决定循环的时间。

引申：流动资金的组成内容，流动资金的管理的意义和要求，都易考简答题。教材：179页

33.简述股利政策的含义及影响公司制订股利政策的法律因素。

答案：股利政策是关于公司是否发放股利、发放多少股利以及何时发放股利等方面的方针和策略。法律因素：为保护投资者利益，各国法律都对公司的股利分配进行一定的限制。 1.资本保全约束；

ivelihood, is related to people's well-being and social harmony and stability. We need to protect and improve the livelihood of the people as the starting point and ending point of transition and improve forest people's feeling and happiness. To promote poverty relief and development work. Implementing poverty alleviation crucial project is a major strategic decision made by the CPC Central Committee, is also determined by the provincial \nking and action to the requirements of the Central, provincial, resolutely win the poverty battle. The previous phase I to 18 stations, Tahe, Pine Ridge research, visited many of the poor, go, the heavier, more pressure. For poverty relief and development work, we must pay attention to it, always in mind, grasping hands, should not be blindly optimistic, there can be no slack. Poverty alleviation and development lies in precise, accurate. Present, in order to find out the real base of poor people as soon as possible, come up with feasible poverty standards, state card, built on the basis of document management. To firmly establish the \poverty reduction\he intensity of resource integration, and related funding, with limited funds wisely. By using a combination of employment, entrepreneurship for poverty eradication poverty eradication, education, poverty alleviation, medical aid of poverty means, due to effects of policies, those policies, ensure the completion of mission objectives for poverty eradication for the year. To actively promote the construction of new towns. In February this year, promulgated by the State Council on further promoting urbanization construction of new opinions, proposed to adhere to the people-centered, four modernizations synchronization, optimization, ecology civilization and cultural heritage of new urbanization path with Chinese characteristics. According to district-wide construction of civilized city and the beautiful countryside, further strengthening of urban transport, water supply and drainage and sewage, waste disposal ground, underground, such as infrastructure construction, strive to create a safer and more livable environment. To actively seize the full stop and opportunities for poverty alleviation and development, further efforts to increase forest villages merge, population to the County (district) Council sites and centres concentrated in villages and towns. Combined development of urban construction and tourism industries, careful planning and construction of a number of suitable for residential and farm tour towns and villages, forming one village one producta feature pattern. Closer to the masses. Since last year, our in-depth implementation of the leading cadres of grassroots masses at work, solve the problems of a large number of people, get the masses give wholehearted support to and praise, this work will carry on, absolutely cannot or movement. Grassroots masses and cadres in combination with poverty reduction, combined with the steady work ofletters and calls, and do practical things for the masses combine good, effective through reaching people at the service of the \hird, foster the development of new energy, new General Secretary XI Jinping stressed development of innovation forest restructuring, revitalization of the old industrial bases in Northeast China is the State's major strategy, Central has issued comprehensive opinions of revitalizing Northeast China and other old industrial bases, the CPC Central Committee on revitalization in Northeast China were ... Vigorous determination does not waver, the work does not slacken off. Be firm with in the development has more to do with hard, and not muddle along, passive inaction. To rely on their own efforts, can't wait, can't wait, stand still. This not only provides new opportunities for development in our region, and gave us new requirements. We must seize the opportunity, full use of national policy, has to be more complicated, to start and target, give full play to theinitiative of leading cadres at all levels, active, active, focusing on building new momentum for development, accelerating transformation of forest development. To implement the new development philosophy. Philosophy is the action guide, new ideas and new developments. Carrying out innovation, coordination and development of green, open, shared ideas, must be measurable, direct action with new development concepts, training cadres. In a new development concept as a yardstick. Established in line with the new concept of evaluation system and evaluation criterion, embodies the new development policy, organization, mandate implementation, always measured by the new development philosophy, continuous correction of forest transition course. In a new development concept for the path command. As part of the implementation of the new development philosophy followed and action guidelines, firmly adjusted, corrected and reject unsuitable, inappropriate and even againstthe new development ideas, behaviors and practices, more pragmatic approach based on a broad vision, and creatively carry out ecological construction, industrial development, improving people's livelihood, such as the work to ensure that new development ideas take root in forest areas. In a new development concept for weapon training cadre. Education leaders \he new, nothing\es, enhancing vitality and power. Combined development \nd implementation \engineering\nd create \nvironment\hening on new development, and new economy concept of learning, and grasp and using, real put thought and action unified to new development concept up, at with new development concept armed himself, and guide practice, effective do advocate innovation, and focused on coordination, and advocate green, and thick plant open, and advance shared. Second, we must rely on Science and technology affects. Tchnical innovation is the promotion of economic transformation and upgrading, quality and efficiency \er\ 是为了保护投资者的利益而做出的法律限制。股份公司只能用当期利润或留用利润来分配股利，不能用公司出售股票而募集的资本发放股利。这样是为了保护公司的股东权益资本，以维护债权人的利益。 2.企业积累约束；

要求股份公司在分配股利之前，应当按法定的程序先提取各种公积金。 3.企业利润约束；

只有在企业以前年度的亏损全部弥补完后，若还有剩余利润，才能用于分配股利。 4.偿债能力约束。

在分配股利时，必须保持充分的偿债能力。企业分配股利不能只看损益表上的净利润，还必须考虑企业的现金是否充足。教材：488页

引申：股利分配政策也是易考内容。

34.简述财务分析的目的和意义。答案：

目的：评价过去的经营业绩、衡量现在的财务状况，预测未来的发展趋势; 意义：

（1）有利于企业经营管理者进行经营决策和改善经营管理。（2）有利于投资者作出投资决策和债权人制定信用政策。

投资者：为了提高投资收益，减少投资风险，投资者要正确进行投资决策。债权人：为了按时收回货款，减少坏账损失，债权人要制定正确的信用政策。（3）有利于国家财税机关等政府部门加强税收征管工作和正确进行宏观调控。教材：532页

四、计算题(本大题共4小题，第35、36题每题5分，第37、38题每题10分，共30分)

35.甲企业计划利用一笔长期资金投资购买证券，现有A、B两个公司的股票可供选择。已知A公司股票现行市价为每股4元，基年每股股利为0.2元，预计以后每年以5％的增长率增长；

要求：利用股票估价模型分别计算A、B公司股票价值，并代甲企业作出股票投资决策。 (注：计算结果保留小数点后两位) 答案：

（1）A股票：长期持有、股利固定增长的股票。

V= {基年股利 * （1+股利增长率）} / （必要报酬率 – 股利增长率） ={0.2 * (1 + 5% )} / ( 10% - 5% ) =4.2元

股票价值4.2元，而价格4元，价格低于价值，还有升值空间，可以购买。

（2）B股票：长期持有、股利每年不变的股票=永续年金现值 V=0.5 / 10% = 5 元

股票价值5元，现行价格6元，价格高于其价值，不可以进行投资。

教材：327页

36.假定企业生产甲产品，每批生产量为80件，所耗费的原材料资料如下表：

项目单位改进前改进后

原材料消耗总量千克 22 500 21 800 原材料平均单价元／千克 20 20 加工后产品净重千克 21 300 20 850

要求：根据表中资料计算下列指标。

(1)改进前生产每批产品所耗费的原材料总成本；

ivelihood, is related to people's well-being and social harmony and stability. We need to protect and improve the livelihood of the people as the starting point and ending point of transition and improve forest people's feeling and happiness. To promote poverty relief and development work. Implementing poverty alleviation crucial project is a major strategic decision made by the CPC Central Committee, is also determined by the provincial \nking and action to the requirements of the Central, provincial, resolutely win the poverty battle. The previous phase I to 18 stations, Tahe, Pine Ridge research, visited many of the poor, go, the heavier, more pressure. For poverty relief and development work, we must pay attention to it, always in mind, grasping hands, should not be blindly optimistic, there can be no slack. Poverty alleviation and development lies in precise, accurate. Present, in order to find out the real base of poor people as soon as possible, come up with feasible poverty standards, state card, built on the basis of document management. To firmly establish the \poverty reduction\he intensity of resource integration, and related funding, with limited funds wisely. By using a combination of employment, entrepreneurship for poverty eradication poverty eradication, education, poverty alleviation, medical aid of poverty means, due to effects of policies, those policies, ensure the completion of mission objectives for poverty eradication for the year. To actively promote the construction of new towns. In February this year, promulgated by the State Council on further promoting urbanization construction of new opinions, proposed to adhere to the people-centered, four modernizations synchronization, optimization, ecology civilization and cultural heritage of new urbanization path with Chinese characteristics. According to district-wide construction of civilized city and the beautiful countryside, further strengthening of urban transport, water supply and drainage and sewage, waste disposal ground, underground, such as infrastructure construction, strive to create a safer and more livable environment. To actively seize the full stop and opportunities for poverty alleviation and development, further efforts to increase forest villages merge, population to the County (district) Council sites and centres concentrated in villages and towns. Combined development of urban construction and tourism industries, careful planning and construction of a number of suitable for residential and farm tour towns and villages, forming one village one producta feature pattern. Closer to the masses. Since last year, our in-depth implementation of the leading cadres of grassroots masses at work, solve the problems of a large number of people, get the masses give wholehearted support to and praise, this work will carry on, absolutely cannot or movement. Grassroots masses and cadres in combination with poverty reduction, combined with the steady work ofletters and calls, and do practical things for the masses combine good, effective through reaching people at the service of the \hird, foster the development of new energy, new General Secretary XI Jinping stressed development of innovation forest restructuring, revitalization of the old industrial bases in Northeast China is the State's major strategy, Central has issued comprehensive opinions of revitalizing Northeast China and other old industrial bases, the CPC Central Committee on revitalization in Northeast China were ... Vigorous determination does not waver, the work does not slacken off. Be firm with in the development has more to do with hard, and not muddle along, passive inaction. To rely on their own efforts, can't wait, can't wait, stand still. This not only provides new opportunities for development in our region, and gave us new requirements. We must seize the opportunity, full use of national policy, has to be more complicated, to start and target, give full play to theinitiative of leading cadres at all levels, active, active, focusing on building new momentum for development, accelerating transformation of forest development. To implement the new development philosophy. Philosophy is the action guide, new ideas and new developments. Carrying out innovation, coordination and development of green, open, shared ideas, must be measurable, direct action with new development concepts, training cadres. In a new development concept as a yardstick. Established in line with the new concept of evaluation system and evaluation criterion, embodies the new development policy, organization, mandate implementation, always measured by the new development philosophy, continuous correction of forest transition course. In a new development concept for the path command. As part of the implementation of the new development philosophy followed and action guidelines, firmly adjusted, corrected and reject unsuitable, inappropriate and even againstthe new development ideas, behaviors and practices, more pragmatic approach based on a broad vision, and creatively carry out ecological construction, industrial development, improving people's livelihood, such as the work to ensure that new development ideas take root in forest areas. In a new development concept for weapon training cadre. Education leaders \he new, nothing\es, enhancing vitality and power. Combined development \nd implementation \engineering\nd create \nvironment\hening on new development, and new economy concept of learning, and grasp and using, real put thought and action unified to new development concept up, at with new development concept armed himself, and guide practice, effective do advocate innovation, and focused on coordination, and advocate green, and thick plant open, and advance shared. Second, we must rely on Science and technology affects. Tchnical innovation is the promotion of economic transformation and upgrading, quality and efficiency \er\(2)改进前生产单件产品所耗费的原材料成本； (3)改进前原材料利用率； (4)改进后原材料利用率；

(5)计算原材料利用率变动对产品单位成本的影响额。 (注：计算结果保留小数点后两位) 答案：

(1)改进前生产每批产品所耗费的原材料总成本； =22 500 * 20 =450 000

(2)改进前生产单件产品所耗费的原材料成本； =450 000 / 80 = 5625 (3)改进前原材料利用率； = 21300 / 22500 ≈ 94.67% (4)改进后原材料利用率； = 20850 / 21800 ≈ 95.64%

(5)计算原材料利用率变动对产品单位成本的影响额。 5625 * （95.64% - 94.67% ）/ 95.64% ≈ 5625 * 1.01% ≈ 56.81 （降低额）教材：418页

37.某公司2007年发行在外普通股l 000万股，公司年初发行了一种债券，数量为l万张，每张面值为1 000元，票面利率为10％，发行价格为1 100元，债券年利息为公司全年利息总额的10％，发行费用占发行价格的2％。该公司全年固定成本总额为1500万元(不含利息费用)，2007年的净利润为750万元，所得税税率为25％。

letters and calls, and do practical things for the masses combine good, effective through reaching people at the service of the \hird, foster the development of new energy, new General Secretary XI Jinping stressed development of innovation forest restructuring, revitalization of the old industrial bases in Northeast China is the State's major strategy, Central has issued comprehensive opinions of revitalizing Northeast China and other old industrial bases, the CPC Central Committee on revitalization in Northeast China were ... Vigorous determination does not waver, the work does not slacken off. Be firm with in the development has more to do with hard, and not muddle along, passive inaction. To rely on their own efforts, can't wait, can't wait, stand still. This not only provides new opportunities for development in our region, and gave us new requirements. We must seize the opportunity, full use of national policy, has to be more complicated, to start and target, give full play to theinitiative of leading cadres at all levels, active, active, focusing on building new momentum for development, accelerating transformation of forest development. To implement the new development philosophy. Philosophy is the action guide, new ideas and new developments. Carrying out innovation, coordination and development of green, open, shared ideas, must be measurable, direct action with new development concepts, training cadres. In a new development concept as a yardstick. Established in line with the new concept of evaluation system and evaluation criterion, embodies the new development policy, organization, mandate implementation, always measured by the new development philosophy, continuous correction of forest transition course. In a new development concept for the path command. As part of the implementation of the new development philosophy followed and action guidelines, firmly adjusted, corrected and reject unsuitable, inappropriate and even againstthe new development ideas, behaviors and practices, more pragmatic approach based on a broad vision, and creatively carry out ecological construction, industrial development, improving people's livelihood, such as the work to ensure that new development ideas take root in forest areas. In a new development concept for weapon training cadre. Education leaders \he new, nothing\es, enhancing vitality and power. Combined development \nd implementation \three big engineering\nd create \nvironment\hening on new development, and new economy concept of learning, and grasp and using, real put thought and action unified to new development concept up, at with new development concept armed himself, and guide practice, effective do advocate innovation, and focused on coordination, and advocate green, and thick plant open, and advance shared. Second, we must rely on Science and technology affects. Tchnical innovation is the promotion of economic transformation and upgrading, quality and efficiency \er\要求：根据上述资料计算下列指标。 (1)2007年利润总额；

(2)2007年公司全年利息总额； (3)2007年息税前利润总额；

(4)2007年债券筹资的资本成本(计算结果保留两位小数)； (5)公司财务杠杆系数；

(6)2008年，该公司打算为一个新的投资项目融资5 000万元，现有两个方案可供选择：按12％的利率发行债券(方案1)；按每股20元发行新股(方案2)。计算两个方案每股利润无差别点的息税前利润。答案：

(1)2007年利润总额；净利润=利润总额 * 所得税率利润总额=750 / （1-25%） =1000 万

(2)2007年公司全年利息总额；债券年利息=1 * 1000 * 10% =100万全年利息总额= 100万 /10% =1000万

(3)2007年息税前利润总额；教材167页 =1000 + 1000 =2000 万

(4)2007年债券筹资的资本成本(计算结果保留两位小数)；教材160页 =税后利息 / 发行所得

={100 万* （1-25%）} / { 1100万 *（ 1-2% ）} * 100% =75 / 1078 * 100% ≈6.96%

(5)公司财务杠杆系数；

ivelihood, is related to people's well-being and social harmony and stability. We need to protect and improve the livelihood of the people as the starting point and ending point of transition and improve forest people's feeling and happiness. To promote poverty relief and development work. Implementing poverty alleviation crucial project is a major strategic decision made by the CPC Central Committee, is also determined by the provincial \nking and action to the requirements of the Central, provincial, resolutely win the poverty battle. The previous phase I to 18 stations, Tahe, Pine Ridge research, visited many of the poor, go, the heavier, more pressure. For poverty relief and development work, we must pay attention to it, always in mind, grasping hands, should not be blindly optimistic, there can be no slack. Poverty alleviation and development lies in precise, accurate. Present, in order to find out the real base of poor people as soon as possible, come up with feasible poverty standards, state card, built on the basis of document management. To firmly establish the \poverty reduction\he intensity of resource integration, and related funding, with limited funds wisely. By using a combination of employment, entrepreneurship for poverty eradication poverty eradication, education, poverty alleviation, medical aid of poverty means, due to effects of policies, those policies, ensure the completion of mission objectives for poverty eradication for the year. To actively promote the construction of new towns. In February this year, promulgated by the State Council on further promoting urbanization construction of new opinions, proposed to adhere to the people-centered, four modernizations synchronization, optimization, ecology civilization and cultural heritage of new urbanization path with Chinese characteristics. According to district-wide construction of civilized city and the beautiful countryside, further strengthening of urban transport, water supply and drainage and sewage, waste disposal ground, underground, such as infrastructure construction, strive to create a safer and more livable environment. To actively seize the full stop and opportunities for poverty alleviation and development, further efforts to increase forest villages merge, population to the County (district) Council sites and centres concentrated in villages and towns. Combined development of urban construction and tourism industries, careful planning and construction of a number of suitable for residential and farm tour towns and villages, forming one village one producta feature pattern. Closer to the masses. Since last year, our in-depth implementation of the leading cadres of grassroots masses at work, solve the problems of a large number of people, get the masses give wholehearted support to and praise, this work will carry on, absolutely cannot or movement. Grassroots masses and cadres in combination with poverty reduction, combined with the steady work ofletters and calls, and do practical things for the masses combine good, effective through reaching people at the service of the \hird, foster the development of new energy, new General Secretary XI Jinping stressed development of innovation forest restructuring, revitalization of the old industrial bases in Northeast China is the State's major strategy, Central has issued comprehensive opinions of revitalizing Northeast China and other old industrial bases, the CPC Central Committee on revitalization in Northeast China were ... Vigorous determination does not waver, the work does not slacken off. Be firm with in the development has more to do with hard, and not muddle along, passive inaction. To rely on their own efforts, can't wait, can't wait, stand still. This not only provides new opportunities for development in our region, and gave us new requirements. We must seize the opportunity, full use of national policy, has to be more complicated, to start and target, give full play to theinitiative of leading cadres at all levels, active, active, focusing on building new momentum for development, accelerating transformation of forest development. To implement the new development philosophy. Philosophy is the action guide, new ideas and new developments. Carrying out innovation, coordination and development of green, open, shared ideas, must be measurable, direct action with new development concepts, training cadres. In a new development concept as a yardstick. Established in line with the new concept of evaluation system and evaluation criterion, embodies the new development policy, organization, mandate implementation, always measured by the new development philosophy, continuous correction of forest transition course. In a new development concept for the path command. As part of the implementation of the new development philosophy followed and action guidelines, firmly adjusted, corrected and reject unsuitable, inappropriate and even againstthe new development ideas, behaviors and practices, more pragmatic approach based on a broad vision, and creatively carry out ecological construction, industrial development, improving people's livelihood, such as the work to ensure that new development ideas take root in forest areas. In a new development concept for weapon training cadre. Education leaders \he new, nothing\es, enhancing vitality and power. Combined development \nd implementation \engineering\nd create \nvironment\hening on new development, and new economy concept of learning, and grasp and using, real put thought and action unified to new development concept up, at with new development concept armed himself, and guide practice, effective do advocate innovation, and focused on coordination, and advocate green, and thick plant open, and advance shared. Second, we must rely on Science and technology affects. Tchnical innovation is the promotion of economic transformation and upgrading, quality and efficiency \er\=2000 / （2000 -1000） =2

(6)2008年，该公司打算为一个新的投资项目融资5 000万元，现有两个方案可供选择：按12％的利率发行债券(方案1)；按每股20元发行新股(方案2)。计算两个方案每股利润无差别点的息税前利润。（息税前利润 – 1000 -5000*12%）*（1-33%） / 1000 =（息税前利润 – 1000）*（1-33%） / （1000+5000/20）则：息税前利润=4000万元教材：171页

38.某企业计划进行某项投资活动，相关资料如下：方案原始投资额1 000万元，其中固定资产投资800万元，流动资金投资200万元，均于建设起点一次投入。使用寿命5年，固定资产残值收入50万元。投产后，每年营业现金收入650万元，每年付现成本250万元。固定资产按年数总和法计提折旧，全部流动资金于终结点收回。该企业适用的所得税率为25％。要求：

(1)计算该固定资产每年应计提的折旧； (2)计算投产后各年的净利润； (3)计算方案各年的净现金流量；

(4)若该企业资本成本为10％，计算方案的净现值，并评价投资方案的可行性。 t 1 2 3 4 5

PVIF10%,t 0.909 0.826 0.751 0.683 0.621 PVIFA10%,t 0.909 1.736 2.487 3.170 3.791 (注：计算结果保留小数点后两位) 答案：

(1)计算该固定资产每年应计提的折旧；第一年（800-50）* 5/15 = 250

(2)计算投产后各年的净利润；

净利润=营业现金收入 – 付现成本 – 折旧第一年 (650-250- 250) *(1-25%) = 112.5 第二年 (650-250- 200) *(1-25%) = 150 第三年 (650-250- 150) *(1-25%) = 187.5 第四年 (650-250- 100) *(1-25%) = 225 第五年 (650-250- 50) *(1-25%) =262.5

(3)计算方案各年的净现金流量；第一年初初始现金流量 - 1000万元

各年末：营业现金流量和终结现金流量营业现金流量= 净利润 + 折旧第一年 112.5 + 250 =362.5 第二年 150 + 200 =350 第三年 187.5 + 150 =337.5 第四年 225 + 100 =325 第五年

经营期现金流量： 262.5 + 50 = 312.5 回收固定资金和流动资金：50 + 200 = 250 共流入：312.5+250=562.5

ivelihood, is related to people's well-being and social harmony and stability. We need to protect and improve the livelihood of the people as the starting point and ending point of transition and improve forest people's feeling and happiness. To promote poverty relief and development work. Implementing poverty alleviation crucial project is a major strategic decision made by the CPC Central Committee, is also determined by the provincial \nking and action to the requirements of the Central, provincial, resolutely win the poverty battle. The previous phase I to 18 stations, Tahe, Pine Ridge research, visited many of the poor, go, the heavier, more pressure. For poverty relief and development work, we must pay attention to it, always in mind, grasping hands, should not be blindly optimistic, there can be no slack. Poverty alleviation and development lies in precise, accurate. Present, in order to find out the real base of poor people as soon as possible, come up with feasible poverty standards, state card, built on the basis of document management. To firmly establish the \poverty reduction\he intensity of resource integration, and related funding, with limited funds wisely. By using a combination of employment, entrepreneurship for poverty eradication poverty eradication, education, poverty alleviation, medical aid of poverty means, due to effects of policies, those policies, ensure the completion of mission objectives for poverty eradication for the year. To actively promote the construction of new towns. In February this year, promulgated by the State Council on further promoting urbanization construction of new opinions, proposed to adhere to the people-centered, four modernizations synchronization, optimization, ecology civilization and cultural heritage of new urbanization path with Chinese characteristics. According to district-wide construction of civilized city and the beautiful countryside, further strengthening of urban transport, water supply and drainage and sewage, waste disposal ground, underground, such as infrastructure construction, strive to create a safer and more livable environment. To actively seize the full stop and opportunities for poverty alleviation and development, further efforts to increase forest villages merge, population to the County (district) Council sites and centres concentrated in villages and towns. Combined development of urban construction and tourism industries, careful planning and construction of a number of suitable for residential and farm tour towns and villages, forming one village one producta feature pattern. Closer to the masses. Since last year, our in-depth implementation of the leading cadres of grassroots masses at work, solve the problems of a large number of people, get the masses give wholehearted support to and praise, this work will carry on, absolutely cannot or movement. Grassroots masses and cadres in combination with poverty reduction, combined with the steady work ofletters and calls, and do practical things for the masses combine good, effective through reaching people at the service of the \hird, foster the development of new energy, new General Secretary XI Jinping stressed development of innovation forest restructuring, revitalization of the old industrial bases in Northeast China is the State's major strategy, Central has issued comprehensive opinions of revitalizing Northeast China and other old industrial bases, the CPC Central Committee on revitalization in Northeast China were ... Vigorous determination does not waver, the work does not slacken off. Be firm with in the development has more to do with hard, and not muddle along, passive inaction. To rely on their own efforts, can't wait, can't wait, stand still. This not only provides new opportunities for development in our region, and gave us new requirements. We must seize the opportunity, full use of national policy, has to be more complicated, to start and target, give full play to theinitiative of leading cadres at all levels, active, active, focusing on building new momentum for development, accelerating transformation of forest development. To implement the new development philosophy. Philosophy is the action guide, new ideas and new developments. Carrying out innovation, coordination and development of green, open, shared ideas, must be measurable, direct action with new development concepts, training cadres. In a new development concept as a yardstick. Established in line with the new concept of evaluation system and evaluation criterion, embodies the new development policy, organization, mandate implementation, always measured by the new development philosophy, continuous correction of forest transition course. In a new development concept for the path command. As part of the implementation of the new development philosophy followed and action guidelines, firmly adjusted, corrected and reject unsuitable, inappropriate and even againstthe new development ideas, behaviors and practices, more pragmatic approach based on a broad vision, and creatively carry out ecological construction, industrial development, improving people's livelihood, such as the work to ensure that new development ideas take root in forest areas. In a new development concept for weapon training cadre. Education leaders \he new, nothing\es, enhancing vitality and power. Combined development \nd implementation \engineering\nd create \nvironment\hening on new development, and new economy concept of learning, and grasp and using, real put thought and action unified to new development concept up, at with new development concept armed himself, and guide practice, effective do advocate innovation, and focused on coordination, and advocate green, and thick plant open, and advance shared. Second, we must rely on Science and technology affects. Tchnical innovation is the promotion of economic transformation and upgrading, quality and efficiency \er\(4)若该企业资本成本为10％，计算方案的净现值，并评价投资方案的可行性。第一年 362.5 * 0.909= 329.51 第二年 350 * 0.826= 289.1 第三年 337.5 * 0.751= 253.46 第四年 325 * 0.683= 221.98 第五年 562.5 * 0.621= 349.31

净现值=329.51+289.1 +253.46+221.98+ 349.31 -1000=443.36 净现值大于0，此方案可行。

五、论述题（本题10分）

39.试述如何正确理解资金时间价值的实质。答案：

资金时间价值：资金在周转使用中由于时间因素而形成的差额价值，即资金在生产经营中带来的增值额。资金时间价值的实质：是资金周转使用后的增值额。

1.要正确理解资金时间价值的产生原因；

（1）原因：并不是所有的货币都有时间价值，只有把货币作为资金投入生产经营活动才能产生时间价值。时间价值是在生产经营活动中产生的，不作为资金投入生产经营过程的货币，是没有时间价值可言的。（2）范围：具有时间价值的，不仅是货币资金，而且还有物质形态的资金。全部生产经营中的资金都具有时间价值，这是资金运动的客观规律。

2.要正确认识资金时间价值真正来源；

时间价值不可能由“时间”创造，也不可能由“耐心”创造，而只能由工人的劳动创造，时间价值的真正来源是工人创造的剩余价值。

3.要合理解决资金时间价值的计量原则。

资金时间价值的相对数（时间价值率）：是扣除风险和通货膨胀贴水后的社会平均资金利润率；

本文来源：https://www.bwwdw.com/article/ek43.html

相关文章：

正在阅读：

全国2008年10月高等教育自学考试财务管理学试题答案06-19

现金流风险管理分析10-12

第六章 6.1细胞的增值6.2细胞的分化12-31

商业地产业态规划最标准版工具库03-20

散文作文3篇11-21

2020云南省安全员B证考试题库及答案04-29

第 15 章线程09-15

兽医产科学试题07-06

内勤岗位转正个人述职09-27

微观经济学和宏观经济学有什么区别03-14

上一篇：催化重整故障诊断专家系统的设计与实现下一篇：河北地税网上报税软件