2025年ACCAF9《财务管理》考试高频考点专项训练.docxVIP

2025年ACCAF9《财务管理》考试高频考点专项训练

考试时间：______分钟总分：______分姓名：______

说明：本试卷共分为五个部分，分别为A、B、C、D、E。请根据题目要求作答。

PartA:MultipleChoiceQuestions(Choosethemostappropriateanswer)

1.Acompanyisevaluatingaprojectwithaninitialinvestmentof￡100,000.Theprojectisexpectedtogeneratecashinflowsof￡40,000peryearfor4years.Therequiredrateofreturnis10%.TheNetPresentValue(NPV)oftheprojectisclosestto:

a)￡5,288

b)￡10,000

c)￡15,700

d)￡20,000

2.Whichofthefollowingmethodsofcapitalbudgetingtakesintoaccountthetimevalueofmoney?

a)PaybackPeriod

b)AccountingRateofReturn

c)NetPresentValue

d)InternalRateofReturn

3.Acompanyisconsideringaprojectwithahighdegreeofrisk.Whichofthefollowingmethodsismostappropriateforevaluatingthisproject?

a)Usingthecompanysweightedaveragecostofcapital(WACC)asthediscountrate

b)Usingarisk-adjusteddiscountrate

c)Ignoringtheriskandusingtheinternalrateofreturn(IRR)

d)Rejectingtheprojectimmediately

4.Whichofthefollowingstatementsregardingdividendpolicyiscorrect?

a)Dividendsaretax-deductibleforthecompany

b)Astabledividendpolicyalwaysleadstoanincreaseinshareprice

c)TheModigliani-Millertheoremsuggeststhatdividendpolicydoesnotaffectthevalueofacompany

d)Ahighdividendpayoutratioalwaysindicatesafinanciallyhealthycompany

5.Theuseofdebtinacompanyscapitalstructureincreasesfinancialleverage.Thismeans:

a)Earningspershare(EPS)willalwaysincrease

b)Thecompanysriskwillalwaysdecrease

c)Thepotentialreturnonequity(ROE)willincrease

d)Thecompanysweightedaveragecostofcapital(WACC)willalwaysdecrease

6.WhichofthefollowingisNOTacomponentofworkingcapital?

a)AccountsReceivable

b)AccountsPayable

c)Long-termDebt

d)Inventory

7.Acompanyhasacashconve