公司理财5

1、Chapter05-NetPresentValueandOtherInvestmentRules5-11.Thedifferencebetweenthepresentvalueofaninvestmentanditscostisthe:A.netpresentvalue.B.internalrateofreturn.C.paybackperiod.D.profitabilityindex.E.discountedpaybackperiod.2.Whichoneofthefollowingstatementsconcerningnetpresentvalue(NPV)iscorrect?A.Aninvestmentshouldbeacceptedif,andonlyif,theNPVisexactlyequaltozero.B.AninvestmentshouldbeacceptedonlyiftheNPVisequaltotheinitialcashflow.C.AninvestmentshouldbeacceptediftheNPVispositiveandrejectedifit。

2、isnegative.D.Aninvestmentwithgreatercashinflowsthancashoutflows,regardlessofwhenthecashflowsoccur,willalwayshaveapositiveNPVandthereforeshouldalwaysbeaccepted.E.Anyprojectthathaspositivecashflowsforeverytimeperiodaftertheinitialinvestmentshouldbeaccepted.3.Thelengthoftimerequiredforaninvestmenttogeneratecashflowssufficienttorecovertheinitialcostoftheinvestmentiscalledthe:A.netpresentvalue.B.internalrateofreturn.C.paybackperiod.D.profitabilityindex.E.discountedcashperiod4.Whichoneofthefollowingst。

3、atementsiscorrectconcerningthepaybackperiod?A.Aninvestmentisacceptableifitscalculatedpaybackperiodislessthansomepre-specifiedperiodoftime.B.Aninvestmentshouldbeacceptedifthepaybackispositiveandrejectedifitisnegative.C.Aninvestmentshouldberejectedifthepaybackispositiveandacceptedifitisnegative.D.Aninvestmentisacceptableifitscalculatedpaybackperiodisgreaterthansomepre-specifiedperiodoftime.E.Aninvestmentshouldbeacceptedanytimethepaybackperiodislessthanthediscountedpaybackperiod,givenapositivedisco。

4、untrate.5.Thelengthoftimerequiredforaproject'sdiscountedcashflowstoequaltheinitialcostoftheprojectiscalledthe:A.netpresentvalue.B.internalrateofreturn.C.paybackperiod.D.discountedprofitabilityindex.E.discountedpaybackperiod.6.Thediscountedpaybackrulestatesthatyoushouldacceptprojects:A.whichhaveadiscountedpaybackperiodthatisgreaterthansomepre-specifiedperiodoftime.B.ifthediscountedpaybackispositiveandrejectedifitisnegative.C.onlyifthediscountedpaybackperiodequalssomepre-specifiedperiodoftime.D.if。

5、thediscountedpaybackperiodislessthansomepre-specifiedperiodoftime.E.onlyifthediscountedpaybackperiodisequaltozero.7.Thediscountratethatmakesthenetpresentvalueofaninvestmentexactlyequaltozeroiscalledthe:A.externalrateofreturn.B.internalrateofreturn.C.averageaccountingreturn.D.profitabilityindex.E.Equalizer.8.AninvestmentisacceptableifitsIRR:A.isexactlyequaltoitsnetpresentvalue(NPV).B.isexactlyequaltozero.C.islessthantherequiredreturn.D.exceedstherequiredreturn.E.isexactlyequalto100%9.Thepossibili。

6、tythatmorethanonediscountratewillmaketheNPVofaninvestmentequaltozeroiscalledthe_____problem.A.netpresentvalueprofilingB.operationalambiguityC.mutuallyexclusiveinvestmentdecisionD.issuesofscaleE.multipleratesofreturn10.Asituationinwhichacceptingoneinvestmentpreventstheacceptanceofanotherinvestmentiscalledthe:A.netpresentvalueprofile.B.operationalambiguitydecision.C.mutuallyexclusiveinvestmentdecision.D.issuesofscaleproblem.E.multiplechoicesofoperationsdecision.11.Thepresentvalueofaninvestment'sfu。

7、turecashflowsdividedbytheinitialcostoftheinvestmentiscalledthe:A.netpresentvalue.B.internalrateofreturn.C.averageaccountingreturn.D.profitabilityindex.E.profileperiod.Chapter05-NetPresentValueandOtherInvestmentRules5-212.Aninvestmentisacceptableiftheprofitabilityindex(PI)oftheinvestmentis:A.greaterthanone.B.lessthanone.C.greaterthantheinternalrateofreturn(IRR).D.lessthanthenetpresentvalue(NPV).E.greaterthanapre-specifiedrateofreturn.13.Allelseconstant,thenetpresentvalueofatypicalinvestmentprojec。

8、tincreaseswhen:A.thediscountrateincreases.B.eachcashinflowisdelayedbyoneyear.C.theinitialcostofaprojectincreases.D.therateofreturndecreases.E.allcashinflowsoccurduringthelastyearofaproject'slifeinsteadofperiodicallythroughoutthelifeoftheproject.14.Theprimaryreasonthatcompanyprojectswithpositivenetpresentvaluesareconsideredacceptableisthat:A.theycreatevaluefortheownersofthefirm.B.theproject'srateofreturnexceedstherateofinflation.C.theyreturntheinitialcashoutlaywithinthreeyearsorless.D.therequired。

9、cashinflowsexceedtheactualcashinflows.E.theinvestment'scostexceedsthepresentvalueofthecashinflows.15.Ifaprojecthasanetpresentvalueequaltozero,then:I.thepresentvalueofthecashinflowsexceedstheinitialcostoftheproject.II.theprojectproducesarateofreturnthatjustequalstheraterequiredtoaccepttheproject.III.theprojectisexpectedtoproduceonlytheminimallyrequiredcashinflows.IV.anydelayinreceivingtheprojectedcashinflowswillcausetheprojecttohaveanegativenetpresentvalue.A.IIandIIIonlyB.IIandIVonlyC.I,II,andIVo。

10、nlyD.II,III,andIVonlyE.I,II,andIIIonly16.Netpresentvalue:A.cannotbeusedwhendecidingbetweentwomutuallyexclusiveprojects.B.ismoreusefultodecisionmakersthantheinternalrateofreturnwhencomparingdifferentsizedprojects.C.iseasytoexplaintonon-financialmanagersandthusistheprimarymethodofanalysisusedbythelowestlevelsofmanagement.D.isnotanaswidelyusedtoolaspaybackanddiscountedpayback.E.isverysimilarinitsmethodologytotheaverageaccountingreturn.17.Paybackisfrequentlyusedtoanalyzeindependentprojectsbecause:A.i。