2024年4月高等教育自學考試

財務管理學試題課程代碼(ma)：00067

1.請考生按規(gui)定用(yong)筆將所有試題(ti)(ti)(ti)的答(da)(da)案(an)涂(tu)(tu)、寫在(zai)答(da)(da)題(ti)(ti)(ti)紙(zhi)上(shang)。2.答(da)(da)題(ti)(ti)(ti)前，考生務必將自己的考試課程名(ming)(ming)稱、姓名(ming)(ming)、準考證號(hao)用(yong)黑(hei)色字(zi)跡的簽字(zi)筆或鋼(gang)筆填寫在(zai)答(da)(da)題(ti)(ti)(ti)紙(zhi)規(gui)定的位置上(shang)。選(xuan)(xuan)(xuan)擇題(ti)(ti)(ti)部分(fen)注意事項(xiang)：每小(xiao)(xiao)(xiao)題(ti)(ti)(ti)選(xuan)(xuan)(xuan)出(chu)答(da)(da)案(an)后，用(yong)2B鉛筆把(ba)答(da)(da)題(ti)(ti)(ti)紙(zhi)上(shang)對應題(ti)(ti)(ti)目(mu)的答(da)(da)案(an)標(biao)號(hao)涂(tu)(tu)黑(hei)。如需改動(dong)(dong)，用(yong)橡皮擦(ca)干凈(jing)后，再選(xuan)(xuan)(xuan)涂(tu)(tu)其(qi)他答(da)(da)案(an)標(biao)號(hao)。不(bu)能答(da)(da)在(zai)試題(ti)(ti)(ti)卷(juan)上(shang)。一、單項(xiang)選(xuan)(xuan)(xuan)擇題(ti)(ti)(ti)：本(ben)大題(ti)(ti)(ti)共20小(xiao)(xiao)(xiao)題(ti)(ti)(ti)，每小(xiao)(xiao)(xiao)題(ti)(ti)(ti)1分(fen)，共20分(fen)。在(zai)每小(xiao)(xiao)(xiao)題(ti)(ti)(ti)列(lie)出(chu)的備選(xuan)(xuan)(xuan)項(xiang)中只有一項(xiang)是最符合題(ti)(ti)(ti)目(mu)要(yao)求的，請將其(qi)選(xuan)(xuan)(xuan)出(chu)。1. 公司采購材料產生資(zi)本(ben)流(liu)動(dong)(dong)的財務活(huo)動(dong)(dong)屬(shu)于(yu)A.經營活(huo)動(dong)(dong) B.投資(zi)活(huo)動(dong)(dong)C. 籌資(zi)活(huo)動(dong)(dong)D.股利(li)(li)分(fen)配活(huo)動(dong)(dong)2. 以(yi)交易對象為標(biao)準，金融市(shi)(shi)場(chang)(chang)可以(yi)分(fen)為A.發行市(shi)(shi)場(chang)(chang)和(he)流(liu)通(tong)(tong)市(shi)(shi)場(chang)(chang)B.一級市(shi)(shi)場(chang)(chang)和(he)二級市(shi)(shi)場(chang)(chang)C.短(duan)期(qi)資(zi)本(ben)市(shi)(shi)場(chang)(chang)和(he)長期(qi)資(zi)本(ben)市(shi)(shi)場(chang)(chang) D. 資(zi)本(ben)市(shi)(shi)場(chang)(chang)、外(wai)匯市(shi)(shi)場(chang)(chang)和(he)黃金市(shi)(shi)場(chang)(chang)3. 下列(lie)系(xi)(xi)數(shu)(shu)(shu)，互為倒數(shu)(shu)(shu)關系(xi)(xi)的是A.復(fu)利(li)(li)終值(zhi)(zhi)(zhi)(zhi)(zhi)系(xi)(xi)數(shu)(shu)(shu)與(yu)復(fu)利(li)(li)現(xian)值(zhi)(zhi)(zhi)(zhi)(zhi)系(xi)(xi)數(shu)(shu)(shu)B.復(fu)利(li)(li)終值(zhi)(zhi)(zhi)(zhi)(zhi)系(xi)(xi)數(shu)(shu)(shu)與(yu)普通(tong)(tong)年(nian)金終值(zhi)(zhi)(zhi)(zhi)(zhi)系(xi)(xi)數(shu)(shu)(shu)C. 復(fu)利(li)(li)現(xian)值(zhi)(zhi)(zhi)(zhi)(zhi)系(xi)(xi)數(shu)(shu)(shu)與(yu)普通(tong)(tong)年(nian)金現(xian)值(zhi)(zhi)(zhi)(zhi)(zhi)系(xi)(xi)數(shu)(shu)(shu)D.普通(tong)(tong)年(nian)金終值(zhi)(zhi)(zhi)(zhi)(zhi)系(xi)(xi)數(shu)(shu)(shu)與(yu)普通(tong)(tong)年(nian)金現(xian)值(zhi)(zhi)(zhi)(zhi)(zhi)系(xi)(xi)數(shu)(shu)(shu)4. 已知甲方(fang)(fang)案(an)凈(jing)現(xian)值(zhi)(zhi)(zhi)(zhi)(zhi)的期(qi)望值(zhi)(zhi)(zhi)(zhi)(zhi)為2000萬元(yuan)，乙方(fang)(fang)案(an)凈(jing)現(xian)值(zhi)(zhi)(zhi)(zhi)(zhi)的期(qi)望值(zhi)(zhi)(zhi)(zhi)(zhi)為1600萬元(yuan)，比較甲、乙兩方(fang)(fang)案(an)風險(xian)大小(xiao)(xiao)(xiao)應采用(yong)的指標(biao)是A.期(qi)望值(zhi)(zhi)(zhi)(zhi)(zhi) B.凈(jing)現(xian)值(zhi)(zhi)(zhi)(zhi)(zhi)C. 標(biao)準離差 D.標(biao)準離差率(lv)浙00067#財務管理(li)學試題(ti)(ti)(ti)第1頁(ye)(共7頁(ye))

5.下列(lie)屬于(yu)時點(dian)(dian)報表(biao)的(de)(de)是(shi)(shi)A.利潤表(biao)B.資(zi)(zi)(zi)產(chan)負債(zhai)(zhai)表(biao)C.現金流量(liang)表(biao)D.股東(dong)權益(yi)變(bian)動(dong)表(biao)6.下列(lie)用(yong)(yong)于(yu)反(fan)映(ying)權益(yi)資(zi)(zi)(zi)本(ben)(ben)(ben)獲利能力的(de)(de)財(cai)(cai)務指標(biao)是(shi)(shi)A.銷(xiao)售(shou)(shou)毛利率(lv)(lv)B.銷(xiao)售(shou)(shou)凈利率(lv)(lv)C.凈資(zi)(zi)(zi)產(chan)收(shou)益(yi)率(lv)(lv)D.總資(zi)(zi)(zi)產(chan)凈利率(lv)(lv)7.公(gong)司(si)日(ri)(ri)常業務預(yu)(yu)算編制的(de)(de)起點(dian)(dian)是(shi)(shi)A.生產(chan)預(yu)(yu)算B.銷(xiao)售(shou)(shou)預(yu)(yu)算C. 直(zhi)接(jie)材料預(yu)(yu)算D.直(zhi)接(jie)人(ren)工(gong)預(yu)(yu)算8. 下列(lie)不屬于(yu)企業全面預(yu)(yu)算內容的(de)(de)是(shi)(shi)A.財(cai)(cai)政(zheng)預(yu)(yu)算B.財(cai)(cai)務預(yu)(yu)算C.日(ri)(ri)常業務預(yu)(yu)算 D. 特(te)種決(jue)策(ce)預(yu)(yu)算9. 下列(lie)與公(gong)司(si)相關的(de)(de)利益(yi)主體(ti)中，能擁(yong)有公(gong)司(si)剩余財(cai)(cai)產(chan)求(qiu)償權的(de)(de)是(shi)(shi)A.債(zhai)(zhai)務人(ren) B. 債(zhai)(zhai)權人(ren)C.供應商D.普通股股東(dong)10.邊際資(zi)(zi)(zi)本(ben)(ben)(ben)成(cheng)(cheng)(cheng)本(ben)(ben)(ben)的(de)(de)用(yong)(yong)途是(shi)(shi)A. 用(yong)(yong)于(yu)資(zi)(zi)(zi)本(ben)(ben)(ben)結(jie)構決(jue)策(ce)B.用(yong)(yong)于(yu)追加籌(chou)資(zi)(zi)(zi)決(jue)策(ce)C.用(yong)(yong)于(yu)投資(zi)(zi)(zi)結(jie)構決(jue)策(ce) D. 用(yong)(yong)于(yu)股利分配決(jue)策(ce)11.下列(lie)關于(yu)財(cai)(cai)務杠桿的(de)(de)表(biao)述，正確的(de)(de)是(shi)(shi)A.是(shi)(shi)由于(yu)固定生產(chan)經(jing)營成(cheng)(cheng)(cheng)本(ben)(ben)(ben)存在而導致的(de)(de)B.反(fan)映(ying)的(de)(de)是(shi)(shi)息稅前(qian)利潤變(bian)動(dong)對(dui)產(chan)銷(xiao)量(liang)變(bian)動(dong)的(de)(de)影響程(cheng)(cheng)度C.反(fan)映(ying)的(de)(de)是(shi)(shi)普通股每股收(shou)益(yi)變(bian)動(dong)對(dui)產(chan)銷(xiao)量(liang)變(bian)動(dong)的(de)(de)影響程(cheng)(cheng)度D.反(fan)映(ying)的(de)(de)是(shi)(shi)息稅前(qian)利潤變(bian)動(dong)對(dui)普通股每股收(shou)益(yi)變(bian)動(dong)的(de)(de)影響程(cheng)(cheng)度12.某公(gong)司(si)202X年長期資(zi)(zi)(zi)本(ben)(ben)(ben)總額(e)為5000萬(wan)元，其中長期債(zhai)(zhai)務3000萬(wan)元，普通股2000萬(wan)元，資(zi)(zi)(zi)本(ben)(ben)(ben)成(cheng)(cheng)(cheng)本(ben)(ben)(ben)分別為6%和10%。該公(gong)司(si)加權平均資(zi)(zi)(zi)本(ben)(ben)(ben)成(cheng)(cheng)(cheng)本(ben)(ben)(ben)為A.4% B.7.6%C.8.6%D.16%13.下列(lie)屬于(yu)股票投資(zi)(zi)(zi)優點(dian)(dian)的(de)(de)是(shi)(shi)A.求(qiu)償權居后(hou)B. 收(shou)入穩(wen)定性(xing)高C. 本(ben)(ben)(ben)金安全性(xing)高D. 擁(yong)有公(gong)司(si)控(kong)制權浙00067#財(cai)(cai)務管(guan)理學(xue)試題第2頁(共(gong)7頁)

14.無法(fa)在(zai)短(duan)期(qi)內(nei)(nei)將債券以(yi)合(he)理(li)價格(ge)賣出的(de)(de)(de)風(feng)險稱(cheng)(cheng)為(wei)A. 違(wei)約風(feng)險B. 購買(mai)力(li)風(feng)險C. 變現(xian)(xian)力(li)風(feng)險D.再投資風(feng)險15.下列屬于現(xian)(xian)值指(zhi)(zhi)數優點的(de)(de)(de)是(shi)A.能夠(gou)(gou)提(ti)供(gong)項目的(de)(de)(de)實(shi)(shi)際回收期(qi)B. 能夠(gou)(gou)動態反映項目的(de)(de)(de)實(shi)(shi)際收益(yi)率C.能夠(gou)(gou)提(ti)供(gong)項目實(shi)(shi)際可以(yi)獲得的(de)(de)(de)財(cai)(cai)富D.能夠(gou)(gou)對初(chu)始(shi)投資額(e)不同(tong)的(de)(de)(de)投資方案(an)進(jin)行比較16. 下列屬于非折現(xian)(xian)現(xian)(xian)金流量(liang)指(zhi)(zhi)標的(de)(de)(de)是(shi)A.凈現(xian)(xian)值B.現(xian)(xian)值指(zhi)(zhi)數C. 會(hui)計(ji)收益(yi)率 D.內(nei)(nei)含報酬率17. 企業為(wei)抓(zhua)住有(you)利(li)(li)(li)可圖(tu)的(de)(de)(de)潛在(zai)投資機(ji)會(hui)而持(chi)有(you)現(xian)(xian)金的(de)(de)(de)需(xu)(xu)(xu)求(qiu)，稱(cheng)(cheng)為(wei)A.投機(ji)性(xing)(xing)需(xu)(xu)(xu)求(qiu)B.預防性(xing)(xing)需(xu)(xu)(xu)求(qiu)C. 交易性(xing)(xing)需(xu)(xu)(xu)求(qiu)D.補償(chang)性(xing)(xing)需(xu)(xu)(xu)求(qiu)18. 能夠(gou)(gou)使(shi)一定(ding)時(shi)期(qi)存貨的(de)(de)(de)總成本(ben)達(da)到(dao)最(zui)低點的(de)(de)(de)訂貨數量(liang)，稱(cheng)(cheng)為(wei)A.經濟批量(liang) B. 再訂貨量(liang)C.保險儲備(bei)量(liang)D. 存貨庫存量(liang)19.根據(ju)我國公(gong)(gong)司(si)(si)法(fa)的(de)(de)(de)規(gui)定(ding)，當(dang)公(gong)(gong)司(si)(si)法(fa)定(ding)公(gong)(gong)積金的(de)(de)(de)累(lei)計(ji)金額(e)達(da)到(dao)注冊(ce)資本(ben)的(de)(de)(de)一定(ding)比例(li)時(shi)，可以(yi)不再提(ti)取法(fa)定(ding)公(gong)(gong)積金，該比例(li)為(wei)A.10% B.20%C.50% D.100%20. 能夠(gou)(gou)使(shi)公(gong)(gong)司(si)(si)當(dang)年股(gu)(gu)(gu)利(li)(li)(li)支付(fu)水平(ping)與(yu)公(gong)(gong)司(si)(si)盈利(li)(li)(li)狀況保持(chi)同(tong)步(bu)變化(hua)的(de)(de)(de)股(gu)(gu)(gu)利(li)(li)(li)政(zheng)(zheng)(zheng)策(ce)(ce)類(lei)型是(shi)A.固(gu)定(ding)股(gu)(gu)(gu)利(li)(li)(li)政(zheng)(zheng)(zheng)策(ce)(ce) B. 剩余股(gu)(gu)(gu)利(li)(li)(li)政(zheng)(zheng)(zheng)策(ce)(ce)C. 固(gu)定(ding)股(gu)(gu)(gu)利(li)(li)(li)支付(fu)率政(zheng)(zheng)(zheng)策(ce)(ce)D. 低正常股(gu)(gu)(gu)利(li)(li)(li)加額(e)外股(gu)(gu)(gu)利(li)(li)(li)政(zheng)(zheng)(zheng)策(ce)(ce)二、多(duo)項選(xuan)(xuan)擇題：本(ben)大題共5小題，每(mei)小題2分(fen)，共10分(fen)。在(zai)每(mei)小題列出的(de)(de)(de)備(bei)選(xuan)(xuan)項中至少有(you)兩項是(shi)符合(he)題目要求(qiu)的(de)(de)(de)，請將其(qi)選(xuan)(xuan)出，錯選(xuan)(xuan)、多(duo)選(xuan)(xuan)或少選(xuan)(xuan)均無分(fen)。21. 公(gong)(gong)司(si)(si)財(cai)(cai)務分(fen)析(xi)(xi)的(de)(de)(de)內(nei)(nei)容包括A. 營運能力(li)分(fen)析(xi)(xi)B. 償(chang)債能力(li)分(fen)析(xi)(xi)C.盈利(li)(li)(li)能力(li)分(fen)析(xi)(xi)D. 宏觀政(zheng)(zheng)(zheng)策(ce)(ce)分(fen)析(xi)(xi)E. 綜合(he)財(cai)(cai)務分(fen)析(xi)(xi)浙(zhe)00067#財(cai)(cai)務管(guan)理(li)學試題第3頁(共7頁)

22. 下列(lie)有關盈(ying)(ying)虧(kui)臨(lin)(lin)界(jie)點(dian)的(de)(de)(de)表述，正確的(de)(de)(de)有A. 盈(ying)(ying)虧(kui)臨(lin)(lin)界(jie)點(dian)的(de)(de)(de)銷售(shou)量(liang)(liang)是(shi)保本(ben)銷售(shou)量(liang)(liang)B.盈(ying)(ying)虧(kui)臨(lin)(lin)界(jie)點(dian)是(shi)經營不(bu)盈(ying)(ying)不(bu)虧(kui)的(de)(de)(de)狀態C.在盈(ying)(ying)虧(kui)臨(lin)(lin)界(jie)點(dian)，息(xi)(xi)稅(shui)前(qian)利(li)(li)(li)潤(run)(run)(run)不(bu)為(wei)零D.在盈(ying)(ying)虧(kui)臨(lin)(lin)界(jie)點(dian)，邊際(ji)貢獻總額等于固定(ding)(ding)(ding)成(cheng)本(ben)E.在盈(ying)(ying)虧(kui)臨(lin)(lin)界(jie)點(dian)，變動成(cheng)本(ben)與固定(ding)(ding)(ding)成(cheng)本(ben)之和(he)等于銷售(shou)收(shou)(shou)入(ru)23.某公司現(xian)(xian)有普(pu)通(tong)(tong)股(gu)、長(chang)期(qi)(qi)(qi)債務(wu)(wu)(wu)兩種籌資(zi)(zi)(zi)方式(shi)，每股(gu)收(shou)(shou)益無差異點(dian)的(de)(de)(de)息(xi)(xi)稅(shui)前(qian)利(li)(li)(li)潤(run)(run)(run)為(wei)800萬(wan)元(yuan)，下列(lie)表述正確的(de)(de)(de)有A.預(yu)(yu)期(qi)(qi)(qi)息(xi)(xi)稅(shui)前(qian)利(li)(li)(li)潤(run)(run)(run)低(di)于800萬(wan)元(yuan)時(shi)，應(ying)該采(cai)用(yong)(yong)普(pu)通(tong)(tong)股(gu)籌資(zi)(zi)(zi)B. 預(yu)(yu)期(qi)(qi)(qi)息(xi)(xi)稅(shui)前(qian)利(li)(li)(li)潤(run)(run)(run)低(di)于800萬(wan)元(yuan)時(shi)，應(ying)該采(cai)用(yong)(yong)長(chang)期(qi)(qi)(qi)債務(wu)(wu)(wu)籌資(zi)(zi)(zi)C.預(yu)(yu)期(qi)(qi)(qi)息(xi)(xi)稅(shui)前(qian)利(li)(li)(li)潤(run)(run)(run)高(gao)于800萬(wan)元(yuan)時(shi)，應(ying)該采(cai)用(yong)(yong)普(pu)通(tong)(tong)股(gu)籌資(zi)(zi)(zi)D. 預(yu)(yu)期(qi)(qi)(qi)息(xi)(xi)稅(shui)前(qian)利(li)(li)(li)潤(run)(run)(run)高(gao)于800萬(wan)元(yuan)時(shi)，應(ying)該采(cai)用(yong)(yong)長(chang)期(qi)(qi)(qi)債務(wu)(wu)(wu)籌資(zi)(zi)(zi)E.預(yu)(yu)期(qi)(qi)(qi)息(xi)(xi)稅(shui)前(qian)利(li)(li)(li)潤(run)(run)(run)等于800萬(wan)元(yuan)時(shi)，采(cai)用(yong)(yong)普(pu)通(tong)(tong)股(gu)籌資(zi)(zi)(zi)和(he)長(chang)期(qi)(qi)(qi)債務(wu)(wu)(wu)籌資(zi)(zi)(zi)無差異24.下列(lie)屬于投資(zi)(zi)(zi)項目現(xian)(xian)金(jin)(jin)流出量(liang)(liang)的(de)(de)(de)有A.所得稅(shui)B.墊(dian)支(zhi)(zhi)的(de)(de)(de)營運資(zi)(zi)(zi)本(ben)C.折舊費用(yong)(yong)D. 購建固定(ding)(ding)(ding)資(zi)(zi)(zi)產支(zhi)(zhi)出E.固定(ding)(ding)(ding)資(zi)(zi)(zi)產運輸安裝費用(yong)(yong)25. 影響(xiang)股(gu)利(li)(li)(li)政(zheng)策(ce)制(zhi)定(ding)(ding)(ding)的(de)(de)(de)股(gu)東(dong)因素有A. 債務(wu)(wu)(wu)契約約束 B. 公司投資(zi)(zi)(zi)機會C.股(gu)東(dong)的(de)(de)(de)避稅(shui)要求(qiu)(qiu)D.股(gu)東(dong)對控(kong)(kong)制(zhi)權的(de)(de)(de)要求(qiu)(qiu)E. 股(gu)東(dong)追求(qiu)(qiu)穩(wen)定(ding)(ding)(ding)收(shou)(shou)入(ru)的(de)(de)(de)需求(qiu)(qiu)非選擇題部分注意事項：用(yong)(yong)黑色字跡的(de)(de)(de)簽字筆或鋼(gang)筆將(jiang)答(da)案寫(xie)在答(da)題紙上，不(bu)能答(da)在試題卷上。三、簡(jian)答(da)題：本(ben)大題共(gong)3小(xiao)題，每小(xiao)題5分，共(gong)15分。26. 簡(jian)述年金(jin)(jin)的(de)(de)(de)含義及特點(dian)。27. 簡(jian)述成(cheng)本(ben)性態的(de)(de)(de)含義及其分類。28. 簡(jian)述企業現(xian)(xian)金(jin)(jin)收(shou)(shou)支(zhi)(zhi)內部控(kong)(kong)制(zhi)制(zhi)度包(bao)括的(de)(de)(de)內容。浙00067#財務(wu)(wu)(wu)管理(li)學試題第4頁(共(gong)7頁)

四、計算題：本大題共6小題，任選其中的4小題解答，若解答超過4題，按前4題計分，每小題10分，共40分。計算題可能用到的系數

N	5	6	10	20	21
P/F,8%,n	0.6806	0.6302	0.4632	0.2145	0.1987
F/A,2%,n	5.2040	6.3081	10.9497	24.2974	25.7833
F/A,8%,n	5.8666	7.3359	14.4866	45.7620	50.4229
P/A,8%,n	3.9927	4.6229	6.7101	9.8181	10.0168

29. 甲投資者準備購買一項保險，該保險的交費期限為5年，保險公司給出了兩種交費方式。方式一：5年中每年年初交費10000元；方式二：5年中每季度初交費2600元。假設年利率為8%,按復利計息。要求：(1)分別計算兩種交費方式下所交保險金5年末的終值；(2)分析哪種交費方式對投資者更合算。(注：計算結果保留小數點后兩位數)30. 某公司202X 年現金預算簡表如下表所示。假定公司發生的現金余缺均通過歸還或借入短期借款進行調整，借款利息忽略不計。除表中所列項目外，公司沒有發生其他現金收支業務。要求：根據所給資料，計算下表中用字母表示項目的數額。公司202X 年現金預算簡表 (單位：萬元)

項 目	第1季度	第2季度	第3季度	第4季度
期初現金余額	1000	B	D	2500
本期現金收入	31000	33500	E	36500
本期現金支出	30000	C	37000	40000
現金余缺	A	1000	3000	-1000
取得短期借款		1000		3000
歸還短期借款	500		500
期末現金余額	B	D	2500	2000

浙00067#財(cai)務(wu)管(guan)理(li)學試題第(di)5頁(ye)(共7頁(ye))

31.某公(gong)司(si)(si)上(shang)年(nian)(nian)(nian)(nian)隨(sui)銷(xiao)(xiao)(xiao)售(shou)變(bian)化(hua)的(de)(de)(de)(de)資(zi)(zi)產(chan)為(wei)305萬(wan)(wan)元(yuan)(yuan)(yuan)，隨(sui)銷(xiao)(xiao)(xiao)售(shou)變(bian)化(hua)的(de)(de)(de)(de)負(fu)債(zhai)為(wei)50萬(wan)(wan)元(yuan)(yuan)(yuan)，銷(xiao)(xiao)(xiao)售(shou)收(shou)入為(wei)4000萬(wan)(wan)元(yuan)(yuan)(yuan)，實(shi)現(xian)(xian)凈(jing)(jing)利(li)(li)(li)潤100萬(wan)(wan)元(yuan)(yuan)(yuan)，支(zhi)付(fu)股(gu)(gu)利(li)(li)(li)60萬(wan)(wan)元(yuan)(yuan)(yuan)；假設隨(sui)銷(xiao)(xiao)(xiao)售(shou)變(bian)化(hua)的(de)(de)(de)(de)資(zi)(zi)產(chan)與負(fu)債(zhai)占銷(xiao)(xiao)(xiao)售(shou)收(shou)入的(de)(de)(de)(de)百分比(bi)保持不變(bian)。預計(ji)本(ben)年(nian)(nian)(nian)(nian)銷(xiao)(xiao)(xiao)售(shou)收(shou)入為(wei)5000萬(wan)(wan)元(yuan)(yuan)(yuan)，銷(xiao)(xiao)(xiao)售(shou)凈(jing)(jing)利(li)(li)(li)率(lv)增長(chang)10%,股(gu)(gu)利(li)(li)(li)支(zhi)付(fu)率(lv)與上(shang)年(nian)(nian)(nian)(nian)相同。要(yao)求：(1)計(ji)算(suan)(suan)(suan)上(shang)年(nian)(nian)(nian)(nian)銷(xiao)(xiao)(xiao)售(shou)凈(jing)(jing)利(li)(li)(li)率(lv)、股(gu)(gu)利(li)(li)(li)支(zhi)付(fu)率(lv)；(2)計(ji)算(suan)(suan)(suan)本(ben)年(nian)(nian)(nian)(nian)銷(xiao)(xiao)(xiao)售(shou)凈(jing)(jing)利(li)(li)(li)率(lv)；(3)采用(yong)銷(xiao)(xiao)(xiao)售(shou)百分比(bi)法預測(ce)外(wai)部(bu)籌資(zi)(zi)需求。32.某公(gong)司(si)(si)流通在外(wai)的(de)(de)(de)(de)普通股(gu)(gu)為(wei)5000萬(wan)(wan)股(gu)(gu)，本(ben)年(nian)(nian)(nian)(nian)實(shi)現(xian)(xian)凈(jing)(jing)利(li)(li)(li)潤為(wei)4000萬(wan)(wan)元(yuan)(yuan)(yuan)。公(gong)司(si)(si)的(de)(de)(de)(de)經營杠桿(gan)系數(shu)為(wei)2,財務(wu)杠桿(gan)系數(shu)為(wei)3。假設明年(nian)(nian)(nian)(nian)的(de)(de)(de)(de)銷(xiao)(xiao)(xiao)售(shou)收(shou)入增加5%。要(yao)求：(1)計(ji)算(suan)(suan)(suan)公(gong)司(si)(si)的(de)(de)(de)(de)復合杠桿(gan)系數(shu)；(2)計(ji)算(suan)(suan)(suan)公(gong)司(si)(si)本(ben)年(nian)(nian)(nian)(nian)的(de)(de)(de)(de)每股(gu)(gu)收(shou)益；(3)計(ji)算(suan)(suan)(suan)公(gong)司(si)(si)明年(nian)(nian)(nian)(nian)每股(gu)(gu)收(shou)益變(bian)動率(lv)及每股(gu)(gu)收(shou)益。33.某公(gong)司(si)(si)發(fa)行面值為(wei)1000元(yuan)(yuan)(yuan)的(de)(de)(de)(de)債(zhai)券(quan)(quan)(quan)，票面利(li)(li)(li)率(lv)為(wei)10%,期(qi)限(xian)10年(nian)(nian)(nian)(nian)，每年(nian)(nian)(nian)(nian)年(nian)(nian)(nian)(nian)末付(fu)息(xi)(xi)一次。當前市場利(li)(li)(li)率(lv)為(wei)8%。要(yao)求：(1)計(ji)算(suan)(suan)(suan)每張債(zhai)券(quan)(quan)(quan)每年(nian)(nian)(nian)(nian)支(zhi)付(fu)的(de)(de)(de)(de)利(li)(li)(li)息(xi)(xi)額(e)；(2)計(ji)算(suan)(suan)(suan)債(zhai)券(quan)(quan)(quan)的(de)(de)(de)(de)內在價(jia)值；(3)若債(zhai)券(quan)(quan)(quan)的(de)(de)(de)(de)發(fa)行價(jia)格為(wei)1050元(yuan)(yuan)(yuan)，判斷可(ke)否對該(gai)債(zhai)券(quan)(quan)(quan)進行投資(zi)(zi)?34.某項目期(qi)初固定資(zi)(zi)產(chan)投資(zi)(zi)100000元(yuan)(yuan)(yuan)，壽命(ming)期(qi)為(wei)5年(nian)(nian)(nian)(nian)，采用(yong)直線法提取折舊，5年(nian)(nian)(nian)(nian)后固定資(zi)(zi)產(chan)殘值5000元(yuan)(yuan)(yuan)。該(gai)項目5年(nian)(nian)(nian)(nian)中每年(nian)(nian)(nian)(nian)的(de)(de)(de)(de)營業收(shou)入為(wei)60000元(yuan)(yuan)(yuan)，每年(nian)(nian)(nian)(nian)的(de)(de)(de)(de)付(fu)現(xian)(xian)成本(ben)為(wei)20000元(yuan)(yuan)(yuan)。公(gong)司(si)(si)要(yao)求的(de)(de)(de)(de)最低(di)報酬率(lv)為(wei)8%,公(gong)司(si)(si)所得(de)稅(shui)稅(shui)率(lv)為(wei)25%。要(yao)求：(1)計(ji)算(suan)(suan)(suan)固定資(zi)(zi)產(chan)年(nian)(nian)(nian)(nian)折舊額(e)；(2)計(ji)算(suan)(suan)(suan)年(nian)(nian)(nian)(nian)營業現(xian)(xian)金凈(jing)(jing)流量；(3)計(ji)算(suan)(suan)(suan)項目凈(jing)(jing)現(xian)(xian)值，根據凈(jing)(jing)現(xian)(xian)值判斷項目的(de)(de)(de)(de)可(ke)行性。(注(zhu)：計(ji)算(suan)(suan)(suan)結果保留小數(shu)點后兩位數(shu))浙00067#財務(wu)管理學試題第6頁(共(gong)7頁)

五、案例分析題：本題15分。35.案例材料：化學專業畢業的研究生小王發明了一項特種化學添加劑配方并申請了專利，經過論證，該配方如果投入生產會產生較好的經濟效益。小王以該專利作價100萬元入股與另外4名投資者投資設立了甲公司，4名投資者共投入現金400萬元，公司注冊資本500萬元。公司成立后，將資金用于購買設備等長期資產。公司臨時的資本短缺主要通過短期借款來解決，材料采購采用賒購方式進行。公司運營良好，在第一年盈虧平衡的基礎上，第二年實現稅后利潤100萬元。股東們一致建議將100萬元的盈利全部分配現金股利。結合案例材料，回答下列問題：(1)案例中涉及到的公司財務管理內容有哪些?(6分)(2)案例中涉及的短期籌資方式有哪幾種?(6分)(3)公司是否可以將100萬元的稅后利潤全部分配現金股利，并說明理由。(3分)