WorksheetsTCCT PART 1
Total questions: 20
Worksheet time: 20mins
The duration between acquiring inventory and receiving payment from customers after sales is known as the:
(Khoảng thời gian giữa lúc mua hàng tồn kho và lúc nhận được thanh toán từ khách hàng sau khi bán hàng được gọi là:)
operating cycle
accounts payable period
inventory period
accounts receivable period
Which statement about depreciation within capital budgeting practices is accurate?
(Câu nào sau đây là chính xác về khấu hao trong hoạt động lập ngân sách vốn?)
Depreciation reduces taxable income and thereby enhances cash flows through tax savings
Depreciation is irrelevant for investment decisions since it does not involve cash movement
Depreciation should be disregarded in all forms of investment analysis
Depreciation represents a direct expenditure that decreases available cash
A firm is said to be highly levered when:
(Một công ty được cho là có đòn bẩy tài chính cao khi:)
It retains a high percentage of annual earnings
It relies extensively on debt to finance operations
Its equity significantly exceeds its total liabilities
It has a large proportion of short-term assets
By definition, which of the following is equal to zero at the accounting break-even point?
(Theo định nghĩa, số nào sau đây bằng 0 tại điểm hòa vốn kế toán?)
internal rate of return
contribution margin
net present value
net income
Which of the following best describes the use of WACC in capital budgeting?
(Câu nào sau đây mô tả tốt nhất việc sử dụng WACC trong lập ngân sách vốn?)
It is used as the discount rate for evaluating potential projects
It reflects the firm’s liquidity management efficiency
It measures the tax burden on equity distributions
It estimates the firm’s break-even operating cycle
Which of the following statements about unsystematic risk is true?
(Câu nào sau đây về rủi ro phi hệ thống là đúng?)
It can be mitigated through adequate diversification strategies
It is impossible to quantify accurately
It impacts all entities operating within a given economy
It remains constant across time and conditions
What is a consequence of increased use of financial leverage in a firm’s capital structure?
(Hậu quả của việc tăng cường sử dụng đòn bẩy tài chính trong cơ cấu vốn của công ty là gì?)
It amplifies volatility in earnings per share as debt obligations increase
It enables the firm to operate independently of retained earnings
It minimizes exposure to debt-servicing liabilities during downturns
It ensures stable shareholder returns irrespective of economic conditions
What is the primary function of the Capital Asset Pricing Model (CAPM) in investment analysis?
(Chức năng chính của Mô hình định giá tài sản vốn (CAPM) trong phân tích đầu tư là gì?)
To calculate the expected return on an asset based on its exposure to market risk
To project the future valuation of a publicly traded equity instrument
To assess the historical book value of tangible and intangible assets held by a firm
To determine the aggregate economic value of a corporation’s equity and debt
According to the stand-alone principle, which statement best reflects its implication in capital budgeting?
(Theo nguyên tắc độc lập, câu nào phản ánh tốt nhất ý nghĩa của nó trong việc lập ngân sách vốn?)
A project’s influence should be assessed in the context of the company’s overall operations
Projects are accepted only if they demonstrate a positive net present value (NPV)
All fixed costs must be incorporated into investment evaluations
A project’s viability can be judged independently by analyzing only its specific incremental cash flows
War, inflation, and global economic instability are all examples of:
(Chiến tranh, lạm phát và bất ổn kinh tế toàn cầu đều là những ví dụ về:)
business-specific risk
internal operational risk
unsystematic risk
nondiversifiable risk
Which of the following represents a flotation cost?
Trong các khoản sau đây, khoản nào biểu thị chi phí phát hành?
Monthly rental payments for office property
Expenses incurred from promoting a newly released product
Legal and administrative expenses tied to issuing new financial instruments
Costs associated with restocking inventory at a new business site
What is the primary reason why equity financing is generally more expensive than debt financing for a firm?
Lý do chính khiến cho việc tài trợ bằng vốn chủ sở hữu thường đắt hơn tài trợ bằng nợ đối với một công ty là gì?
Equity holders have lower return expectations
Equity does not require periodic payments
Equity entails greater financial risk for investors
Debt interest is not tax deductible
The value additivity principle in investment evaluation suggests that:
Nguyên tắc gia tăng giá trị trong đánh giá đầu tư cho thấy rằng:
A project’s risk is not affected by the broader risk profile of the firm
A project is viable only if its revenue surpasses previously incurred costs
Capital investments are optimally evaluated through net income analysis
The firm’s total valuation equals the sum of the valuations of its separate projects
Which of the following factors would directly increase a firm's weighted average cost of capital (WACC), assuming all other variables remain constant?
Yếu tố nào sau đây sẽ trực tiếp làm tăng chi phí vốn bình quân gia quyền (WACC) của một công ty, giả sử tất cả các biến số khác không đổi?
An increase in the required return on equity
Issuing debt at a lower coupon rate
An increase in the firm’s marginal tax rate
A higher proportion of debt in the capital structure
Which of the following accurately describes the effect of increasing debt in a firm’s capital structure, assuming the Modigliani and Miller framework with taxes?
Câu nào sau đây mô tả chính xác tác động của việc tăng nợ trong cơ cấu vốn của một công ty, giả sử áp dụng khuôn khổ Modigliani và Miller có thuế?
The firm reduces its financial leverage
The firm benefits from a greater interest tax shield
The firm’s total value decreases
The cost of equity remains unchanged
When an individual uses personal borrowing to adjust their exposure to financial leverage, this strategy is known as:
Khi một cá nhân sử dụng khoản vay cá nhân để điều chỉnh mức độ tiếp xúc với đòn bẩy tài chính, chiến lược này được gọi là:
homemade leverage
restructured leverage
restructured private debt
the weighted average cost of capital
Campbell Co. is calculating its weighted average cost of capital (WACC). Which of the following statements is most accurate?
Campbell Co. đang tính toán chi phí vốn trung bình có trọng số (WACC). Câu nào sau đây là chính xác nhất?
Both statements A and C are accurate.
Since retained earnings are readily accessible, their cost is usually below that of debt financing.
The after-tax cost of debt typically remains lower than the after-tax cost of equity.
The after-tax cost of debt is usually higher than its corresponding pre-tax value.
What does the concept of financial leverage refer to?
Khái niệm đòn bẩy tài chính ám chỉ điều gì?
A cost structure strategy where variable costs dominate to increase flexibility
Utilizing borrowed funds to increase the sensitivity of EPS to changes in EBIT
Structural realignment of fixed and variable expenses to maximize net margins
Revenue enhancement primarily through price optimization techniques
Assuming a firm’s current ratio exceeds 1.0, which of the following activities would reduce its net working capital?
Giả sử tỷ lệ hiện tại của một công ty vượt quá 1,0, hoạt động nào sau đây sẽ làm giảm vốn lưu động ròng của công ty?
Enhancing liquidity via customer receivables collection
Disposing of long-term assets at their accounting value
Reducing liabilities through the payment of long-term financial obligations
Liquidating inventory positions without generating profit
The component of equity risk that results from a firm's core business operations is known as:
Thành phần rủi ro vốn chủ sở hữu phát sinh từ hoạt động kinh doanh cốt lõi của công ty được gọi là:
business risk
unsystematic risk
market risk
systematic risk
