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[CFA考试] 一级FSA求问 [推广有奖]

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楼主
uibekid 发表于 2010-5-31 16:25:59 |AI写论文

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47


Assume U.S. GAAP (generally accepted accounting principles) applies unless otherwise noted.




An analyst gathered the following information for a company:




Ratios


2005


2004


2003






Inventory turnover


5


6


7






Total asset turnover


6


5


3






Accounts payable turnover


9


9


8






Accounts receivable turnover


11


12


15








All other factors being equal, which of the following is the best conclusion with respect to the information above? From 2003 to 2005, the company's:










A. fixed asset turnover increased.














B. credit policies became more strict.














C. cash conversion cycle became shorter.














D. average inventory processing time decreased.










答案:
D.inventory turnover is lower means processing time increased.
C.$conversion cycle2003=365/7+365/15-365/8 <
$conversion cycle2005=365/5+365/11-365/9.
A. can't get this conclusion.
B.AR turnover is lower,one reason is less AR in 2005, maybe caused by more strict credit policies.



答案选B,问题:AR turn over变小,days of sales outstanding变大不是说明loose credit policy嘛?求解
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关键词:FSA information outstanding conversion Conclusion FSA

沙发
KuDaTa 发表于 2010-5-31 16:53:43
回答你的问题,没看答案: AR turnover 和days of sales outstanding 是倒数再乘以365的关系吧, 看题目AR turnover变小趋势说明AR应该是变大吧?

另外,AR变小days of sales outstanding应该也变小吧?

答案是什么呀?

藤椅
uibekid 发表于 2010-5-31 17:36:55
回楼上,是AR turn over变小,days of sales outstanding变大,打错了,已编辑,谢谢解答

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