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FECT-1考试单选题练习(4)

2009-07-17 13:55

  1. When a country runs a foreign trade deficit under a flexible foreign exchange rate system, its .

  A. imports automatically increase
  B. currency automatically depreciates
  C. exports automatically decline
  D. currency automatically appreciates

  2. Which of the following statements is not true of accounting? ______.
  A. Accounting is language of business
  B. The user of accounting includes business, government, nonprofit organizations and individuals.
  C. Accounting is useful for decision making
  D. Accounting is an end rather than a means to an end

  3. The term foreign exchange is best defined by the following statement: it is ______.
  A. the rate of exchange between two currencies
  B. synonymous with currency exchange
  C. the place in which foreign currencies are exchanged
  D. an instrument such as paper currency, note, and check used to make payments between countries

  4. What is Asset Allocation? ______.
  A. Buying assets of different types, risks, and potential returns
  B. Buying assets with more than one brokerage account
  C. The ability to buy mutual funds
  D. Buying stocks for the long term

  5. External users of financial accounting information include all of the following except .
  A. suppliers
  B. line managers
  C. general public
  D. creditors

  6. CAPM is short for .
  A. Capital Asset Pricing Model
  B. Cash Added Price Matrix
  C. Capital Asset Pricing Matrix
  D. Cost and Price Model

  7. Liquidity measures the ______.
  A. value of an asset
  B. ease with which an asset can be exchanged
  C. usefulness of an asset
  D. economic and monetary reliability of an asset compared with other assets

  8. In a letter of credit transaction, the bank pays the seller against ______ which agree(s) with______.
  A. documents... the credit
  B. merchandise... the contract
  C. documents... the contract
  D. merchandise...the buyer ordered

  9. A barter economy is one that does not possess _______.
  A. any wealth
  B. printed currency
  C. a medium of exchange
  D. gold

  10. Which of the following is not true of airway bill? ______.
  A. When goods are delivered to the airline, the airway bill is signed by them or their agents as a receipt of the goods
  B. Airway bill is a document of title to the goods
  C. Airway bill may also provide evidence of despatch of the goods where it has been stamped indicating details of the relevant flight
  D. None of the above

  11. The value of money varies _____.
  A. directly with the unemployment rate
  B. directly with the price level
  C. inversely with the unemployment
  D. inversely with the price level

  12. The economics news on the television reports that the dollar has strengthened relative to the Japanese yen. This means that ______.
  A. the dollar has depreciated relative to the yen
  B. the dollar can now purchase more yen
  C. the yen can now purchase more dollars
  D. the US trade balance with the Japanese economy has improved

  13. The theory of international exchange that holds that exchange rates are set so that the price of similar goods in different countries is the same is the ______.
  A. price feedback theory
  B. trade feedback theory
  C. purchasing power parity theory
  D. J-curve theory

  14. According to the optimal portfolio theory, where should portfolios lie? ______.
  A. On the efficient frontier
  B. Above the efficient frontier
  C. Under the efficient frontier
  D. Anywhere, as long as the portfolio is diversified

  15. Which of the following is not a user of management accounting information? ______.
  A. Store manager
  B. Creditor
  C. CEO
  D. CFO

  16. Based on the scenarios below, what is the expected return for a portfolio with the following return profile? ______.
  Market Condition
  bear Normal Bull
  Probability 02 0.3 05
  Rate of return —25% 10% 24%
  A. 4%
  B. 10%
  C. 20%
  D. 25%

  Use the following expectations on Stocks X and Y to answer questions 17 through 19 (round to the nearest percent).
  Bear Market Normal Market Bull Market
  Probability 0.2 0.5 0.3
  Stock X_ -20% 18% 50%
  Stock Y -15% 20% 10%

  17. Financial markets serve to channel funds from ______.
  A. the government to contractors
  B. investors to consumers
  C. consumers to producers
  D. savers to investors

  18. The agreements that were reached at the Bretton Woods conference in 1944 established a system .
  A. of essentially fixed exchange rates under which each country agreed to intervene in the foreign exchange market when necessary to maintain the agreed-upon value of its currency
  B. of floating exchange rates determined by the supply and demand of one nation's currency relative to the currency of other nations
  C. that prohibited governments from intervening in the foreign exchange markets
  D. in which the values of currencies were fixed in terms of a specific number of ounces of gold, which in turn determined their values in international trading

  19. Which of the following statements is not consistent with generally accepted accounting principles relating to asset valuation? .
  A. Assets are originally recorded in accounting records at their cost to the business entity
  B. Accountants prefer to base the valuation of assets upon objective, verifiable evidence rather than upon appraisals or personal opinion
  C. Accountants assume that assets such as office supplies, land and buildings will be used in business operations rather than sold at current market prices
  D. Subtracting total liabilities from total assets indicates what the owner's equity in the business is worth under current market conditions

  20. A fiscal expansion in the UK ______ the pound sterling.
  A. tends to appreciate
  B. tends to depreciate
  C. does not affect the price of
  D. has no predictable effect on the price of

  答案:

  1.B 2.D 3.D 4.A 5.B 6.A 7.B 8.A 9.C 10.B
  11.D 12.B 13.C 14.A 15.B 16.B 17.A 18.A 19.D 20.A

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