问一道题：NO.PZ201512300100001004 第4小题 [ CFA II ]

NO.PZ201512300100001004 问题如下 4. Holt’s FCFE (in millions) for 2008 is closest to: A.$175. B.$250. C.$364. B is correct.FCFE = NI + N- FCInv- WCInv + Net borrowing. In this case:NI = $485 millionN= preciation expense = $270 millionFCInv = Net purchase of fixeassets = Increase in gross fixessets= 4,275 -3,752 = $523 millionWCInv = Increase in accounts receivable + Increase inInventory-Increase in accounts payable Increasein accrueliabilities= ( 770-711 ) + ( 846-780 ) - ( 476-443 ) - ( 149-114 )= $57 millionNet borrowing = Increase in notes payable + Increase in long-term bt= ( 465-450 ) + ( 1,575-1,515 ) = $75 millionFCFE = 485 + 270 - 523 - 57 + 75 = $250 millionalternative calculation isFCFE = FCFF -Int(1-Trate) + Net borrowingFCFE = 307.6 - 195(1-0.32) + (15 +60) = $250 million alternative calculation isFCFE = FCFF -Int(1-Trate) + Net borrowingFCFE = 307.6 - 195(1-0.32) + (15 +60) = $250 million307.6 没有看到题中有给 FCFF 值啊？

NO.PZ201512300100001004问题如下4. Holt’s FCFE (in millions) for 2008 is closest to:A.$175.B.$250.C.$364.B is correct.FCFE = NI + N- FCInv- WCInv + Net borrowing. In this case:NI = $485 millionN= preciation expense = $270 millionFCInv = Net purchase of fixeassets = Increase in gross fixessets= 4,275 -3,752 = $523 millionWCInv = Increase in accounts receivable + Increase inInventory-Increase in accounts payable Increasein accrueliabilities= ( 770-711 ) + ( 846-780 ) - ( 476-443 ) - ( 149-114 )= $57 millionNet borrowing = Increase in notes payable + Increase in long-term bt= ( 465-450 ) + ( 1,575-1,515 ) = $75 millionFCFE = 485 + 270 - 523 - 57 + 75 = $250 millionalternative calculation isFCFE = FCFF -Int(1-Trate) + Net borrowingFCFE = 307.6 - 195(1-0.32) + (15 +60) = $250 million是因为应付账款和应付税费已经考虑在Woriking CapitInvestment 中，所以不在N.B.中反映吗？

NO.PZ201512300100001004 请问short term 和repayment ，long term ,long term repaymant在这门课里涉及的经常考的科目是什么？

NO.PZ201512300100001004 所以以后计算short term bt可以直接当成是notes payable吗