开发者:上海品职教育科技有限公司 隐私政策详情

应用版本:4.2.11(IOS)|3.2.5(安卓)APP下载

DDDJT · 2023年05月07日

可是长期债务的利息不是一般比短期利息高吗?那financial leveage 不应该增加?

NO.PZ2022090802000013

问题如下:

Which of the following is most likely to increase financial leverage?

选项:

A.Cutting prices B.Replacing short-term debt with long-term debt C.Entering a sale-leaseback transaction for the company's head office building

解释:

Solution

C is correct. Entering a sale–leaseback transaction for the company's head office building increases financial leverage. The company sells assets with the obligation to repurchase the assets in the future as well as make lease payments. These transactions increase its financial leverage. Additionally, sale and leaseback transactions reduce the business's overall asset base, which, in turn, reduces its ability to add more debt should the company need to raise debt.

A is incorrect. Cutting prices reduces the profit margin for the business, thereby increasing operating leverage.

B is incorrect. Replacing short-term debt with long-term debt does not change financial leverage: Debt, irrespective of maturity, is simply debt.

可是长期债务的利息不是一般比短期利息高吗?那financial leveage 不应该增加?

2 个答案

王琛_品职助教 · 2023年08月28日

嗨,从没放弃的小努力你好:


@x1x1

B项解释有点牵强啊,这种有争议的题要不修改一下要不删了吧 

这道题是第三章的课后题第 13 题

关于备考建议,我们也有建议同学:关于 DOL,DFL,DTL 等内容,以第八章杠杆衡量章节的考查角度为准哈

----------------------------------------------
就算太阳没有迎着我们而来,我们正在朝着它而去,加油!

王琛_品职助教 · 2023年05月08日

嗨,爱思考的PZer你好:


同学的考虑是合理的,从利息的多少角度考虑,确实存在同学所说的现象

只不过从出题人的角度出发,想考查的是考生对 D/E 比例的理解

选项 B 将短期债替换为长期债,可以理解为是 D 内部的细项变化,不影响 D 的总量,所以不影响 D/E 比例

所以选项 B 虽然涉及的是财务杠杆,但不符合题意

因为题目要选的是「增加」财务杠杆的选项,而选项 B 的结论是财务杠杆「不变」

----------------------------------------------
就算太阳没有迎着我们而来,我们正在朝着它而去,加油!

x1x1 · 2023年08月25日

B项解释有点牵强啊,这种有争议的题要不修改一下要不删了吧

  • 2

    回答
  • 0

    关注
  • 482

    浏览
相关问题

NO.PZ2022090802000013 问题如下 Whiof the following is most likely to increase financileverage? A.Cutting prices B.Replacing short-term with long-term C.Entering a sale-leasebatransaction for the company's heoffibuilng SolutionC is correct. Entering a sale–leasebatransaction for the company's heoffibuilng increases financileverage. The company sells assets with the obligation to repurchase the assets in the future well make lease payments. These transactions increase its financileverage. Aitionally, sale anleasebatransactions rethe business's overall asset base, which, in turn, reces its ability to a more shoulthe company neeto raise bt. A is incorrect. Cutting prices reces the profit margin for the business, thereincreasing operating leverage. B is incorrect. Replacing short-term with long-term es not change financileverage: bt, irrespective of maturity, is simply bt. 价格下降,会影响到NI吧,既然影响NI,为什么不能算财务杠杆呢

2023-08-17 19:02 1 · 回答

NO.PZ2022090802000013 问题如下 Whiof the following is most likely to increase financileverage? A.Cutting prices B.Replacing short-term with long-term C.Entering a sale-leasebatransaction for the company's heoffibuilng SolutionC is correct. Entering a sale–leasebatransaction for the company's heoffibuilng increases financileverage. The company sells assets with the obligation to repurchase the assets in the future well make lease payments. These transactions increase its financileverage. Aitionally, sale anleasebatransactions rethe business's overall asset base, which, in turn, reces its ability to a more shoulthe company neeto raise bt. A is incorrect. Cutting prices reces the profit margin for the business, thereincreasing operating leverage. B is incorrect. Replacing short-term with long-term es not change financileverage: bt, irrespective of maturity, is simply bt. AL本身大于1,那么降低价格就是分子分母同时减少相同的数,那么L不是也会增加吗?

2023-08-15 21:22 1 · 回答

NO.PZ2022090802000013 问题如下 Whiof the following is most likely to increase financileverage? A.Cutting prices B.Replacing short-term with long-term C.Entering a sale-leasebatransaction for the company's heoffibuilng SolutionC is correct. Entering a sale–leasebatransaction for the company's heoffibuilng increases financileverage. The company sells assets with the obligation to repurchase the assets in the future well make lease payments. These transactions increase its financileverage. Aitionally, sale anleasebatransactions rethe business's overall asset base, which, in turn, reces its ability to a more shoulthe company neeto raise bt. Cutting prices reces the profit margin for the business, thereincreasing operating leverage. Replacing short-term with long-term es not change financileverage: bt, irrespective of maturity, is simply bt. Whiof the following is most likely to increase financileverage?ACutting pricesB不正确Replacing short-term with long-term btCEntering a sale-leasebatransaction for the company's heoffibuilng

2023-04-18 22:06 1 · 回答

NO.PZ2022090802000013 问题如下 Whiof the following is most likely to increase financileverage? A.Cutting prices B.Replacing short-term with long-term C.Entering a sale-leasebatransaction for the company's heoffibuilng SolutionC is correct. Entering a sale–leasebatransaction for the company's heoffibuilng increases financileverage. The company sells assets with the obligation to repurchase the assets in the future well make lease payments. These transactions increase its financileverage. Aitionally, sale anleasebatransactions rethe business's overall asset base, which, in turn, reces its ability to a more shoulthe company neeto raise bt. Cutting prices reces the profit margin for the business, thereincreasing operating leverage. Replacing short-term with long-term es not change financileverage: bt, irrespective of maturity, is simply bt. 什么是c说的售后回租交易

2022-12-25 03:38 1 · 回答