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Cherry · 2021年10月28日

Account receivable 难道不是现金等价物吗？

  1. CFA II
  2. Equity

* 问题详情，请 查看题干

NO.PZ201612170200000304

问题如下：

4. Based on Exhibit 2, the multiple of enterprise value to sales for Centralino as of 31 December 2014 is closest to:

选项：

A.

0.67.

B.

0.74.

C.

0.77.

解释：

C is correct. Enterprise value (EV) is calculated as follows: EV = Market value of common equity + Market value of preferred stock + Market value of debt – Cash, cash equivalents, and short-term investments

= (€50 × 41.94 million) + (€5.25 × 16.00 million) + €367 – €102

= €2,446 million (or €2.446 billion).

So, EV/Sales = €2.446 billion/€3.182 billion = 0.77.

Account receivable 难道不是现金等价物吗？

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1 个答案

王园圆_品职助教 · 2021年10月28日

嗨，努力学习的PZer你好：


同学你好，不是哦·～～现金及现金等价物是单独列支的一个科目，其他所有的流动资产都和该科目不等价哦～～

而且，应收账款并没有现金一样的变现能力，如果企业要把应收账款快速变成现金，就需要去银行贴现或者是折价卖给其他机构，需要时间并且收回金额会打折。所以不是现金等价物哦～～

----------------------------------------------
虽然现在很辛苦，但努力过的感觉真的很好，加油！

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NO.PZ201612170200000304 问题如下 4. Baseon Exhibit 2, the multiple of enterprise value to sales for Centralino of 31 cember 2014 is closest to: A.0.67. B.0.74. C.0.77. C is correct. Enterprise value (EV) is calculatefollows: EV = Market value of common equity + Market value of preferresto+ Market value of – Cash, cash equivalents, anshort-term investments = (€50 × 41.94 million) + (€5.25 × 16.00 million) + €367 – €102 = €2,446 million (or €2.446 billion). So, EV/Sales = €2.446 billion/€3.182 billion = 0.77. rt

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