TCCT PART 1

The duration between acquiring inventory and receiving payment from customers after sales is known as the:

(Khoảng thời gian giữa lúc mua hàng tồn kho và lúc nhận được thanh toán từ khách hàng sau khi bán hàng được gọi là:)

• operating cycle

• accounts payable period

• inventory period

• accounts receivable period

Which statement about depreciation within capital budgeting practices is accurate?

(Câu nào sau đây là chính xác về khấu hao trong hoạt động lập ngân sách vốn?)

• Depreciation reduces taxable income and thereby enhances cash flows through tax savings

• Depreciation is irrelevant for investment decisions since it does not involve cash movement

• Depreciation should be disregarded in all forms of investment analysis

• Depreciation represents a direct expenditure that decreases available cash

A firm is said to be highly levered when:

(Một công ty được cho là có đòn bẩy tài chính cao khi:)

• It retains a high percentage of annual earnings

• It relies extensively on debt to finance operations

• Its equity significantly exceeds its total liabilities

• It has a large proportion of short-term assets

By definition, which of the following is equal to zero at the accounting break-even point?

(Theo định nghĩa, số nào sau đây bằng 0 tại điểm hòa vốn kế toán?)

• internal rate of return

• contribution margin

• net present value

• net income

Which of the following best describes the use of WACC in capital budgeting?

(Câu nào sau đây mô tả tốt nhất việc sử dụng WACC trong lập ngân sách vốn?)

• It is used as the discount rate for evaluating potential projects

• It reflects the firm’s liquidity management efficiency

• It measures the tax burden on equity distributions

• It estimates the firm’s break-even operating cycle

Which of the following statements about unsystematic risk is true?

(Câu nào sau đây về rủi ro phi hệ thống là đúng?)

• It can be mitigated through adequate diversification strategies

• It is impossible to quantify accurately

• It impacts all entities operating within a given economy

• It remains constant across time and conditions

What is a consequence of increased use of financial leverage in a firm’s capital structure?

(Hậu quả của việc tăng cường sử dụng đòn bẩy tài chính trong cơ cấu vốn của công ty là gì?)

• It amplifies volatility in earnings per share as debt obligations increase

• It enables the firm to operate independently of retained earnings

• It minimizes exposure to debt-servicing liabilities during downturns

• It ensures stable shareholder returns irrespective of economic conditions

What is the primary function of the Capital Asset Pricing Model (CAPM) in investment analysis?

(Chức năng chính của Mô hình định giá tài sản vốn (CAPM) trong phân tích đầu tư là gì?)

• To calculate the expected return on an asset based on its exposure to market risk

• To project the future valuation of a publicly traded equity instrument

• To assess the historical book value of tangible and intangible assets held by a firm

• To determine the aggregate economic value of a corporation’s equity and debt

According to the stand-alone principle, which statement best reflects its implication in capital budgeting?

(Theo nguyên tắc độc lập, câu nào phản ánh tốt nhất ý nghĩa của nó trong việc lập ngân sách vốn?)

• A project’s influence should be assessed in the context of the company’s overall operations

• Projects are accepted only if they demonstrate a positive net present value (NPV)

• All fixed costs must be incorporated into investment evaluations

• A project’s viability can be judged independently by analyzing only its specific incremental cash flows

War, inflation, and global economic instability are all examples of:

(Chiến tranh, lạm phát và bất ổn kinh tế toàn cầu đều là những ví dụ về:)

• business-specific risk

• internal operational risk

• unsystematic risk

• nondiversifiable risk