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2023年最新のの問題CMA-Strategic-Financial-Management問題集で更新されたIMA試験問題集を試そう
質問 36
Explain two potential benefits for Guda if it acquires Blue Moon.
Essay
Food Depot Ltd, (FDL) is a privately-held company that provides catering services to airlines and operates several restaurant chains including fast food, casual dining, and fine dining restaurants, FDL has been profitable in recent years and has a very strong cash position. FDL's newest division. Food_TO-Go is an online meal ordering and delivery platform acquired by FDL two year ago.
In 20X7, sales for the entire company were $1 billion, with 50% of the business coming from the Airline Catering division. FDL is the country 's leading airline catering services provider and control 60% of the market share. However, the outlook of the airline catering industry is gloomy. The compound annual growth rate of the industry for the past five years was only 0.5% as airline networks have increasingly dropped catering on short domestic flights.
The Food-To-division only contribution 5% of FDL's total sales in 20X7 and is far behind in competing for marketing for market share of the online meal ordering and delivery industry, it is estimated that Food-To-Go's sales were only 20% of the industry leader's sales. However, the outlook for the online meal ordering and delivery services industry is bright. The compound annual growth rate of the industry since it started three years ago was 50%. It is estimated the rapid growth of the industry will continue in the foreseeable future.
Susan Willey, the head of Food-To-Go, does not agree that the Airline Catering division is the best-performing division in the company. Wiley argues that ber division bad the highest ROI in 20X7, and it deserves more capital finding. FDL's requested rate of return is 12%. The selected financial data for the Airline Catering division and Food-To-Go division in 20X7 are as follow (in $ millions)
正解:
解説:
See the explanation for the answer.
Explanation
They will get stability in their earnings and cash flows as the current sources of income is facing a declining trend and no growth and in maturity stage. The unsystem risk can also be diversified by investing in a different industry, hence lower cost of capital for the company.
質問 37
A company manufactures two products Product X and Product Y, during a joint process Product Y canoe processed further to create Product Z Relevant data are shown below.
- A. Product y should not be processed further because an additional S35 000 loss can be achieved by processing further
- B. Product Y should be processed further because me selling once of Product Z Is higher than Product Y
- C. Product Y should be processed further because an additional $45,000 prof* can be achieved by processing further
- D. Product Y should he processed further because an additional S5.000 profit can be achieved by processing further
正解: D
質問 38
A management accountant overheard the company's procurement manager discussing a kickback payment for one of the company s recent projects. The procurement manager promised to pay a share to the other person II the arrangement was kept confidential According to the IMA Statement of Ethical Professional Practice which one of the following is the most appropriate action for the management accountant to take?
- A. Call the company's ethics helpline and report the matter anonymously
- B. Take no action since the incident is not related to the accounting department
- C. Discuss the incident with his or her own attorney and consider disassociating from the company
- D. Report the information directly to a nigh-level company executive since it is a serious matter
正解: D
質問 39
Genco Healthcare has asked ns controller to summarize the company's financial performance for the past two years. The accountant provided the following two years financial ratios for reference.
- A. Less liquid mote profitable less solvent
- B. Less liquid mote profitable more solvent
- C. More liquid, less profitable mote solvent
- D. More Liquid Less profitable less solvent
正解: A
質問 40
A co league claims that morality is usually perceived and interpreted differently by different people so there is no method to judge whether one decision is better than another. This is commonly referred to as
- A. comparative ethics
- B. moral relativism
- C. ethical relativity
- D. moral philosophy
正解: B
質問 41
LMN Ltd, a British firm, has a financial covenant with its bank mat interest coverage based on earnings before interest taxes, depreciation, and amortization (EBITDA), must be at least 2.5 for each quarter Shown below are summary financial data.
An expected decline m sales will result In net Income of £ 1.500.000 The other elements of EBITDA will be similar to the most recently completed Quarter Given the above information, what is the ratio for the latest completed quarter and do the forecasted results meet the required covenant?
- A. 2.50. and will not be compliant in the next quartet
- B. 2.59. and will be compliant in the next quarter
- C. 1.31. and will not be compliant in the next quarter
- D. 2.69 and will not be compliant in the next quarter
正解: D
質問 42
Selected data for Bittner, inc is shown below (in thousands)
- A. 4727%
- B. 52.25%
- C. 52.73%
- D. 47.75%
正解: A
質問 43
A company plans to purchase equipment for $110 000. The equipment is expected to generate an annual cash flow o( $44 500 (of the next three years The company has a predetermined hurdle rate of 9% Using the internal rate of return (IRR). should the company purchase this equipment?
- A. No, the IRR is less than the hurdle rate
- B. No, the IRR is greater than the hurdle rate
- C. Yes, the IRR is greater than the hurdle rate
- D. Yes, the IRR is less than the hurdle rate
正解: C
質問 44
A company with idle capacity has been contacted by a new customer to supply 10,000 units of its products for a special batch order its costs are as follows.
The company's normal soling price is SI00 per unit but the customer is wiling to pay only S70 pet unit Should the company accept the special order''
- A. No, because the special order will reduce operating profit by $250 000
- B. Yes, because the special order will increase operating profit by S250 000
- C. No, because the special order will reduce operating profit by S50 000
- D. Yes, because the special order will increase operating profit by S100 000
正解: C
質問 45
Which one of the following statements regarding portfolio diversification is not correct?
- A. A well diversified portfolio can minimize unsystematic risk
- B. The standard deviation of a well diversified portfolio's percentage returns should be approximately equal to the standard deviation of the entire stock market's percentage returns.
- C. A well diversified portfolio can eliminate systematic risk.
- D. A well diversified portfolio should include individual stock investments having a balance of positive and negative betas.
正解: C
質問 46
Discuss whether the demand for OLI's new business English course is elastic and explain how OLI can use this information in determining the product price.
Essay
Online Learning Inc. lOLI) is a privately-held company based in the IUC that specializes in providing online courses in English as a Second Language (ESL). OLI is trying to set up a new sales office in a foreign country.
It needs a business license to operate in that country. The license normally lakes six months to obtain. An official of that country said that he could expedite the process for a fee of €300.
OLI estimates the new sales office can bring €300,000 incremental profit annually OLI has just launched a new online 40-houi course to help adult ESL learners master basic business English. The price of the new course is €500 per student, the variable cost is €300 per student, and the total fixed cost of the new course is
€300.000 per year OLI spent €200.000 to develop the new course before launching it. There are many online course providers in the marketplace, and each has its own feature However, OLI's highly qualified staff and good reputation have enabled it to charge a premium price compared to its major competitors. Recent market research indicates that if OLI raises the price of its new business English course by 10V the student enrollment would decrease by 5V A regional airlines company in Asia has approached OLI and offered to enroll 1.000 of its employees in the new course if OLI would agree to a special price of €350 per employee If OLI accepts this offer, an additional €10,000 onetime cost would be required to temporally expand its capacity to accommodate the new students.
正解:
解説:
See the explanation for the answer.
Explanation
it's in elastic and me percentage change in price is greater than the percentage change in the demand. A profile maximizing price where the marginal revenue is equal to marginal cost would be recommendable in this scenario.
質問 47
The Transformer Division of Keller Electrical Supply IS developing its Budget for next year Preliminary estimates for the next year are as follows.
* Sales of 10.000 units
* Variable cost of $350 per unit
* Fixed costs of $800,000
. Net assets utilized on the Transformer Division are $7 million
* Target rate of return on investment required by Keller is 15%
If the Transformer Division utilizes cost-based pricing and uses a markup based on its target rate of return, what price per unit (rounded to the nearest dollar) should it use for the budget?
- A. $535
- B. $430
- C. $495
- D. $506
正解: A
質問 48
If a CMA is asked to conduct a financial assessment of a company owned by a close relative, what would be the proper response under the credibility standard of the IMA Statement of Ethical Professional Practice?
- A. Communicate the existence of a constraint that might preclude responsible judgment
- B. Advise all parties of a potential conflict of interest
- C. Provide an assessment that is timely and accurate despite the personal relationship
- D. Keep information confidential except when authorized By the relative
正解: B
質問 49
Radal inc. currently has three product lines: stationery computer supplies, and printer cartridges Based on the following information, the company is considering whether to drop the printer cartridge line.
- A. continue the printer cartridge product line to avoid an additional $3.000 decrease in net income
- B. continue the printer cartridge product line to avoid an additional $6.000 decrease in net income
- C. drop the printer cartridge product line as this will result in a $6,000 increase m net income
- D. drop the printer cartridge product line as this will result in a $3 000 increase m net income
正解: A
質問 50
Which one of the following would best ensure the effectiveness of an organization s code of conduct?
- A. Hold periodic employee workshops that illustrate expected behaviors in business situations in which ethical issues may arise
- B. Require executives and managers to take individual responsibility for practicing ethical behavior
- C. Incorporate ethics training for all new employees as a standard part of the orientation process
- D. Distribute the document internally to staff and externally to suppliers and distributors to increase awareness of ethics considerations
正解: A
質問 51
Below is the income statement and balance sheet for a retail corporation.
What is the corporation's debt to total capital in year 2?
- A. 19%
- B. 6%
- C. 41%
- D. 71%
正解: A
質問 52
Marsalls Products Inc. manufactures and sells two products CD-ROMs and DVD's. The latest forecast on me products and their costs tor the coming year is shown in the following table.
Note 1: Fixed manufacturing cost of Si.500 000 per year is allocated to products based on the number of machine hours required to produce the product at a rate of S3 per machine hour The Manufacturing Team leader just informed the CEO that a fire occurred at one of the manufacturing lines and that line would be unavailable for the next 12 months. The result is that mere will only be 400 000 machine Hours available The CEO requested the management team to revise the plan for the coming year based on the new constraint. The Marketing Team leader stated that in order to minimize customer complaints about the shortage, a minimum of 100,000 units of each product should be produced With the new information from the Manufacturing and Marketing teams what is the optimal product mix for the coming 12 months'' Assume Marsalls can sell allot its production.
- A. 120.000 CD-ROM's 140,000 DVD.
- B. 100,000 CD-ROM's and 150,000 DVD'[s
- C. 150.000 CD-ROMS and 125.000 DVD
- D. 200,000 CD-ROm's a dn 100,000 DVD
正解: D
質問 53
Amy Curtin sells used cars of a reliable bona Curtin has no knowledge of me history or any or the specific cars She believes that the brand is reliable, and is considering whether it is acceptable to offer only this general Information rather than specific information regarding me cars when trying to complete each sale The company has always preferred to make the sale and worry about any warranty issues later and there are no legal disclosure requirements in their jurisdiction Curtin considers herself to be an ethical person but she does not want to lose out on any potential sales of vehicles that are most likely in good mechanical condition Which one of the following statements best represents what Curtin should consider related to the meaning of ethics?
- A. Ethics is driven by compliance with a set of regulations or laws
- B. Ethics is about being consistent with the ethical tone set by the organization
- C. Ethics is about the integrity of the decision making process to resolve issues
- D. Ethics is about decisions where the relevant policies are informal and not documented
正解: C
質問 54
FumiSelf is a global manufacturer of consumer-assembled furniture with a business presence in nearly every country. The Vice President of Production was presented with the following information by the Vice President of Finance as of the end of the current quarter.
- A. Europe division is the most inefficient in managing its inventory
- B. North American division has the lowest days' sales in Inventory.
- C. African division is the most efficient in manage its inventory
- D. Asian division has the highest days' sales in inventory
正解: A
質問 55
Explain me concept of relevant cost in the season-making process and discuss whatever the €200, 000 course development coil is relevant to OLi's price decisions in future years Essay Online Learning Inc. lOLI) is a privately-held company based in the IUC that specializes in providing online courses in English as a Second Language (ESL). OLI is trying to set up a new sales office in a foreign country.
It needs a business license to operate in that country. The license normally lakes six months to obtain. An official of that country said that he could expedite the process for a fee of €300.
OLI estimates the new sales office can bring €300,000 incremental profit annually OLI has just launched a new online 40-houi course to help adult ESL learners master basic business English. The price of the new course is €500 per student, the variable cost is €300 per student, and the total fixed cost of the new course is €300.000 per year OLI spent €200.000 to develop the new course before launching it.
There are many online course providers in the marketplace, and each has its own feature However, OLI's highly qualified staff and good reputation have enabled it to charge a premium price compared to its major competitors.
Recent market research indicates that if OLI raises the price of its new business English course by 10V the student enrollment would decrease by 5V A regional airlines company in Asia has approached OLI and offered to enroll 1.000 of its employees in the new course if OLI would agree to a special price of €350 per employee If OLI accepts this offer, an additional €10,000 onetime cost would be required to temporally expand its capacity to accommodate the new students.
正解:
解説:
See the explanation for the answer.
Explanation
Relevant com is cost which is incurred in future and incremental because of the division and in terms of cash other costs are considered to be relevant while making a decision. The development cost is a past cost incurred before mating the decision and hence irrelevant.
質問 56
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