NO.PZ2018103102000116
问题如下:
According to the financial statement, what`s the FCFE for Company M?
选项:
A.
$1,140 million
B.
$1,050 million
C.
$740 million
解释:
A is correct.
考点:Computing FCFE from Different Accounting Items
解析:
FCFF = EBIT × (1-T) + Dep – Wcinv – Fcinv
= 2,000 × (1-30%) + 750 – (1,000+100-500) – 600
= $950 million
FCFE = FCFF – Int (1 – Tax rate) + Net borrowing.
= 950 – 300*(1 – 0.3) + 400
= $1140 million.
AR和AP到底是算在ncc还是WCinv里面呢?为什么一下在这一下在那?