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Ivana 🍭 · 2022年11月16日

麻烦老师解释一下这题

  1. CFA I
  2. FRA

NO.PZ2019120301000137

问题如下：

Question

The following table provides selected ratios for a company’s two main operating segments during the past two years:


Which of the following statements is most appropriate? The segment:

选项：

A.that is currently most efficient is also financed the most conservatively.

B.that had the lowest profit margin experienced the most aggressive expansion.

C.that earned the most per dollar invested last year failed to do so again in the current year.

解释：

Solution

A is correct. Segment 1 is the most efficient (highest turnover) and has the lowest debt-to-asset ratio. Therefore, it has the most conservative financing.


B is incorrect. Assets in Segment 2 have grown the most at 15%, but Segment 1 has the lowest profit margin (in both years).

C is incorrect. The highest EBIT/asset ratio in both years was Segment 2 (88% and 66.7%).

麻烦老师解释一下这题

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1 个答案

王园圆_品职助教 · 2022年11月16日

嗨，爱思考的PZer你好：


A选项说两个部门中 现在 效率最高的部门也是融资最保守（也就是融资比较少）的部门

——ratios中代表效率的是asset turnover ratio

      代表融资程度的是debt/asset ratio

部门1比部门2 效率高,同时部门1的debt占比也较低，融资较少，所以A正确

B选项说过去经历了最低净利率的部门也经历了最激进的增长

过去净利率最低的是部门1（prior profit margin），但是asset growth 只有12%小于部门2，所以B选项错误

C选项说过去每投资一美元就赚的最多的部门今年没能成功做到相同的业绩

每投资一美元就赚的最多显然就是指的EBIT/asset——过去这个指标最高的是部门2，今年也同样是最高的，所以C错

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NO.PZ2019120301000137 问题如下 QuestionThe following table provis selecteratios for a company’s two main operating segments ring the past two years:Whiof the following statements is most appropriate? The segment: A.this currently most efficient is also financethe most conservatively. B.thhthe lowest profit margin experiencethe most aggressive expansion. C.thearnethe most per llinvestelast yefaileto so again in the current year. SolutionA is correct. Segment 1 is the most efficient (highest turnover) anhthe lowest bt-to-asset ratio. Therefore, it hthe most conservative financing.B is incorrect. Assets in Segment 2 have grown the most 15%, but Segment 1 hthe lowest profit margin (in both years).C is incorrect. The highest EBIT/asset ratio in both years wSegment 2 (88% an66.7%). 1

2022-08-09 15:16 1 · 回答