问一道题：NO.PZ2016012101000124 [ CFA I ]

NO.PZ2016012101000124问题如下The ta in Exhibit 1 appein the five-yesummary of a major internationcompany. A business combination with another major manufacturer took plain FY13.The company’s totassets year-enFY9 were G3,500 million. Whiof the following choices best scribes reasonable conclusions analyst might make about the company’s efficiency?A.Comparing FY14 with FY10, the company’s efficienimprove incatea totasset turnover ratio of 0.86 comparewith 0.64.B.Comparing FY14 with FY10, the company’s efficienteriorate incateits current ratio.C.Comparing FY14 with FY10, the company’s efficienterioratee to asset growth faster thturnover revenue growth. C is correct.The company’s efficienteriorate incatethe cline in its totasset turnover ratio from 1.11 {= 4,390/[(4,384 + 3,500)/2]} for FY10 to 0.87 {= 11,366/[(12,250 + 13,799)/2]} for FY14.The cline in the totasset turnover ratio resultefrom increase in average totassets from GBP3,942 [= (4,384 + 3,500)/2] for FY10 to GBP13,024.5 for FY14, increase of 230 percent, comparewith increase in revenue from GBP4,390 in FY10 to GBP11,366 in FY14, increase of only 159 percent. The current ratio is not incator of efficiency.解析A错误，totasset turnover=revenue/average totasset，FY10是1.11，FY14是0.87，这个ratio变小说明每单位的资产可以产生的收入变少，说明efficiency变差了。B错误，current ratio不是衡量efficiency的指标。C，是看每单位资产能创造多少的效益。如果资产在增加，但资产所带来的效益增长的速度小于资产本身增长的幅度，那么efficiency就在降低。从FY10到FY14，average totasset从3942增加到13,024.5，增长率=（13,024.5-3942）/3942=230%，revenue从4390增加到11,366，增长率=（11366-4390）/4390=159%，可以看出资产增长速度大于营业收入增长速度，公司的efficiency在变差，C正确。 如题，与题目无关，想问下表格里的other current asset 在计算current ratio 指标时，需要加在分母上吗

NO.PZ2016012101000124 问题如下 The ta in Exhibit 1 appein the five-yesummary of a major internationcompany. A business combination with another major manufacturer took plain FY13.The company’s totassets year-enFY9 were G3,500 million. Whiof the following choices best scribes reasonable conclusions analyst might make about the company’s efficiency? A.Comparing FY14 with FY10, the company’s efficienimprove incatea totasset turnover ratio of 0.86 comparewith 0.64. B.Comparing FY14 with FY10, the company’s efficienteriorate incateits current ratio. C.Comparing FY14 with FY10, the company’s efficienterioratee to asset growth faster thturnover revenue growth. C is correct.The company’s efficienteriorate incatethe cline in its totasset turnover ratio from 1.11 {= 4,390/[(4,384 + 3,500)/2]} for FY10 to 0.87 {= 11,366/[(12,250 + 13,799)/2]} for FY14.The cline in the totasset turnover ratio resultefrom increase in average totassets from GBP3,942 [= (4,384 + 3,500)/2] for FY10 to GBP13,024.5 for FY14, increase of 230 percent, comparewith increase in revenue from GBP4,390 in FY10 to GBP11,366 in FY14, increase of only 159 percent. The current ratio is not incator of efficiency.解析A错误，totasset turnover=revenue/average totasset，FY10是1.11，FY14是0.87，这个ratio变小说明每单位的资产可以产生的收入变少，说明efficiency变差了。B错误，current ratio不是衡量efficiency的指标。C，是看每单位资产能创造多少的效益。如果资产在增加，但资产所带来的效益增长的速度小于资产本身增长的幅度，那么efficiency就在降低。从FY10到FY14，average totasset从3942增加到13,024.5，增长率=（13,024.5-3942）/3942=230%，revenue从4390增加到11,366，增长率=（11366-4390）/4390=159%，可以看出资产增长速度大于营业收入增长速度，公司的efficiency在变差，C正确。 老师可以把abc三个计算这些retio的公式分别列示出来吗？我连分子和分母都没找到

NO.PZ2016012101000124问题如下The ta in Exhibit 1 appein the five-yesummary of a major internationcompany. A business combination with another major manufacturer took plain FY13.The company’s totassets year-enFY9 were G3,500 million. Whiof the following choices best scribes reasonable conclusions analyst might make about the company’s efficiency?A.Comparing FY14 with FY10, the company’s efficienimprove incatea totasset turnover ratio of 0.86 comparewith 0.64.B.Comparing FY14 with FY10, the company’s efficienteriorate incateits current ratio.C.Comparing FY14 with FY10, the company’s efficienterioratee to asset growth faster thturnover revenue growth. C is correct.The company’s efficienteriorate incatethe cline in its totasset turnover ratio from 1.11 {= 4,390/[(4,384 + 3,500)/2]} for FY10 to 0.87 {= 11,366/[(12,250 + 13,799)/2]} for FY14.The cline in the totasset turnover ratio resultefrom increase in average totassets from GBP3,942 [= (4,384 + 3,500)/2] for FY10 to GBP13,024.5 for FY14, increase of 230 percent, comparewith increase in revenue from GBP4,390 in FY10 to GBP11,366 in FY14, increase of only 159 percent. The current ratio is not incator of efficiency.解析A错误，totasset turnover=revenue/average totasset，FY10是1.11，FY14是0.87，这个ratio变小说明每单位的资产可以产生的收入变少，说明efficiency变差了。B错误，current ratio不是衡量efficiency的指标。C，是看每单位资产能创造多少的效益。如果资产在增加，但资产所带来的效益增长的速度小于资产本身增长的幅度，那么efficiency就在降低。从FY10到FY14，average totasset从3942增加到13,024.5，增长率=（13,024.5-3942）/3942=230%，revenue从4390增加到11,366，增长率=（11366-4390）/4390=159%，可以看出资产增长速度大于营业收入增长速度，公司的efficiency在变差，C正确。 Fy10 里面3500哪里来的？TotAsset turnover = revenue/average TA答案里面的fy14的average assets为啥是fy13 14相加/2啊？我以为是这五年的呢？题目也没看懂

NO.PZ2016012101000124 问题如下 The ta in Exhibit 1 appein the five-yesummary of a major internationcompany. A business combination with another major manufacturer took plain FY13.The company’s totassets year-enFY9 were G3,500 million. Whiof the following choices best scribes reasonable conclusions analyst might make about the company’s efficiency? A.Comparing FY14 with FY10, the company’s efficienimprove incatea totasset turnover ratio of 0.86 comparewith 0.64. B.Comparing FY14 with FY10, the company’s efficienteriorate incateits current ratio. C.Comparing FY14 with FY10, the company’s efficienterioratee to asset growth faster thturnover revenue growth. C is correct.The company’s efficienteriorate incatethe cline in its totasset turnover ratio from 1.11 {= 4,390/[(4,384 + 3,500)/2]} for FY10 to 0.87 {= 11,366/[(12,250 + 13,799)/2]} for FY14.The cline in the totasset turnover ratio resultefrom increase in average totassets from GBP3,942 [= (4,384 + 3,500)/2] for FY10 to GBP13,024.5 for FY14, increase of 230 percent, comparewith increase in revenue from GBP4,390 in FY10 to GBP11,366 in FY14, increase of only 159 percent. The current ratio is not incator of efficiency.解析A错误，totasset turnover=revenue/average totasset，FY10是1.11，FY14是0.87，这个ratio变小说明每单位的资产可以产生的收入变少，说明efficiency变差了。B错误，current ratio不是衡量efficiency的指标。C，是看每单位资产能创造多少的效益。如果资产在增加，但资产所带来的效益增长的速度小于资产本身增长的幅度，那么efficiency就在降低。从FY10到FY14，average totasset从3942增加到13,024.5，增长率=（13,024.5-3942）/3942=230%，revenue从4390增加到11,366，增长率=（11366-4390）/4390=159%，可以看出资产增长速度大于营业收入增长速度，公司的efficiency在变差，C正确。 如题

NO.PZ2016012101000124 比较容易混这些指标，麻烦了