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Avalon · 2024年09月30日

麻烦助教老师,看下这题

* 问题详情,请 查看题干

NO.PZ202308140300007901

问题如下:

Q. With respect to Statement 1, which of the following is the most likely effect of management’s decision to expense rather than capitalize these expenditures?

选项:

A.2022 net profit margin is higher than if the expenditures had been capitalized.

B.2022 total asset turnover is lower than if the expenditures had been capitalized.

C.Future profit growth will be higher than if the expenditures had been capitalized.

解释:

C is correct. Expensing, rather than capitalizing, an investment in long-term assets will result in higher expenses and lower net income and net profit margin in the current year. Future years’ incomes will not include depreciation expense related to these expenditures. Consequently, year-to-year growth in profitability will be higher. If the expenses had been capitalized, the carrying amount of the assets would have been higher and the 2022 total asset turnover would have been lower.

这个选项的过去完成式语法怎么看,我感觉我理解反了,我理解是把费用化的给资本化,但是答案意思好像是把资本化的费用化,不知道咋掰过来

1 个答案

王园圆_品职助教 · 2024年10月01日

同学你好,你没有理解错这个语法的意思,是没把题目结合题干顺着读完整


A这句话要结合题干补全了看才更容易理解——xxx is higher than if 资本化。而题干说的是。。。费用化。。。。。。——所以这里的意思就是费用化下相比资本化下净利润率会更高

 net profit margin =NI/sales,相比资本化,NI会因为费用化而变低,因此net profit margin是lower,不是higher,A不对。

B也是同理,是说费用化下相比资本化下总资产周转率会更低

total asset turnover =sales/total asset,相比资本化,费用化情形中的total asset更低,total asset turnover会higher,不是 lower ,B不对。

只有C,说的是费用化相比资本化利润增长会更高。

由于费用化了未来不会有折旧,且今年会导致NI的基数更加的低,所以相比资本化,费用化的情形未来earning会更高。C选项正确。