NO.PZ202310070100000106
问题如下：
Joshua Hu, a research analyst, is initiating coverage on several companies in the ocean freight shipping industry. OldShips is a mature company with high fixed costs and a high capital expenditure to sales ratio because it owns and operates its own fleet of ships. CleanYards is a technologically advanced, sustainable shipyard with a focus on specialized repairs and ship construction. Hu has compiled the following data for the two companies:
NewShips, a third company, is a web-based shipping technology platform that connects ship operators such as OldShips with customers in a wide variety of industries who need ocean freight shipping. NewShips’ customers place orders online and pay for freight to be placed on a container to any destination in the world. NewShips’ partners, like OldShips, provide vessels on both long- and short-term charters.
In 2X19, NewShips’ platform brokered orders for 900,000 twenty-foot equivalent unit (TEU) containers in aggregate, with an average gross freight rate of USD3,848 per TEU. On average, NewShips’ commission, which it receives as a broker from the customer, was 5% of the freight rate.
OldShips’ cash conversion cycle (CCC) is:
选项：
A.lower than CleanYards’.
similar to CleanYards’.
higher than CleanYards’.
解释：
CCC = DOH + DSO – DPO, so:
OldShips’ CCC = 12 + 27 - 55 = -16 days
CleanYards’ CCC = 46 + 98 - 40 = 104 days
OldShips, in fact, has a negative cash conversion cycle. OldShips takes advantage of the favorable credit terms granted by its suppliers.
B and C are incorrect, because OldShips’ CCC is lower than CleanYards’
如题
