2022年CFA考试《CFA一级》试题共240道，均为单选题。帮考网为大家整理了Fixed Income Investments5道练习题，附答案解析，供各位小伙伴备考练习。

1、A company which prepares its financial statements in accordance with IFRS incurred ａｎｄ capitalized €2 million of development costs during the year. These costs were fully deductible immediately fｏｒtax purposes, but the company is depreciating them over two years fｏｒfinancial reporting purposes. The company has a long history of profitability which is expected to continue. Which is the most appropriate way fｏｒan analyst to incorporate the differential tax treatment in his analysis? He should include it in:【单选题】

A.liabilities when calculating the company’s current ratio.

B.equity when calculating the company’s return on equity ratio.

C.liabilities when calculating the company’s debt-to-equity ratio.

正确答案:C

答案解析:“Income Taxes,” Elbie Antonites, CFA, ａｎｄ Michael A. Broihahn, CFA

2011 Modular Level I, Vol. 3, pp. 460, 485-486, 490

Study Session 9-38-i

Analyze disclosures relating to deferred tax items ａｎｄ the effective tax rate reconciliation, ａｎｄ discuss how information included in these disclosures affects a company’s financial statements ａｎｄ financial ratios.

The different treatment fｏｒtax purposes ａｎｄ financial reporting purposes is a temporary difference ａｎｄ would create a deferred tax liability. Deferred tax liabilities should be classified as debt if they are expected to reverse with subsequent tax payments. The long history of profitability implies the company will likely be paying taxes in the following years ａｎｄ hence an analyst could reasonably expect the temporary difference to reverse. Under IFRS all deferred tax liabilities are non-current ａｎｄ therefore do not affect the current ratio.

2、According to the International Accounting Standards Board’s Conceptual Framework fｏｒFinancial Reporting, the two fundamental qualitative characteristics that make financial information useful are best described as:【单选题】

A.timeliness ａｎｄ accrual accounting.

B.understandability ａｎｄ verifiability.

C.relevance ａｎｄ faithful representation.

正确答案:C

答案解析:“Financial Reporting Standards,” Elaine Henry, CFA, Jan Hendrik van Greuning, CFA, ａｎｄ Thomas R. Robinson, CFA

2013 Modular Level I, Vol. 3, Reading 24, Section 5.2

Study Session 7-24-d

Describe the International Accounting Standards Board’s conceptual framework, including the objective ａｎｄ qualitative characteristics of financial statements, required reporting elements, ａｎｄ constraints ａｎｄ assumptions in preparing financial statements.

C is correct. Relevance ａｎｄ faithful representation are the two fundamental qualitative characteristics that make financial information useful according to the IASB Conceptual Framework.

3、An analyst does research about cash flow ａｎｄ gathers the following information(in thousands) about a company.

Based on the information above, cash paid to suppliers ( in thousands) in 2011is closest to:【单选题】

A.$ 11 443

B.$ 13 221

C.$ 15 651

正确答案:A

答案解析:$ 14 436 - ( $ 5 980 - $ 3 876) - ( $ 7 321 - $ 6 432 ) = $ 144 36 - $ 2 104 - $ 889 =$ 11 443。

4、An analyst does research about financial statements.A company////\\'s employee benefitplans are most likely disclosed in:【单选题】

A.management////\\'s discussion ａｎｄ analysis.

B.the notes to the financial statements.

C.management////\\'s report on internal control.

正确答案:B

答案解析:财务报表附注及补充事项说明(financial statements footnotes &； supplementary schedules)包括以下内容：

● 会计方法、假设、估计；

● 说明哪些事项审计了，哪些事项没有审计；

● 其他信息：

(1) Business acquisition ｏｒdisposals(企业兼并或出售)

(2) Legal proceedings(法律程序)

(3) Employee benefit plan ａｎｄ stock option(员工福利计划和股票期权)

(4) Contingencies ａｎｄ commitments(或有负债与承付款项)

(5) Significant customers(重要客户)

(6) Subsequent events(期后事项)

(7) Business ａｎｄ geographic segments(业务与地区分部)

(8) Quarterly financial data(季度财务数据)

5、An analyst does research about audit opinions.A disclaimer audit opinion is mostlikely issued when:【单选题】

A.financial statements are prepared with some limitation ｏｒexceptions accordingto the accounting standards.

B.auditors are unable to issue an opinion about financial statements.

C.financial statements are materially depart from accounting standards ａｎｄ notfairly presented.

正确答案:B

答案解析:拒绝发表意见(disclaimer opinion)意味着审计人员无法就财务报表发表意见。选项A是保留意见(qualified opinion)，选项C是否定意见(adverse opinion)。

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