题目内容
（请给出正确答案）
(d) Estimate by how much the bid might be increased without the shareholders of Paxis suffering a fall in their expected wealth, and discuss whether or not the directors of Paxis should proceed with the bid. (5 marks)
如果结果不匹配，请 联系老师 获取答案
更多“（d) Estimate by how much the b…”相关的问题
Which of the following correctly reflects what this change represents and how it should be applied？
A.It is a change of accounting policy and must be applied prospectively
B.It is a change of accounting policy and must be applied retrospectively
C.It is a change of accounting estimate and must be applied retrospectively
D.It is a change of accounting estimate and must be applied prospectively
Section B – TWO questions ONLY to be attempted
GNT Co is considering an investment in one of two corporate bonds. Both bonds have a par value of $1,000 and pay coupon interest on an annual basis. The market price of the first bond is $1,079？68. Its coupon rate is 6% and it is due to be redeemed at par in five years. The second bond is about to be issued with a coupon rate of 4% and will also be redeemable at par in five years. Both bonds are expected to have the same gross redemption yields (yields to maturity).
GNT Co considers duration of the bond to be a key factor when making decisions on which bond to invest.
Required:
(a) Estimate the Macaulay duration of the two bonds GNT Co is considering for investment. (9 marks)
(b) Discuss how useful duration is as a measure of the sensitivity of a bond price to changes in interest rates. (8 marks)
What is the 'biggest city in the world？ That is, (21) city has the largest population？ This seems like (22) question to answer, but actually it isn't.
It's actually rather difficult to say which cities (23) the largest. There are two reasons for this difficulty. First of all, it isn't easy to determine a city's boundaries, that is, where a city ends. Nowadays, nearly all cities have a large (24) area around them. So when we talk about the population of a city, we often mean the population of the whole metropolitan area around the city. That means that it's difficult to determine what the population of a city is because it's difficult to define what a city is.
The second reason that it is difficult to 25 the population of different cities is this: it is almost impossible to get (26) about the population of all cities for the same year. For example, we might get an estimate of New York's population in 1979 and an (27) of Mexico City's population in 1981. So we real ly can't compare the numbers because the information is for (28) different years. And the population of cities changes rather quickly, especially in some cases. For example, the population of Jakarta, Indonesia, may increase by 5% each year, so the population figure will change rather quickly.
So we can say that these are our two (29) for comparing the populations of cities: one, it's difficult to determine the (30) of a city, and two, it is difficult to get accurate information.
21. A. what
B. which
C. where
D. how
【C1】
A．hurt
B．pain
C．harm
D．work
A.estimated
B. count
C. calculate
D. estimate
(a) The entity uses forward and futures contracts to protect it against fl uctuation in the price of edible oils. Where forwards are used the company often takes delivery of the edible oil and sells it shortly afterwards. The contracts are constructed with future delivery in mind but the contracts also allow net settlement in cash as an alternative. The net settlement is based on the change in the price of the oil since the start of the contract. Seltec uses the proceeds of a net settlement to purchase a different type of oil or purchase from a different supplier. Where futures are used these sometimes relate to edible oils of a different type and market than those of Seltec’s own inventory of edible oil. The company intends to apply hedge accounting to these contracts in order to protect itself from earnings volatility. Seltec has also entered into a long-term arrangement to buy oil from a foreign entity whose currency is the dinar. The commitment stipulates that the fi xed purchase price will be denominated in pounds sterling.
Seltec is unsure as to the nature of derivatives and hedge accounting techniques and has asked your advice on how the above fi nancial instruments should be dealt with in the fi nancial statements. (14 marks)
(b) Seltec has decided to enter the retail market and has recently purchased two well-known brand names in the edible oil industry. One of the brand names has been in existence for many years and has a good reputation for quality. The other brand name is named after a famous fi lm star who has been actively promoting the edible oil as being a healthier option than other brands of oil. This type of oil has only been on the market for a short time. Seltec is fi nding it diffi cult to estimate the useful life of the brands and therefore intends to treat the brands as having indefi nite lives.
In order to sell the oil, Seltec has purchased two limited liability companies from a company that owns several retail outlets. Each entity owns retail outlets in several shopping complexes. The only assets of each entity are the retail outlets. There is no operational activity and at present the entities have no employees.
Seltec is unclear as to how the purchase of the brands and the entities should be accounted for. (9 marks)
Required:
Discuss the accounting principles involved in accounting for the above transactions and how the above transactions should be treated in the fi nancial statements of Seltec.
Professional marks will be awarded in this question for clarity and quality of discussion. (2 marks)
The mark allocation is shown against each of the two parts above.
Contingency planning should include all but which of the following？
A The development of a contingency allowance determined by combining (layering) various estimate segments to form. larger estimate segments.
B the development of schedule alternatives and work-around
C the management of a contingency budget
D an assessment of project shut-down liabilities.
E A and C
Sensitivity analysis can be used in risk analysis to:
A Substitute for uncertainty analysis in risk quantification
B estimate the level of risk aversion adopted by management
C estimate the effect of change of one project variable on the overall project
D A and B
E All of the above.
A . Definitive.
B . Analogy
C . Budget
D . Modified standards.
E . Rule of thumb.
