111 . Yangtze Delta High Technology produces multimedia-enabled wireless phones. The factory incurs rent, depreciation, salary, and other fixed costs totaling RMB 10 million per year. Also, the company incurs annual interest of RMB 3 million on debt. Each phone sold by Yangtze Delta sells for RMB 200. The variable cost per phone is RMB 150. Yangtze Delta’s operating breakeven quantity of sales is closest to:
　　A)   200,000.
　　B)    260,000.
　　C)    65,000.
　　112. Pfluger Company’s accounts payable department receives an invoice from a vendor with terms of 2/10 net 30. If Pfluger pays the invoice on its due date, the cost of trade credit is closest to:
　　A)   27.9%.
　　B)    43.5%.
　　C)    44.6%.
　　113 . The after-tax cost of preferred stock is always:
　　A)   equal to the before-tax cost of preferred stock.
　　B)    less than the before-tax cost of preferred stock.
　　C)    higher than the cost of common shares.
　　114 . An example of a secondary source of liquidity is:
　　A)   negotiating debt contracts.
　　B)    cash flow management.
　　C)    trade credit and bank lines of credit.
　　115 . Which of the following statements about the internal rate of return (IRR) and net present value (NPV) is least accurate?
　　A)   For mutually exclusive projects, if the NPV rankings and the IRR rankings give conflicting signals, you should select the project with the higher IRR.
　　B)    The discount rate that causes the project's NPV to be equal to zero is the project's IRR.
　　C)    The IRR is the discount rate that equates the present value of the cash inflows with the present value of the outflows.
　　
　　　　
　　掃一掃微信，*9時間獲取2014年CFA考試報名時間和考試時間提醒
　　
　　
　　高頓網(wǎng)校特別提醒：已經(jīng)報名2014年CFA考試的考生可按照復(fù)習計劃有效進行！另外，高頓網(wǎng)校2014年CFA考試輔導(dǎo)高清網(wǎng)絡(luò)課程已經(jīng)開通，通過針對性地講解、訓練、答疑、?？?，對學習過程進行全程跟蹤、分析、指導(dǎo)，可以幫助考生全面提升備考效果。
　　報考指南：2014年CFA考試備考指南
　　免費題庫：2014年CFA免費題庫
　　考前沖刺：CFA備考秘籍
　　高清網(wǎng)課：CFA考試網(wǎng)絡(luò)課程