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甲公司是一家上市公司,有关资料如下:资料一:2008年3月31日甲公司股票每股市价25元,每股收益2元;股东权益项目构成如下:普通股4000万股,每股面值1元,计4000万元;资本公积500万元;留存收益9500万元。公司实行稳定增长的股利政策,股利年增长率为5%。目前一年期国债利息率为4%,市场组合风险收益率为6%。不考虑通货膨胀因素。资料二:2008年4月1日,甲公司公布的2007年度分红方案为:凡在2008年4月15日前登记在册的本公司股东,有权享有每股1.15元的现金股息分红,除息日是2008年4月16日,享有本次股息分红的股东可于5月16日领取股息。资料三:2008年4月20日,甲公司股票市价为每股25元,董事会会议决定,根据公司投资计划拟增发股票1000万股,并规定原股东享有优先认股权,每股认购价格为18元。要求:(1)根据资料一:①计算甲公司股票的市盈率;②若甲公司股票所含系统风险与市场组合的风险一毁,确足甲公司股票的贝塔系数;③若甲公司股票的贝塔系数为1.05,运用资本资产定价模型计算其必要收益率。(2)根据资料一和资料三计算下列指标:①原股东购买1股新发行股票所需要的认股权数;②登记日前的附权优先认股权价值;③无优先认股权的股票价格。(3)假定目前普通股每股市价为23元,根据资料一和资料二,运用股利折现模型计算留存收益筹资成本。(4)假定甲公司发放10%的股票股利替代现金分红,并于2008年4月16日完成该分配方案,结合资料一计算完成分红方案后的下列指标:①普通股股数;②股东权益各项目的数额。(5)假定2008年3月31日甲公司准备用现金按照每股市价25元回购800万股股票,且公司净利润与市盈率保持不变,结合资料一计算下列指标:①净利润;②股票回购之后的每股收益;③股票回购之后的每股市价。

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企业价值最大化中的价值并非企业资产的(),而是企业全部资产的(),即企业未来预期现金流量的现值。

根据项目投资的理论,在各类投资项目中,运营期现金流出量中都包括固定资产投资。 ( )

A. 对
B. 错

B In 1947 a group of famous people from the art world headed by an Austrian conductor decided to hold an intemational festival of music,dance and theatre in Edinburgh.The idea was to reunite Europe after the Second World War. It quickly attracted famous names such as Alec Guinness, Richard Burton, Dame Margot Fonteyn and Marlene Dietrich as well as the big symphony orchestras (交响乐团). It became a fixed event every August and now attracts 400,000 people yearly. At the same time, the “Fringe” appeared as a challenge to the official festival.Eight theatre groups turned up uninvited in 1947,in the belief that everyone should have the right to perform,and they did so in a public house disused for years. Soon,groups of studentsfirstly from Edinburgh University, and later from the universities of Oxford and Cambridge,Durham and Birmingham were making the journey to the Scottish capital each summer to perform theatre by little-known writers of plays in small church halls to the people of Edinburgh. Today the “Fringe”,once less recognized, has far outgrown the festival with around 1,500 performances of theatre,music and dance on every one of the 21 days it lasts.And yetas early as 1959,with only 19 theatre groups performing,some said it was getting too big. A paid administrator was first employed only in 1971, and today there are eight administrators working all year round and the number rises to 150 during August itself.In 2004 there were 200 places housing 1,695 shows by over 600 different groups from 50 different countries.More than 1,25 million tickets were sold. Who joined the "Fringe" after it appeared().

A. they owned a public house there
B. University students.
C. trusts from around the world.
D. Performers of music and dance.

加达公司2011年年初利润分配-未分配利润借方余额370,000元(系上年度亏损),至12月初全年累计利润总额5,000,000元,其中包括国库债券利息收入50,000元。12月份有关损益类账户的发生额如下:主营业务收入1,020,000元,主营业务成本600,000元,销售费用10,000元,营业税金及附加14000元,其他业务收入40,000元,营业外收入500元,其他业务成本3,000元,营业外支出20,000元(其中非公益性捐赠支出10,000元),管理费用5,000元,财务费用1,500元,投资收益23000元(其中20,000元为购买国库债券利息所得)所得税税率为25%。 计算该企业2011年度应纳税所得额;

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