问题 单项选择题

某公司的主营业务是生产和销售制冷设备,目前准备投资汽车项目。在确定项目系统风险时,掌握了以下资料:汽车行业的代表企业甲上市公司的权益β值为1.2,资产负债率为60%,投资汽车项目后,公司将继续保持目前40%的资产负债率。甲上市公司的所得税税率为20%,该公司的所得税税率为30%,则本项目不含财务风险的β值是()。

A.0.55

B.1.57

C.1.26

D.1.31

答案

参考答案:A

解析:

不含财务风险的β值指的是β资产,在类比法下,替代公司的β资产=项目的β资产,甲公司产权比率=60%/(1-60%)=1.5,β资产=1.2/[1+(1-20%)×1.5]=0.55。

阅读理解

     Stella was born on September 13, 1971 in London, England. She was the daughter of Paul

McCartney, a member of the world-famous band “the Beatles.” Though she was born famous,

her parents wanted her to live a normal and independent life. She went to state school and earned

pocket money on her own. She didn’t get the kind of allowance other kids of her age might have.

When she wanted pocket money, she had to clean dishes at a restaurant near her home.

     Though Stella had the look to become a model, she was most interested in becoming a fashion

designer. At the age of twelve, she made her first jacket. Three years later, she started working on

her first fashion design collection. When she attended college, some students called her “Daddy’s

Girl.” But when her graduation fashion show came out, she made them shut up.

     Later, she worked for some famous brands and achieved great success. In 2001, she started her

own brand and began to have some famous customers like Liv Tyler. Now she is a world-famous

fashion designer.

1. Stella is _________.

A. a member of the Beatles        

B. a British model

C. a young fashion designer        

D. a famous brand

2. What does the underlined word “independent” mean in the passage?  

A.自由的      

B. 平凡的        

C. 独立的    

D. 舒适的

3. Stella started working on her first fashion design collection ________.

A. in 1971        

B. in 2001          

C. in 1983      

D. in 1986

4. _________ makes Stella achieve great success.  

A. Her famous father          

B. Her rich family  

C. Some help from her friends  

D. Her great effort (努力)

5. Which statement about Stella is NOT true? 

A. Stella got money from her parents.  

B. Stella made a successful graduating fashion show.  

C. Stella’s dream is to be a famous designer.  

D. Stella started her own brand at the age of 30.

单项选择题